S²PB: what changed
S²PB
Largest movements
- Cash +€462,023
up €462,023 (+135%), from €342,388 to €804,411
mainly Net result for the year (+€626,907) and Tax, wage and social debts (+€37,340)
- Tangible fixed assets -€67,815
down €67,815 (-56.8%), from €119,289 to €51,474
of which Furniture and vehicles: -€66,907
- Reserves +€626,900
up €626,900 (+33.5%), from €1.9m to €2.5m
- Debts after one year -€259,607
down €259,607 (-27.1%), from €956,615 to €697,009
of which Financial debts: -€259,607
- Tax, wage and social debts +€37,340
up €37,340 (+38.4%), from €97,174 to €134,513
- Financial income -€69,463
down €69,463 (-11.5%), from €602,634 to €533,171
- Gross operating margin -€46,152
down €46,152 (-14.5%), from €318,469 to €272,317
- Financial charges -€19,699
down €19,699 (-54.5%), from €36,135 to €16,436
- Taxes -€15,352
down €15,352 (-11.9%), from €128,853 to €113,502
- Other operating charges +€9,685
up €9,685 (+491%), from €1,971 to €11,656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,279,848 | €3,683,981 | +€404,133 | +12.3% |
| Fixed assets | 21/28 | €2,884,289 | €2,816,474 | -€67,815 | -2.4% |
| Tangible fixed assets | 22/27 | €119,289 | €51,474 | -€67,815 | -56.8% |
| Plant, machinery and equipment | 23 | €6,443 | €5,535 | -€908 | -14.1% |
| Furniture and vehicles | 24 | €112,847 | €45,939 | -€66,907 | -59.3% |
| Financial fixed assets | 28 | €2,765,000 | €2,765,000 | = | 0.0% |
| Current assets | 29/58 | €395,559 | €867,507 | +€471,948 | +119% |
| Amounts receivable within one year | 40/41 | €48,735 | €44,550 | -€4,185 | -8.6% |
| Trade receivables | 40 | €48,735 | €44,550 | -€4,185 | -8.6% |
| Cash at bank and in hand | 54/58 | €342,388 | €804,411 | +€462,023 | +135% |
| Deferred charges and accrued income | 490/1 | €4,436 | €18,546 | +€14,110 | +318% |
| Total equity and liabilities | 10/49 | €3,279,848 | €3,683,981 | +€404,133 | +12.3% |
| Equity | 10/15 | €1,886,370 | €2,513,277 | +€626,907 | +33.2% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €1,873,500 | €2,500,400 | +€626,900 | +33.5% |
| Distributable reserves | 133 | €1,873,500 | €2,500,400 | +€626,900 | +33.5% |
| Profit (loss) carried forward | 14 | €8,370 | €8,377 | +€7 | +0.1% |
| Amounts payable | 17/49 | €1,393,479 | €1,170,704 | -€222,775 | -16.0% |
| Amounts payable after more than one year | 17 | €956,615 | €697,009 | -€259,607 | -27.1% |
| Financial debts | 170/4 | €956,615 | €697,009 | -€259,607 | -27.1% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €413,336 | €465,091 | +€51,755 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €269,564 | €254,916 | -€14,647 | -5.4% |
| Trade debts | 44 | €10,162 | €34,057 | +€23,895 | +235% |
| Suppliers | 440/4 | €10,162 | €34,057 | +€23,895 | +235% |
| Taxes, remuneration and social security | 45 | €97,174 | €134,513 | +€37,340 | +38.4% |
| Taxes | 450/3 | €97,174 | €134,513 | +€37,340 | +38.4% |
| Other amounts payable | 47/48 | €36,437 | €41,605 | +€5,168 | +14.2% |
| Accrued charges and deferred income | 492/3 | €23,527 | €8,604 | -€14,923 | -63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,546 | €36,987 | -€8,559 | -18.8% |
| Other operating charges | 640/8 | €1,971 | €11,656 | +€9,685 | +491% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €318,469 | €272,317 | -€46,152 | -14.5% |
| Operating profit (loss) | 9901 | €270,953 | €223,674 | -€47,278 | -17.4% |
| Financial income | 75/76B | €602,634 | €533,171 | -€69,463 | -11.5% |
| Recurring financial income | 75 | €602,634 | €533,171 | -€69,463 | -11.5% |
| Financial charges | 65/66B | €36,135 | €16,436 | -€19,699 | -54.5% |
| Recurring financial charges | 65 | €36,135 | €16,436 | -€19,699 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €837,451 | €740,409 | -€97,043 | -11.6% |
| Income taxes | 67/77 | €128,853 | €113,502 | -€15,352 | -11.9% |
| Profit (loss) for the period | 9904 | €708,598 | €626,907 | -€81,691 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €708,598 | €626,907 | -€81,691 | -11.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.