S-World: 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-World
Largest movements
- Receivables within one year +€8,004
up €8,004 (+105.9%), from €7,558 to €15,562
- Tangible fixed assets -€3,529
down €3,529 (-41.1%), from €8,583 to €5,054
of which Furniture and vehicles: -€2,667
- Deferred charges and accrued income -€324
down €324 (-33.7%), from €962 to €638
- Profit (loss) carried forward +€8,262
up €8,262 (+42.9%), from -€19,247 to -€10,985
- Other debts +€7,866
up €7,866 (+8550.0%), from €92 to €7,958
- Short-term financial debts -€7,105
down €7,105 (-91.6%), from €7,756 to €651
- Trade debts -€5,742
down €5,742 (-58.7%), from €9,781 to €4,039
- Tax, wage and social debts +€870
up €870 (+28.0%), from €3,110 to €3,980
- Gross operating margin +€8,922
up €8,922 (+183.2%), from €4,869 to €13,791
- Depreciation -€889
down €889 (-20.1%), from €4,418 to €3,529
- Other operating charges +€215
up €215 (+113.8%), from €189 to €404
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,103 | €24,254 | +€4,151 | +20.6% |
| Fixed assets | 21/28 | €11,583 | €8,054 | -€3,529 | -30.5% |
| Tangible fixed assets | 22/27 | €8,583 | €5,054 | -€3,529 | -41.1% |
| Plant, machinery and equipment | 23 | €3,559 | €2,697 | -€862 | -24.2% |
| Furniture and vehicles | 24 | €5,024 | €2,357 | -€2,667 | -53.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €8,520 | €16,200 | +€7,680 | +90.1% |
| Amounts receivable within one year | 40/41 | €7,558 | €15,562 | +€8,004 | +105.9% |
| Trade receivables | 40 | €7,558 | €15,562 | +€8,004 | +105.9% |
| Deferred charges and accrued income | 490/1 | €962 | €638 | -€324 | -33.7% |
| Total equity and liabilities | 10/49 | €20,103 | €24,254 | +€4,151 | +20.6% |
| Equity | 10/15 | -€636 | €7,626 | +€8,262 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11 | €11 | = | 0.0% |
| Distributable reserves | 133 | €11 | €11 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,247 | -€10,985 | +€8,262 | +42.9% |
| Amounts payable | 17/49 | €20,739 | €16,628 | -€4,111 | -19.8% |
| Amounts payable within one year | 42/48 | €20,739 | €16,628 | -€4,111 | -19.8% |
| Financial debts | 43 | €7,756 | €651 | -€7,105 | -91.6% |
| Credit institutions | 430/8 | €7,756 | €651 | -€7,105 | -91.6% |
| Trade debts | 44 | €9,781 | €4,039 | -€5,742 | -58.7% |
| Suppliers | 440/4 | €9,781 | €4,039 | -€5,742 | -58.7% |
| Taxes, remuneration and social security | 45 | €3,110 | €3,980 | +€870 | +28.0% |
| Taxes | 450/3 | €3,110 | €3,980 | +€870 | +28.0% |
| Other amounts payable | 47/48 | €92 | €7,958 | +€7,866 | +8550.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,418 | €3,529 | -€889 | -20.1% |
| Other operating charges | 640/8 | €189 | €404 | +€215 | +113.8% |
| Gross operating margin | 9900 | €4,869 | €13,791 | +€8,922 | +183.2% |
| Operating profit (loss) | 9901 | €262 | €9,858 | +€9,596 | +3662.6% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €1,663 | €1,596 | -€67 | -4.0% |
| Recurring financial charges | 65 | €1,663 | €1,596 | -€67 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,383 | €8,262 | +€9,645 | |
| Profit (loss) for the period | 9904 | -€1,383 | €8,262 | +€9,645 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,383 | €8,262 | +€9,645 |
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 3 October 2026 via checked.be.