S. and P.: what changed
S. and P.
Largest movements
- Cash +€9,192
up €9,192 (+14.8%), from €62,194 to €71,385
mainly Net result for the year (+€7,611) and Depreciation (+€1,967)
- Tangible fixed assets -€1,967
down €1,967 (-44.4%), from €4,430 to €2,463
of which Plant, machinery and equipment: -€1,408
- Receivables within one year +€1,917
up €1,917 (+149%), from €1,285 to €3,201
- Reserves +€7,611
up €7,611 (+47.0%), from €16,197 to €23,807
- Trade debts +€1,709
up €1,709 (+99.6%), from €1,716 to €3,424
- Gross operating margin +€10,577
up €10,577 (+437%), from €2,419 to €12,996
- Taxes +€795
up €795 (+518%), from €153 to €948
- Financial charges +€761
up €761 (+50.0%), from €1,523 to €2,283
- Depreciation -€382
down €382 (-16.3%), from €2,349 to €1,967
- Other operating charges +€246
up €246 (+89.4%), from €275 to €521
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,640 | €85,360 | +€8,719 | +11.4% |
| Fixed assets | 21/28 | €4,430 | €2,463 | -€1,967 | -44.4% |
| Tangible fixed assets | 22/27 | €4,430 | €2,463 | -€1,967 | -44.4% |
| Plant, machinery and equipment | 23 | €3,421 | €2,013 | -€1,408 | -41.1% |
| Furniture and vehicles | 24 | €1,009 | €449 | -€560 | -55.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €72,210 | €82,897 | +€10,687 | +14.8% |
| Stocks and contracts in progress | 3 | €7,983 | €7,212 | -€771 | -9.7% |
| Stocks | 30/36 | €7,983 | €7,212 | -€771 | -9.7% |
| Amounts receivable within one year | 40/41 | €1,285 | €3,201 | +€1,917 | +149% |
| Other amounts receivable | 41 | €1,285 | €3,201 | +€1,917 | +149% |
| Cash at bank and in hand | 54/58 | €62,194 | €71,385 | +€9,192 | +14.8% |
| Deferred charges and accrued income | 490/1 | €748 | €1,098 | +€350 | +46.8% |
| Total equity and liabilities | 10/49 | €76,640 | €85,360 | +€8,719 | +11.4% |
| Equity | 10/15 | €72,267 | €79,878 | +€7,611 | +10.5% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €16,197 | €23,807 | +€7,611 | +47.0% |
| Distributable reserves | 133 | €16,197 | €23,807 | +€7,611 | +47.0% |
| Profit (loss) carried forward | 14 | €25,084 | €25,084 | = | 0.0% |
| Amounts payable | 17/49 | €4,373 | €5,482 | +€1,109 | +25.4% |
| Amounts payable within one year | 42/48 | €4,373 | €5,482 | +€1,109 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,716 | €3,424 | +€1,709 | +99.6% |
| Suppliers | 440/4 | €1,716 | €3,424 | +€1,709 | +99.6% |
| Taxes, remuneration and social security | 45 | €2,658 | €2,058 | -€600 | -22.6% |
| Taxes | 450/3 | €2,658 | €2,058 | -€600 | -22.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €11 | €0 | -€11 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,349 | €1,967 | -€382 | -16.3% |
| Other operating charges | 640/8 | €275 | €521 | +€246 | +89.4% |
| Gross operating margin | 9900 | €2,419 | €12,996 | +€10,577 | +437% |
| Operating profit (loss) | 9901 | -€216 | €10,508 | +€10,724 | |
| Financial income | 75/76B | €166 | €334 | +€168 | +101% |
| Recurring financial income | 75 | €166 | €334 | +€168 | +101% |
| Financial charges | 65/66B | €1,523 | €2,283 | +€761 | +50.0% |
| Recurring financial charges | 65 | €1,523 | €2,283 | +€761 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,573 | €8,559 | +€10,132 | |
| Income taxes | 67/77 | €153 | €948 | +€795 | +518% |
| Profit (loss) for the period | 9904 | -€1,726 | €7,611 | +€9,337 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,726 | €7,611 | +€9,337 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.