S.C.O.: 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.O.
Largest movements
- Cash +€62,791
up €62,791 (+232.3%), from €27,025 to €89,816
mainly Depreciation (+€37,093) and Net result for the year (+€33,920)
- Receivables within one year +€15,771
new in 2025: €15,771
- Tangible fixed assets -€11,717
down €11,717 (-1.9%), from €626,944 to €615,227
of which Land and buildings: -€13,539
- Profit (loss) carried forward +€33,920
up €33,920, from -€8,755 to €25,165
- Investment grants +€32,452
new in 2025: €32,452
- Debts after one year -€29,897
down €29,897 (-6.1%), from €487,221 to €457,324
of which Financial debts: -€30,617
- Trade debts +€17,090
up €17,090 (+4814.1%), from €355 to €17,445
- Provisions +€10,817
new in 2025: €10,817
- Gross operating margin +€38,487
up €38,487 (+82.3%), from €46,748 to €85,235
- Depreciation +€8,449
up €8,449 (+29.5%), from €28,644 to €37,093
- Financial income +€4,636
new in 2025: €4,636
- Financial charges -€3,742
down €3,742 (-17.0%), from €22,055 to €18,313
- Other operating charges -€1,036
down €1,036 (-33.1%), from €3,126 to €2,090
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €654,557 | €720,999 | +€66,442 | +10.2% |
| Fixed assets | 21/28 | €626,944 | €615,227 | -€11,717 | -1.9% |
| Tangible fixed assets | 22/27 | €626,944 | €615,227 | -€11,717 | -1.9% |
| Land and buildings | 22 | €618,232 | €604,693 | -€13,539 | -2.2% |
| Plant, machinery and equipment | 23 | - | €4,320 | +€4,320 | |
| Furniture and vehicles | 24 | €3,323 | €2,228 | -€1,095 | -33.0% |
| Other tangible fixed assets | 26 | €5,389 | €3,986 | -€1,403 | -26.0% |
| Current assets | 29/58 | €27,613 | €105,772 | +€78,159 | +283.1% |
| Amounts receivable within one year | 40/41 | - | €15,771 | +€15,771 | |
| Trade receivables | 40 | - | €15,771 | +€15,771 | |
| Cash at bank and in hand | 54/58 | €27,025 | €89,816 | +€62,791 | +232.3% |
| Deferred charges and accrued income | 490/1 | €588 | €185 | -€403 | -68.5% |
| Total equity and liabilities | 10/49 | €654,557 | €720,999 | +€66,442 | +10.2% |
| Equity | 10/15 | -€5,755 | €60,617 | +€66,372 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,755 | €25,165 | +€33,920 | |
| Investment grants | 15 | - | €32,452 | +€32,452 | |
| Provisions and deferred taxes | 16 | - | €10,817 | +€10,817 | |
| Deferred taxes | 168 | - | €10,817 | +€10,817 | |
| Amounts payable | 17/49 | €660,312 | €649,565 | -€10,747 | -1.6% |
| Amounts payable after more than one year | 17 | €487,221 | €457,324 | -€29,897 | -6.1% |
| Financial debts | 170/4 | €487,221 | €456,604 | -€30,617 | -6.3% |
| Other amounts payable | 178/9 | - | €720 | +€720 | |
| Amounts payable within one year | 42/48 | €169,108 | €188,262 | +€19,154 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €29,566 | €30,618 | +€1,052 | +3.6% |
| Trade debts | 44 | €355 | €17,445 | +€17,090 | +4814.1% |
| Suppliers | 440/4 | €355 | €17,445 | +€17,090 | +4814.1% |
| Taxes, remuneration and social security | 45 | €1,416 | €1,920 | +€504 | +35.6% |
| Taxes | 450/3 | €416 | - | -€416 | |
| Remuneration and social security | 454/9 | €1,000 | €1,920 | +€920 | +92.0% |
| Other amounts payable | 47/48 | €137,771 | €138,279 | +€508 | +0.4% |
| Accrued charges and deferred income | 492/3 | €3,983 | €3,979 | -€4 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,644 | €37,093 | +€8,449 | +29.5% |
| Other operating charges | 640/8 | €3,126 | €2,090 | -€1,036 | -33.1% |
| Gross operating margin | 9900 | €46,748 | €85,235 | +€38,487 | +82.3% |
| Operating profit (loss) | 9901 | €14,978 | €46,052 | +€31,074 | +207.5% |
| Financial income | 75/76B | - | €4,636 | +€4,636 | |
| Recurring financial income | 75 | - | €4,636 | +€4,636 | |
| Financial charges | 65/66B | €22,055 | €18,313 | -€3,742 | -17.0% |
| Recurring financial charges | 65 | €22,055 | €18,313 | -€3,742 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,077 | €32,375 | +€39,452 | |
| Transfer from deferred taxes | 780 | - | €1,545 | +€1,545 | |
| Income taxes | 67/77 | €162 | - | -€162 | |
| Profit (loss) for the period | 9904 | -€7,239 | €33,920 | +€41,159 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,239 | €33,920 | +€41,159 |
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 10 October 2026 via checked.be.