S-DEFORCE: 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.
What changed
S-DEFORCE
NACE 95.290, Repair and maintenance of other personal and household goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10,927
2024 · €31,186-€20,259
Equity
€59,961
2024 · €49,034+€10,927
Cash
€226
2024 · €7,213-€6,988
Balance sheet total
€776,801
2024 · €1.0m-€224,028
Largest movements
Assets
- Receivables within one year -€228,737
down €228,737 (-90.7%), from €252,174 to €23,437
of which Trade receivables: -€201,864
Equity and liabilities
- Accrued charges and deferred income -€144,079
no longer reported in 2025 (was €144,079)
- Debts after one year -€58,934
down €58,934 (-19.6%), from €300,937 to €242,003
- Trade debts -€46,472
down €46,472 (-47.5%), from €97,735 to €51,263
- Other debts +€31,022
up €31,022 (+12.0%), from €259,011 to €290,033
- Current portion of long-term debt -€17,770
down €17,770 (-37.1%), from €47,920 to €30,150
Income statement
- Financial charges +€8,424
up €8,424 (+535%), from €1,574 to €9,998
- Depreciation +€7,896
up €7,896 (+23.3%), from €33,879 to €41,775
- Gross operating margin -€5,229
down €5,229 (-7.7%), from €67,939 to €62,710
- Other operating charges -€3,873
down €3,873 (-96.3%), from €4,021 to €148
- Financial income -€2,583
down €2,583 (-94.9%), from €2,721 to €138
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
€31,186
Gross operating margin
-€5,229
Depreciation
-€7,896
Other operating charges
+€3,873
Financial income
-€2,583
Financial charges
-€8,424
Result 2025
€10,927
raises the resultlowers the result
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.
From operations
+€113,632
Investment
-€45,799
Financing
-€74,821
Cash 2024
€7,213
From operations (derived)
+€113,632
Net result for the year
+€10,927
Depreciation
+€41,775
Stocks and contracts
-€6,061
Receivables within one year
+€228,737
Deferred charges and accrued income
-€1,612
Trade debts
-€46,472
Tax, wage and social debts
-€606
Other debts
+€31,022
Accrued charges and deferred income
-€144,079
Investment (derived)
-€45,799
Investment in fixed assets (net)
-€45,799
Financing
-€74,821
Debts after one year
-€58,934
Current portion of long-term debt
-€17,770
Short-term financial debts
+€1,884
Cash 2025
€226
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,000,829 | €776,801 | -€224,028 | -22.4% |
| Fixed assets | 21/28 | €351,212 | €355,237 | +€4,024 | +1.1% |
| Tangible fixed assets | 22/27 | €351,212 | €355,237 | +€4,024 | +1.1% |
| Land and buildings | 22 | €11,984 | €10,984 | -€1,000 | -8.3% |
| Plant, machinery and equipment | 23 | €8,881 | €5,755 | -€3,125 | -35.2% |
| Furniture and vehicles | 24 | €347 | €38,497 | +€38,150 | +10,985% |
| Leasing and similar rights | 25 | €330,000 | €300,000 | -€30,000 | -9.1% |
| Current assets | 29/58 | €649,617 | €421,564 | -€228,052 | -35.1% |
| Stocks and contracts in progress | 3 | €359,433 | €365,493 | +€6,061 | +1.7% |
| Stocks | 30/36 | €359,433 | €365,493 | +€6,061 | +1.7% |
| Amounts receivable within one year | 40/41 | €252,174 | €23,437 | -€228,737 | -90.7% |
| Trade receivables | 40 | €225,301 | €23,437 | -€201,864 | -89.6% |
| Other amounts receivable | 41 | €26,873 | - | -€26,873 | |
| Cash at bank and in hand | 54/58 | €7,213 | €226 | -€6,988 | -96.9% |
| Deferred charges and accrued income | 490/1 | €30,797 | €32,408 | +€1,612 | +5.2% |
| Total equity and liabilities | 10/49 | €1,000,829 | €776,801 | -€224,028 | -22.4% |
| Equity | 10/15 | €49,034 | €59,961 | +€10,927 | +22.3% |
| Contributions | 10/11 | €228,600 | €228,600 | = | 0.0% |
| Reserves | 13 | €29,210 | €29,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,860 | €22,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,860 | €22,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €111 | €111 | = | 0.0% |
| Distributable reserves | 133 | €6,238 | €6,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€208,776 | -€197,849 | +€10,927 | +5.2% |
| Amounts payable | 17/49 | €951,795 | €716,840 | -€234,955 | -24.7% |
| Amounts payable after more than one year | 17 | €300,937 | €242,003 | -€58,934 | -19.6% |
| Financial debts | 170/4 | €300,937 | €242,003 | -€58,934 | -19.6% |
| Amounts payable within one year | 42/48 | €506,779 | €474,837 | -€31,942 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €47,920 | €30,150 | -€17,770 | -37.1% |
| Financial debts | 43 | - | €1,884 | +€1,884 | |
| Credit institutions | 430/8 | - | €1,884 | +€1,884 | |
| Trade debts | 44 | €97,735 | €51,263 | -€46,472 | -47.5% |
| Suppliers | 440/4 | €97,735 | €51,263 | -€46,472 | -47.5% |
| Advances received on contracts in progress | 46 | €87,297 | €87,297 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €14,816 | €14,211 | -€606 | -4.1% |
| Taxes | 450/3 | €12,676 | €14,211 | +€1,535 | +12.1% |
| Remuneration and social security | 454/9 | €2,140 | - | -€2,140 | |
| Other amounts payable | 47/48 | €259,011 | €290,033 | +€31,022 | +12.0% |
| Accrued charges and deferred income | 492/3 | €144,079 | - | -€144,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,879 | €41,775 | +€7,896 | +23.3% |
| Other operating charges | 640/8 | €4,021 | €148 | -€3,873 | -96.3% |
| Gross operating margin | 9900 | €67,939 | €62,710 | -€5,229 | -7.7% |
| Operating profit (loss) | 9901 | €30,039 | €20,787 | -€9,252 | -30.8% |
| Financial income | 75/76B | €2,721 | €138 | -€2,583 | -94.9% |
| Recurring financial income | 75 | €2,721 | €138 | -€2,583 | -94.9% |
| Financial charges | 65/66B | €1,574 | €9,998 | +€8,424 | +535% |
| Recurring financial charges | 65 | €1,574 | €9,998 | +€8,424 | +535% |
| Profit (loss) for the period before taxes | 9903 | €31,186 | €10,927 | -€20,259 | -65.0% |
| Profit (loss) for the period | 9904 | €31,186 | €10,927 | -€20,259 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,186 | €10,927 | -€20,259 | -65.0% |
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 26 October 2026 via checked.be.