S.C.E.: what changed
Two fiscal 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.
What changed
S.C.E.
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.3m-€134,769
Equity
€7.2m
2024 · €6.3m+€900,856
Cash
€969,867
2024 · €330,598+€639,270
Balance sheet total
€21.1m
2024 · €25.8m-€4.7m
Largest movements
Assets
- Stocks and contracts -€7.3m
down €7.3m (-53.7%), from €13.6m to €6.3m
of which Contracts in progress: -€7.1m
- Current investments +€2.3m
up €2.3m (+109.9%), from €2.1m to €4.4m
- Cash +€639,270
up €639,270 (+193.4%), from €330,598 to €969,867
mainly Stocks and contracts (+€7.3m) and Net result for the year (+€1.2m)
Equity and liabilities
- Trade debts -€5.4m
down €5.4m (-32.2%), from €16.7m to €11.3m
- Short-term financial debts -€900,000
down €900,000 (-100.0%), from €900,000 to €0
- Profit (loss) carried forward +€737,756
up €737,756 (+71.0%), from €1.0m to €1.8m
- Advances received +€611,334
up €611,334 (+89.3%), from €684,844 to €1.3m
Income statement
- Turnover +€13.2m
up €13.2m (+63.9%), from €20.7m to €34.0m
- Services and other goods +€1.1m
up €1.1m (+35.8%), from €3.1m to €4.3m
- Goods and materials +€641,016
up €641,016 (+3.5%), from €18.3m to €18.9m
of which Purchases: +€561,548
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.
Result 2024
€1.3m
Turnover
+€13.2m
Other operating income
-€1,921
Goods and materials
-€641,016
Services and other goods
-€1.1m
Staff costs
-€266,819
Depreciation
+€13,719
Provisions
+€256
Other operating charges
-€9,835
Other operating items
-€11.0m
Financial income
-€12,607
Financial charges
-€210,387
Taxes
-€101,735
Result 2025
€1.2m
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.
From operations
+€4.5m
Investment
-€2.4m
Financing
-€1.4m
Cash 2024
€330,598
From operations (derived)
+€4.5m
Net result for the year
+€1.2m
Depreciation
+€260,518
Stocks and contracts
+€7.3m
Receivables within one year
+€253,513
Deferred charges and accrued income
+€7,334
Trade debts
-€5.4m
Tax, wage and social debts
+€179,943
Advances received
+€611,334
Other debts
+€110,000
Accrued charges and deferred income
-€21,117
Investment (derived)
-€2.4m
Investment in fixed assets (net)
-€127,190
Current investments
-€2.3m
Financing
-€1.4m
Debts after one year
-€201,099
Current portion of long-term debt
-€14,303
Short-term financial debts
-€900,000
Contributions, distributions and other
-€300,000
Cash 2025
€969,867
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,837,922 | €21,122,324 | -€4.7m | -18.3% |
| Fixed assets | 21/28 | €2,408,085 | €2,274,758 | -€133,327 | -5.5% |
| Intangible fixed assets | 21 | €62,199 | €82,634 | +€20,435 | +32.9% |
| Tangible fixed assets | 22/27 | €2,345,886 | €2,192,124 | -€153,762 | -6.6% |
| Land and buildings | 22 | €1,885,975 | €1,764,636 | -€121,339 | -6.4% |
| Plant, machinery and equipment | 23 | €449,101 | €421,499 | -€27,602 | -6.1% |
| Furniture and vehicles | 24 | €10,810 | €5,990 | -€4,821 | -44.6% |
| Current assets | 29/58 | €23,429,837 | €18,847,566 | -€4.6m | -19.6% |
| Stocks and contracts in progress | 3 | €13,568,699 | €6,286,109 | -€7.3m | -53.7% |
| Stocks | 30/36 | €218,280 | €0 | -€218,280 | -100.0% |
| Raw materials and consumables | 30/31 | €218,280 | €0 | -€218,280 | -100.0% |
| Contracts in progress | 37 | €13,350,419 | €6,286,109 | -€7.1m | -52.9% |
| Amounts receivable within one year | 40/41 | €7,312,663 | €7,059,150 | -€253,513 | -3.5% |
| Trade receivables | 40 | €3,753,030 | €2,016,890 | -€1.7m | -46.3% |
| Other amounts receivable | 41 | €3,559,633 | €5,042,260 | +€1.5m | +41.7% |
| Current investments | 50/53 | €2,113,525 | €4,435,420 | +€2.3m | +109.9% |
| Other investments | 51/53 | €2,113,525 | €4,435,420 | +€2.3m | +109.9% |
| Cash at bank and in hand | 54/58 | €330,598 | €969,867 | +€639,270 | +193.4% |
| Deferred charges and accrued income | 490/1 | €104,353 | €97,019 | -€7,334 | -7.0% |
| Total equity and liabilities | 10/49 | €25,837,922 | €21,122,324 | -€4.7m | -18.3% |
| Equity | 10/15 | €6,307,133 | €7,207,989 | +€900,856 | +14.3% |
| Contributions | 10/11 | €666,102 | €666,102 | = | 0.0% |
| Capital | 10 | €666,102 | €666,102 | = | 0.0% |
| Issued capital | 100 | €666,102 | €666,102 | = | 0.0% |
| Reserves | 13 | €4,601,357 | €4,764,457 | +€163,100 | +3.5% |
| Non-distributable reserves | 130/1 | €68,345 | €68,345 | = | 0.0% |
| Legal reserve | 130 | €66,610 | €66,610 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,735 | €1,735 | = | 0.0% |
| Tax-exempt reserves | 132 | €631,500 | €1,094,600 | +€463,100 | +73.3% |
| Distributable reserves | 133 | €3,901,512 | €3,601,512 | -€300,000 | -7.7% |
| Profit (loss) carried forward | 14 | €1,039,674 | €1,777,430 | +€737,756 | +71.0% |
| Provisions and deferred taxes | 16 | €11,226 | €11,226 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €11,226 | €11,226 | = | 0.0% |
| Pensions and similar obligations | 160 | €11,226 | €11,226 | = | 0.0% |
| Amounts payable | 17/49 | €19,519,563 | €13,903,108 | -€5.6m | -28.8% |
| Amounts payable after more than one year | 17 | €560,957 | €359,859 | -€201,099 | -35.8% |
| Financial debts | 170/4 | €560,957 | €359,859 | -€201,099 | -35.8% |
| Credit institutions | 173 | €560,957 | €359,859 | -€201,099 | -35.8% |
| Amounts payable within one year | 42/48 | €18,857,670 | €13,463,432 | -€5.4m | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €215,402 | €201,099 | -€14,303 | -6.6% |
| Financial debts | 43 | €900,000 | €0 | -€900,000 | -100.0% |
| Credit institutions | 430/8 | €900,000 | €0 | -€900,000 | -100.0% |
| Trade debts | 44 | €16,727,525 | €11,346,314 | -€5.4m | -32.2% |
| Suppliers | 440/4 | €16,727,525 | €11,346,314 | -€5.4m | -32.2% |
| Advances received on contracts in progress | 46 | €684,844 | €1,296,177 | +€611,334 | +89.3% |
| Taxes, remuneration and social security | 45 | €329,899 | €509,842 | +€179,943 | +54.5% |
| Taxes | 450/3 | €58,870 | €184,136 | +€125,265 | +212.8% |
| Remuneration and social security | 454/9 | €271,029 | €325,707 | +€54,678 | +20.2% |
| Other amounts payable | 47/48 | - | €110,000 | +€110,000 | |
| Accrued charges and deferred income | 492/3 | €100,936 | €79,818 | -€21,117 | -20.9% |
| Operating income | 70/76A | €24,860,041 | €27,081,059 | +€2.2m | +8.9% |
| Turnover | 70 | €20,717,475 | €33,957,105 | +€13.2m | +63.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €3,949,929 | -€7,064,309 | -€11.0m | |
| Own construction capitalised | 72 | €2,453 | €0 | -€2,453 | -100.0% |
| Other operating income | 74 | €190,185 | €188,264 | -€1,921 | -1.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €23,452,518 | €25,483,577 | +€2.0m | +8.7% |
| Goods for resale, raw materials and consumables | 60 | €18,308,139 | €18,949,155 | +€641,016 | +3.5% |
| Purchases | 600/8 | €18,169,326 | €18,730,875 | +€561,548 | +3.1% |
| Change in stocks: decrease (increase) | 609 | €138,812 | €218,280 | +€79,468 | +57.2% |
| Services and other goods | 61 | €3,146,684 | €4,274,047 | +€1.1m | +35.8% |
| Remuneration, social security and pensions | 62 | €1,668,993 | €1,935,813 | +€266,819 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €274,237 | €260,518 | -€13,719 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €256 | €0 | -€256 | -100.0% |
| Other operating charges | 640/8 | €54,210 | €64,045 | +€9,835 | +18.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €1,407,523 | €1,597,482 | +€189,959 | +13.5% |
| Financial income | 75/76B | €359,916 | €347,309 | -€12,607 | -3.5% |
| Recurring financial income | 75 | €359,916 | €347,309 | -€12,607 | -3.5% |
| Income from financial fixed assets | 750 | €10,887 | €0 | -€10,887 | -100.0% |
| Income from current assets | 751 | €71,907 | €81,889 | +€9,982 | +13.9% |
| Other financial income | 752/9 | €277,121 | €265,420 | -€11,701 | -4.2% |
| Financial charges | 65/66B | €277,295 | €487,682 | +€210,387 | +75.9% |
| Recurring financial charges | 65 | €277,295 | €487,682 | +€210,387 | +75.9% |
| Debt charges | 650 | €55,492 | €52,879 | -€2,613 | -4.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€28,537 | €9,201 | +€37,738 | |
| Other financial charges | 652/9 | €250,341 | €425,603 | +€175,262 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | €1,490,144 | €1,457,110 | -€33,035 | -2.2% |
| Income taxes | 67/77 | €154,519 | €256,254 | +€101,735 | +65.8% |
| Taxes | 670/3 | €154,519 | €256,254 | +€101,735 | +65.8% |
| Profit (loss) for the period | 9904 | €1,335,626 | €1,200,856 | -€134,769 | -10.1% |
| Transfer to tax-exempt reserves | 689 | €631,500 | €463,100 | -€168,400 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €704,126 | €737,756 | +€33,631 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.