S.RA: 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.RA
Largest movements
- Stocks and contracts +€36,850
up €36,850 (+189%), from €19,450 to €56,300
- Receivables within one year -€6,523
down €6,523 (-34.9%), from €18,667 to €12,144
of which Trade receivables: -€4,223
- Tangible fixed assets -€3,080
down €3,080 (-43.9%), from €7,019 to €3,938
- Deferred charges and accrued income -€1,670
down €1,670 (-62.5%), from €2,670 to €1,000
- Cash -€1,125
down €1,125 (-81.2%), from €1,385 to €260
mainly Stocks and contracts (-€36,850) and Other debts (-€25,274)
- Trade debts +€50,345
up €50,345 (+1,113%), from €4,523 to €54,868
- Other debts -€25,274
no longer reported in 2025 (was €25,274)
- Tax, wage and social debts -€8,574
down €8,574 (-85.1%), from €10,079 to €1,505
of which Remuneration and social security: -€7,590
- Profit (loss) carried forward +€7,955
up €7,955, from -€6,421 to €1,534
- Gross operating margin +€51,964
up €51,964 (+197%), from €26,437 to €78,401
- Staff costs +€25,556
up €25,556 (+66.9%), from €38,198 to €63,754
- Taxes +€2,110
new in 2025: €2,110
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 | €52,055 | €76,507 | +€24,452 | +47.0% |
| Fixed assets | 21/28 | €9,883 | €6,803 | -€3,080 | -31.2% |
| Tangible fixed assets | 22/27 | €7,019 | €3,938 | -€3,080 | -43.9% |
| Plant, machinery and equipment | 23 | €7,019 | €3,938 | -€3,080 | -43.9% |
| Financial fixed assets | 28 | €2,865 | €2,865 | = | 0.0% |
| Current assets | 29/58 | €42,171 | €69,704 | +€27,533 | +65.3% |
| Stocks and contracts in progress | 3 | €19,450 | €56,300 | +€36,850 | +189% |
| Stocks | 30/36 | €19,450 | €56,300 | +€36,850 | +189% |
| Amounts receivable within one year | 40/41 | €18,667 | €12,144 | -€6,523 | -34.9% |
| Trade receivables | 40 | €10,829 | €6,606 | -€4,223 | -39.0% |
| Other amounts receivable | 41 | €7,839 | €5,539 | -€2,300 | -29.3% |
| Cash at bank and in hand | 54/58 | €1,385 | €260 | -€1,125 | -81.2% |
| Deferred charges and accrued income | 490/1 | €2,670 | €1,000 | -€1,670 | -62.5% |
| Total equity and liabilities | 10/49 | €52,055 | €76,507 | +€24,452 | +47.0% |
| Equity | 10/15 | €12,179 | €20,134 | +€7,955 | +65.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,421 | €1,534 | +€7,955 | |
| Amounts payable | 17/49 | €39,875 | €56,373 | +€16,498 | +41.4% |
| Amounts payable within one year | 42/48 | €39,875 | €56,373 | +€16,498 | +41.4% |
| Trade debts | 44 | €4,523 | €54,868 | +€50,345 | +1,113% |
| Suppliers | 440/4 | €4,523 | €54,868 | +€50,345 | +1,113% |
| Taxes, remuneration and social security | 45 | €10,079 | €1,505 | -€8,574 | -85.1% |
| Taxes | 450/3 | €984 | - | -€984 | |
| Remuneration and social security | 454/9 | €9,095 | €1,505 | -€7,590 | -83.5% |
| Other amounts payable | 47/48 | €25,274 | - | -€25,274 | |
| Remuneration, social security and pensions | 62 | €38,198 | €63,754 | +€25,556 | +66.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,509 | €3,080 | +€571 | +22.8% |
| Other operating charges | 640/8 | €838 | €834 | -€3 | -0.4% |
| Non-recurring operating charges | 66A | €337 | €127 | -€211 | -62.5% |
| Gross operating margin | 9900 | €26,437 | €78,401 | +€51,964 | +197% |
| Operating profit (loss) | 9901 | -€15,445 | €10,605 | +€26,050 | |
| Financial charges | 65/66B | €1,068 | €540 | -€528 | -49.4% |
| Recurring financial charges | 65 | €1,068 | €540 | -€528 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,513 | €10,065 | +€26,578 | |
| Income taxes | 67/77 | - | €2,110 | +€2,110 | |
| Profit (loss) for the period | 9904 | -€16,513 | €7,955 | +€24,468 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,513 | €7,955 | +€24,468 |
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 21 October 2026 via checked.be.