S2B Invest: what changed
S2B Invest
Largest movements
- Stocks and contracts -€355,976
down €355,976 (-25.1%), from €1.4m to €1.1m
- Tangible fixed assets +€350,051
up €350,051 (+51.2%), from €684,252 to €1.0m
- Receivables within one year -€68,491
down €68,491 (-86.7%), from €79,000 to €10,509
of which Other amounts receivable: -€79,000
- Trade debts +€162,871
up €162,871 (+86.5%), from €188,187 to €351,057
- Other debts -€108,715
down €108,715 (-28.2%), from €385,275 to €276,560
- Profit (loss) carried forward -€72,517
down €72,517 (-81.9%), from -€88,571 to -€161,088
- Debts after one year -€64,031
down €64,031 (-4.3%), from €1.5m to €1.4m
- Gross operating margin -€28,151
down €28,151 (-94.0%), from €29,949 to €1,798
- Depreciation +€17,741
up €17,741 (+826%), from €2,148 to €19,889
- Financial charges +€6,385
up €6,385 (+13.5%), from €47,391 to €53,776
- Other operating charges -€1,317
down €1,317 (-67.0%), from €1,966 to €649
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,183,369 | €2,107,651 | -€75,718 | -3.5% |
| Fixed assets | 21/28 | €684,252 | €1,034,302 | +€350,051 | +51.2% |
| Tangible fixed assets | 22/27 | €684,252 | €1,034,302 | +€350,051 | +51.2% |
| Land and buildings | 22 | €684,252 | €1,034,302 | +€350,051 | +51.2% |
| Current assets | 29/58 | €1,499,117 | €1,073,349 | -€425,768 | -28.4% |
| Stocks and contracts in progress | 3 | €1,417,116 | €1,061,140 | -€355,976 | -25.1% |
| Stocks | 30/36 | €1,417,116 | €1,061,140 | -€355,976 | -25.1% |
| Amounts receivable within one year | 40/41 | €79,000 | €10,509 | -€68,491 | -86.7% |
| Trade receivables | 40 | - | €10,509 | +€10,509 | |
| Other amounts receivable | 41 | €79,000 | - | -€79,000 | |
| Cash at bank and in hand | 54/58 | €961 | €507 | -€454 | -47.2% |
| Deferred charges and accrued income | 490/1 | €2,040 | €1,193 | -€847 | -41.5% |
| Total equity and liabilities | 10/49 | €2,183,369 | €2,107,651 | -€75,718 | -3.5% |
| Equity | 10/15 | €96,429 | €23,912 | -€72,517 | -75.2% |
| Contributions | 10/11 | €185,000 | €185,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,571 | -€161,088 | -€72,517 | -81.9% |
| Amounts payable | 17/49 | €2,086,940 | €2,083,739 | -€3,201 | -0.2% |
| Amounts payable after more than one year | 17 | €1,481,522 | €1,417,491 | -€64,031 | -4.3% |
| Financial debts | 170/4 | €1,481,522 | €1,417,491 | -€64,031 | -4.3% |
| Amounts payable within one year | 42/48 | €597,980 | €661,834 | +€63,854 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €24,518 | €34,217 | +€9,699 | +39.6% |
| Trade debts | 44 | €188,187 | €351,057 | +€162,871 | +86.5% |
| Suppliers | 440/4 | €188,187 | €351,057 | +€162,871 | +86.5% |
| Other amounts payable | 47/48 | €385,275 | €276,560 | -€108,715 | -28.2% |
| Accrued charges and deferred income | 492/3 | €7,438 | €4,414 | -€3,025 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,148 | €19,889 | +€17,741 | +826% |
| Other operating charges | 640/8 | €1,966 | €649 | -€1,317 | -67.0% |
| Gross operating margin | 9900 | €29,949 | €1,798 | -€28,151 | -94.0% |
| Operating profit (loss) | 9901 | €25,835 | -€18,741 | -€44,575 | |
| Financial charges | 65/66B | €47,391 | €53,776 | +€6,385 | +13.5% |
| Recurring financial charges | 65 | €47,391 | €53,776 | +€6,385 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,556 | -€72,517 | -€50,961 | -236% |
| Profit (loss) for the period | 9904 | -€21,556 | -€72,517 | -€50,961 | -236% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,556 | -€72,517 | -€50,961 | -236% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.