S & H: 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 & H
Largest movements
- Cash -€8,553
down €8,553 (-8.8%), from €97,565 to €89,012
mainly Net result for the year (-€21,085) and Tax, wage and social debts (-€659)
- Tangible fixed assets -€6,755
down €6,755 (-7.6%), from €88,908 to €82,153
of which Land and buildings: -€6,385
- Stocks and contracts -€3,500
down €3,500 (-7.6%), from €46,000 to €42,500
- Profit (loss) carried forward -€21,085
down €21,085, from €4,888 to -€16,197
- Gross operating margin -€17,535
down €17,535, from €11,521 to -€6,014
- Other operating charges +€4,217
up €4,217 (+170.0%), from €2,481 to €6,698
- Financial charges +€264
up €264 (+15.3%), from €1,723 to €1,987
- Depreciation +€204
up €204 (+2.6%), from €7,732 to €7,935
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 | €247,970 | €227,275 | -€20,695 | -8.3% |
| Fixed assets | 21/28 | €98,293 | €90,358 | -€7,935 | -8.1% |
| Intangible fixed assets | 21 | €4,330 | €3,150 | -€1,180 | -27.3% |
| Tangible fixed assets | 22/27 | €88,908 | €82,153 | -€6,755 | -7.6% |
| Land and buildings | 22 | €88,421 | €82,036 | -€6,385 | -7.2% |
| Plant, machinery and equipment | 23 | €487 | €117 | -€370 | -76.0% |
| Financial fixed assets | 28 | €5,055 | €5,055 | = | 0.0% |
| Current assets | 29/58 | €149,677 | €136,917 | -€12,759 | -8.5% |
| Stocks and contracts in progress | 3 | €46,000 | €42,500 | -€3,500 | -7.6% |
| Stocks | 30/36 | €46,000 | €42,500 | -€3,500 | -7.6% |
| Amounts receivable within one year | 40/41 | €4,097 | €4,478 | +€382 | +9.3% |
| Trade receivables | 40 | €3,999 | €4,341 | +€342 | +8.6% |
| Other amounts receivable | 41 | €97 | €137 | +€40 | +40.7% |
| Cash at bank and in hand | 54/58 | €97,565 | €89,012 | -€8,553 | -8.8% |
| Deferred charges and accrued income | 490/1 | €2,015 | €927 | -€1,088 | -54.0% |
| Total equity and liabilities | 10/49 | €247,970 | €227,275 | -€20,695 | -8.3% |
| Equity | 10/15 | €46,138 | €25,053 | -€21,085 | -45.7% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €3,750 | €3,750 | = | 0.0% |
| Distributable reserves | 133 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,888 | -€16,197 | -€21,085 | |
| Amounts payable | 17/49 | €201,832 | €202,222 | +€391 | +0.2% |
| Amounts payable within one year | 42/48 | €199,729 | €199,138 | -€591 | -0.3% |
| Trade debts | 44 | €12,698 | €12,152 | -€545 | -4.3% |
| Suppliers | 440/4 | €12,698 | €12,152 | -€545 | -4.3% |
| Taxes, remuneration and social security | 45 | €6,388 | €5,729 | -€659 | -10.3% |
| Taxes | 450/3 | €6,388 | €5,729 | -€659 | -10.3% |
| Other amounts payable | 47/48 | €180,643 | €181,257 | +€614 | +0.3% |
| Accrued charges and deferred income | 492/3 | €2,103 | €3,085 | +€982 | +46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,732 | €7,935 | +€204 | +2.6% |
| Other operating charges | 640/8 | €2,481 | €6,698 | +€4,217 | +170.0% |
| Non-recurring operating charges | 66A | €378 | €0 | -€378 | -100.0% |
| Gross operating margin | 9900 | €11,521 | -€6,014 | -€17,535 | |
| Operating profit (loss) | 9901 | €930 | -€20,647 | -€21,577 | |
| Financial income | 75/76B | €1,685 | €1,718 | +€33 | +1.9% |
| Recurring financial income | 75 | €1,685 | €1,718 | +€33 | +1.9% |
| Financial charges | 65/66B | €1,723 | €1,987 | +€264 | +15.3% |
| Recurring financial charges | 65 | €1,723 | €1,987 | +€264 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €892 | -€20,916 | -€21,809 | |
| Income taxes | 67/77 | €194 | €169 | -€25 | -13.1% |
| Profit (loss) for the period | 9904 | €698 | -€21,085 | -€21,783 | |
| Profit (loss) for the period to be appropriated | 9905 | €698 | -€21,085 | -€21,783 |
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.