S-CARGO: 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.
S-CARGO
Largest movements
- Receivables within one year +€20,340
up €20,340 (+164.3%), from €12,381 to €32,721
of which Trade receivables: +€21,250
- Stocks and contracts +€6,268
up €6,268 (+3.6%), from €172,453 to €178,721
- Cash -€2,246
down €2,246 (-42.1%), from €5,333 to €3,087
mainly Receivables within one year (-€20,340) and Other debts (-€11,855)
- Trade debts +€26,782
up €26,782 (+70.4%), from €38,027 to €64,808
- Other debts -€11,855
down €11,855 (-25.0%), from €47,443 to €35,588
- Profit (loss) carried forward +€8,324
up €8,324 (+9.6%), from €86,571 to €94,895
- Purchases and services +€6,926
up €6,926 (+4.5%), from €154,900 to €161,826
- Gross operating margin -€4,204
down €4,204 (-24.4%), from €17,223 to €13,019
- Turnover +€2,722
up €2,722 (+1.6%), from €172,123 to €174,845
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 | €192,086 | €216,449 | +€24,363 | +12.7% |
| Fixed assets | 21/28 | €1,300 | €1,300 | = | 0.0% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €190,786 | €215,149 | +€24,363 | +12.8% |
| Stocks and contracts in progress | 3 | €172,453 | €178,721 | +€6,268 | +3.6% |
| Stocks | 30/36 | €172,453 | €178,721 | +€6,268 | +3.6% |
| Amounts receivable within one year | 40/41 | €12,381 | €32,721 | +€20,340 | +164.3% |
| Trade receivables | 40 | €8,500 | €29,750 | +€21,250 | +250.0% |
| Other amounts receivable | 41 | €3,881 | €2,971 | -€910 | -23.4% |
| Cash at bank and in hand | 54/58 | €5,333 | €3,087 | -€2,246 | -42.1% |
| Deferred charges and accrued income | 490/1 | €619 | €619 | = | 0.0% |
| Total equity and liabilities | 10/49 | €192,086 | €216,449 | +€24,363 | +12.7% |
| Equity | 10/15 | €106,617 | €113,941 | +€7,324 | +6.9% |
| Contributions | 10/11 | €19,000 | €18,000 | -€1,000 | -5.3% |
| Reserves | 13 | €1,046 | €1,046 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,046 | €1,046 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,046 | €1,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,571 | €94,895 | +€8,324 | +9.6% |
| Amounts payable | 17/49 | €85,470 | €102,508 | +€17,038 | +19.9% |
| Amounts payable within one year | 42/48 | €85,470 | €102,508 | +€17,038 | +19.9% |
| Financial debts | 43 | - | €799 | +€799 | |
| Credit institutions | 430/8 | - | €799 | +€799 | |
| Trade debts | 44 | €38,027 | €64,808 | +€26,782 | +70.4% |
| Suppliers | 440/4 | €38,027 | €64,808 | +€26,782 | +70.4% |
| Taxes, remuneration and social security | 45 | - | €1,312 | +€1,312 | |
| Taxes | 450/3 | - | €1,312 | +€1,312 | |
| Other amounts payable | 47/48 | €47,443 | €35,588 | -€11,855 | -25.0% |
| Turnover | 70 | €172,123 | €174,845 | +€2,722 | +1.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €154,900 | €161,826 | +€6,926 | +4.5% |
| Other operating charges | 640/8 | €717 | €680 | -€38 | -5.2% |
| Gross operating margin | 9900 | €17,223 | €13,019 | -€4,204 | -24.4% |
| Operating profit (loss) | 9901 | €16,505 | €12,339 | -€4,166 | -25.2% |
| Financial charges | 65/66B | €950 | €1,015 | +€65 | +6.8% |
| Recurring financial charges | 65 | €950 | €1,015 | +€65 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €15,555 | €11,324 | -€4,231 | -27.2% |
| Income taxes | 67/77 | €3,976 | €3,000 | -€976 | -24.5% |
| Profit (loss) for the period | 9904 | €11,579 | €8,324 | -€3,255 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,579 | €8,324 | -€3,255 | -28.1% |
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 6 October 2026 via checked.be.