S2P Build: 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.
S2P Build
Largest movements
- Receivables within one year -€931,385
down €931,385 (-85.5%), from €1.1m to €157,747
of which Other amounts receivable: -€870,453
- Cash +€32,886
up €32,886 (+185%), from €17,820 to €50,706
mainly Receivables within one year (+€931,385) and Net result for the year (+€139,897)
- Other debts -€748,000
down €748,000 (-84.2%), from €887,835 to €139,835
- Trade debts -€142,948
down €142,948 (-99.9%), from €143,114 to €167
- Gross operating margin +€4,068
up €4,068 (+2.9%), from €141,322 to €145,390
- Other operating charges +€1,991
up €1,991 (+148%), from €1,342 to €3,333
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 | €1,318,286 | €418,514 | -€899,771 | -68.3% |
| Fixed assets | 21/28 | €210,182 | €208,503 | -€1,679 | -0.8% |
| Tangible fixed assets | 22/27 | €210,182 | €208,503 | -€1,679 | -0.8% |
| Other tangible fixed assets | 26 | €210,182 | €208,503 | -€1,679 | -0.8% |
| Current assets | 29/58 | €1,108,104 | €210,012 | -€898,092 | -81.0% |
| Amounts receivable within one year | 40/41 | €1,089,132 | €157,747 | -€931,385 | -85.5% |
| Trade receivables | 40 | €60,933 | €0 | -€60,933 | -100% |
| Other amounts receivable | 41 | €1,028,199 | €157,747 | -€870,453 | -84.7% |
| Cash at bank and in hand | 54/58 | €17,820 | €50,706 | +€32,886 | +185% |
| Deferred charges and accrued income | 490/1 | €1,152 | €1,560 | +€408 | +35.4% |
| Total equity and liabilities | 10/49 | €1,318,286 | €418,514 | -€899,771 | -68.3% |
| Equity | 10/15 | €183,717 | €184,614 | +€897 | +0.5% |
| Contributions | 10/11 | €109,100 | €109,100 | = | 0.0% |
| Capital | 10 | €109,100 | €109,100 | = | 0.0% |
| Issued capital | 100 | €109,100 | €109,100 | = | 0.0% |
| Reserves | 13 | €74,617 | €75,514 | +€897 | +1.2% |
| Non-distributable reserves | 130/1 | €10,932 | €10,932 | = | 0.0% |
| Legal reserve | 130 | €10,932 | €10,932 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,601 | €53,601 | = | 0.0% |
| Distributable reserves | 133 | €10,084 | €10,981 | +€897 | +8.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,134,568 | €233,901 | -€900,668 | -79.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,038,568 | €140,902 | -€897,666 | -86.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €143,114 | €167 | -€142,948 | -99.9% |
| Suppliers | 440/4 | €143,114 | €167 | -€142,948 | -99.9% |
| Taxes, remuneration and social security | 45 | €7,619 | €900 | -€6,719 | -88.2% |
| Taxes | 450/3 | €7,619 | €900 | -€6,719 | -88.2% |
| Other amounts payable | 47/48 | €887,835 | €139,835 | -€748,000 | -84.2% |
| Accrued charges and deferred income | 492/3 | €96,000 | €92,998 | -€3,002 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €722 | €722 | = | 0.0% |
| Other operating charges | 640/8 | €1,342 | €3,333 | +€1,991 | +148% |
| Non-recurring operating charges | 66A | - | €956 | +€956 | |
| Gross operating margin | 9900 | €141,322 | €145,390 | +€4,068 | +2.9% |
| Operating profit (loss) | 9901 | €139,258 | €140,379 | +€1,121 | +0.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €152 | €156 | +€4 | +2.7% |
| Recurring financial charges | 65 | €152 | €156 | +€4 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €139,106 | €140,223 | +€1,117 | +0.8% |
| Income taxes | 67/77 | €574 | €326 | -€248 | -43.1% |
| Profit (loss) for the period | 9904 | €138,532 | €139,897 | +€1,364 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €138,532 | €139,897 | +€1,364 | +1.0% |
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 14 October 2026 via checked.be.