S&R: 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&R
Largest movements
- Tangible fixed assets -€82,649
down €82,649 (-39.5%), from €209,402 to €126,753
of which Plant, machinery and equipment: -€80,937
- Cash -€7,240
down €7,240 (-12.3%), from €59,083 to €51,843
mainly Debts after one year (-€88,986) and Net result for the year (-€76,943)
- Stocks and contracts -€6,131
down €6,131 (-3.2%), from €192,204 to €186,073
- Debts after one year -€88,986
down €88,986 (-87.7%), from €101,486 to €12,500
- Profit (loss) carried forward -€76,943
down €76,943 (-70.6%), from -€108,986 to -€185,929
- Trade debts +€55,532
up €55,532 (+19.9%), from €278,653 to €334,186
- Tax, wage and social debts +€16,814
up €16,814 (+196.8%), from €8,544 to €25,358
of which Remuneration and social security: +€12,656
- Gross operating margin -€37,831
down €37,831 (-15.3%), from €246,499 to €208,668
- Staff costs +€23,929
up €23,929 (+15.8%), from €151,152 to €175,081
- Financial charges -€3,005
down €3,005 (-18.0%), from €16,716 to €13,711
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.
Cash bridge derived
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 | €476,255 | €386,668 | -€89,587 | -18.8% |
| Fixed assets | 21/28 | €209,402 | €126,753 | -€82,649 | -39.5% |
| Tangible fixed assets | 22/27 | €209,402 | €126,753 | -€82,649 | -39.5% |
| Plant, machinery and equipment | 23 | €206,395 | €125,458 | -€80,937 | -39.2% |
| Furniture and vehicles | 24 | €3,007 | €1,295 | -€1,712 | -56.9% |
| Current assets | 29/58 | €266,853 | €259,915 | -€6,939 | -2.6% |
| Stocks and contracts in progress | 3 | €192,204 | €186,073 | -€6,131 | -3.2% |
| Stocks | 30/36 | €192,204 | €186,073 | -€6,131 | -3.2% |
| Amounts receivable within one year | 40/41 | €13,596 | €16,610 | +€3,015 | +22.2% |
| Trade receivables | 40 | - | €2,665 | +€2,665 | |
| Other amounts receivable | 41 | €13,596 | €13,945 | +€350 | +2.6% |
| Cash at bank and in hand | 54/58 | €59,083 | €51,843 | -€7,240 | -12.3% |
| Deferred charges and accrued income | 490/1 | €1,971 | €5,388 | +€3,418 | +173.4% |
| Total equity and liabilities | 10/49 | €476,255 | €386,668 | -€89,587 | -18.8% |
| Equity | 10/15 | €11,014 | -€65,929 | -€76,943 | |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,986 | -€185,929 | -€76,943 | -70.6% |
| Amounts payable | 17/49 | €465,241 | €452,597 | -€12,644 | -2.7% |
| Amounts payable after more than one year | 17 | €101,486 | €12,500 | -€88,986 | -87.7% |
| Financial debts | 170/4 | €101,486 | €12,500 | -€88,986 | -87.7% |
| Amounts payable within one year | 42/48 | €363,755 | €436,847 | +€73,092 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €75,741 | €76,486 | +€745 | +1.0% |
| Trade debts | 44 | €278,653 | €334,186 | +€55,532 | +19.9% |
| Suppliers | 440/4 | €278,653 | €334,186 | +€55,532 | +19.9% |
| Taxes, remuneration and social security | 45 | €8,544 | €25,358 | +€16,814 | +196.8% |
| Taxes | 450/3 | €177 | €4,336 | +€4,158 | +2343.9% |
| Remuneration and social security | 454/9 | €8,367 | €21,022 | +€12,656 | +151.3% |
| Other amounts payable | 47/48 | €817 | €817 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,250 | +€3,250 | |
| Remuneration, social security and pensions | 62 | €151,152 | €175,081 | +€23,929 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,581 | €94,116 | +€1,535 | +1.7% |
| Other operating charges | 640/8 | €3,105 | €2,896 | -€209 | -6.7% |
| Gross operating margin | 9900 | €246,499 | €208,668 | -€37,831 | -15.3% |
| Operating profit (loss) | 9901 | -€339 | -€63,425 | -€63,086 | -18629.2% |
| Financial income | 75/76B | €451 | €424 | -€27 | -6.0% |
| Recurring financial income | 75 | €451 | €424 | -€27 | -6.0% |
| Financial charges | 65/66B | €16,716 | €13,711 | -€3,005 | -18.0% |
| Recurring financial charges | 65 | €16,716 | €13,711 | -€3,005 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,604 | -€76,712 | -€60,108 | -362.0% |
| Income taxes | 67/77 | €244 | €231 | -€12 | -5.0% |
| Profit (loss) for the period | 9904 | -€16,848 | -€76,943 | -€60,095 | -356.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,848 | -€76,943 | -€60,095 | -356.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.