S&S: 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&S
Largest movements
- Cash +€123,674
up €123,674 (+32.1%), from €385,772 to €509,447
mainly Other debts (+€285,067) and Depreciation (+€104,785)
- Tangible fixed assets -€109,915
down €109,915 (-31.0%), from €354,836 to €244,921
of which Furniture and vehicles: -€106,242
- Receivables within one year -€30,749
down €30,749 (-15.3%), from €200,480 to €169,731
- Deferred charges and accrued income -€24,531
no longer reported in 2025 (was €24,531)
- Other debts +€285,067
up €285,067 (+8,077%), from €3,529 to €288,597
- Profit (loss) carried forward -€196,944
down €196,944 (-45.1%), from €436,206 to €239,262
- Debts after one year -€69,611
down €69,611 (-50.7%), from €137,290 to €67,679
- Trade debts -€35,139
down €35,139 (-69.6%), from €50,516 to €15,378
- Current portion of long-term debt -€28,250
down €28,250 (-28.7%), from €98,429 to €70,179
- Staff costs +€94,841
up €94,841 (+10.6%), from €893,325 to €988,166
- Turnover -€49,815
down €49,815 (-2.9%), from €1.7m to €1.6m
- Taxes -€40,363
down €40,363 (-55.5%), from €72,666 to €32,303
- Gross operating margin -€26,697
down €26,697 (-2.1%), from €1.3m to €1.3m
- Other operating charges +€20,651
up €20,651 (+158%), from €13,102 to €33,753
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 | €1,058,575 | €1,018,554 | -€40,021 | -3.8% |
| Fixed assets | 21/28 | €357,791 | €249,376 | -€108,415 | -30.3% |
| Tangible fixed assets | 22/27 | €354,836 | €244,921 | -€109,915 | -31.0% |
| Furniture and vehicles | 24 | €350,136 | €243,894 | -€106,242 | -30.3% |
| Leasing and similar rights | 25 | €4,700 | €1,027 | -€3,674 | -78.2% |
| Financial fixed assets | 28 | €2,955 | €4,455 | +€1,500 | +50.8% |
| Current assets | 29/58 | €700,784 | €769,178 | +€68,394 | +9.8% |
| Stocks and contracts in progress | 3 | €90,000 | €90,000 | = | 0.0% |
| Stocks | 30/36 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €200,480 | €169,731 | -€30,749 | -15.3% |
| Trade receivables | 40 | €200,480 | €169,731 | -€30,749 | -15.3% |
| Cash at bank and in hand | 54/58 | €385,772 | €509,447 | +€123,674 | +32.1% |
| Deferred charges and accrued income | 490/1 | €24,531 | - | -€24,531 | |
| Total equity and liabilities | 10/49 | €1,058,575 | €1,018,554 | -€40,021 | -3.8% |
| Equity | 10/15 | €556,666 | €359,722 | -€196,944 | -35.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,860 | €101,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €436,206 | €239,262 | -€196,944 | -45.1% |
| Amounts payable | 17/49 | €501,909 | €658,832 | +€156,922 | +31.3% |
| Amounts payable after more than one year | 17 | €137,290 | €67,679 | -€69,611 | -50.7% |
| Financial debts | 170/4 | €137,290 | €67,679 | -€69,611 | -50.7% |
| Amounts payable within one year | 42/48 | €348,544 | €591,153 | +€242,609 | +69.6% |
| Current portion of amounts payable after more than one year | 42 | €98,429 | €70,179 | -€28,250 | -28.7% |
| Trade debts | 44 | €50,516 | €15,378 | -€35,139 | -69.6% |
| Suppliers | 440/4 | €50,516 | €15,378 | -€35,139 | -69.6% |
| Taxes, remuneration and social security | 45 | €196,069 | €217,000 | +€20,931 | +10.7% |
| Taxes | 450/3 | €143,722 | €169,943 | +€26,222 | +18.2% |
| Remuneration and social security | 454/9 | €52,347 | €47,057 | -€5,291 | -10.1% |
| Other amounts payable | 47/48 | €3,529 | €288,597 | +€285,067 | +8,077% |
| Accrued charges and deferred income | 492/3 | €16,075 | - | -€16,075 | |
| Turnover | 70 | €1,696,756 | €1,646,942 | -€49,815 | -2.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €416,289 | €402,006 | -€14,283 | -3.4% |
| Remuneration, social security and pensions | 62 | €893,325 | €988,166 | +€94,841 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,426 | €104,785 | +€1,359 | +1.3% |
| Other operating charges | 640/8 | €13,102 | €33,753 | +€20,651 | +158% |
| Gross operating margin | 9900 | €1,301,061 | €1,274,364 | -€26,697 | -2.1% |
| Operating profit (loss) | 9901 | €291,207 | €147,659 | -€143,548 | -49.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -93.2% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -93.2% |
| Financial charges | 65/66B | €14,382 | €12,300 | -€2,082 | -14.5% |
| Recurring financial charges | 65 | €14,382 | €12,300 | -€2,082 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €276,827 | €135,359 | -€141,468 | -51.1% |
| Income taxes | 67/77 | €72,666 | €32,303 | -€40,363 | -55.5% |
| Profit (loss) for the period | 9904 | €204,161 | €103,056 | -€101,105 | -49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €204,161 | €103,056 | -€101,105 | -49.5% |
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 16 October 2026 via checked.be.