S&Y PROJECTS: 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&Y PROJECTS
Largest movements
- Tangible fixed assets -€50,350
down €50,350 (-23.2%), from €217,234 to €166,884
- Deferred charges and accrued income +€13,707
new in 2025: €13,707
- Cash -€12,647
down €12,647 (-17.9%), from €70,573 to €57,926
mainly Debts after one year (-€37,842) and Tax, wage and social debts (-€18,414)
- Stocks and contracts +€7,801
up €7,801 (+116.3%), from €6,707 to €14,508
- Debts after one year -€37,842
down €37,842 (-28.5%), from €132,810 to €94,968
- Tax, wage and social debts -€18,414
down €18,414 (-64.0%), from €28,756 to €10,342
of which Remuneration and social security: -€16,867
- Trade debts +€14,526
up €14,526 (+62.8%), from €23,128 to €37,654
- Gross operating margin -€37,216
down €37,216 (-15.8%), from €236,179 to €198,963
- Staff costs -€23,987
down €23,987 (-15.3%), from €156,908 to €132,921
- Purchases and services +€22,165
up €22,165 (+7.8%), from €284,770 to €306,936
- Depreciation -€8,659
down €8,659 (-14.6%), from €59,398 to €50,739
- Turnover +€5,081
up €5,081 (+1.0%), from €496,853 to €501,934
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 | €297,116 | €254,168 | -€42,948 | -14.5% |
| Fixed assets | 21/28 | €217,680 | €166,941 | -€50,739 | -23.3% |
| Intangible fixed assets | 21 | €447 | €58 | -€389 | -87.1% |
| Tangible fixed assets | 22/27 | €217,234 | €166,884 | -€50,350 | -23.2% |
| Plant, machinery and equipment | 23 | €82,892 | €59,805 | -€23,087 | -27.9% |
| Furniture and vehicles | 24 | €13,394 | €10,712 | -€2,681 | -20.0% |
| Other tangible fixed assets | 26 | €120,948 | €96,366 | -€24,582 | -20.3% |
| Current assets | 29/58 | €79,436 | €87,226 | +€7,791 | +9.8% |
| Stocks and contracts in progress | 3 | €6,707 | €14,508 | +€7,801 | +116.3% |
| Stocks | 30/36 | €6,707 | €14,508 | +€7,801 | +116.3% |
| Amounts receivable within one year | 40/41 | €2,156 | €1,085 | -€1,071 | -49.7% |
| Trade receivables | 40 | €1,764 | €508 | -€1,256 | -71.2% |
| Other amounts receivable | 41 | €391 | €577 | +€186 | +47.4% |
| Cash at bank and in hand | 54/58 | €70,573 | €57,926 | -€12,647 | -17.9% |
| Deferred charges and accrued income | 490/1 | - | €13,707 | +€13,707 | |
| Total equity and liabilities | 10/49 | €297,116 | €254,168 | -€42,948 | -14.5% |
| Equity | 10/15 | €29,259 | €29,566 | +€307 | +1.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,259 | €14,566 | +€307 | +2.2% |
| Amounts payable | 17/49 | €267,857 | €224,602 | -€43,255 | -16.1% |
| Amounts payable after more than one year | 17 | €132,810 | €94,968 | -€37,842 | -28.5% |
| Financial debts | 170/4 | €132,810 | €94,968 | -€37,842 | -28.5% |
| Amounts payable within one year | 42/48 | €135,047 | €129,634 | -€5,413 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €37,107 | €37,842 | +€735 | +2.0% |
| Trade debts | 44 | €23,128 | €37,654 | +€14,526 | +62.8% |
| Suppliers | 440/4 | €23,128 | €37,654 | +€14,526 | +62.8% |
| Taxes, remuneration and social security | 45 | €28,756 | €10,342 | -€18,414 | -64.0% |
| Taxes | 450/3 | €4,062 | €2,515 | -€1,547 | -38.1% |
| Remuneration and social security | 454/9 | €24,694 | €7,827 | -€16,867 | -68.3% |
| Other amounts payable | 47/48 | €46,057 | €43,797 | -€2,260 | -4.9% |
| Turnover | 70 | €496,853 | €501,934 | +€5,081 | +1.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €284,770 | €306,936 | +€22,165 | +7.8% |
| Remuneration, social security and pensions | 62 | €156,908 | €132,921 | -€23,987 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,398 | €50,739 | -€8,659 | -14.6% |
| Other operating charges | 640/8 | €6,117 | €6,679 | +€562 | +9.2% |
| Gross operating margin | 9900 | €236,179 | €198,963 | -€37,216 | -15.8% |
| Operating profit (loss) | 9901 | €13,756 | €8,624 | -€5,132 | -37.3% |
| Financial charges | 65/66B | €3,563 | €8,154 | +€4,591 | +128.9% |
| Recurring financial charges | 65 | €3,563 | €8,154 | +€4,591 | +128.9% |
| Profit (loss) for the period before taxes | 9903 | €10,193 | €470 | -€9,723 | -95.4% |
| Income taxes | 67/77 | €2,778 | €164 | -€2,614 | -94.1% |
| Profit (loss) for the period | 9904 | €7,416 | €307 | -€7,109 | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,416 | €307 | -€7,109 | -95.9% |
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 2 October 2026 via checked.be.