S1 Digital: 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.
S1 Digital
Largest movements
- Receivables within one year +€402,312
up €402,312 (+15.9%), from €2.5m to €2.9m
of which Other amounts receivable: +€204,096
- Cash +€127,064
up €127,064 (+27.4%), from €463,865 to €590,929
mainly Short-term financial debts (+€250,000) and Tax, wage and social debts (+€156,695)
- Current investments -€100,936
no longer reported in 2025 (was €100,936)
- Tangible fixed assets +€94,485
up €94,485 (+111.7%), from €84,596 to €179,081
of which Furniture and vehicles: +€95,033
- Short-term financial debts +€250,000
up €250,000 (+100.0%), from €250,000 to €500,000
- Tax, wage and social debts +€156,695
up €156,695 (+65.5%), from €239,332 to €396,027
of which Remuneration and social security: +€125,401
- Reserves +€66,709
up €66,709 (+9.3%), from €713,595 to €780,304
- Trade debts +€54,286
up €54,286 (+2.8%), from €2.0m to €2.0m
- Staff costs +€750,673
up €750,673 (+97.9%), from €767,136 to €1.5m
- Gross operating margin +€615,111
up €615,111 (+55.9%), from €1.1m to €1.7m
- Taxes -€42,057
down €42,057 (-55.4%), from €75,880 to €33,823
- Depreciation +€29,376
up €29,376 (+368.2%), from €7,978 to €37,353
- Financial charges +€19,853
up €19,853 (+39.6%), from €50,104 to €69,957
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 | €3,196,746 | €3,721,756 | +€525,010 | +16.4% |
| Fixed assets | 21/28 | €94,123 | €189,092 | +€94,969 | +100.9% |
| Tangible fixed assets | 22/27 | €84,596 | €179,081 | +€94,485 | +111.7% |
| Furniture and vehicles | 24 | €83,500 | €178,533 | +€95,033 | +113.8% |
| Other tangible fixed assets | 26 | €1,096 | €548 | -€548 | -50.0% |
| Financial fixed assets | 28 | €9,527 | €10,011 | +€484 | +5.1% |
| Current assets | 29/58 | €3,102,623 | €3,532,664 | +€430,041 | +13.9% |
| Amounts receivable within one year | 40/41 | €2,532,198 | €2,934,510 | +€402,312 | +15.9% |
| Trade receivables | 40 | €2,532,198 | €2,730,414 | +€198,216 | +7.8% |
| Other amounts receivable | 41 | - | €204,096 | +€204,096 | |
| Current investments | 50/53 | €100,936 | - | -€100,936 | |
| Cash at bank and in hand | 54/58 | €463,865 | €590,929 | +€127,064 | +27.4% |
| Deferred charges and accrued income | 490/1 | €5,624 | €7,226 | +€1,601 | +28.5% |
| Total equity and liabilities | 10/49 | €3,196,746 | €3,721,756 | +€525,010 | +16.4% |
| Equity | 10/15 | €732,195 | €798,904 | +€66,709 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €713,595 | €780,304 | +€66,709 | +9.3% |
| Distributable reserves | 133 | €713,595 | €780,304 | +€66,709 | +9.3% |
| Amounts payable | 17/49 | €2,464,551 | €2,922,852 | +€458,302 | +18.6% |
| Amounts payable within one year | 42/48 | €2,460,260 | €2,921,241 | +€460,981 | +18.7% |
| Financial debts | 43 | €250,000 | €500,000 | +€250,000 | +100.0% |
| Credit institutions | 430/8 | €250,000 | €500,000 | +€250,000 | +100.0% |
| Trade debts | 44 | €1,970,928 | €2,025,214 | +€54,286 | +2.8% |
| Suppliers | 440/4 | €1,970,928 | €2,025,214 | +€54,286 | +2.8% |
| Taxes, remuneration and social security | 45 | €239,332 | €396,027 | +€156,695 | +65.5% |
| Taxes | 450/3 | €125,525 | €156,818 | +€31,293 | +24.9% |
| Remuneration and social security | 454/9 | €113,807 | €239,208 | +€125,401 | +110.2% |
| Accrued charges and deferred income | 492/3 | €4,290 | €1,611 | -€2,679 | -62.4% |
| Remuneration, social security and pensions | 62 | €767,136 | €1,517,809 | +€750,673 | +97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,978 | €37,353 | +€29,376 | +368.2% |
| Other operating charges | 640/8 | €6,153 | €6,373 | +€220 | +3.6% |
| Gross operating margin | 9900 | €1,100,729 | €1,715,840 | +€615,111 | +55.9% |
| Operating profit (loss) | 9901 | €319,462 | €154,305 | -€165,157 | -51.7% |
| Financial income | 75/76B | €16,555 | €16,183 | -€371 | -2.2% |
| Recurring financial income | 75 | €16,555 | €16,183 | -€371 | -2.2% |
| Financial charges | 65/66B | €50,104 | €69,957 | +€19,853 | +39.6% |
| Recurring financial charges | 65 | €50,104 | €69,957 | +€19,853 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €285,913 | €100,531 | -€185,381 | -64.8% |
| Income taxes | 67/77 | €75,880 | €33,823 | -€42,057 | -55.4% |
| Profit (loss) for the period | 9904 | €210,033 | €66,709 | -€143,324 | -68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €210,033 | €66,709 | -€143,324 | -68.2% |
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 9 October 2026 via checked.be.