S CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets -€35,699
down €35,699 (-4.2%), from €843,863 to €808,164
- Cash -€33,376
down €33,376 (-96.5%), from €34,595 to €1,219
mainly Other debts (-€70,799) and Tax, wage and social debts (-€30,104)
- Deferred charges and accrued income +€10,523
up €10,523 (+5445.7%), from €193 to €10,717
- Other debts -€70,799
down €70,799 (-69.7%), from €101,578 to €30,779
- Tax, wage and social debts -€30,104
down €30,104 (-44.7%), from €67,408 to €37,304
- Trade debts +€16,761
up €16,761 (+46610.5%), from €36 to €16,797
- Debts after one year +€14,782
up €14,782 (+6.5%), from €227,458 to €242,239
- Reserves +€12,684
up €12,684 (+3.1%), from €404,131 to €416,814
- Gross operating margin -€81,149
down €81,149 (-42.5%), from €190,820 to €109,670
- Financial charges -€28,963
down €28,963 (-62.3%), from €46,474 to €17,511
of which Non-recurring financial charges: -€27,440
- Taxes -€27,652
down €27,652 (-79.6%), from €34,748 to €7,097
- Write-downs +€25,763
new in 2025: €25,763
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 | €909,902 | €845,342 | -€64,560 | -7.1% |
| Fixed assets | 21/28 | €843,863 | €808,164 | -€35,699 | -4.2% |
| Tangible fixed assets | 22/27 | €843,863 | €808,164 | -€35,699 | -4.2% |
| Land and buildings | 22 | €843,863 | €808,164 | -€35,699 | -4.2% |
| Current assets | 29/58 | €66,038 | €37,177 | -€28,861 | -43.7% |
| Amounts receivable within one year | 40/41 | €31,250 | €25,242 | -€6,008 | -19.2% |
| Trade receivables | 40 | €31,250 | €19,816 | -€11,434 | -36.6% |
| Other amounts receivable | 41 | - | €5,426 | +€5,426 | |
| Cash at bank and in hand | 54/58 | €34,595 | €1,219 | -€33,376 | -96.5% |
| Deferred charges and accrued income | 490/1 | €193 | €10,717 | +€10,523 | +5445.7% |
| Total equity and liabilities | 10/49 | €909,902 | €845,342 | -€64,560 | -7.1% |
| Equity | 10/15 | €432,994 | €445,678 | +€12,684 | +2.9% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €404,131 | €416,814 | +€12,684 | +3.1% |
| Distributable reserves | 133 | €404,131 | €416,814 | +€12,684 | +3.1% |
| Profit (loss) carried forward | 14 | €15,863 | €15,863 | = | 0.0% |
| Amounts payable | 17/49 | €476,908 | €399,664 | -€77,244 | -16.2% |
| Amounts payable after more than one year | 17 | €227,458 | €242,239 | +€14,782 | +6.5% |
| Financial debts | 170/4 | €227,458 | €242,239 | +€14,782 | +6.5% |
| Amounts payable within one year | 42/48 | €238,950 | €157,425 | -€81,525 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €69,928 | €72,545 | +€2,617 | +3.7% |
| Trade debts | 44 | €36 | €16,797 | +€16,761 | +46610.5% |
| Suppliers | 440/4 | €36 | €16,797 | +€16,761 | +46610.5% |
| Taxes, remuneration and social security | 45 | €67,408 | €37,304 | -€30,104 | -44.7% |
| Taxes | 450/3 | €67,408 | €37,304 | -€30,104 | -44.7% |
| Other amounts payable | 47/48 | €101,578 | €30,779 | -€70,799 | -69.7% |
| Accrued charges and deferred income | 492/3 | €10,500 | - | -€10,500 | |
| Non-recurring operating income | 76A | €31,286 | €46,273 | +€14,987 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,445 | €35,699 | +€1,254 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,763 | +€25,763 | |
| Other operating charges | 640/8 | €12,207 | €10,917 | -€1,290 | -10.6% |
| Gross operating margin | 9900 | €190,820 | €109,670 | -€81,149 | -42.5% |
| Operating profit (loss) | 9901 | €144,167 | €37,291 | -€106,876 | -74.1% |
| Financial charges | 65/66B | €46,474 | €17,511 | -€28,963 | -62.3% |
| Recurring financial charges | 65 | €19,034 | €17,511 | -€1,523 | -8.0% |
| Non-recurring financial charges | 66B | €27,440 | - | -€27,440 | |
| Profit (loss) for the period before taxes | 9903 | €97,694 | €19,780 | -€77,913 | -79.8% |
| Income taxes | 67/77 | €34,748 | €7,097 | -€27,652 | -79.6% |
| Profit (loss) for the period | 9904 | €62,945 | €12,684 | -€50,262 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,945 | €12,684 | -€50,262 | -79.8% |
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 5 October 2026 via checked.be.