S.B.A.: 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.B.A.
Largest movements
- Cash +€26,709
up €26,709 (+20.0%), from €133,436 to €160,145
mainly Depreciation (+€23,191) and Receivables within one year (+€21,210)
- Tangible fixed assets -€23,191
down €23,191 (-33.7%), from €68,776 to €45,585
of which Plant, machinery and equipment: -€18,432
- Receivables within one year -€21,210
down €21,210 (-57.9%), from €36,609 to €15,399
of which Trade receivables: -€23,182
- Deferred charges and accrued income +€2,670
new in 2025: €2,670
- Other debts -€7,172
down €7,172 (-12.4%), from €57,827 to €50,655
- Debts after one year -€6,727
down €6,727 (-10.9%), from €61,862 to €55,136
- Gross operating margin -€31,905
down €31,905 (-47.9%), from €66,650 to €34,745
- Depreciation -€7,587
down €7,587 (-24.6%), from €30,777 to €23,191
- Taxes -€6,115
down €6,115 (-67.2%), from €9,099 to €2,984
- Financial charges -€926
down €926 (-12.2%), from €7,614 to €6,688
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 | €249,867 | €233,346 | -€16,521 | -6.6% |
| Fixed assets | 21/28 | €68,776 | €45,585 | -€23,191 | -33.7% |
| Tangible fixed assets | 22/27 | €68,776 | €45,585 | -€23,191 | -33.7% |
| Plant, machinery and equipment | 23 | €60,549 | €42,116 | -€18,432 | -30.4% |
| Furniture and vehicles | 24 | €5,849 | €3,469 | -€2,380 | -40.7% |
| Other tangible fixed assets | 26 | €2,379 | - | -€2,379 | |
| Current assets | 29/58 | €181,091 | €187,761 | +€6,670 | +3.7% |
| Stocks and contracts in progress | 3 | €11,046 | €9,546 | -€1,499 | -13.6% |
| Stocks | 30/36 | €11,046 | €9,546 | -€1,499 | -13.6% |
| Amounts receivable within one year | 40/41 | €36,609 | €15,399 | -€21,210 | -57.9% |
| Trade receivables | 40 | €35,665 | €12,483 | -€23,182 | -65.0% |
| Other amounts receivable | 41 | €944 | €2,917 | +€1,972 | +208.9% |
| Cash at bank and in hand | 54/58 | €133,436 | €160,145 | +€26,709 | +20.0% |
| Deferred charges and accrued income | 490/1 | - | €2,670 | +€2,670 | |
| Total equity and liabilities | 10/49 | €249,867 | €233,346 | -€16,521 | -6.6% |
| Equity | 10/15 | €111,570 | €112,873 | +€1,303 | +1.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €71,570 | €72,873 | +€1,303 | +1.8% |
| Distributable reserves | 133 | €71,570 | €72,873 | +€1,303 | +1.8% |
| Amounts payable | 17/49 | €138,296 | €120,473 | -€17,824 | -12.9% |
| Amounts payable after more than one year | 17 | €61,862 | €55,136 | -€6,727 | -10.9% |
| Financial debts | 170/4 | €61,862 | €55,136 | -€6,727 | -10.9% |
| Amounts payable within one year | 42/48 | €71,988 | €61,497 | -€10,491 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €6,903 | €6,727 | -€177 | -2.6% |
| Trade debts | 44 | €4,503 | €2,597 | -€1,907 | -42.3% |
| Suppliers | 440/4 | €4,503 | €2,597 | -€1,907 | -42.3% |
| Taxes, remuneration and social security | 45 | €2,754 | €1,518 | -€1,235 | -44.9% |
| Taxes | 450/3 | €2,754 | €1,518 | -€1,235 | -44.9% |
| Other amounts payable | 47/48 | €57,827 | €50,655 | -€7,172 | -12.4% |
| Accrued charges and deferred income | 492/3 | €4,446 | €3,840 | -€606 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,777 | €23,191 | -€7,587 | -24.6% |
| Other operating charges | 640/8 | €674 | €737 | +€63 | +9.3% |
| Gross operating margin | 9900 | €66,650 | €34,745 | -€31,905 | -47.9% |
| Operating profit (loss) | 9901 | €35,198 | €10,817 | -€24,381 | -69.3% |
| Financial income | 75/76B | €289 | €158 | -€131 | -45.5% |
| Recurring financial income | 75 | €289 | €158 | -€131 | -45.5% |
| Financial charges | 65/66B | €7,614 | €6,688 | -€926 | -12.2% |
| Recurring financial charges | 65 | €7,614 | €6,688 | -€926 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €27,873 | €4,287 | -€23,586 | -84.6% |
| Income taxes | 67/77 | €9,099 | €2,984 | -€6,115 | -67.2% |
| Profit (loss) for the period | 9904 | €18,774 | €1,303 | -€17,471 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,774 | €1,303 | -€17,471 | -93.1% |
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 11 October 2026 via checked.be.