SB-INVEST: what changed
What changed
SB-INVEST
NACE 77.110, Renting and leasing of cars and light motor vehicles
filed annual accounts (NBB)
Net result for the year
-€365,487
2024 · -€278,093-€87,394
Equity
-€770,611
2024 · -€405,124-€365,487
Cash
€36,546
2024 · €32,353+€4,193
Balance sheet total
€2.7m
2024 · €2.8m-€88,137
Largest movements
Assets
- Tangible fixed assets -€139,111
down €139,111 (-5.1%), from €2.7m to €2.6m
of which Land and buildings: -€138,107
- Current investments +€51,566
new in 2025: €51,566
Equity and liabilities
- Profit (loss) carried forward -€327,160
down €327,160 (-53.8%), from -€608,092 to -€935,252
- Debts after one year +€162,418
up €162,418 (+5.7%), from €2.9m to €3.0m
of which Other amounts payable: +€296,323
- Current portion of long-term debt +€124,574
up €124,574 (+83.4%), from €149,390 to €273,964
- Other debts +€41,181
up €41,181 (+32.3%), from €127,347 to €168,527
- Reserves -€38,327
down €38,327 (-24.4%), from €157,368 to €119,040
Income statement
- Taxes +€84,253
up €84,253 (+9,378%), from €898 to €85,152
- Other operating charges +€71,607
up €71,607 (+1,256%), from €5,702 to €77,308
- Depreciation -€59,259
down €59,259 (-29.9%), from €198,370 to €139,111
- Gross operating margin +€15,837
up €15,837, from -€6,016 to €9,821
- Financial charges +€5,195
up €5,195 (+6.3%), from €82,797 to €87,993
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
-€278,093
Gross operating margin
+€15,837
Depreciation
+€59,259
Other operating charges
-€71,607
Financial income
-€1,435
Financial charges
-€5,195
Taxes
-€84,253
Result 2025
-€365,487
raises the resultlowers the result
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
-€236,234
Investment
-€46,566
Financing
+€286,993
Cash 2024
€32,353
From operations (derived)
-€236,234
Net result for the year
-€365,487
Depreciation
+€139,111
Smaller working-capital items
-€473
Receivables within one year
-€2,910
Deferred charges and accrued income
+€2,935
Provisions
-€12,776
Other debts
+€41,181
Accrued charges and deferred income
-€37,814
Investment (derived)
-€46,566
Investment in fixed assets (net)
+€5,000
Current investments
-€51,566
Financing
+€286,993
Debts after one year
+€162,418
Current portion of long-term debt
+€124,574
Cash 2025
€36,546
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,828,357 | €2,740,220 | -€88,137 | -3.1% |
| Fixed assets | 21/28 | €2,735,615 | €2,591,505 | -€144,111 | -5.3% |
| Tangible fixed assets | 22/27 | €2,730,615 | €2,591,505 | -€139,111 | -5.1% |
| Land and buildings | 22 | €2,529,659 | €2,391,552 | -€138,107 | -5.5% |
| Furniture and vehicles | 24 | €1,328 | €325 | -€1,003 | -75.6% |
| Leasing and similar rights | 25 | €199,628 | €199,628 | = | 0.0% |
| Financial fixed assets | 28 | €5,000 | - | -€5,000 | |
| Current assets | 29/58 | €92,742 | €148,715 | +€55,974 | +60.4% |
| Amounts receivable after more than one year | 29 | €6,000 | €6,240 | +€240 | +4.0% |
| Other amounts receivable | 291 | €6,000 | €6,240 | +€240 | +4.0% |
| Amounts receivable within one year | 40/41 | €49,705 | €52,615 | +€2,910 | +5.9% |
| Trade receivables | 40 | €3,310 | €4,450 | +€1,140 | +34.4% |
| Other amounts receivable | 41 | €46,395 | €48,165 | +€1,770 | +3.8% |
| Current investments | 50/53 | - | €51,566 | +€51,566 | |
| Cash at bank and in hand | 54/58 | €32,353 | €36,546 | +€4,193 | +13.0% |
| Deferred charges and accrued income | 490/1 | €4,683 | €1,748 | -€2,935 | -62.7% |
| Total equity and liabilities | 10/49 | €2,828,357 | €2,740,220 | -€88,137 | -3.1% |
| Equity | 10/15 | -€405,124 | -€770,611 | -€365,487 | -90.2% |
| Contributions | 10/11 | €45,601 | €45,601 | = | 0.0% |
| Reserves | 13 | €157,368 | €119,040 | -€38,327 | -24.4% |
| Tax-exempt reserves | 132 | €157,368 | €119,040 | -€38,327 | -24.4% |
| Profit (loss) carried forward | 14 | -€608,092 | -€935,252 | -€327,160 | -53.8% |
| Provisions and deferred taxes | 16 | €38,327 | €25,551 | -€12,776 | -33.3% |
| Deferred taxes | 168 | €38,327 | €25,551 | -€12,776 | -33.3% |
| Amounts payable | 17/49 | €3,195,154 | €3,485,279 | +€290,126 | +9.1% |
| Amounts payable after more than one year | 17 | €2,873,274 | €3,035,693 | +€162,418 | +5.7% |
| Financial debts | 170/4 | €1,608,306 | €1,474,401 | -€133,905 | -8.3% |
| Other amounts payable | 178/9 | €1,264,969 | €1,561,292 | +€296,323 | +23.4% |
| Amounts payable within one year | 42/48 | €284,065 | €449,586 | +€165,522 | +58.3% |
| Current portion of amounts payable after more than one year | 42 | €149,390 | €273,964 | +€124,574 | +83.4% |
| Trade debts | 44 | €6,156 | €6,210 | +€54 | +0.9% |
| Suppliers | 440/4 | €6,156 | €6,210 | +€54 | +0.9% |
| Taxes, remuneration and social security | 45 | €1,171 | €884 | -€287 | -24.5% |
| Taxes | 450/3 | €1,171 | €884 | -€287 | -24.5% |
| Other amounts payable | 47/48 | €127,347 | €168,527 | +€41,181 | +32.3% |
| Accrued charges and deferred income | 492/3 | €37,814 | - | -€37,814 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,370 | €139,111 | -€59,259 | -29.9% |
| Other operating charges | 640/8 | €5,702 | €77,308 | +€71,607 | +1,256% |
| Gross operating margin | 9900 | -€6,016 | €9,821 | +€15,837 | |
| Operating profit (loss) | 9901 | -€210,088 | -€206,598 | +€3,489 | +1.7% |
| Financial income | 75/76B | €2,915 | €1,480 | -€1,435 | -49.2% |
| Recurring financial income | 75 | €2,915 | €1,480 | -€1,435 | -49.2% |
| Financial charges | 65/66B | €82,797 | €87,993 | +€5,195 | +6.3% |
| Recurring financial charges | 65 | €82,797 | €87,993 | +€5,195 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€289,970 | -€293,111 | -€3,141 | -1.1% |
| Transfer from deferred taxes | 780 | €12,776 | €12,776 | = | 0.0% |
| Income taxes | 67/77 | €898 | €85,152 | +€84,253 | +9,378% |
| Profit (loss) for the period | 9904 | -€278,093 | -€365,487 | -€87,394 | -31.4% |
| Transfer from tax-exempt reserves | 789 | €38,327 | €38,327 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€239,766 | -€327,160 | -€87,394 | -36.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.