S Builds: 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 Builds
Largest movements
- Cash +€45,414
up €45,414 (+1,255%), from €3,620 to €49,034
mainly Trade debts (+€25,913) and Net result for the year (+€22,685)
- Tangible fixed assets -€7,488
down €7,488 (-4.3%), from €173,895 to €166,408
of which Leasing and similar rights: -€5,710
- Trade debts +€25,913
up €25,913 (+322%), from €8,059 to €33,971
- Other debts +€14,000
new in 2025: €14,000
- Debts after one year -€13,895
down €13,895 (-13.4%), from €103,838 to €89,943
- Tax, wage and social debts +€7,655
up €7,655 (+77.3%), from €9,903 to €17,558
- Gross operating margin +€9,706
up €9,706 (+31.0%), from €31,357 to €41,063
- Other operating charges -€6,252
down €6,252 (-92.2%), from €6,781 to €529
- Depreciation +€4,509
up €4,509 (+98.6%), from €4,571 to €9,080
- Taxes +€1,725
up €1,725 (+35.0%), from €4,925 to €6,650
- Financial charges -€1,228
down €1,228 (-21.2%), from €5,796 to €4,568
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 | €257,714 | €295,797 | +€38,084 | +14.8% |
| Fixed assets | 21/28 | €174,180 | €166,693 | -€7,488 | -4.3% |
| Tangible fixed assets | 22/27 | €173,895 | €166,408 | -€7,488 | -4.3% |
| Land and buildings | 22 | €146,300 | €143,000 | -€3,300 | -2.3% |
| Plant, machinery and equipment | 23 | - | €768 | +€768 | |
| Furniture and vehicles | 24 | €57 | €812 | +€755 | +1,315% |
| Leasing and similar rights | 25 | €27,538 | €21,827 | -€5,710 | -20.7% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €83,533 | €129,105 | +€45,571 | +54.6% |
| Amounts receivable within one year | 40/41 | €76,451 | €77,068 | +€617 | +0.8% |
| Trade receivables | 40 | €21,411 | €22,070 | +€660 | +3.1% |
| Other amounts receivable | 41 | €55,041 | €54,998 | -€43 | -0.1% |
| Cash at bank and in hand | 54/58 | €3,620 | €49,034 | +€45,414 | +1,255% |
| Deferred charges and accrued income | 490/1 | €3,462 | €3,003 | -€460 | -13.3% |
| Total equity and liabilities | 10/49 | €257,714 | €295,797 | +€38,084 | +14.8% |
| Equity | 10/15 | €123,102 | €125,786 | +€2,685 | +2.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €36,954 | €36,954 | = | 0.0% |
| Distributable reserves | 133 | €36,954 | €36,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,087 | €80,772 | +€2,685 | +3.4% |
| Amounts payable | 17/49 | €134,612 | €170,011 | +€35,399 | +26.3% |
| Amounts payable after more than one year | 17 | €103,838 | €89,943 | -€13,895 | -13.4% |
| Financial debts | 170/4 | €103,838 | €89,943 | -€13,895 | -13.4% |
| Amounts payable within one year | 42/48 | €30,774 | €80,068 | +€49,294 | +160% |
| Current portion of amounts payable after more than one year | 42 | €12,812 | €14,538 | +€1,726 | +13.5% |
| Trade debts | 44 | €8,059 | €33,971 | +€25,913 | +322% |
| Suppliers | 440/4 | €8,059 | €33,971 | +€25,913 | +322% |
| Taxes, remuneration and social security | 45 | €9,903 | €17,558 | +€7,655 | +77.3% |
| Taxes | 450/3 | €9,903 | €17,558 | +€7,655 | +77.3% |
| Other amounts payable | 47/48 | - | €14,000 | +€14,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,571 | €9,080 | +€4,509 | +98.6% |
| Other operating charges | 640/8 | €6,781 | €529 | -€6,252 | -92.2% |
| Gross operating margin | 9900 | €31,357 | €41,063 | +€9,706 | +31.0% |
| Operating profit (loss) | 9901 | €20,004 | €31,454 | +€11,450 | +57.2% |
| Financial income | 75/76B | €2,655 | €2,449 | -€206 | -7.8% |
| Recurring financial income | 75 | €2,655 | €2,449 | -€206 | -7.8% |
| Financial charges | 65/66B | €5,796 | €4,568 | -€1,228 | -21.2% |
| Recurring financial charges | 65 | €5,796 | €4,568 | -€1,228 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €16,863 | €29,335 | +€12,471 | +74.0% |
| Income taxes | 67/77 | €4,925 | €6,650 | +€1,725 | +35.0% |
| Profit (loss) for the period | 9904 | €11,938 | €22,685 | +€10,747 | +90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,938 | €22,685 | +€10,747 | +90.0% |
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 22 October 2026 via checked.be.