S.R.W.: 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.W.
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Current portion of long-term debt -€11,431
down €11,431 (-100%), from €11,431 to €0
- Reserves +€8,808
up €8,808 (+4.2%), from €208,490 to €217,298
of which Distributable reserves: +€8,808
- Trade debts +€6,048
up €6,048 (+401%), from €1,507 to €7,555
- Tax, wage and social debts -€5,180
down €5,180 (-98.5%), from €5,258 to €77
- Gross operating margin -€7,617
down €7,617 (-33.2%), from €22,967 to €15,350
- Taxes -€2,379
down €2,379 (-36.8%), from €6,457 to €4,077
- Financial charges -€257
down €257 (-51.0%), from €505 to €248
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 | €460,674 | €458,919 | -€1,755 | -0.4% |
| Fixed assets | 21/28 | €451,939 | €451,813 | -€127 | 0.0% |
| Tangible fixed assets | 22/27 | €2,539 | €2,413 | -€127 | -5.0% |
| Plant, machinery and equipment | 23 | €2,539 | €1,561 | -€978 | -38.5% |
| Furniture and vehicles | 24 | - | €851 | +€851 | |
| Financial fixed assets | 28 | €449,400 | €449,400 | = | 0.0% |
| Current assets | 29/58 | €8,735 | €7,106 | -€1,629 | -18.6% |
| Amounts receivable within one year | 40/41 | €2,859 | €4,318 | +€1,459 | +51.0% |
| Trade receivables | 40 | €2,859 | €3,982 | +€1,123 | +39.3% |
| Other amounts receivable | 41 | €0 | €336 | +€336 | |
| Cash at bank and in hand | 54/58 | €5,690 | €2,601 | -€3,088 | -54.3% |
| Deferred charges and accrued income | 490/1 | €185 | €186 | +€1 | +0.5% |
| Total equity and liabilities | 10/49 | €460,674 | €458,919 | -€1,755 | -0.4% |
| Equity | 10/15 | €439,090 | €447,898 | +€8,808 | +2.0% |
| Contributions | 10/11 | €230,600 | €230,600 | = | 0.0% |
| Reserves | 13 | €208,490 | €217,298 | +€8,808 | +4.2% |
| Non-distributable reserves | 130/1 | €607 | €607 | = | 0.0% |
| Reserves not available under the articles | 1311 | €607 | €607 | = | 0.0% |
| Distributable reserves | 133 | €207,884 | €216,692 | +€8,808 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €21,584 | €11,021 | -€10,563 | -48.9% |
| Amounts payable after more than one year | 17 | €3,388 | €3,388 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €3,388 | €3,388 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,196 | €7,632 | -€10,563 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €11,431 | €0 | -€11,431 | -100% |
| Trade debts | 44 | €1,507 | €7,555 | +€6,048 | +401% |
| Suppliers | 440/4 | €1,507 | €7,555 | +€6,048 | +401% |
| Taxes, remuneration and social security | 45 | €5,258 | €77 | -€5,180 | -98.5% |
| Taxes | 450/3 | €5,258 | €77 | -€5,180 | -98.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,363 | €1,203 | -€161 | -11.8% |
| Other operating charges | 640/8 | €828 | €1,014 | +€185 | +22.4% |
| Gross operating margin | 9900 | €22,967 | €15,350 | -€7,617 | -33.2% |
| Operating profit (loss) | 9901 | €20,775 | €13,133 | -€7,642 | -36.8% |
| Financial charges | 65/66B | €505 | €248 | -€257 | -51.0% |
| Recurring financial charges | 65 | €505 | €248 | -€257 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €20,270 | €12,885 | -€7,385 | -36.4% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €6,457 | €4,077 | -€2,379 | -36.8% |
| Profit (loss) for the period | 9904 | €13,814 | €8,808 | -€5,006 | -36.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €13,814 | €8,808 | -€5,006 | -36.2% |
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 28 October 2026 via checked.be.