S-INVESTS: 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-INVESTS
Largest movements
- Receivables within one year +€31,789
up €31,789 (+103.3%), from €30,774 to €62,563
of which Other amounts receivable: +€32,265
- Cash +€20,134
up €20,134 (+31.6%), from €63,742 to €83,876
mainly Net result for the year (+€50,987) and Current portion of long-term debt (+€50,000)
- Stocks and contracts +€14,915
up €14,915 (+17.4%), from €85,532 to €100,447
- Tangible fixed assets +€4,021
up €4,021 (+17.9%), from €22,464 to €26,485
of which Other tangible fixed assets: +€6,778
- Debts after one year -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Current portion of long-term debt +€50,000
new in 2024: €50,000
- Profit (loss) carried forward +€38,487
up €38,487 (+77.5%), from €49,656 to €88,143
- Tax, wage and social debts +€23,964
up €23,964 (+69.9%), from €34,264 to €58,228
of which Taxes: +€19,581
- Trade debts +€7,602
up €7,602 (+36.3%), from €20,950 to €28,552
- Gross operating margin +€47,055
up €47,055 (+59.4%), from €79,222 to €126,277
- Staff costs +€15,578
up €15,578 (+60.5%), from €25,745 to €41,324
- Financial charges +€9,334
up €9,334 (+777.4%), from €1,201 to €10,534
- Taxes +€5,527
up €5,527 (+54.5%), from €10,150 to €15,677
- Other operating charges +€1,628
up €1,628 (+227.1%), from €717 to €2,345
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,124 | €273,879 | +€69,755 | +34.2% |
| Formation expenses | 20 | - | €178 | +€178 | |
| Fixed assets | 21/28 | €22,669 | €26,690 | +€4,021 | +17.7% |
| Tangible fixed assets | 22/27 | €22,464 | €26,485 | +€4,021 | +17.9% |
| Plant, machinery and equipment | 23 | €4,822 | €4,348 | -€474 | -9.8% |
| Furniture and vehicles | 24 | €9,270 | €6,986 | -€2,283 | -24.6% |
| Other tangible fixed assets | 26 | €8,373 | €15,151 | +€6,778 | +81.0% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €181,455 | €247,011 | +€65,556 | +36.1% |
| Stocks and contracts in progress | 3 | €85,532 | €100,447 | +€14,915 | +17.4% |
| Stocks | 30/36 | €85,532 | €100,447 | +€14,915 | +17.4% |
| Amounts receivable within one year | 40/41 | €30,774 | €62,563 | +€31,789 | +103.3% |
| Trade receivables | 40 | €17,561 | €17,084 | -€476 | -2.7% |
| Other amounts receivable | 41 | €13,213 | €45,478 | +€32,265 | +244.2% |
| Cash at bank and in hand | 54/58 | €63,742 | €83,876 | +€20,134 | +31.6% |
| Deferred charges and accrued income | 490/1 | €1,407 | €125 | -€1,282 | -91.1% |
| Total equity and liabilities | 10/49 | €204,124 | €273,879 | +€69,755 | +34.2% |
| Equity | 10/15 | €56,202 | €94,614 | +€38,412 | +68.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25 | €25 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25 | - | -€25 | |
| Reserves not available under the articles | 1311 | €25 | - | -€25 | |
| Distributable reserves | 133 | - | €25 | +€25 | |
| Profit (loss) carried forward | 14 | €49,656 | €88,143 | +€38,487 | +77.5% |
| Investment grants | 15 | €322 | €246 | -€76 | -23.5% |
| Amounts payable | 17/49 | €147,922 | €179,265 | +€31,343 | +21.2% |
| Amounts payable after more than one year | 17 | €50,000 | €0 | -€50,000 | -100.0% |
| Financial debts | 170/4 | €50,000 | €0 | -€50,000 | -100.0% |
| Amounts payable within one year | 42/48 | €97,463 | €179,080 | +€81,617 | +83.7% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €20,950 | €28,552 | +€7,602 | +36.3% |
| Suppliers | 440/4 | €20,950 | €28,552 | +€7,602 | +36.3% |
| Advances received on contracts in progress | 46 | €7,250 | €4,800 | -€2,450 | -33.8% |
| Taxes, remuneration and social security | 45 | €34,264 | €58,228 | +€23,964 | +69.9% |
| Taxes | 450/3 | €24,773 | €44,354 | +€19,581 | +79.0% |
| Remuneration and social security | 454/9 | €9,491 | €13,874 | +€4,383 | +46.2% |
| Other amounts payable | 47/48 | €35,000 | €37,500 | +€2,500 | +7.1% |
| Accrued charges and deferred income | 492/3 | €458 | €185 | -€273 | -59.6% |
| Remuneration, social security and pensions | 62 | €25,745 | €41,324 | +€15,578 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,840 | €8,382 | +€1,542 | +22.5% |
| Other operating charges | 640/8 | €717 | €2,345 | +€1,628 | +227.1% |
| Gross operating margin | 9900 | €79,222 | €126,277 | +€47,055 | +59.4% |
| Operating profit (loss) | 9901 | €45,919 | €74,226 | +€28,307 | +61.6% |
| Financial income | 75/76B | €1,428 | €2,973 | +€1,545 | +108.2% |
| Recurring financial income | 75 | €1,428 | €2,973 | +€1,545 | +108.2% |
| Financial charges | 65/66B | €1,201 | €10,534 | +€9,334 | +777.4% |
| Recurring financial charges | 65 | €1,201 | €10,534 | +€9,334 | +777.4% |
| Profit (loss) for the period before taxes | 9903 | €46,147 | €66,664 | +€20,518 | +44.5% |
| Income taxes | 67/77 | €10,150 | €15,677 | +€5,527 | +54.5% |
| Profit (loss) for the period | 9904 | €35,997 | €50,987 | +€14,990 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,997 | €50,987 | +€14,990 | +41.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.