S GROUP BENELUX: what changed
What changed
S GROUP BENELUX
NACE 77.399, Renting and leasing of other machinery, equipment and tangible goods
filed annual accounts (NBB)
Net result for the year
€125,852
2024 · -€88,953+€214,805
Equity
€3,819
2024 · -€122,033+€125,852
Cash
€6,564
2024 · €15,939-€9,375
Balance sheet total
€352,830
2024 · €332,347+€20,483
Largest movements
Assets
- Receivables within one year +€67,115
up €67,115 (+44.8%), from €149,908 to €217,023
of which Trade receivables: +€100,250
- Tangible fixed assets -€37,405
down €37,405 (-28.6%), from €130,597 to €93,191
of which Plant, machinery and equipment: -€37,829
- Cash -€9,375
down €9,375 (-58.8%), from €15,939 to €6,564
mainly Trade debts (-€167,958) and Receivables within one year (-€67,115)
Equity and liabilities
- Trade debts -€167,958
down €167,958 (-37.0%), from €454,380 to €286,422
- Profit (loss) carried forward +€125,852
up €125,852 (+88.3%), from -€142,493 to -€16,641
- Debts after one year +€28,669
new in 2025: €28,669
- Current portion of long-term debt +€25,126
new in 2025: €25,126
- Provisions +€5,883
new in 2025: €5,883
Income statement
- Gross operating margin +€215,619
up €215,619, from -€37,326 to €178,293
- Financial charges +€9,731
up €9,731 (+1,180%), from €825 to €10,556
- Depreciation -€4,291
down €4,291 (-9.4%), from €45,424 to €41,133
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€88,953
Gross operating margin
+€215,619
Depreciation
+€4,291
Other operating charges
+€70
Other operating items
+€6,588
Financial income
-€1,680
Financial charges
-€9,731
Taxes
-€353
Result 2025
€125,852
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€60,192
Investment
-€2,978
Financing
+€53,795
Cash 2024
€15,939
From operations (derived)
-€60,192
Net result for the year
+€125,852
Depreciation
+€41,133
Receivables within one year
-€67,115
Deferred charges and accrued income
-€897
Provisions
+€5,883
Trade debts
-€167,958
Tax, wage and social debts
+€196
Other debts
+€2,715
Investment (derived)
-€2,978
Investment in fixed assets (net)
-€2,978
Financing
+€53,795
Debts after one year
+€28,669
Current portion of long-term debt
+€25,126
Cash 2025
€6,564
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,347 | €352,830 | +€20,483 | +6.2% |
| Fixed assets | 21/28 | €164,446 | €126,292 | -€38,155 | -23.2% |
| Intangible fixed assets | 21 | €2,350 | €1,350 | -€1,000 | -42.6% |
| Tangible fixed assets | 22/27 | €130,597 | €93,191 | -€37,405 | -28.6% |
| Plant, machinery and equipment | 23 | €122,205 | €84,376 | -€37,829 | -31.0% |
| Furniture and vehicles | 24 | €8,392 | €8,815 | +€423 | +5.0% |
| Financial fixed assets | 28 | €31,500 | €31,751 | +€251 | +0.8% |
| Current assets | 29/58 | €167,900 | €226,538 | +€58,638 | +34.9% |
| Amounts receivable within one year | 40/41 | €149,908 | €217,023 | +€67,115 | +44.8% |
| Trade receivables | 40 | €108,489 | €208,739 | +€100,250 | +92.4% |
| Other amounts receivable | 41 | €41,419 | €8,285 | -€33,134 | -80.0% |
| Cash at bank and in hand | 54/58 | €15,939 | €6,564 | -€9,375 | -58.8% |
| Deferred charges and accrued income | 490/1 | €2,053 | €2,951 | +€897 | +43.7% |
| Total equity and liabilities | 10/49 | €332,347 | €352,830 | +€20,483 | +6.2% |
| Equity | 10/15 | -€122,033 | €3,819 | +€125,852 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,493 | -€16,641 | +€125,852 | +88.3% |
| Provisions and deferred taxes | 16 | - | €5,883 | +€5,883 | |
| Provisions for liabilities and charges | 160/5 | - | €5,883 | +€5,883 | |
| Environmental obligations | 163 | - | €5,883 | +€5,883 | |
| Amounts payable | 17/49 | €454,380 | €343,128 | -€111,252 | -24.5% |
| Amounts payable after more than one year | 17 | - | €28,669 | +€28,669 | |
| Financial debts | 170/4 | - | €28,669 | +€28,669 | |
| Amounts payable within one year | 42/48 | €454,380 | €314,459 | -€139,921 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | - | €25,126 | +€25,126 | |
| Trade debts | 44 | €454,380 | €286,422 | -€167,958 | -37.0% |
| Suppliers | 440/4 | €454,380 | €286,422 | -€167,958 | -37.0% |
| Taxes, remuneration and social security | 45 | - | €196 | +€196 | |
| Taxes | 450/3 | - | €196 | +€196 | |
| Other amounts payable | 47/48 | - | €2,715 | +€2,715 | |
| Non-recurring operating income | 76A | - | €21,547 | +€21,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,424 | €41,133 | -€4,291 | -9.4% |
| Other operating charges | 640/8 | €470 | €400 | -€70 | -14.9% |
| Non-recurring operating charges | 66A | €6,588 | - | -€6,588 | |
| Gross operating margin | 9900 | -€37,326 | €178,293 | +€215,619 | |
| Operating profit (loss) | 9901 | -€89,808 | €136,761 | +€226,569 | |
| Financial income | 75/76B | €1,680 | - | -€1,680 | |
| Recurring financial income | 75 | €1,680 | - | -€1,680 | |
| Financial charges | 65/66B | €825 | €10,556 | +€9,731 | +1,180% |
| Recurring financial charges | 65 | €825 | €10,556 | +€9,731 | +1,180% |
| Profit (loss) for the period before taxes | 9903 | -€88,953 | €126,205 | +€215,158 | |
| Income taxes | 67/77 | - | €353 | +€353 | |
| Profit (loss) for the period | 9904 | -€88,953 | €125,852 | +€214,805 | |
| Profit (loss) for the period to be appropriated | 9905 | -€88,953 | €125,852 | +€214,805 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.