S1T: 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.
S1T
Largest movements
- Tangible fixed assets -€15,801
down €15,801 (-58.2%), from €27,164 to €11,364
of which Furniture and vehicles: -€12,664
- Intangible fixed assets -€14,500
down €14,500 (-17.6%), from €82,484 to €67,984
- Receivables within one year -€12,114
down €12,114 (-28.3%), from €42,766 to €30,652
of which Trade receivables: -€11,520
- Deferred charges and accrued income +€2,593
up €2,593 (+80.2%), from €3,232 to €5,825
- Cash -€2,039
down €2,039 (-16.5%), from €12,323 to €10,284
mainly Tax, wage and social debts (-€25,503) and Debts after one year (-€22,622)
- Tax, wage and social debts -€25,503
down €25,503 (-70.7%), from €36,051 to €10,548
of which Remuneration and social security: -€21,420
- Debts after one year -€22,622
down €22,622 (-55.0%), from €41,150 to €18,528
- Reserves +€10,053
up €10,053 (+20.6%), from €48,821 to €58,873
- Current portion of long-term debt -€7,156
down €7,156 (-24.6%), from €29,146 to €21,989
- Other debts +€3,347
up €3,347 (+7,558%), from €44 to €3,391
- Staff costs -€53,475
down €53,475 (-31.0%), from €172,473 to €118,997
- Gross operating margin -€35,794
down €35,794 (-19.1%), from €187,145 to €151,351
- Financial income -€15,327
down €15,327 (-99.9%), from €15,345 to €18
of which Non-recurring financial income: -€15,273
- Other operating charges -€8,260
down €8,260 (-88.5%), from €9,330 to €1,070
- Financial charges -€5,819
down €5,819 (-67.0%), from €8,688 to €2,869
of which Non-recurring financial charges: -€2,929
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 | €167,969 | €126,358 | -€41,610 | -24.8% |
| Fixed assets | 21/28 | €109,648 | €79,347 | -€30,301 | -27.6% |
| Intangible fixed assets | 21 | €82,484 | €67,984 | -€14,500 | -17.6% |
| Tangible fixed assets | 22/27 | €27,164 | €11,364 | -€15,801 | -58.2% |
| Plant, machinery and equipment | 23 | €328 | - | -€328 | |
| Furniture and vehicles | 24 | €12,797 | €133 | -€12,664 | -99.0% |
| Other tangible fixed assets | 26 | €14,039 | €11,231 | -€2,808 | -20.0% |
| Current assets | 29/58 | €58,321 | €47,011 | -€11,310 | -19.4% |
| Stocks and contracts in progress | 3 | - | €250 | +€250 | |
| Stocks | 30/36 | - | €250 | +€250 | |
| Amounts receivable within one year | 40/41 | €42,766 | €30,652 | -€12,114 | -28.3% |
| Trade receivables | 40 | €33,556 | €22,036 | -€11,520 | -34.3% |
| Other amounts receivable | 41 | €9,209 | €8,616 | -€593 | -6.4% |
| Cash at bank and in hand | 54/58 | €12,323 | €10,284 | -€2,039 | -16.5% |
| Deferred charges and accrued income | 490/1 | €3,232 | €5,825 | +€2,593 | +80.2% |
| Total equity and liabilities | 10/49 | €167,969 | €126,358 | -€41,610 | -24.8% |
| Equity | 10/15 | €58,821 | €68,873 | +€10,053 | +17.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €48,821 | €58,873 | +€10,053 | +20.6% |
| Distributable reserves | 133 | €48,821 | €58,873 | +€10,053 | +20.6% |
| Amounts payable | 17/49 | €109,148 | €57,485 | -€51,663 | -47.3% |
| Amounts payable after more than one year | 17 | €41,150 | €18,528 | -€22,622 | -55.0% |
| Financial debts | 170/4 | €41,150 | €18,528 | -€22,622 | -55.0% |
| Amounts payable within one year | 42/48 | €67,998 | €38,937 | -€29,061 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | €29,146 | €21,989 | -€7,156 | -24.6% |
| Trade debts | 44 | €2,757 | €3,009 | +€252 | +9.1% |
| Suppliers | 440/4 | €2,757 | €3,009 | +€252 | +9.1% |
| Taxes, remuneration and social security | 45 | €36,051 | €10,548 | -€25,503 | -70.7% |
| Taxes | 450/3 | €6,198 | €2,115 | -€4,083 | -65.9% |
| Remuneration and social security | 454/9 | €29,852 | €8,433 | -€21,420 | -71.8% |
| Other amounts payable | 47/48 | €44 | €3,391 | +€3,347 | +7,558% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Non-recurring operating income | 76A | - | €245 | +€245 | |
| Remuneration, social security and pensions | 62 | €172,473 | €118,997 | -€53,475 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,617 | €18,231 | -€3,386 | -15.7% |
| Other operating charges | 640/8 | €9,330 | €1,070 | -€8,260 | -88.5% |
| Non-recurring operating charges | 66A | €37,687 | - | -€37,687 | |
| Gross operating margin | 9900 | €187,145 | €151,351 | -€35,794 | -19.1% |
| Operating profit (loss) | 9901 | -€53,962 | €13,052 | +€67,015 | |
| Financial income | 75/76B | €15,345 | €18 | -€15,327 | -99.9% |
| Recurring financial income | 75 | €72 | €18 | -€54 | -75.4% |
| Non-recurring financial income | 76B | €15,273 | - | -€15,273 | |
| Financial charges | 65/66B | €8,688 | €2,869 | -€5,819 | -67.0% |
| Recurring financial charges | 65 | €5,759 | €2,869 | -€2,890 | -50.2% |
| Non-recurring financial charges | 66B | €2,929 | - | -€2,929 | |
| Profit (loss) for the period before taxes | 9903 | -€47,306 | €10,201 | +€57,507 | |
| Income taxes | 67/77 | €128 | €148 | +€20 | +15.9% |
| Profit (loss) for the period | 9904 | -€47,434 | €10,053 | +€57,486 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,434 | €10,053 | +€57,486 |
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 18 October 2026 via checked.be.