S2 PRO: 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.
What changed
S2 PRO
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€164,608
2024 · €129,306+€35,302
Equity
€683,116
2024 · €518,508+€164,608
Cash
€164,374
2024 · €161,029+€3,345
Balance sheet total
€1.3m
2024 · €1.2m+€81,411
Largest movements
Assets
- Stocks and contracts +€108,919
up €108,919 (+12.2%), from €895,801 to €1.0m
- Receivables within one year -€29,852
down €29,852 (-26.5%), from €112,456 to €82,604
of which Other amounts receivable: -€28,223
Equity and liabilities
- Profit (loss) carried forward +€164,608
up €164,608 (+34.0%), from €484,048 to €648,656
- Debts after one year -€125,412
down €125,412 (-83.8%), from €149,718 to €24,306
of which Other amounts payable: -€123,663
- Trade debts +€45,711
up €45,711 (+17.7%), from €257,680 to €303,390
- Other debts -€15,000
down €15,000 (-37.5%), from €40,000 to €25,000
Income statement
- Gross operating margin +€63,198
up €63,198 (+20.3%), from €311,992 to €375,189
- Write-downs +€37,843
up €37,843, from -€2,054 to €35,789
- Staff costs -€19,982
down €19,982 (-14.5%), from €137,535 to €117,553
- Taxes +€10,924
up €10,924 (+24.5%), from €44,636 to €55,560
- Financial income +€4,465
up €4,465 (+11.7%), from €38,323 to €42,788
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.
Result 2024
€129,306
Gross operating margin
+€63,198
Staff costs
+€19,982
Depreciation
-€2,001
Write-downs
-€37,843
Other operating charges
+€1,123
Other operating items
-€553
Financial income
+€4,465
Financial charges
-€2,146
Taxes
-€10,924
Result 2025
€164,608
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.
From operations
+€135,025
Investment
-€7,744
Financing
-€123,936
Cash 2024
€161,029
From operations (derived)
+€135,025
Net result for the year
+€164,608
Depreciation
+€7,812
Stocks and contracts
-€108,919
Receivables within one year
+€29,852
Deferred charges and accrued income
+€932
Trade debts
+€45,711
Tax, wage and social debts
+€11,728
Advances received
-€427
Other debts
-€15,000
Accrued charges and deferred income
-€1,273
Investment (derived)
-€7,744
Investment in fixed assets (net)
-€7,744
Financing
-€123,936
Debts after one year
-€125,412
Current portion of long-term debt
-€8,623
Short-term financial debts
+€10,099
Cash 2025
€164,374
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,219,119 | €1,300,531 | +€81,411 | +6.7% |
| Fixed assets | 21/28 | €45,231 | €45,162 | -€69 | -0.2% |
| Intangible fixed assets | 21 | €10,495 | €10,729 | +€234 | +2.2% |
| Tangible fixed assets | 22/27 | €34,736 | €34,434 | -€302 | -0.9% |
| Plant, machinery and equipment | 23 | €11,236 | €8,889 | -€2,347 | -20.9% |
| Furniture and vehicles | 24 | €0 | €4,530 | +€4,530 | |
| Other tangible fixed assets | 26 | €23,500 | €21,014 | -€2,486 | -10.6% |
| Current assets | 29/58 | €1,173,888 | €1,255,368 | +€81,480 | +6.9% |
| Stocks and contracts in progress | 3 | €895,801 | €1,004,720 | +€108,919 | +12.2% |
| Stocks | 30/36 | €895,801 | €1,004,720 | +€108,919 | +12.2% |
| Amounts receivable within one year | 40/41 | €112,456 | €82,604 | -€29,852 | -26.5% |
| Trade receivables | 40 | €84,233 | €82,604 | -€1,629 | -1.9% |
| Other amounts receivable | 41 | €28,223 | €0 | -€28,223 | -100.0% |
| Cash at bank and in hand | 54/58 | €161,029 | €164,374 | +€3,345 | +2.1% |
| Deferred charges and accrued income | 490/1 | €4,602 | €3,670 | -€932 | -20.3% |
| Total equity and liabilities | 10/49 | €1,219,119 | €1,300,531 | +€81,411 | +6.7% |
| Equity | 10/15 | €518,508 | €683,116 | +€164,608 | +31.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,860 | €15,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €484,048 | €648,656 | +€164,608 | +34.0% |
| Amounts payable | 17/49 | €700,611 | €617,415 | -€83,197 | -11.9% |
| Amounts payable after more than one year | 17 | €149,718 | €24,306 | -€125,412 | -83.8% |
| Financial debts | 170/4 | €1,749 | €0 | -€1,749 | -100.0% |
| Other amounts payable | 178/9 | €147,969 | €24,306 | -€123,663 | -83.6% |
| Amounts payable within one year | 42/48 | €548,012 | €591,500 | +€43,488 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €10,372 | €1,749 | -€8,623 | -83.1% |
| Financial debts | 43 | €150,000 | €160,099 | +€10,099 | +6.7% |
| Credit institutions | 430/8 | €150,000 | €160,099 | +€10,099 | +6.7% |
| Trade debts | 44 | €257,680 | €303,390 | +€45,711 | +17.7% |
| Suppliers | 440/4 | €257,680 | €303,390 | +€45,711 | +17.7% |
| Advances received on contracts in progress | 46 | €17,388 | €16,962 | -€427 | -2.5% |
| Taxes, remuneration and social security | 45 | €72,572 | €84,300 | +€11,728 | +16.2% |
| Taxes | 450/3 | €57,236 | €64,983 | +€7,747 | +13.5% |
| Remuneration and social security | 454/9 | €15,336 | €19,317 | +€3,981 | +26.0% |
| Other amounts payable | 47/48 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Accrued charges and deferred income | 492/3 | €2,881 | €1,609 | -€1,273 | -44.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €137,535 | €117,553 | -€19,982 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,811 | €7,812 | +€2,001 | +34.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,054 | €35,789 | +€37,843 | |
| Other operating charges | 640/8 | €7,671 | €6,548 | -€1,123 | -14.6% |
| Non-recurring operating charges | 66A | - | €553 | +€553 | |
| Gross operating margin | 9900 | €311,992 | €375,189 | +€63,198 | +20.3% |
| Operating profit (loss) | 9901 | €163,028 | €206,934 | +€43,906 | +26.9% |
| Financial income | 75/76B | €38,323 | €42,788 | +€4,465 | +11.7% |
| Recurring financial income | 75 | €38,323 | €42,788 | +€4,465 | +11.7% |
| Financial charges | 65/66B | €27,408 | €29,554 | +€2,146 | +7.8% |
| Recurring financial charges | 65 | €27,408 | €29,554 | +€2,146 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €173,943 | €220,168 | +€46,225 | +26.6% |
| Income taxes | 67/77 | €44,636 | €55,560 | +€10,924 | +24.5% |
| Profit (loss) for the period | 9904 | €129,306 | €164,608 | +€35,302 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €129,306 | €164,608 | +€35,302 | +27.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.