S-2 PARTNERS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
S-2 PARTNERS
Largest movements
- Receivables within one year +€8,295
new in 2025: €8,295
- Stocks and contracts +€4,880
up €4,880 (+44.7%), from €10,924 to €15,804
- Cash -€2,695
down €2,695 (-87.0%), from €3,096 to €401
mainly Receivables within one year (-€8,295) and Stocks and contracts (-€4,880)
- Deferred charges and accrued income +€1,903
up €1,903 (+714%), from €267 to €2,170
- Tangible fixed assets +€1,297
up €1,297 (+49.4%), from €2,625 to €3,923
- Profit (loss) carried forward +€6,362
up €6,362, from -€5,001 to €1,361
- Trade debts +€3,881
up €3,881 (+2,979%), from €130 to €4,011
- Tax, wage and social debts +€2,123
up €2,123 (+386%), from €550 to €2,673
- Other debts +€1,316
up €1,316 (+11.7%), from €11,233 to €12,549
- Gross operating margin +€12,932
up €12,932, from -€4,260 to €8,672
- Other operating charges +€670
up €670 (+1,264%), from €53 to €723
- Depreciation +€502
up €502 (+73.7%), from €680 to €1,182
- Financial charges +€398
up €398 (+5,465%), from €7 to €405
of which Non-recurring financial charges: +€366
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,912 | €30,593 | +€13,682 | +80.9% |
| Fixed assets | 21/28 | €2,625 | €3,923 | +€1,297 | +49.4% |
| Tangible fixed assets | 22/27 | €2,625 | €3,923 | +€1,297 | +49.4% |
| Furniture and vehicles | 24 | €2,625 | €3,923 | +€1,297 | +49.4% |
| Current assets | 29/58 | €14,286 | €26,671 | +€12,384 | +86.7% |
| Stocks and contracts in progress | 3 | €10,924 | €15,804 | +€4,880 | +44.7% |
| Stocks | 30/36 | €10,924 | €15,804 | +€4,880 | +44.7% |
| Amounts receivable within one year | 40/41 | - | €8,295 | +€8,295 | |
| Trade receivables | 40 | - | €8,295 | +€8,295 | |
| Cash at bank and in hand | 54/58 | €3,096 | €401 | -€2,695 | -87.0% |
| Deferred charges and accrued income | 490/1 | €267 | €2,170 | +€1,903 | +714% |
| Total equity and liabilities | 10/49 | €16,912 | €30,593 | +€13,682 | +80.9% |
| Equity | 10/15 | €4,999 | €11,361 | +€6,362 | +127% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,001 | €1,361 | +€6,362 | |
| Amounts payable | 17/49 | €11,913 | €19,233 | +€7,320 | +61.4% |
| Amounts payable within one year | 42/48 | €11,913 | €19,233 | +€7,320 | +61.4% |
| Trade debts | 44 | €130 | €4,011 | +€3,881 | +2,979% |
| Suppliers | 440/4 | €130 | €4,011 | +€3,881 | +2,979% |
| Taxes, remuneration and social security | 45 | €550 | €2,673 | +€2,123 | +386% |
| Taxes | 450/3 | €550 | €2,673 | +€2,123 | +386% |
| Other amounts payable | 47/48 | €11,233 | €12,549 | +€1,316 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €680 | €1,182 | +€502 | +73.7% |
| Other operating charges | 640/8 | €53 | €723 | +€670 | +1,264% |
| Gross operating margin | 9900 | -€4,260 | €8,672 | +€12,932 | |
| Operating profit (loss) | 9901 | -€4,994 | €6,767 | +€11,761 | |
| Financial charges | 65/66B | €7 | €405 | +€398 | +5,465% |
| Recurring financial charges | 65 | €7 | €39 | +€32 | +438% |
| Non-recurring financial charges | 66B | - | €366 | +€366 | |
| Profit (loss) for the period before taxes | 9903 | -€5,001 | €6,362 | +€11,363 | |
| Profit (loss) for the period | 9904 | -€5,001 | €6,362 | +€11,363 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,001 | €6,362 | +€11,363 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.