S2P INVEST: what changed
S2P INVEST
Largest movements
- Financial fixed assets -€233,081
down €233,081 (-13.6%), from €1.7m to €1.5m
- Receivables within one year -€161,579
down €161,579 (-92.8%), from €174,027 to €12,448
of which Trade receivables: -€170,232
- Cash +€32,181
up €32,181 (+468%), from €6,872 to €39,053
mainly Investment in fixed assets (net) (+€233,081) and Debts after one year (+€228,127)
- Other debts -€762,296
down €762,296 (-61.7%), from €1.2m to €473,207
- Debts after one year +€228,127
up €228,127 (+62.5%), from €365,216 to €593,343
- Reserves +€94,744
up €94,744 (+65.9%), from €143,697 to €238,442
- Current portion of long-term debt +€71,804
up €71,804 (+72.3%), from €99,321 to €171,125
- Financial charges +€761,027
up €761,027 (+12,618%), from €6,031 to €767,058
of which Non-recurring financial charges: +€750,000
- Financial income +€750,000
new in 2025: €750,000
- Gross operating margin -€37,609
down €37,609 (-20.6%), from €182,874 to €145,266
- Taxes -€7,498
down €7,498 (-19.0%), from €39,374 to €31,876
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 | €1,913,992 | €1,544,704 | -€369,288 | -19.3% |
| Fixed assets | 21/28 | €1,719,609 | €1,486,528 | -€233,081 | -13.6% |
| Financial fixed assets | 28 | €1,719,609 | €1,486,528 | -€233,081 | -13.6% |
| Current assets | 29/58 | €194,383 | €58,176 | -€136,207 | -70.1% |
| Amounts receivable within one year | 40/41 | €174,027 | €12,448 | -€161,579 | -92.8% |
| Trade receivables | 40 | €174,027 | €3,796 | -€170,232 | -97.8% |
| Other amounts receivable | 41 | - | €8,653 | +€8,653 | |
| Cash at bank and in hand | 54/58 | €6,872 | €39,053 | +€32,181 | +468% |
| Deferred charges and accrued income | 490/1 | €13,484 | €6,675 | -€6,809 | -50.5% |
| Total equity and liabilities | 10/49 | €1,913,992 | €1,544,704 | -€369,288 | -19.3% |
| Equity | 10/15 | €168,697 | €263,442 | +€94,744 | +56.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €143,697 | €238,442 | +€94,744 | +65.9% |
| Distributable reserves | 133 | €143,697 | €238,442 | +€94,744 | +65.9% |
| Amounts payable | 17/49 | €1,745,294 | €1,281,262 | -€464,032 | -26.6% |
| Amounts payable after more than one year | 17 | €365,216 | €593,343 | +€228,127 | +62.5% |
| Financial debts | 170/4 | €365,216 | €593,343 | +€228,127 | +62.5% |
| Amounts payable within one year | 42/48 | €1,380,078 | €687,919 | -€692,159 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €99,321 | €171,125 | +€71,804 | +72.3% |
| Trade debts | 44 | €2,486 | €3,137 | +€651 | +26.2% |
| Suppliers | 440/4 | €2,486 | €3,137 | +€651 | +26.2% |
| Taxes, remuneration and social security | 45 | €42,768 | €40,450 | -€2,319 | -5.4% |
| Taxes | 450/3 | €42,768 | €40,450 | -€2,319 | -5.4% |
| Other amounts payable | 47/48 | €1,235,503 | €473,207 | -€762,296 | -61.7% |
| Other operating charges | 640/8 | €1,171 | €1,588 | +€417 | +35.6% |
| Gross operating margin | 9900 | €182,874 | €145,266 | -€37,609 | -20.6% |
| Operating profit (loss) | 9901 | €181,704 | €143,678 | -€38,026 | -20.9% |
| Financial income | 75/76B | - | €750,000 | +€750,000 | |
| Recurring financial income | 75 | - | €750,000 | +€750,000 | |
| Financial charges | 65/66B | €6,031 | €767,058 | +€761,027 | +12,618% |
| Recurring financial charges | 65 | €6,031 | €17,058 | +€11,027 | +183% |
| Non-recurring financial charges | 66B | - | €750,000 | +€750,000 | |
| Profit (loss) for the period before taxes | 9903 | €175,672 | €126,620 | -€49,052 | -27.9% |
| Income taxes | 67/77 | €39,374 | €31,876 | -€7,498 | -19.0% |
| Profit (loss) for the period | 9904 | €136,298 | €94,744 | -€41,554 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €136,298 | €94,744 | -€41,554 | -30.5% |
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.