S & L: 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 & L
Largest movements
- Stocks and contracts +€75,250
new in 2025: €75,250
- Receivables within one year +€59,007
up €59,007 (+610%), from €9,673 to €68,680
of which Trade receivables: +€64,183
- Cash +€27,664
up €27,664 (+1,381%), from €2,003 to €29,667
mainly Trade debts (+€124,982) and Tax, wage and social debts (+€25,462)
- Trade debts +€124,982
up €124,982 (+7,407%), from €1,687 to €126,669
- Tax, wage and social debts +€25,462
new in 2025: €25,462
of which Taxes: +€19,391
- Advances received +€8,322
new in 2025: €8,322
- Other debts +€1,926
new in 2025: €1,926
- Purchases and services +€258,673
new in 2025: €258,673
- Staff costs +€11,892
up €11,892 (+4,374%), from €272 to €12,164
- Gross operating margin +€3,239
up €3,239 (+25.7%), from €12,586 to €15,825
- Taxes +€2,079
new in 2025: €2,079
- Financial charges -€253
down €253 (-43.2%), from €586 to €333
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 | €15,807 | €176,599 | +€160,793 | +1,017% |
| Fixed assets | 21/28 | €4,003 | €3,003 | -€1,000 | -25.0% |
| Tangible fixed assets | 22/27 | €4,003 | €3,003 | -€1,000 | -25.0% |
| Furniture and vehicles | 24 | €4,003 | €3,003 | -€1,000 | -25.0% |
| Current assets | 29/58 | €11,804 | €173,597 | +€161,793 | +1,371% |
| Stocks and contracts in progress | 3 | - | €75,250 | +€75,250 | |
| Stocks | 30/36 | - | €75,250 | +€75,250 | |
| Amounts receivable within one year | 40/41 | €9,673 | €68,680 | +€59,007 | +610% |
| Trade receivables | 40 | €4,498 | €68,680 | +€64,183 | +1,427% |
| Other amounts receivable | 41 | €5,175 | - | -€5,175 | |
| Cash at bank and in hand | 54/58 | €2,003 | €29,667 | +€27,664 | +1,381% |
| Deferred charges and accrued income | 490/1 | €128 | - | -€128 | |
| Total equity and liabilities | 10/49 | €15,807 | €176,599 | +€160,793 | +1,017% |
| Equity | 10/15 | €14,119 | €14,220 | +€101 | +0.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,619 | €13,720 | +€101 | +0.7% |
| Amounts payable | 17/49 | €1,687 | €162,379 | +€160,692 | +9,524% |
| Amounts payable within one year | 42/48 | €1,687 | €162,379 | +€160,692 | +9,524% |
| Trade debts | 44 | €1,687 | €126,669 | +€124,982 | +7,407% |
| Suppliers | 440/4 | €1,687 | €126,669 | +€124,982 | +7,407% |
| Advances received on contracts in progress | 46 | - | €8,322 | +€8,322 | |
| Taxes, remuneration and social security | 45 | - | €25,462 | +€25,462 | |
| Taxes | 450/3 | - | €19,391 | +€19,391 | |
| Remuneration and social security | 454/9 | - | €6,071 | +€6,071 | |
| Other amounts payable | 47/48 | - | €1,926 | +€1,926 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €258,673 | +€258,673 | |
| Remuneration, social security and pensions | 62 | €272 | €12,164 | +€11,892 | +4,374% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €997 | €1,000 | +€3 | +0.3% |
| Other operating charges | 640/8 | €336 | €149 | -€187 | -55.7% |
| Gross operating margin | 9900 | €12,586 | €15,825 | +€3,239 | +25.7% |
| Operating profit (loss) | 9901 | €10,981 | €2,513 | -€8,468 | -77.1% |
| Financial charges | 65/66B | €586 | €333 | -€253 | -43.2% |
| Recurring financial charges | 65 | €586 | €333 | -€253 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €10,395 | €2,180 | -€8,215 | -79.0% |
| Income taxes | 67/77 | - | €2,079 | +€2,079 | |
| Profit (loss) for the period | 9904 | €10,395 | €101 | -€10,294 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,395 | €101 | -€10,294 | -99.0% |
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 22 October 2026 via checked.be.