S-BOX: what changed
S-BOX
Largest movements
- Cash -€67,139
down €67,139 (-41.8%), from €160,738 to €93,599
mainly Receivables within one year (-€40,803) and Investment in fixed assets (net) (-€39,893)
- Receivables within one year +€40,803
up €40,803 (+171%), from €23,872 to €64,676
of which Trade receivables: +€37,196
- Tangible fixed assets +€35,202
up €35,202 (+277%), from €12,705 to €47,907
of which Furniture and vehicles: +€36,402
- Reserves +€32,893
up €32,893 (+31.2%), from €105,430 to €138,322
- Tax, wage and social debts -€26,340
no longer reported in 2025 (was €26,340)
- Trade debts +€3,864
up €3,864 (+374%), from €1,033 to €4,898
- Accrued charges and deferred income -€2,685
down €2,685 (-38.4%), from €7,000 to €4,315
- Write-downs +€49,562
no longer reported in 2025 (was -€49,562)
- Gross operating margin +€23,866
up €23,866 (+71.1%), from €33,575 to €57,441
- Taxes -€9,728
down €9,728 (-36.9%), from €26,340 to €16,612
- Depreciation +€3,125
up €3,125 (+200%), from €1,566 to €4,691
- Other operating charges +€1,371
up €1,371 (+59.9%), from €2,289 to €3,660
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 | €198,654 | €206,387 | +€7,733 | +3.9% |
| Fixed assets | 21/28 | €12,705 | €47,907 | +€35,202 | +277% |
| Tangible fixed assets | 22/27 | €12,705 | €47,907 | +€35,202 | +277% |
| Plant, machinery and equipment | 23 | €10,675 | €9,475 | -€1,200 | -11.2% |
| Furniture and vehicles | 24 | €2,030 | €38,432 | +€36,402 | +1,793% |
| Current assets | 29/58 | €185,949 | €158,480 | -€27,469 | -14.8% |
| Amounts receivable within one year | 40/41 | €23,872 | €64,676 | +€40,803 | +171% |
| Trade receivables | 40 | €22,080 | €59,276 | +€37,196 | +168% |
| Other amounts receivable | 41 | €1,793 | €5,400 | +€3,607 | +201% |
| Cash at bank and in hand | 54/58 | €160,738 | €93,599 | -€67,139 | -41.8% |
| Deferred charges and accrued income | 490/1 | €1,339 | €205 | -€1,134 | -84.7% |
| Total equity and liabilities | 10/49 | €198,654 | €206,387 | +€7,733 | +3.9% |
| Equity | 10/15 | €119,690 | €152,582 | +€32,893 | +27.5% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €105,430 | €138,322 | +€32,893 | +31.2% |
| Distributable reserves | 133 | €105,430 | €138,322 | +€32,893 | +31.2% |
| Amounts payable | 17/49 | €78,964 | €53,804 | -€25,160 | -31.9% |
| Amounts payable within one year | 42/48 | €71,964 | €49,489 | -€22,475 | -31.2% |
| Trade debts | 44 | €1,033 | €4,898 | +€3,864 | +374% |
| Suppliers | 440/4 | €1,033 | €4,898 | +€3,864 | +374% |
| Taxes, remuneration and social security | 45 | €26,340 | - | -€26,340 | |
| Taxes | 450/3 | €26,340 | - | -€26,340 | |
| Other amounts payable | 47/48 | €44,591 | €44,591 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,000 | €4,315 | -€2,685 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,566 | €4,691 | +€3,125 | +200% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€49,562 | - | +€49,562 | |
| Other operating charges | 640/8 | €2,289 | €3,660 | +€1,371 | +59.9% |
| Gross operating margin | 9900 | €33,575 | €57,441 | +€23,866 | +71.1% |
| Operating profit (loss) | 9901 | €79,282 | €49,089 | -€30,192 | -38.1% |
| Financial income | 75/76B | €116 | €454 | +€338 | +291% |
| Recurring financial income | 75 | €116 | €454 | +€338 | +291% |
| Financial charges | 65/66B | €39 | €39 | +€0 | +0.1% |
| Recurring financial charges | 65 | €39 | €39 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €79,359 | €49,505 | -€29,854 | -37.6% |
| Income taxes | 67/77 | €26,340 | €16,612 | -€9,728 | -36.9% |
| Profit (loss) for the period | 9904 | €53,019 | €32,893 | -€20,126 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,019 | €32,893 | -€20,126 | -38.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.