S-NETWORKS: 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-NETWORKS
Largest movements
- Tangible fixed assets +€204,610
up €204,610 (+786%), from €26,023 to €230,632
of which Leasing and similar rights: +€152,846
- Cash -€28,288
down €28,288 (-58.8%), from €48,107 to €19,819
mainly Investment in fixed assets (net) (-€216,390) and Debts after one year (-€13,579)
- Receivables after one year -€25,000
no longer reported in 2024 (was €25,000)
- Receivables within one year -€23,685
down €23,685 (-32.1%), from €73,785 to €50,100
of which Trade receivables: -€30,316
- Other debts +€90,373
up €90,373 (+4,243%), from €2,130 to €92,503
- Profit (loss) carried forward +€39,879
up €39,879 (+55.3%), from €72,089 to €111,967
- Debts after one year -€13,579
down €13,579 (-54.8%), from €24,779 to €11,200
- Tax, wage and social debts +€13,021
up €13,021 (+84.2%), from €15,459 to €28,481
- Trade debts -€5,565
down €5,565 (-76.4%), from €7,287 to €1,722
- Gross operating margin +€33,021
up €33,021 (+57.7%), from €57,273 to €90,294
- Other operating charges +€24,501
up €24,501 (+8,405%), from €292 to €24,793
- Taxes +€4,607
up €4,607 (+48.3%), from €9,539 to €14,146
- Depreciation -€1,485
down €1,485 (-11.2%), from €13,266 to €11,780
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €172,914 | €300,551 | +€127,637 | +73.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €26,023 | €230,632 | +€204,610 | +786% |
| Tangible fixed assets | 22/27 | €26,023 | €230,632 | +€204,610 | +786% |
| Plant, machinery and equipment | 23 | €3,069 | €5,834 | +€2,765 | +90.1% |
| Furniture and vehicles | 24 | €17,692 | €66,691 | +€48,999 | +277% |
| Leasing and similar rights | 25 | - | €152,846 | +€152,846 | |
| Other tangible fixed assets | 26 | €5,261 | €5,261 | = | 0.0% |
| Current assets | 29/58 | €146,892 | €69,919 | -€76,973 | -52.4% |
| Amounts receivable after more than one year | 29 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €73,785 | €50,100 | -€23,685 | -32.1% |
| Trade receivables | 40 | €66,443 | €36,127 | -€30,316 | -45.6% |
| Other amounts receivable | 41 | €7,342 | €13,973 | +€6,631 | +90.3% |
| Cash at bank and in hand | 54/58 | €48,107 | €19,819 | -€28,288 | -58.8% |
| Total equity and liabilities | 10/49 | €172,914 | €300,551 | +€127,637 | +73.8% |
| Equity | 10/15 | €106,388 | €146,267 | +€39,879 | +37.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €28,300 | €28,300 | = | 0.0% |
| Distributable reserves | 133 | €28,300 | €28,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,089 | €111,967 | +€39,879 | +55.3% |
| Amounts payable | 17/49 | €66,526 | €154,284 | +€87,758 | +132% |
| Amounts payable after more than one year | 17 | €24,779 | €11,200 | -€13,579 | -54.8% |
| Financial debts | 170/4 | €24,779 | €11,200 | -€13,579 | -54.8% |
| Amounts payable within one year | 42/48 | €41,747 | €143,084 | +€101,337 | +243% |
| Current portion of amounts payable after more than one year | 42 | €15,371 | €14,279 | -€1,092 | -7.1% |
| Trade debts | 44 | €7,287 | €1,722 | -€5,565 | -76.4% |
| Suppliers | 440/4 | €7,287 | €1,722 | -€5,565 | -76.4% |
| Advances received on contracts in progress | 46 | €1,500 | €6,098 | +€4,598 | +307% |
| Taxes, remuneration and social security | 45 | €15,459 | €28,481 | +€13,021 | +84.2% |
| Taxes | 450/3 | €15,459 | €28,481 | +€13,021 | +84.2% |
| Other amounts payable | 47/48 | €2,130 | €92,503 | +€90,373 | +4,243% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,266 | €11,780 | -€1,485 | -11.2% |
| Other operating charges | 640/8 | €292 | €24,793 | +€24,501 | +8,405% |
| Gross operating margin | 9900 | €57,273 | €90,294 | +€33,021 | +57.7% |
| Operating profit (loss) | 9901 | €43,716 | €53,720 | +€10,005 | +22.9% |
| Financial income | 75/76B | €710 | €654 | -€56 | -7.9% |
| Recurring financial income | 75 | €710 | €654 | -€56 | -7.9% |
| Financial charges | 65/66B | €607 | €350 | -€257 | -42.4% |
| Recurring financial charges | 65 | €607 | €350 | -€257 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €43,819 | €54,025 | +€10,206 | +23.3% |
| Income taxes | 67/77 | €9,539 | €14,146 | +€4,607 | +48.3% |
| Profit (loss) for the period | 9904 | €34,280 | €39,879 | +€5,599 | +16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,280 | €39,879 | +€5,599 | +16.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.