S.B. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Current investments +€1.8m
up €1.8m (+227%), from €780,956 to €2.6m
- Financial fixed assets -€881,280
down €881,280 (-88.7%), from €993,412 to €112,132
- Receivables within one year -€469,879
down €469,879 (-62.8%), from €748,176 to €278,297
of which Other amounts receivable: -€419,000
- Cash -€208,416
down €208,416 (-99.3%), from €209,829 to €1,413
mainly Current investments (-€1.8m) and Contributions, distributions and other (-€430,820)
- Other debts +€207,393
up €207,393 (+73.6%), from €281,649 to €489,042
- Advances received +€48,000
new in 2025: €48,000
- Trade debts -€44,391
down €44,391 (-94.0%), from €47,214 to €2,823
- Reserves -€30,000
down €30,000 (-1.5%), from €2.0m to €2.0m
of which Distributable reserves: -€30,000
- Financial income +€238,661
up €238,661 (+107%), from €222,938 to €461,599
- Gross operating margin -€48,056
down €48,056 (-53.3%), from €90,139 to €42,083
- Taxes +€11,511
up €11,511 (+26.4%), from €43,684 to €55,195
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 | €2,789,696 | €2,976,206 | +€186,511 | +6.7% |
| Fixed assets | 21/28 | €1,039,502 | €130,339 | -€909,163 | -87.5% |
| Tangible fixed assets | 22/27 | €46,090 | €18,206 | -€27,883 | -60.5% |
| Furniture and vehicles | 24 | €46,090 | €18,206 | -€27,883 | -60.5% |
| Financial fixed assets | 28 | €993,412 | €112,132 | -€881,280 | -88.7% |
| Current assets | 29/58 | €1,750,194 | €2,845,868 | +€1.1m | +62.6% |
| Amounts receivable within one year | 40/41 | €748,176 | €278,297 | -€469,879 | -62.8% |
| Trade receivables | 40 | €63,176 | €12,297 | -€50,879 | -80.5% |
| Other amounts receivable | 41 | €685,000 | €266,000 | -€419,000 | -61.2% |
| Current investments | 50/53 | €780,956 | €2,556,323 | +€1.8m | +227% |
| Cash at bank and in hand | 54/58 | €209,829 | €1,413 | -€208,416 | -99.3% |
| Deferred charges and accrued income | 490/1 | €11,232 | €9,835 | -€1,397 | -12.4% |
| Total equity and liabilities | 10/49 | €2,789,696 | €2,976,206 | +€186,511 | +6.7% |
| Equity | 10/15 | €2,368,241 | €2,355,899 | -€12,342 | -0.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,025,000 | €1,995,000 | -€30,000 | -1.5% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €15,000 | +€15,000 | |
| Other | 1319 | €15,000 | - | -€15,000 | |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €1,995,000 | €1,965,000 | -€30,000 | -1.5% |
| Profit (loss) carried forward | 14 | €193,241 | €210,899 | +€17,658 | +9.1% |
| Provisions and deferred taxes | 16 | €36,107 | €36,107 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €36,107 | €36,107 | = | 0.0% |
| Pensions and similar obligations | 160 | €36,107 | €36,107 | = | 0.0% |
| Amounts payable | 17/49 | €385,347 | €584,201 | +€198,853 | +51.6% |
| Amounts payable after more than one year | 17 | €8,340 | €0 | -€8,340 | -100% |
| Financial debts | 170/4 | €8,340 | €0 | -€8,340 | -100% |
| Amounts payable within one year | 42/48 | €364,075 | €582,764 | +€218,689 | +60.1% |
| Current portion of amounts payable after more than one year | 42 | €14,189 | €8,340 | -€5,849 | -41.2% |
| Trade debts | 44 | €47,214 | €2,823 | -€44,391 | -94.0% |
| Suppliers | 440/4 | €47,214 | €2,823 | -€44,391 | -94.0% |
| Advances received on contracts in progress | 46 | - | €48,000 | +€48,000 | |
| Taxes, remuneration and social security | 45 | €21,023 | €34,559 | +€13,536 | +64.4% |
| Taxes | 450/3 | €21,023 | €34,559 | +€13,536 | +64.4% |
| Other amounts payable | 47/48 | €281,649 | €489,042 | +€207,393 | +73.6% |
| Accrued charges and deferred income | 492/3 | €12,933 | €1,436 | -€11,497 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,104 | €27,883 | +€779 | +2.9% |
| Other operating charges | 640/8 | €1,637 | €1,573 | -€64 | -3.9% |
| Gross operating margin | 9900 | €90,139 | €42,083 | -€48,056 | -53.3% |
| Operating profit (loss) | 9901 | €61,398 | €12,627 | -€48,771 | -79.4% |
| Financial income | 75/76B | €222,938 | €461,599 | +€238,661 | +107% |
| Recurring financial income | 75 | €222,938 | €461,599 | +€238,661 | +107% |
| Financial charges | 65/66B | €642 | €554 | -€88 | -13.7% |
| Recurring financial charges | 65 | €642 | €554 | -€88 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €283,694 | €473,672 | +€189,979 | +67.0% |
| Income taxes | 67/77 | €43,684 | €55,195 | +€11,511 | +26.4% |
| Profit (loss) for the period | 9904 | €240,010 | €418,478 | +€178,467 | +74.4% |
| Profit (loss) for the period to be appropriated | 9905 | €240,010 | €418,478 | +€178,467 | +74.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.