S2K: 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.
S2K
Largest movements
- Receivables within one year +€4,986
new in 2025: €4,986
of which Trade receivables: +€3,766
- Tangible fixed assets -€4,246
down €4,246 (-12.0%), from €35,275 to €31,029
- Cash -€2,464
down €2,464 (-13.2%), from €18,622 to €16,158
mainly Debts after one year (-€20,261) and Receivables within one year (-€4,986)
- Receivables after one year -€974
no longer reported in 2025 (was €974)
- Debts after one year -€20,261
down €20,261 (-54.1%), from €37,452 to €17,191
of which Other amounts payable: -€13,472
- Reserves +€9,143
up €9,143 (+1693.4%), from €540 to €9,683
of which Distributable reserves: +€9,683
- Profit (loss) carried forward +€4,354
up €4,354, from -€4,354 to €0
- Current portion of long-term debt +€3,471
new in 2025: €3,471
- Tax, wage and social debts +€998
up €998 (+43.3%), from €2,306 to €3,304
- Gross operating margin +€8,641
up €8,641 (+50.8%), from €17,017 to €25,658
- Taxes +€3,311
up €3,311 (+76.9%), from €4,308 to €7,619
- Depreciation -€297
down €297 (-6.5%), from €4,543 to €4,246
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 | €55,587 | €53,105 | -€2,482 | -4.5% |
| Fixed assets | 21/28 | €35,275 | €31,029 | -€4,246 | -12.0% |
| Tangible fixed assets | 22/27 | €35,275 | €31,029 | -€4,246 | -12.0% |
| Furniture and vehicles | 24 | €35,275 | €31,029 | -€4,246 | -12.0% |
| Current assets | 29/58 | €20,312 | €22,076 | +€1,764 | +8.7% |
| Amounts receivable after more than one year | 29 | €974 | - | -€974 | |
| Other amounts receivable | 291 | €974 | - | -€974 | |
| Amounts receivable within one year | 40/41 | - | €4,986 | +€4,986 | |
| Trade receivables | 40 | - | €3,766 | +€3,766 | |
| Other amounts receivable | 41 | - | €1,219 | +€1,219 | |
| Cash at bank and in hand | 54/58 | €18,622 | €16,158 | -€2,464 | -13.2% |
| Deferred charges and accrued income | 490/1 | €716 | €933 | +€216 | +30.2% |
| Total equity and liabilities | 10/49 | €55,587 | €53,105 | -€2,482 | -4.5% |
| Equity | 10/15 | €14,786 | €28,283 | +€13,497 | +91.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €540 | €9,683 | +€9,143 | +1693.4% |
| Non-distributable reserves | 130/1 | €540 | €0 | -€540 | -100.0% |
| Reserves not available under the articles | 1311 | €540 | €0 | -€540 | -100.0% |
| Distributable reserves | 133 | - | €9,683 | +€9,683 | |
| Profit (loss) carried forward | 14 | -€4,354 | €0 | +€4,354 | |
| Amounts payable | 17/49 | €40,801 | €24,822 | -€15,979 | -39.2% |
| Amounts payable after more than one year | 17 | €37,452 | €17,191 | -€20,261 | -54.1% |
| Financial debts | 170/4 | €7,086 | €296 | -€6,789 | -95.8% |
| Other amounts payable | 178/9 | €30,366 | €16,894 | -€13,472 | -44.4% |
| Amounts payable within one year | 42/48 | €3,348 | €7,198 | +€3,849 | +115.0% |
| Current portion of amounts payable after more than one year | 42 | - | €3,471 | +€3,471 | |
| Trade debts | 44 | €928 | €423 | -€506 | -54.5% |
| Suppliers | 440/4 | €928 | €423 | -€506 | -54.5% |
| Taxes, remuneration and social security | 45 | €2,306 | €3,304 | +€998 | +43.3% |
| Taxes | 450/3 | €2,306 | €3,304 | +€998 | +43.3% |
| Other amounts payable | 47/48 | €114 | - | -€114 | |
| Accrued charges and deferred income | 492/3 | - | €434 | +€434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,543 | €4,246 | -€297 | -6.5% |
| Other operating charges | 640/8 | €438 | €400 | -€38 | -8.8% |
| Gross operating margin | 9900 | €17,017 | €25,658 | +€8,641 | +50.8% |
| Operating profit (loss) | 9901 | €12,035 | €21,012 | +€8,976 | +74.6% |
| Financial income | 75/76B | - | €119 | +€119 | |
| Recurring financial income | 75 | - | €119 | +€119 | |
| Financial charges | 65/66B | €681 | €608 | -€72 | -10.6% |
| Recurring financial charges | 65 | €681 | €608 | -€72 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €11,355 | €20,522 | +€9,167 | +80.7% |
| Income taxes | 67/77 | €4,308 | €7,619 | +€3,311 | +76.9% |
| Profit (loss) for the period | 9904 | €7,047 | €12,903 | +€5,856 | +83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,047 | €12,903 | +€5,856 | +83.1% |
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 3 October 2026 via checked.be.