S R T: 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 T
Largest movements
- Tangible fixed assets +€15,854
up €15,854 (+33.3%), from €47,630 to €63,484
of which Furniture and vehicles: +€19,016
- Receivables within one year -€4,225
down €4,225 (-33.7%), from €12,541 to €8,315
of which Trade receivables: -€4,888
- Cash +€4,066
up €4,066 (+37.0%), from €10,981 to €15,048
mainly Other debts (+€36,714) and Debts after one year (+€18,223)
- Stocks and contracts +€2,500
up €2,500 (+15.2%), from €16,500 to €19,000
- Trade debts -€39,147
down €39,147 (-74.5%), from €52,560 to €13,413
- Other debts +€36,714
up €36,714 (+47.1%), from €78,008 to €114,722
- Debts after one year +€18,223
up €18,223 (+26.0%), from €70,059 to €88,282
- Current portion of long-term debt +€2,523
new in 2025: €2,523
- Tax, wage and social debts -€2,115
down €2,115 (-65.5%), from €3,228 to €1,113
of which Taxes: -€1,067
- Gross operating margin +€20,360
up €20,360 (+156%), from €13,057 to €33,417
- Depreciation +€3,210
up €3,210 (+23.8%), from €13,486 to €16,696
- Other operating charges -€337
down €337 (-12.8%), from €2,626 to €2,288
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 | €91,689 | €109,906 | +€18,217 | +19.9% |
| Fixed assets | 21/28 | €47,998 | €63,852 | +€15,854 | +33.0% |
| Tangible fixed assets | 22/27 | €47,630 | €63,484 | +€15,854 | +33.3% |
| Land and buildings | 22 | €19,726 | €16,565 | -€3,161 | -16.0% |
| Furniture and vehicles | 24 | €27,904 | €46,919 | +€19,016 | +68.1% |
| Financial fixed assets | 28 | €369 | €369 | = | 0.0% |
| Current assets | 29/58 | €43,691 | €46,053 | +€2,362 | +5.4% |
| Stocks and contracts in progress | 3 | €16,500 | €19,000 | +€2,500 | +15.2% |
| Stocks | 30/36 | €16,500 | €19,000 | +€2,500 | +15.2% |
| Amounts receivable within one year | 40/41 | €12,541 | €8,315 | -€4,225 | -33.7% |
| Trade receivables | 40 | €12,487 | €7,599 | -€4,888 | -39.1% |
| Other amounts receivable | 41 | €53 | €716 | +€663 | +1,244% |
| Cash at bank and in hand | 54/58 | €10,981 | €15,048 | +€4,066 | +37.0% |
| Deferred charges and accrued income | 490/1 | €3,669 | €3,691 | +€22 | +0.6% |
| Total equity and liabilities | 10/49 | €91,689 | €109,906 | +€18,217 | +19.9% |
| Equity | 10/15 | -€114,556 | -€114,163 | +€393 | +0.3% |
| Contributions | 10/11 | €1,239 | €1,239 | = | 0.0% |
| Reserves | 13 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €124 | €124 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,919 | -€115,526 | +€393 | +0.3% |
| Amounts payable | 17/49 | €206,245 | €224,068 | +€17,824 | +8.6% |
| Amounts payable after more than one year | 17 | €70,059 | €88,282 | +€18,223 | +26.0% |
| Financial debts | 170/4 | €70,059 | €88,282 | +€18,223 | +26.0% |
| Amounts payable within one year | 42/48 | €136,186 | €135,787 | -€399 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | - | €2,523 | +€2,523 | |
| Trade debts | 44 | €52,560 | €13,413 | -€39,147 | -74.5% |
| Suppliers | 440/4 | €52,560 | €13,413 | -€39,147 | -74.5% |
| Advances received on contracts in progress | 46 | €2,390 | €4,016 | +€1,626 | +68.0% |
| Taxes, remuneration and social security | 45 | €3,228 | €1,113 | -€2,115 | -65.5% |
| Taxes | 450/3 | €1,067 | - | -€1,067 | |
| Remuneration and social security | 454/9 | €2,162 | €1,113 | -€1,048 | -48.5% |
| Other amounts payable | 47/48 | €78,008 | €114,722 | +€36,714 | +47.1% |
| Remuneration, social security and pensions | 62 | €13,465 | €13,601 | +€136 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,486 | €16,696 | +€3,210 | +23.8% |
| Other operating charges | 640/8 | €2,626 | €2,288 | -€337 | -12.8% |
| Gross operating margin | 9900 | €13,057 | €33,417 | +€20,360 | +156% |
| Operating profit (loss) | 9901 | -€16,519 | €832 | +€17,351 | |
| Financial income | 75/76B | €108 | €71 | -€37 | -34.3% |
| Recurring financial income | 75 | €108 | €71 | -€37 | -34.3% |
| Financial charges | 65/66B | €349 | €510 | +€161 | +46.2% |
| Recurring financial charges | 65 | €349 | €510 | +€161 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,760 | €393 | +€17,153 | |
| Profit (loss) for the period | 9904 | -€16,760 | €393 | +€17,153 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,760 | €393 | +€17,153 |
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 27 October 2026 via checked.be.