S-Building: what changed
S-Building
Largest movements
- Tangible fixed assets -€356,562
down €356,562 (-91.3%), from €390,626 to €34,064
of which Land and buildings: -€341,251
- Cash +€91,831
up €91,831 (+361%), from €25,440 to €117,271
mainly Investment in fixed assets (net) (+€341,251) and Other debts (+€77,854)
- Stocks and contracts -€45,413
down €45,413 (-41.3%), from €109,833 to €64,420
- Receivables within one year -€38,637
down €38,637 (-38.3%), from €101,007 to €62,370
of which Other amounts receivable: -€61,086
- Receivables after one year -€19,120
down €19,120 (-16.1%), from €119,120 to €100,000
- Debts after one year -€206,887
no longer reported in 2025 (was €206,887)
- Other debts +€77,854
up €77,854 (+467%), from €16,671 to €94,525
- Reserves -€68,936
down €68,936 (-23.9%), from €288,636 to €219,700
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Trade debts -€43,054
down €43,054 (-33.7%), from €127,918 to €84,864
- Gross operating margin -€90,646
down €90,646 (-36.4%), from €248,836 to €158,191
- Taxes -€17,815
down €17,815 (-89.2%), from €19,965 to €2,150
- Financial charges +€4,903
up €4,903 (+74.1%), from €6,613 to €11,515
- Financial income -€3,806
down €3,806 (-97.1%), from €3,919 to €113
- Staff costs -€2,532
down €2,532 (-1.5%), from €173,004 to €170,472
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 | €772,223 | €387,898 | -€384,325 | -49.8% |
| Fixed assets | 21/28 | €390,626 | €34,064 | -€356,562 | -91.3% |
| Tangible fixed assets | 22/27 | €390,626 | €34,064 | -€356,562 | -91.3% |
| Land and buildings | 22 | €341,251 | - | -€341,251 | |
| Plant, machinery and equipment | 23 | €36,516 | €26,635 | -€9,882 | -27.1% |
| Furniture and vehicles | 24 | €12,858 | €7,430 | -€5,429 | -42.2% |
| Current assets | 29/58 | €381,597 | €353,833 | -€27,763 | -7.3% |
| Amounts receivable after more than one year | 29 | €119,120 | €100,000 | -€19,120 | -16.1% |
| Other amounts receivable | 291 | €119,120 | €100,000 | -€19,120 | -16.1% |
| Stocks and contracts in progress | 3 | €109,833 | €64,420 | -€45,413 | -41.3% |
| Contracts in progress | 37 | €109,833 | €64,420 | -€45,413 | -41.3% |
| Amounts receivable within one year | 40/41 | €101,007 | €62,370 | -€38,637 | -38.3% |
| Trade receivables | 40 | €15,464 | €37,913 | +€22,449 | +145% |
| Other amounts receivable | 41 | €85,543 | €24,457 | -€61,086 | -71.4% |
| Cash at bank and in hand | 54/58 | €25,440 | €117,271 | +€91,831 | +361% |
| Deferred charges and accrued income | 490/1 | €26,196 | €9,772 | -€16,424 | -62.7% |
| Total equity and liabilities | 10/49 | €772,223 | €387,898 | -€384,325 | -49.8% |
| Equity | 10/15 | €307,236 | €198,627 | -€108,609 | -35.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €288,636 | €219,700 | -€68,936 | -23.9% |
| Distributable reserves | 133 | €288,636 | €219,700 | -€68,936 | -23.9% |
| Profit (loss) carried forward | 14 | - | -€39,673 | -€39,673 | |
| Amounts payable | 17/49 | €464,987 | €189,271 | -€275,717 | -59.3% |
| Amounts payable after more than one year | 17 | €206,887 | - | -€206,887 | |
| Financial debts | 170/4 | €206,887 | - | -€206,887 | |
| Amounts payable within one year | 42/48 | €258,100 | €188,224 | -€69,876 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €21,185 | - | -€21,185 | |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Other loans | 439 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €127,918 | €84,864 | -€43,054 | -33.7% |
| Suppliers | 440/4 | €127,918 | €84,864 | -€43,054 | -33.7% |
| Taxes, remuneration and social security | 45 | €42,326 | €8,835 | -€33,491 | -79.1% |
| Taxes | 450/3 | €17,126 | €414 | -€16,712 | -97.6% |
| Remuneration and social security | 454/9 | €25,200 | €8,421 | -€16,779 | -66.6% |
| Other amounts payable | 47/48 | €16,671 | €94,525 | +€77,854 | +467% |
| Accrued charges and deferred income | 492/3 | - | €1,046 | +€1,046 | |
| Non-recurring operating income | 76A | €6,000 | €40,855 | +€34,855 | +581% |
| Remuneration, social security and pensions | 62 | €173,004 | €170,472 | -€2,532 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,438 | €15,311 | -€2,127 | -12.2% |
| Other operating charges | 640/8 | €3,955 | €2,888 | -€1,066 | -27.0% |
| Gross operating margin | 9900 | €248,836 | €158,191 | -€90,646 | -36.4% |
| Operating profit (loss) | 9901 | €54,440 | -€30,481 | -€84,920 | |
| Financial income | 75/76B | €3,919 | €113 | -€3,806 | -97.1% |
| Recurring financial income | 75 | €3,919 | €113 | -€3,806 | -97.1% |
| Financial charges | 65/66B | €6,613 | €11,515 | +€4,903 | +74.1% |
| Recurring financial charges | 65 | €6,613 | €11,515 | +€4,903 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | €51,746 | -€41,883 | -€93,629 | |
| Income taxes | 67/77 | €19,965 | €2,150 | -€17,815 | -89.2% |
| Profit (loss) for the period | 9904 | €31,781 | -€44,033 | -€75,814 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,781 | -€44,033 | -€75,814 |
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 8 November 2026 via checked.be.