S & C INVEST: 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 & C INVEST
Largest movements
- Tangible fixed assets +€716,551
up €716,551 (+80.9%), from €886,083 to €1.6m
of which Land and buildings: +€768,224
- Cash +€334,657
up €334,657 (+12,960%), from €2,582 to €337,239
mainly Debts after one year (+€737,623) and Advances received (+€300,000)
- Receivables within one year +€21,211
up €21,211 (+120%), from €17,691 to €38,902
- Debts after one year +€737,623
up €737,623 (+95.0%), from €776,059 to €1.5m
- Advances received +€300,000
new in 2025: €300,000
- Current portion of long-term debt +€21,275
up €21,275 (+89.1%), from €23,866 to €45,140
- Financial income +€37,534
up €37,534 (+54.5%), from €68,861 to €106,394
- Financial charges +€24,576
up €24,576 (+119%), from €20,610 to €45,186
- Gross operating margin -€3,173
down €3,173 (-19.8%), from -€16,039 to -€19,212
- Depreciation +€1,916
up €1,916 (+6.2%), from €31,021 to €32,937
- Other operating charges +€1,589
new in 2025: €1,589
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 | €919,275 | €2,004,096 | +€1.1m | +118% |
| Fixed assets | 21/28 | €899,002 | €1,615,553 | +€716,551 | +79.7% |
| Tangible fixed assets | 22/27 | €886,083 | €1,602,633 | +€716,551 | +80.9% |
| Land and buildings | 22 | €766,795 | €1,535,019 | +€768,224 | +100% |
| Other tangible fixed assets | 26 | €119,287 | €67,614 | -€51,673 | -43.3% |
| Financial fixed assets | 28 | €12,919 | €12,919 | = | 0.0% |
| Current assets | 29/58 | €20,273 | €388,543 | +€368,270 | +1,817% |
| Amounts receivable within one year | 40/41 | €17,691 | €38,902 | +€21,211 | +120% |
| Trade receivables | 40 | €17,691 | €38,902 | +€21,211 | +120% |
| Cash at bank and in hand | 54/58 | €2,582 | €337,239 | +€334,657 | +12,960% |
| Deferred charges and accrued income | 490/1 | - | €12,402 | +€12,402 | |
| Total equity and liabilities | 10/49 | €919,275 | €2,004,096 | +€1.1m | +118% |
| Equity | 10/15 | €99,662 | €107,133 | +€7,470 | +7.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,662 | €15,133 | +€7,470 | +97.5% |
| Amounts payable | 17/49 | €819,612 | €1,896,963 | +€1.1m | +131% |
| Amounts payable after more than one year | 17 | €776,059 | €1,513,682 | +€737,623 | +95.0% |
| Financial debts | 170/4 | €776,059 | €1,513,682 | +€737,623 | +95.0% |
| Amounts payable within one year | 42/48 | €43,553 | €383,281 | +€339,728 | +780% |
| Current portion of amounts payable after more than one year | 42 | €23,866 | €45,140 | +€21,275 | +89.1% |
| Trade debts | 44 | €250 | - | -€250 | |
| Suppliers | 440/4 | €250 | - | -€250 | |
| Advances received on contracts in progress | 46 | - | €300,000 | +€300,000 | |
| Other amounts payable | 47/48 | €19,438 | €38,141 | +€18,703 | +96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,021 | €32,937 | +€1,916 | +6.2% |
| Other operating charges | 640/8 | - | €1,589 | +€1,589 | |
| Gross operating margin | 9900 | -€16,039 | -€19,212 | -€3,173 | -19.8% |
| Operating profit (loss) | 9901 | -€47,060 | -€53,738 | -€6,678 | -14.2% |
| Financial income | 75/76B | €68,861 | €106,394 | +€37,534 | +54.5% |
| Recurring financial income | 75 | €68,861 | €106,394 | +€37,534 | +54.5% |
| Financial charges | 65/66B | €20,610 | €45,186 | +€24,576 | +119% |
| Recurring financial charges | 65 | €20,610 | €45,186 | +€24,576 | +119% |
| Profit (loss) for the period before taxes | 9903 | €1,191 | €7,470 | +€6,280 | +527% |
| Profit (loss) for the period | 9904 | €1,191 | €7,470 | +€6,280 | +527% |
| Profit (loss) for the period to be appropriated | 9905 | €1,191 | €7,470 | +€6,280 | +527% |
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 31 October 2026 via checked.be.