SB Belgique: what changed
What changed
SB Belgique
filed annual accounts (NBB)
Net result for the year
-€539,048
2024 · -€32,955-€506,092
Equity
-€404,990
2024 · €134,058-€539,048
Cash
€38
2024 · €38+€0
Balance sheet total
€502,605
2024 · €1.0m-€502,972
Largest movements
Assets
- Financial fixed assets -€500,000
down €500,000 (-54.3%), from €920,000 to €420,000
Equity and liabilities
- Profit (loss) carried forward -€539,048
down €539,048 (-817%), from -€65,942 to -€604,990
- Other debts +€186,802
up €186,802 (+47.7%), from €391,865 to €578,667
- Debts after one year -€91,558
down €91,558 (-32.9%), from €278,704 to €187,146
- Current portion of long-term debt -€60,335
down €60,335 (-37.8%), from €159,463 to €99,128
Income statement
- Financial charges +€510,833
up €510,833 (+2,293%), from €22,278 to €533,110
of which Non-recurring financial charges: +€500,000
- Gross operating margin +€1,224
up €1,224 (+35.4%), from -€3,459 to -€2,235
- Other operating charges +€1,065
up €1,065 (+177%), from €602 to €1,668
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.
Result 2024
-€32,955
Gross operating margin
+€1,224
Other operating charges
-€1,065
Other operating items
+€4,582
Financial income
-€0
Financial charges
-€510,833
Taxes
+€0
Result 2025
-€539,048
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€350,311
Investment
+€500,000
Financing
-€149,689
Cash 2024
€38
From operations (derived)
-€350,311
Net result for the year
-€539,048
Receivables within one year
+€2,972
Trade debts
-€2,732
Other debts
+€186,802
Accrued charges and deferred income
+€1,694
Investment (derived)
+€500,000
Investment in fixed assets (net)
+€500,000
Financing
-€149,689
Debts after one year
-€91,558
Current portion of long-term debt
-€60,335
Short-term financial debts
+€2,204
Cash 2025
€38
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,005,576 | €502,605 | -€502,972 | -50.0% |
| Fixed assets | 21/28 | €920,000 | €420,000 | -€500,000 | -54.3% |
| Financial fixed assets | 28 | €920,000 | €420,000 | -€500,000 | -54.3% |
| Current assets | 29/58 | €85,576 | €82,605 | -€2,972 | -3.5% |
| Amounts receivable within one year | 40/41 | €85,538 | €82,566 | -€2,972 | -3.5% |
| Other amounts receivable | 41 | €85,538 | €82,566 | -€2,972 | -3.5% |
| Cash at bank and in hand | 54/58 | €38 | €38 | +€0 | +0.6% |
| Total equity and liabilities | 10/49 | €1,005,576 | €502,605 | -€502,972 | -50.0% |
| Equity | 10/15 | €134,058 | -€404,990 | -€539,048 | |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,942 | -€604,990 | -€539,048 | -817% |
| Amounts payable | 17/49 | €871,518 | €907,594 | +€36,076 | +4.1% |
| Amounts payable after more than one year | 17 | €278,704 | €187,146 | -€91,558 | -32.9% |
| Financial debts | 170/4 | €278,704 | €187,146 | -€91,558 | -32.9% |
| Amounts payable within one year | 42/48 | €591,535 | €717,475 | +€125,940 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €159,463 | €99,128 | -€60,335 | -37.8% |
| Financial debts | 43 | €37,475 | €39,679 | +€2,204 | +5.9% |
| Credit institutions | 430/8 | €37,475 | €39,679 | +€2,204 | +5.9% |
| Trade debts | 44 | €2,732 | €0 | -€2,732 | -100% |
| Suppliers | 440/4 | €2,732 | €0 | -€2,732 | -100% |
| Other amounts payable | 47/48 | €391,865 | €578,667 | +€186,802 | +47.7% |
| Accrued charges and deferred income | 492/3 | €1,280 | €2,974 | +€1,694 | +132% |
| Other operating charges | 640/8 | €602 | €1,668 | +€1,065 | +177% |
| Non-recurring operating charges | 66A | €6,616 | €2,035 | -€4,582 | -69.3% |
| Gross operating margin | 9900 | -€3,459 | -€2,235 | +€1,224 | +35.4% |
| Operating profit (loss) | 9901 | -€10,678 | -€5,937 | +€4,741 | +44.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -21.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -21.4% |
| Financial charges | 65/66B | €22,278 | €533,110 | +€510,833 | +2,293% |
| Recurring financial charges | 65 | €22,278 | €33,110 | +€10,833 | +48.6% |
| Non-recurring financial charges | 66B | - | €500,000 | +€500,000 | |
| Profit (loss) for the period before taxes | 9903 | -€32,955 | -€539,047 | -€506,092 | -1,536% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -23.1% |
| Profit (loss) for the period | 9904 | -€32,955 | -€539,048 | -€506,092 | -1,536% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,955 | -€539,048 | -€506,092 | -1,536% |
Next steps
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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 3 November 2026 via checked.be.