S-MOBILE: 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-MOBILE
Largest movements
- Intangible fixed assets +€481,314
up €481,314 (+168%), from €287,096 to €768,410
- Receivables within one year -€66,577
down €66,577 (-25.8%), from €258,489 to €191,912
of which Trade receivables: -€66,575
- Cash +€28,180
up €28,180 (+146%), from €19,237 to €47,417
mainly Tax, wage and social debts (+€355,132) and Net result for the year (+€151,279)
- Receivables after one year +€28,050
up €28,050 (+4.3%), from €645,468 to €673,518
- Tax, wage and social debts +€355,132
up €355,132 (+46.0%), from €771,362 to €1.1m
of which Remuneration and social security: +€341,560
- Profit (loss) carried forward +€151,279
up €151,279 (+57.1%), from €264,843 to €416,122
- Short-term financial debts -€69,361
down €69,361 (-98.2%), from €70,648 to €1,288
- Trade debts +€49,021
up €49,021 (+101%), from €48,498 to €97,520
- Staff costs -€76,636
down €76,636 (-3.8%), from €2.0m to €1.9m
- Gross operating margin +€28,757
up €28,757 (+1.3%), from €2.2m to €2.2m
- Depreciation +€24,465
up €24,465 (+249%), from €9,809 to €34,273
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 | €1,400,319 | €1,873,771 | +€473,451 | +33.8% |
| Fixed assets | 21/28 | €470,725 | €945,434 | +€474,709 | +101% |
| Intangible fixed assets | 21 | €287,096 | €768,410 | +€481,314 | +168% |
| Tangible fixed assets | 22/27 | €166,729 | €160,123 | -€6,606 | -4.0% |
| Land and buildings | 22 | €158,531 | €153,895 | -€4,636 | -2.9% |
| Furniture and vehicles | 24 | €8,199 | €6,229 | -€1,970 | -24.0% |
| Financial fixed assets | 28 | €16,900 | €16,900 | = | 0.0% |
| Current assets | 29/58 | €929,594 | €928,337 | -€1,257 | -0.1% |
| Amounts receivable after more than one year | 29 | €645,468 | €673,518 | +€28,050 | +4.3% |
| Other amounts receivable | 291 | €645,468 | €673,518 | +€28,050 | +4.3% |
| Amounts receivable within one year | 40/41 | €258,489 | €191,912 | -€66,577 | -25.8% |
| Trade receivables | 40 | €246,267 | €179,692 | -€66,575 | -27.0% |
| Other amounts receivable | 41 | €12,222 | €12,220 | -€2 | 0.0% |
| Cash at bank and in hand | 54/58 | €19,237 | €47,417 | +€28,180 | +146% |
| Deferred charges and accrued income | 490/1 | €6,401 | €15,491 | +€9,090 | +142% |
| Total equity and liabilities | 10/49 | €1,400,319 | €1,873,771 | +€473,451 | +33.8% |
| Equity | 10/15 | €283,443 | €434,722 | +€151,279 | +53.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,843 | €416,122 | +€151,279 | +57.1% |
| Amounts payable | 17/49 | €1,116,876 | €1,439,049 | +€322,173 | +28.8% |
| Amounts payable after more than one year | 17 | €102,011 | €91,958 | -€10,053 | -9.9% |
| Financial debts | 170/4 | €102,011 | €91,958 | -€10,053 | -9.9% |
| Amounts payable within one year | 42/48 | €1,011,945 | €1,346,998 | +€335,053 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €121,436 | €121,697 | +€261 | +0.2% |
| Financial debts | 43 | €70,648 | €1,288 | -€69,361 | -98.2% |
| Credit institutions | 430/8 | €70,648 | €1,288 | -€69,361 | -98.2% |
| Trade debts | 44 | €48,498 | €97,520 | +€49,021 | +101% |
| Suppliers | 440/4 | €48,498 | €97,520 | +€49,021 | +101% |
| Taxes, remuneration and social security | 45 | €771,362 | €1,126,494 | +€355,132 | +46.0% |
| Taxes | 450/3 | €320,472 | €334,044 | +€13,572 | +4.2% |
| Remuneration and social security | 454/9 | €450,890 | €792,450 | +€341,560 | +75.8% |
| Accrued charges and deferred income | 492/3 | €2,921 | €93 | -€2,828 | -96.8% |
| Remuneration, social security and pensions | 62 | €2,013,354 | €1,936,718 | -€76,636 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,809 | €34,273 | +€24,465 | +249% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,000 | - | -€2,000 | |
| Other operating charges | 640/8 | €2,939 | €7,308 | +€4,369 | +149% |
| Non-recurring operating charges | 66A | €713 | €3,258 | +€2,545 | +357% |
| Gross operating margin | 9900 | €2,156,363 | €2,185,120 | +€28,757 | +1.3% |
| Operating profit (loss) | 9901 | €127,548 | €203,562 | +€76,015 | +59.6% |
| Financial income | 75/76B | €93 | €289 | +€197 | +213% |
| Recurring financial income | 75 | €93 | €289 | +€197 | +213% |
| Financial charges | 65/66B | €13,886 | €15,240 | +€1,354 | +9.7% |
| Recurring financial charges | 65 | €13,886 | €15,240 | +€1,354 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €113,754 | €188,612 | +€74,858 | +65.8% |
| Income taxes | 67/77 | €33,999 | €37,333 | +€3,334 | +9.8% |
| Profit (loss) for the period | 9904 | €79,755 | €151,279 | +€71,523 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €79,755 | €151,279 | +€71,523 | +89.7% |
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 31 October 2026 via checked.be.