S&A: what changed
Two fiscal 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&A
Largest movements
- Cash +€131,112
up €131,112 (+7807.5%), from €1,679 to €132,792
mainly Net result for the year (+€353,272) and Stocks and contracts (+€66,526)
- Stocks and contracts -€66,526
down €66,526 (-42.9%), from €155,000 to €88,474
- Receivables within one year +€48,929
up €48,929 (+557.0%), from €8,784 to €57,713
of which Trade receivables: +€48,929
- Profit (loss) carried forward +€353,179
up €353,179, from -€351,412 to €1,767
- Other debts -€161,105
down €161,105 (-55.3%), from €291,303 to €130,198
- Trade debts -€80,600
down €80,600 (-49.1%), from €164,072 to €83,472
- Gross operating margin +€392,466
up €392,466, from -€28,362 to €364,104
- Other operating charges -€7,057
down €7,057 (-43.2%), from €16,344 to €9,287
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.
Cash bridge derived
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 | €165,463 | €278,979 | +€113,516 | +68.6% |
| Current assets | 29/58 | €165,463 | €278,979 | +€113,516 | +68.6% |
| Stocks and contracts in progress | 3 | €155,000 | €88,474 | -€66,526 | -42.9% |
| Stocks | 30/36 | €155,000 | €88,474 | -€66,526 | -42.9% |
| Amounts receivable within one year | 40/41 | €8,784 | €57,713 | +€48,929 | +557.0% |
| Trade receivables | 40 | €8,671 | €57,601 | +€48,929 | +564.3% |
| Other amounts receivable | 41 | €113 | €113 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,679 | €132,792 | +€131,112 | +7807.5% |
| Total equity and liabilities | 10/49 | €165,463 | €278,979 | +€113,516 | +68.6% |
| Equity | 10/15 | -€289,912 | €63,360 | +€353,272 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €93 | +€93 | |
| Non-distributable reserves | 130/1 | - | €93 | +€93 | |
| Legal reserve | 130 | - | €93 | +€93 | |
| Profit (loss) carried forward | 14 | -€351,412 | €1,767 | +€353,179 | |
| Amounts payable | 17/49 | €455,375 | €215,619 | -€239,756 | -52.7% |
| Amounts payable within one year | 42/48 | €455,375 | €215,619 | -€239,756 | -52.7% |
| Trade debts | 44 | €164,072 | €83,472 | -€80,600 | -49.1% |
| Suppliers | 440/4 | €164,072 | €83,472 | -€80,600 | -49.1% |
| Taxes, remuneration and social security | 45 | - | €1,948 | +€1,948 | |
| Taxes | 450/3 | - | €1,948 | +€1,948 | |
| Other amounts payable | 47/48 | €291,303 | €130,198 | -€161,105 | -55.3% |
| Other operating charges | 640/8 | €16,344 | €9,287 | -€7,057 | -43.2% |
| Gross operating margin | 9900 | -€28,362 | €364,104 | +€392,466 | |
| Operating profit (loss) | 9901 | -€44,706 | €354,818 | +€399,523 | |
| Financial charges | 65/66B | €114 | €71 | -€43 | -37.5% |
| Recurring financial charges | 65 | €114 | €71 | -€43 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | -€44,819 | €354,747 | +€399,566 | |
| Income taxes | 67/77 | - | €1,475 | +€1,475 | |
| Profit (loss) for the period | 9904 | -€44,819 | €353,272 | +€398,091 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,819 | €353,272 | +€398,091 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.