S-work-S: what changed
Two fiscal 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-work-S
Largest movements
- Cash -€64,180
down €64,180 (-54.1%), from €118,681 to €54,500
mainly Debts after one year (-€58,889) and Tax, wage and social debts (-€43,202)
- Tangible fixed assets -€13,285
down €13,285 (-22.9%), from €58,002 to €44,718
of which Leasing and similar rights: -€9,274
- Debts after one year -€58,889
down €58,889 (-24.3%), from €242,780 to €183,890
- Tax, wage and social debts -€43,202
down €43,202 (-44.4%), from €97,400 to €54,198
of which Taxes: -€43,202
- Profit (loss) carried forward +€38,856
up €38,856 (+15.3%), from €253,749 to €292,605
- Gross operating margin -€67,321
down €67,321 (-45.4%), from €148,384 to €81,063
- Taxes -€14,012
down €14,012 (-44.8%), from €31,269 to €17,257
- Depreciation +€8,816
up €8,816 (+197.3%), from €4,469 to €13,285
- Financial charges +€2,668
up €2,668 (+55.4%), from €4,814 to €7,482
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.
Cash bridge derived
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 | €674,421 | €602,007 | -€72,414 | -10.7% |
| Fixed assets | 21/28 | €538,002 | €524,718 | -€13,285 | -2.5% |
| Tangible fixed assets | 22/27 | €58,002 | €44,718 | -€13,285 | -22.9% |
| Furniture and vehicles | 24 | €12,168 | €8,157 | -€4,011 | -33.0% |
| Leasing and similar rights | 25 | €45,834 | €36,561 | -€9,274 | -20.2% |
| Financial fixed assets | 28 | €480,000 | €480,000 | = | 0.0% |
| Current assets | 29/58 | €136,419 | €77,290 | -€59,129 | -43.3% |
| Amounts receivable within one year | 40/41 | €14,196 | €20,462 | +€6,266 | +44.1% |
| Trade receivables | 40 | €14,196 | €17,719 | +€3,523 | +24.8% |
| Other amounts receivable | 41 | - | €2,743 | +€2,743 | |
| Cash at bank and in hand | 54/58 | €118,681 | €54,500 | -€64,180 | -54.1% |
| Deferred charges and accrued income | 490/1 | €3,542 | €2,328 | -€1,214 | -34.3% |
| Total equity and liabilities | 10/49 | €674,421 | €602,007 | -€72,414 | -10.7% |
| Equity | 10/15 | €258,749 | €297,605 | +€38,856 | +15.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €253,749 | €292,605 | +€38,856 | +15.3% |
| Amounts payable | 17/49 | €415,672 | €304,402 | -€111,270 | -26.8% |
| Amounts payable after more than one year | 17 | €242,780 | €183,890 | -€58,889 | -24.3% |
| Financial debts | 170/4 | €242,780 | €183,890 | -€58,889 | -24.3% |
| Amounts payable within one year | 42/48 | €162,603 | €116,515 | -€46,088 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €44,688 | €44,722 | +€34 | +0.1% |
| Financial debts | 43 | €16,667 | €16,667 | = | 0.0% |
| Other loans | 439 | €16,667 | €16,667 | = | 0.0% |
| Trade debts | 44 | €2,894 | - | -€2,894 | |
| Suppliers | 440/4 | €2,894 | - | -€2,894 | |
| Taxes, remuneration and social security | 45 | €97,400 | €54,198 | -€43,202 | -44.4% |
| Taxes | 450/3 | €94,995 | €51,793 | -€43,202 | -45.5% |
| Remuneration and social security | 454/9 | €2,405 | €2,405 | = | 0.0% |
| Other amounts payable | 47/48 | €954 | €928 | -€26 | -2.7% |
| Accrued charges and deferred income | 492/3 | €10,290 | €3,997 | -€6,293 | -61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,469 | €13,285 | +€8,816 | +197.3% |
| Other operating charges | 640/8 | €3,753 | €3,350 | -€404 | -10.8% |
| Gross operating margin | 9900 | €148,384 | €81,063 | -€67,321 | -45.4% |
| Operating profit (loss) | 9901 | €140,162 | €64,428 | -€75,734 | -54.0% |
| Financial charges | 65/66B | €4,814 | €7,482 | +€2,668 | +55.4% |
| Recurring financial charges | 65 | €4,814 | €7,482 | +€2,668 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €135,348 | €56,946 | -€78,402 | -57.9% |
| Income taxes | 67/77 | €31,269 | €17,257 | -€14,012 | -44.8% |
| Profit (loss) for the period | 9904 | €104,078 | €39,689 | -€64,389 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €104,078 | €39,689 | -€64,389 | -61.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.