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
- Cash +€115,382
up €115,382 (+307%), from €37,596 to €152,979
mainly Net result for the year (+€202,693) and Current portion of long-term debt (+€91,528)
- Tangible fixed assets +€64,579
up €64,579 (+5.6%), from €1.2m to €1.2m
of which Furniture and vehicles: +€91,532
- Reserves +€202,693
up €202,693 (+17.2%), from €1.2m to €1.4m
of which Distributable reserves: +€156,383
- Debts after one year -€109,694
down €109,694 (-100%), from €109,694 to €0
- Current portion of long-term debt +€91,528
up €91,528 (+504%), from €18,165 to €109,694
- Gross operating margin +€12,260
up €12,260 (+3.7%), from €328,697 to €340,956
- Taxes +€4,627
up €4,627 (+6.0%), from €77,232 to €81,859
- Financial charges -€3,782
down €3,782 (-37.4%), from €10,116 to €6,334
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 | €1,353,482 | €1,532,038 | +€178,556 | +13.2% |
| Fixed assets | 21/28 | €1,161,218 | €1,225,797 | +€64,579 | +5.6% |
| Tangible fixed assets | 22/27 | €1,161,218 | €1,225,797 | +€64,579 | +5.6% |
| Land and buildings | 22 | €1,150,559 | €1,120,006 | -€30,553 | -2.7% |
| Plant, machinery and equipment | 23 | - | €3,601 | +€3,601 | |
| Furniture and vehicles | 24 | €10,659 | €102,191 | +€91,532 | +859% |
| Current assets | 29/58 | €192,264 | €306,241 | +€113,977 | +59.3% |
| Amounts receivable within one year | 40/41 | €91,498 | €89,865 | -€1,634 | -1.8% |
| Trade receivables | 40 | €86,224 | €88,865 | +€2,641 | +3.1% |
| Other amounts receivable | 41 | €5,275 | €1,000 | -€4,275 | -81.0% |
| Current investments | 50/53 | €59,707 | €59,707 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,596 | €152,979 | +€115,382 | +307% |
| Deferred charges and accrued income | 490/1 | €3,462 | €3,690 | +€228 | +6.6% |
| Total equity and liabilities | 10/49 | €1,353,482 | €1,532,038 | +€178,556 | +13.2% |
| Equity | 10/15 | €1,181,441 | €1,384,134 | +€202,693 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,175,241 | €1,377,934 | +€202,693 | +17.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,610 | €218,920 | +€46,310 | +26.8% |
| Distributable reserves | 133 | €1,000,776 | €1,157,159 | +€156,383 | +15.6% |
| Amounts payable | 17/49 | €172,042 | €147,904 | -€24,137 | -14.0% |
| Amounts payable after more than one year | 17 | €109,694 | €0 | -€109,694 | -100% |
| Financial debts | 170/4 | €109,694 | €0 | -€109,694 | -100% |
| Amounts payable within one year | 42/48 | €56,358 | €140,880 | +€84,522 | +150% |
| Current portion of amounts payable after more than one year | 42 | €18,165 | €109,694 | +€91,528 | +504% |
| Trade debts | 44 | €892 | €691 | -€202 | -22.6% |
| Suppliers | 440/4 | €892 | €691 | -€202 | -22.6% |
| Taxes, remuneration and social security | 45 | €37,300 | €30,496 | -€6,805 | -18.2% |
| Taxes | 450/3 | €37,300 | €30,496 | -€6,805 | -18.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,990 | €7,024 | +€1,035 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,178 | €45,086 | +€908 | +2.1% |
| Other operating charges | 640/8 | €7,105 | €6,736 | -€368 | -5.2% |
| Gross operating margin | 9900 | €328,697 | €340,956 | +€12,260 | +3.7% |
| Operating profit (loss) | 9901 | €277,413 | €289,134 | +€11,720 | +4.2% |
| Financial income | 75/76B | €1,523 | €1,753 | +€229 | +15.0% |
| Recurring financial income | 75 | €1,523 | €1,753 | +€229 | +15.0% |
| Financial charges | 65/66B | €10,116 | €6,334 | -€3,782 | -37.4% |
| Recurring financial charges | 65 | €10,116 | €6,334 | -€3,782 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €268,821 | €284,552 | +€15,731 | +5.9% |
| Income taxes | 67/77 | €77,232 | €81,859 | +€4,627 | +6.0% |
| Profit (loss) for the period | 9904 | €191,589 | €202,693 | +€11,105 | +5.8% |
| Transfer from tax-exempt reserves | 789 | €0 | €54,730 | +€54,730 | |
| Transfer to tax-exempt reserves | 689 | €67,360 | €101,040 | +€33,680 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,229 | €156,383 | +€32,155 | +25.9% |
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 18 October 2026 via checked.be.