S-LINE PROJECT: 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-LINE PROJECT
Largest movements
- Cash -€13,495
down €13,495 (-50.1%), from €26,914 to €13,420
mainly Other debts (-€40,297) and Receivables within one year (-€3,974)
- Tangible fixed assets -€4,087
down €4,087 (-13.7%), from €29,830 to €25,744
of which Furniture and vehicles: -€2,519
- Receivables within one year +€3,974
up €3,974 (+610%), from €651 to €4,625
of which Trade receivables: +€3,261
- Other debts -€40,297
down €40,297 (-76.5%), from €52,649 to €12,352
- Profit (loss) carried forward +€25,751
new in 2025: €25,751
- Trade debts +€1,600
up €1,600 (+121%), from €1,327 to €2,927
- Tax, wage and social debts -€965
down €965 (-27.0%), from €3,574 to €2,609
- Gross operating margin -€5,744
down €5,744 (-12.9%), from €44,668 to €38,925
- Taxes -€1,203
down €1,203 (-14.2%), from €8,490 to €7,287
- Depreciation +€957
up €957 (+26.4%), from €3,626 to €4,582
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 | €60,550 | €46,639 | -€13,911 | -23.0% |
| Fixed assets | 21/28 | €29,830 | €25,744 | -€4,087 | -13.7% |
| Tangible fixed assets | 22/27 | €29,830 | €25,744 | -€4,087 | -13.7% |
| Furniture and vehicles | 24 | €16,887 | €14,368 | -€2,519 | -14.9% |
| Other tangible fixed assets | 26 | €12,943 | €11,376 | -€1,568 | -12.1% |
| Current assets | 29/58 | €30,720 | €20,895 | -€9,825 | -32.0% |
| Amounts receivable within one year | 40/41 | €651 | €4,625 | +€3,974 | +610% |
| Trade receivables | 40 | €651 | €3,912 | +€3,261 | +501% |
| Other amounts receivable | 41 | - | €713 | +€713 | |
| Cash at bank and in hand | 54/58 | €26,914 | €13,420 | -€13,495 | -50.1% |
| Deferred charges and accrued income | 490/1 | €3,154 | €2,850 | -€304 | -9.6% |
| Total equity and liabilities | 10/49 | €60,550 | €46,639 | -€13,911 | -23.0% |
| Equity | 10/15 | €3,000 | €28,751 | +€25,751 | +858% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €25,751 | +€25,751 | |
| Amounts payable | 17/49 | €57,550 | €17,888 | -€39,662 | -68.9% |
| Amounts payable within one year | 42/48 | €57,550 | €17,888 | -€39,662 | -68.9% |
| Trade debts | 44 | €1,327 | €2,927 | +€1,600 | +121% |
| Suppliers | 440/4 | €1,327 | €2,927 | +€1,600 | +121% |
| Taxes, remuneration and social security | 45 | €3,574 | €2,609 | -€965 | -27.0% |
| Taxes | 450/3 | €3,574 | €2,609 | -€965 | -27.0% |
| Other amounts payable | 47/48 | €52,649 | €12,352 | -€40,297 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,626 | €4,582 | +€957 | +26.4% |
| Other operating charges | 640/8 | €625 | €995 | +€370 | +59.2% |
| Gross operating margin | 9900 | €44,668 | €38,925 | -€5,744 | -12.9% |
| Operating profit (loss) | 9901 | €40,418 | €33,347 | -€7,070 | -17.5% |
| Financial income | 75/76B | €14 | €14 | +€1 | +4.2% |
| Recurring financial income | 75 | €14 | €14 | +€1 | +4.2% |
| Financial charges | 65/66B | €477 | €324 | -€153 | -32.1% |
| Recurring financial charges | 65 | €477 | €324 | -€153 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €39,955 | €33,038 | -€6,917 | -17.3% |
| Income taxes | 67/77 | €8,490 | €7,287 | -€1,203 | -14.2% |
| Profit (loss) for the period | 9904 | €31,464 | €25,751 | -€5,714 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,464 | €25,751 | -€5,714 | -18.2% |
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 15 October 2026 via checked.be.