S&G: 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&G
Largest movements
- Tangible fixed assets -€62,822
down €62,822 (-19.6%), from €320,117 to €257,294
of which Furniture and vehicles: -€47,738
- Debts after one year -€62,472
down €62,472 (-52.7%), from €118,448 to €55,976
- Other debts -€19,006
down €19,006 (-23.1%), from €82,150 to €63,143
- Reserves +€18,834
up €18,834 (+30.5%), from €61,689 to €80,523
- Current portion of long-term debt -€10,910
down €10,910 (-28.8%), from €37,926 to €27,015
- Tax, wage and social debts +€7,343
up €7,343 (+72.2%), from €10,171 to €17,514
- Depreciation -€8,903
down €8,903 (-24.8%), from €35,848 to €26,945
- Taxes +€4,409
up €4,409 (+53.6%), from €8,230 to €12,639
- Gross operating margin +€4,123
up €4,123 (+5.1%), from €80,174 to €84,297
- Other operating charges -€1,480
down €1,480 (-8.9%), from €16,537 to €15,058
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 | €343,218 | €275,507 | -€67,711 | -19.7% |
| Fixed assets | 21/28 | €320,117 | €257,294 | -€62,822 | -19.6% |
| Tangible fixed assets | 22/27 | €320,117 | €257,294 | -€62,822 | -19.6% |
| Land and buildings | 22 | €235,433 | €221,822 | -€13,611 | -5.8% |
| Plant, machinery and equipment | 23 | €6,268 | €4,795 | -€1,473 | -23.5% |
| Furniture and vehicles | 24 | €78,415 | €30,677 | -€47,738 | -60.9% |
| Current assets | 29/58 | €23,101 | €18,213 | -€4,889 | -21.2% |
| Stocks and contracts in progress | 3 | €3,400 | €500 | -€2,900 | -85.3% |
| Stocks | 30/36 | €3,400 | €500 | -€2,900 | -85.3% |
| Amounts receivable within one year | 40/41 | €4,348 | €2,854 | -€1,494 | -34.4% |
| Trade receivables | 40 | €4,348 | €2,854 | -€1,494 | -34.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €12,039 | €11,260 | -€779 | -6.5% |
| Deferred charges and accrued income | 490/1 | €3,314 | €3,598 | +€284 | +8.6% |
| Total equity and liabilities | 10/49 | €343,218 | €275,507 | -€67,711 | -19.7% |
| Equity | 10/15 | €89,208 | €108,042 | +€18,834 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,689 | €80,523 | +€18,834 | +30.5% |
| Distributable reserves | 133 | €61,689 | €80,523 | +€18,834 | +30.5% |
| Profit (loss) carried forward | 14 | €8,919 | €8,919 | = | 0.0% |
| Amounts payable | 17/49 | €254,009 | €167,465 | -€86,544 | -34.1% |
| Amounts payable after more than one year | 17 | €118,448 | €55,976 | -€62,472 | -52.7% |
| Financial debts | 170/4 | €118,448 | €55,976 | -€62,472 | -52.7% |
| Amounts payable within one year | 42/48 | €135,562 | €111,489 | -€24,072 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €37,926 | €27,015 | -€10,910 | -28.8% |
| Trade debts | 44 | €5,316 | €3,816 | -€1,499 | -28.2% |
| Suppliers | 440/4 | €5,316 | €3,816 | -€1,499 | -28.2% |
| Taxes, remuneration and social security | 45 | €10,171 | €17,514 | +€7,343 | +72.2% |
| Taxes | 450/3 | €10,171 | €17,514 | +€7,343 | +72.2% |
| Other amounts payable | 47/48 | €82,150 | €63,143 | -€19,006 | -23.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,774 | €0 | -€1,774 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,848 | €26,945 | -€8,903 | -24.8% |
| Other operating charges | 640/8 | €16,537 | €15,058 | -€1,480 | -8.9% |
| Non-recurring operating charges | 66A | - | €5,382 | +€5,382 | |
| Gross operating margin | 9900 | €80,174 | €84,297 | +€4,123 | +5.1% |
| Operating profit (loss) | 9901 | €27,789 | €36,912 | +€9,123 | +32.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +40.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +40.0% |
| Financial charges | 65/66B | €6,007 | €5,440 | -€567 | -9.4% |
| Recurring financial charges | 65 | €6,007 | €5,440 | -€567 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €21,782 | €31,472 | +€9,690 | +44.5% |
| Income taxes | 67/77 | €8,230 | €12,639 | +€4,409 | +53.6% |
| Profit (loss) for the period | 9904 | €13,552 | €18,834 | +€5,282 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,552 | €18,834 | +€5,282 | +39.0% |
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 19 October 2026 via checked.be.