S.K.A.D.: 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.K.A.D.
Largest movements
- Stocks and contracts +€22,333
up €22,333 (+247%), from €9,035 to €31,368
- Tangible fixed assets -€17,597
down €17,597 (-22.4%), from €78,554 to €60,956
of which Furniture and vehicles: -€16,425
- Cash +€6,027
up €6,027 (+149%), from €4,033 to €10,060
mainly Trade debts (+€23,652) and Depreciation (+€18,982)
- Trade debts +€23,652
up €23,652 (+813%), from €2,908 to €26,560
- Debts after one year -€17,878
down €17,878 (-37.6%), from €47,521 to €29,643
of which Financial debts: -€17,878
- Reserves +€7,525
up €7,525 (+33.3%), from €22,575 to €30,099
- Tax, wage and social debts -€3,609
down €3,609 (-91.3%), from €3,952 to €343
- Gross operating margin -€21,056
down €21,056 (-40.9%), from €51,480 to €30,424
- Depreciation +€4,841
up €4,841 (+34.2%), from €14,141 to €18,982
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 | €100,484 | €110,723 | +€10,239 | +10.2% |
| Fixed assets | 21/28 | €81,881 | €64,284 | -€17,597 | -21.5% |
| Tangible fixed assets | 22/27 | €78,554 | €60,956 | -€17,597 | -22.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €3,234 | €2,062 | -€1,172 | -36.3% |
| Furniture and vehicles | 24 | €75,320 | €58,895 | -€16,425 | -21.8% |
| Financial fixed assets | 28 | €3,328 | €3,328 | = | 0.0% |
| Current assets | 29/58 | €18,602 | €46,439 | +€27,837 | +150% |
| Stocks and contracts in progress | 3 | €9,035 | €31,368 | +€22,333 | +247% |
| Stocks | 30/36 | €9,035 | €31,368 | +€22,333 | +247% |
| Amounts receivable within one year | 40/41 | €4,964 | €4,173 | -€791 | -15.9% |
| Trade receivables | 40 | €2,051 | €548 | -€1,503 | -73.3% |
| Other amounts receivable | 41 | €2,912 | €3,625 | +€712 | +24.5% |
| Cash at bank and in hand | 54/58 | €4,033 | €10,060 | +€6,027 | +149% |
| Deferred charges and accrued income | 490/1 | €570 | €839 | +€268 | +47.0% |
| Total equity and liabilities | 10/49 | €100,484 | €110,723 | +€10,239 | +10.2% |
| Equity | 10/15 | €28,775 | €36,299 | +€7,525 | +26.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,575 | €30,099 | +€7,525 | +33.3% |
| Distributable reserves | 133 | €22,575 | €30,099 | +€7,525 | +33.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €71,709 | €74,423 | +€2,715 | +3.8% |
| Amounts payable after more than one year | 17 | €47,521 | €29,643 | -€17,878 | -37.6% |
| Financial debts | 170/4 | €45,966 | €28,088 | -€17,878 | -38.9% |
| Other amounts payable | 178/9 | €1,555 | €1,555 | = | 0.0% |
| Amounts payable within one year | 42/48 | €24,188 | €44,781 | +€20,592 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €17,329 | €17,878 | +€549 | +3.2% |
| Trade debts | 44 | €2,908 | €26,560 | +€23,652 | +813% |
| Suppliers | 440/4 | €2,908 | €26,560 | +€23,652 | +813% |
| Taxes, remuneration and social security | 45 | €3,952 | €343 | -€3,609 | -91.3% |
| Taxes | 450/3 | €3,952 | €343 | -€3,609 | -91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,141 | €18,982 | +€4,841 | +34.2% |
| Other operating charges | 640/8 | €2,104 | €1,960 | -€144 | -6.8% |
| Gross operating margin | 9900 | €51,480 | €30,424 | -€21,056 | -40.9% |
| Operating profit (loss) | 9901 | €35,235 | €9,482 | -€25,754 | -73.1% |
| Financial income | 75/76B | €50 | €18 | -€32 | -64.8% |
| Recurring financial income | 75 | €50 | €18 | -€32 | -64.8% |
| Financial charges | 65/66B | €1,834 | €1,975 | +€140 | +7.6% |
| Recurring financial charges | 65 | €1,834 | €1,975 | +€140 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €33,451 | €7,525 | -€25,926 | -77.5% |
| Profit (loss) for the period | 9904 | €33,451 | €7,525 | -€25,926 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,451 | €7,525 | -€25,926 | -77.5% |
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 24 October 2026 via checked.be.