S-WORKS INTERIOR: 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-WORKS INTERIOR
Largest movements
- Tangible fixed assets +€89,315
up €89,315 (+32.6%), from €273,875 to €363,190
of which Leasing and similar rights: +€102,980
- Receivables within one year +€34,648
up €34,648 (+51.7%), from €67,056 to €101,704
of which Trade receivables: +€27,456
- Receivables after one year -€19,980
down €19,980 (-12.6%), from €158,177 to €138,197
- Cash -€11,075
down €11,075 (-20.7%), from €53,419 to €42,344
mainly Investment in fixed assets (net) (-€118,417) and Receivables within one year (-€34,648)
- Debts after one year +€61,295
up €61,295 (+16.0%), from €382,118 to €443,413
- Reserves +€33,777
up €33,777 (+65.7%), from €51,383 to €85,159
- Trade debts -€20,138
down €20,138 (-44.4%), from €45,336 to €25,198
- Current portion of long-term debt +€15,681
up €15,681 (+34.0%), from €46,139 to €61,820
- Taxes -€3,981
down €3,981 (-36.4%), from €10,936 to €6,955
- Depreciation -€3,933
down €3,933 (-11.6%), from €34,034 to €30,102
- Gross operating margin -€3,679
down €3,679 (-2.6%), from €140,547 to €136,868
- Staff costs -€2,753
down €2,753 (-5.0%), from €55,464 to €52,712
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 | €565,100 | €657,500 | +€92,400 | +16.4% |
| Fixed assets | 21/28 | €281,075 | €369,390 | +€88,315 | +31.4% |
| Intangible fixed assets | 21 | €7,200 | €6,200 | -€1,000 | -13.9% |
| Tangible fixed assets | 22/27 | €273,875 | €363,190 | +€89,315 | +32.6% |
| Land and buildings | 22 | €198,210 | €192,060 | -€6,150 | -3.1% |
| Plant, machinery and equipment | 23 | €8,530 | €6,894 | -€1,636 | -19.2% |
| Furniture and vehicles | 24 | €54,235 | €48,357 | -€5,878 | -10.8% |
| Leasing and similar rights | 25 | €12,900 | €115,880 | +€102,980 | +798% |
| Current assets | 29/58 | €284,026 | €288,110 | +€4,084 | +1.4% |
| Amounts receivable after more than one year | 29 | €158,177 | €138,197 | -€19,980 | -12.6% |
| Other amounts receivable | 291 | €158,177 | €138,197 | -€19,980 | -12.6% |
| Stocks and contracts in progress | 3 | €5,122 | €5,750 | +€628 | +12.3% |
| Stocks | 30/36 | €5,122 | €5,750 | +€628 | +12.3% |
| Amounts receivable within one year | 40/41 | €67,056 | €101,704 | +€34,648 | +51.7% |
| Trade receivables | 40 | €46,385 | €73,841 | +€27,456 | +59.2% |
| Other amounts receivable | 41 | €20,671 | €27,863 | +€7,192 | +34.8% |
| Cash at bank and in hand | 54/58 | €53,419 | €42,344 | -€11,075 | -20.7% |
| Deferred charges and accrued income | 490/1 | €251 | €116 | -€135 | -53.9% |
| Total equity and liabilities | 10/49 | €565,100 | €657,500 | +€92,400 | +16.4% |
| Equity | 10/15 | €61,383 | €95,159 | +€33,777 | +55.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €51,383 | €85,159 | +€33,777 | +65.7% |
| Distributable reserves | 133 | €51,383 | €85,159 | +€33,777 | +65.7% |
| Amounts payable | 17/49 | €503,718 | €562,341 | +€58,623 | +11.6% |
| Amounts payable after more than one year | 17 | €382,118 | €443,413 | +€61,295 | +16.0% |
| Financial debts | 170/4 | €382,118 | €443,413 | +€61,295 | +16.0% |
| Amounts payable within one year | 42/48 | €119,657 | €117,321 | -€2,335 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €46,139 | €61,820 | +€15,681 | +34.0% |
| Trade debts | 44 | €45,336 | €25,198 | -€20,138 | -44.4% |
| Suppliers | 440/4 | €45,336 | €25,198 | -€20,138 | -44.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,080 | €8,273 | +€4,193 | +103% |
| Taxes | 450/3 | €941 | €5,080 | +€4,140 | +440% |
| Remuneration and social security | 454/9 | €3,140 | €3,193 | +€53 | +1.7% |
| Other amounts payable | 47/48 | €24,102 | €22,029 | -€2,072 | -8.6% |
| Accrued charges and deferred income | 492/3 | €1,943 | €1,606 | -€336 | -17.3% |
| Remuneration, social security and pensions | 62 | €55,464 | €52,712 | -€2,753 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,034 | €30,102 | -€3,933 | -11.6% |
| Other operating charges | 640/8 | €1,263 | €1,910 | +€647 | +51.2% |
| Gross operating margin | 9900 | €140,547 | €136,868 | -€3,679 | -2.6% |
| Operating profit (loss) | 9901 | €49,785 | €52,144 | +€2,360 | +4.7% |
| Financial income | 75/76B | €14 | €438 | +€424 | +3,062% |
| Recurring financial income | 75 | €14 | €438 | +€424 | +3,062% |
| Financial charges | 65/66B | €12,071 | €11,851 | -€220 | -1.8% |
| Recurring financial charges | 65 | €12,071 | €11,851 | -€220 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €37,727 | €40,732 | +€3,004 | +8.0% |
| Income taxes | 67/77 | €10,936 | €6,955 | -€3,981 | -36.4% |
| Profit (loss) for the period | 9904 | €26,791 | €33,777 | +€6,986 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,791 | €33,777 | +€6,986 | +26.1% |
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 30 October 2026 via checked.be.