S & P TECHNICS: 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 & P TECHNICS
Largest movements
- Stocks and contracts +€45,000
up €45,000 (+113%), from €40,000 to €85,000
of which Contracts in progress: +€45,000
- Receivables within one year -€41,480
down €41,480 (-31.6%), from €131,368 to €89,887
of which Trade receivables: -€82,305
- Deferred charges and accrued income -€35,932
down €35,932 (-90.8%), from €39,589 to €3,657
- Tangible fixed assets -€20,950
down €20,950 (-29.6%), from €70,756 to €49,806
of which Furniture and vehicles: -€18,568
- Cash -€17,518
down €17,518 (-3.5%), from €505,327 to €487,809
mainly Contributions, distributions and other (-€250,000) and Stocks and contracts (-€45,000)
- Reserves -€100,000
down €100,000 (-43.0%), from €232,322 to €132,322
of which Distributable reserves: -€100,000
- Other debts +€41,310
up €41,310 (+9.9%), from €417,470 to €458,780
- Tax, wage and social debts -€23,644
down €23,644 (-60.1%), from €39,356 to €15,712
of which Taxes: -€23,542
- Trade debts +€21,891
up €21,891 (+101%), from €21,670 to €43,561
- Debts after one year -€10,000
down €10,000 (-31.6%), from €31,667 to €21,666
- Gross operating margin -€106,081
down €106,081 (-25.4%), from €417,727 to €311,646
- Taxes -€28,468
down €28,468 (-34.3%), from €82,908 to €54,440
- Financial charges -€8,591
down €8,591 (-23.3%), from €36,888 to €28,297
- Staff costs +€8,191
up €8,191 (+15.5%), from €52,719 to €60,910
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 | €788,490 | €717,609 | -€70,880 | -9.0% |
| Fixed assets | 21/28 | €72,206 | €51,256 | -€20,950 | -29.0% |
| Tangible fixed assets | 22/27 | €70,756 | €49,806 | -€20,950 | -29.6% |
| Plant, machinery and equipment | 23 | €4,258 | €2,365 | -€1,893 | -44.5% |
| Furniture and vehicles | 24 | €66,009 | €47,441 | -€18,568 | -28.1% |
| Other tangible fixed assets | 26 | €488 | - | -€488 | |
| Financial fixed assets | 28 | €1,450 | €1,450 | = | 0.0% |
| Current assets | 29/58 | €716,284 | €666,353 | -€49,931 | -7.0% |
| Stocks and contracts in progress | 3 | €40,000 | €85,000 | +€45,000 | +113% |
| Stocks | 30/36 | €15,000 | €15,000 | = | 0.0% |
| Contracts in progress | 37 | €25,000 | €70,000 | +€45,000 | +180% |
| Amounts receivable within one year | 40/41 | €131,368 | €89,887 | -€41,480 | -31.6% |
| Trade receivables | 40 | €124,276 | €41,970 | -€82,305 | -66.2% |
| Other amounts receivable | 41 | €7,092 | €47,917 | +€40,825 | +576% |
| Cash at bank and in hand | 54/58 | €505,327 | €487,809 | -€17,518 | -3.5% |
| Deferred charges and accrued income | 490/1 | €39,589 | €3,657 | -€35,932 | -90.8% |
| Total equity and liabilities | 10/49 | €788,490 | €717,609 | -€70,880 | -9.0% |
| Equity | 10/15 | €250,922 | €152,800 | -€98,121 | -39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €232,322 | €132,322 | -€100,000 | -43.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €230,462 | €130,462 | -€100,000 | -43.4% |
| Profit (loss) carried forward | 14 | - | €1,879 | +€1,879 | |
| Amounts payable | 17/49 | €537,568 | €564,809 | +€27,241 | +5.1% |
| Amounts payable after more than one year | 17 | €31,667 | €21,666 | -€10,000 | -31.6% |
| Financial debts | 170/4 | €31,667 | €21,666 | -€10,000 | -31.6% |
| Amounts payable within one year | 42/48 | €488,496 | €528,053 | +€39,557 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €21,670 | €43,561 | +€21,891 | +101% |
| Suppliers | 440/4 | €21,670 | €43,561 | +€21,891 | +101% |
| Taxes, remuneration and social security | 45 | €39,356 | €15,712 | -€23,644 | -60.1% |
| Taxes | 450/3 | €37,142 | €13,600 | -€23,542 | -63.4% |
| Remuneration and social security | 454/9 | €2,214 | €2,112 | -€102 | -4.6% |
| Other amounts payable | 47/48 | €417,470 | €458,780 | +€41,310 | +9.9% |
| Accrued charges and deferred income | 492/3 | €17,405 | €15,089 | -€2,316 | -13.3% |
| Remuneration, social security and pensions | 62 | €52,719 | €60,910 | +€8,191 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,532 | €20,950 | +€418 | +2.0% |
| Other operating charges | 640/8 | €2,439 | €2,110 | -€330 | -13.5% |
| Gross operating margin | 9900 | €417,727 | €311,646 | -€106,081 | -25.4% |
| Operating profit (loss) | 9901 | €342,037 | €227,677 | -€114,360 | -33.4% |
| Financial income | 75/76B | €5,332 | €6,939 | +€1,607 | +30.1% |
| Recurring financial income | 75 | €5,332 | €6,939 | +€1,607 | +30.1% |
| Financial charges | 65/66B | €36,888 | €28,297 | -€8,591 | -23.3% |
| Recurring financial charges | 65 | €36,888 | €28,297 | -€8,591 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €310,481 | €206,318 | -€104,162 | -33.5% |
| Income taxes | 67/77 | €82,908 | €54,440 | -€28,468 | -34.3% |
| Profit (loss) for the period | 9904 | €227,573 | €151,879 | -€75,694 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €227,573 | €151,879 | -€75,694 | -33.3% |
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.