S.W. ROBERT: 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.W. ROBERT
Largest movements
- Receivables within one year -€15,886
down €15,886 (-62.8%), from €25,296 to €9,410
of which Trade receivables: -€16,249
- Tangible fixed assets -€10,970
down €10,970 (-12.7%), from €86,553 to €75,584
- Profit (loss) carried forward -€17,904
down €17,904 (-51.7%), from -€34,627 to -€52,531
- Debts after one year -€4,831
down €4,831 (-9.6%), from €50,386 to €45,554
- Other debts -€3,277
down €3,277 (-5.6%), from €58,043 to €54,766
- Gross operating margin -€14,006
down €14,006 (-92.2%), from €15,187 to €1,181
- Financial charges +€447
up €447 (+19.9%), from €2,241 to €2,688
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 | €114,371 | €87,885 | -€26,485 | -23.2% |
| Fixed assets | 21/28 | €86,553 | €75,584 | -€10,970 | -12.7% |
| Tangible fixed assets | 22/27 | €86,553 | €75,584 | -€10,970 | -12.7% |
| Land and buildings | 22 | €59,926 | €56,808 | -€3,118 | -5.2% |
| Plant, machinery and equipment | 23 | €7,811 | €4,891 | -€2,920 | -37.4% |
| Furniture and vehicles | 24 | €18,816 | €13,884 | -€4,932 | -26.2% |
| Current assets | 29/58 | €27,817 | €12,302 | -€15,515 | -55.8% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,296 | €9,410 | -€15,886 | -62.8% |
| Trade receivables | 40 | €24,233 | €7,984 | -€16,249 | -67.1% |
| Other amounts receivable | 41 | €1,063 | €1,426 | +€363 | +34.2% |
| Cash at bank and in hand | 54/58 | €21 | - | -€21 | |
| Deferred charges and accrued income | 490/1 | - | €392 | +€392 | |
| Total equity and liabilities | 10/49 | €114,371 | €87,885 | -€26,485 | -23.2% |
| Equity | 10/15 | -€10,027 | -€27,931 | -€17,904 | -179% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,627 | -€52,531 | -€17,904 | -51.7% |
| Amounts payable | 17/49 | €124,397 | €115,816 | -€8,581 | -6.9% |
| Amounts payable after more than one year | 17 | €50,386 | €45,554 | -€4,831 | -9.6% |
| Financial debts | 170/4 | €50,386 | €45,554 | -€4,831 | -9.6% |
| Amounts payable within one year | 42/48 | €74,012 | €70,262 | -€3,750 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €4,563 | €4,831 | +€268 | +5.9% |
| Financial debts | 43 | €4,541 | €4,135 | -€406 | -8.9% |
| Credit institutions | 430/8 | €4,541 | €4,135 | -€406 | -8.9% |
| Trade debts | 44 | €5,364 | €5,029 | -€335 | -6.3% |
| Suppliers | 440/4 | €5,364 | €5,029 | -€335 | -6.3% |
| Taxes, remuneration and social security | 45 | €1,500 | €1,500 | = | 0.0% |
| Taxes | 450/3 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €58,043 | €54,766 | -€3,277 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,845 | €10,970 | +€125 | +1.2% |
| Other operating charges | 640/8 | €1,457 | €1,482 | +€25 | +1.7% |
| Non-recurring operating charges | 66A | - | €3,970 | +€3,970 | |
| Gross operating margin | 9900 | €15,187 | €1,181 | -€14,006 | -92.2% |
| Operating profit (loss) | 9901 | €2,884 | -€15,242 | -€18,126 | |
| Financial income | 75/76B | €103 | €26 | -€77 | -74.7% |
| Recurring financial income | 75 | €103 | €26 | -€77 | -74.7% |
| Financial charges | 65/66B | €2,241 | €2,688 | +€447 | +19.9% |
| Recurring financial charges | 65 | €2,241 | €2,688 | +€447 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €746 | -€17,904 | -€18,650 | |
| Profit (loss) for the period | 9904 | €746 | -€17,904 | -€18,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €746 | -€17,904 | -€18,650 |
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 17 October 2026 via checked.be.