SB MANAGEMENT: 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.
SB MANAGEMENT
Largest movements
- Cash +€148,199
up €148,199 (+33.3%), from €444,703 to €592,903
mainly Net result for the year (+€187,219) and Depreciation (+€23,718)
- Tangible fixed assets -€23,718
down €23,718 (-37.5%), from €63,264 to €39,546
of which Furniture and vehicles: -€17,485
- Current investments +€13,061
up €13,061 (+2.9%), from €452,219 to €465,280
- Reserves +€182,219
up €182,219 (+20.2%), from €903,173 to €1.1m
- Other debts -€31,862
down €31,862 (-70.8%), from €44,971 to €13,109
- Tax, wage and social debts -€14,157
down €14,157 (-28.6%), from €49,503 to €35,346
of which Taxes: -€16,134
- Gross operating margin +€14,838
up €14,838 (+4.5%), from €328,062 to €342,900
- Financial income +€6,623
up €6,623 (+48.7%), from €13,592 to €20,215
- Depreciation -€5,853
down €5,853 (-19.8%), from €29,571 to €23,718
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 | €1,036,353 | €1,168,271 | +€131,918 | +12.7% |
| Fixed assets | 21/28 | €63,264 | €39,546 | -€23,718 | -37.5% |
| Tangible fixed assets | 22/27 | €63,264 | €39,546 | -€23,718 | -37.5% |
| Furniture and vehicles | 24 | €55,451 | €37,966 | -€17,485 | -31.5% |
| Other tangible fixed assets | 26 | €7,812 | €1,580 | -€6,233 | -79.8% |
| Current assets | 29/58 | €973,089 | €1,128,725 | +€155,636 | +16.0% |
| Amounts receivable within one year | 40/41 | €72,520 | €67,629 | -€4,891 | -6.7% |
| Trade receivables | 40 | €65,623 | €58,935 | -€6,688 | -10.2% |
| Other amounts receivable | 41 | €6,897 | €8,694 | +€1,797 | +26.1% |
| Current investments | 50/53 | €452,219 | €465,280 | +€13,061 | +2.9% |
| Cash at bank and in hand | 54/58 | €444,703 | €592,903 | +€148,199 | +33.3% |
| Deferred charges and accrued income | 490/1 | €3,647 | €2,914 | -€733 | -20.1% |
| Total equity and liabilities | 10/49 | €1,036,353 | €1,168,271 | +€131,918 | +12.7% |
| Equity | 10/15 | €925,744 | €1,107,963 | +€182,219 | +19.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €903,173 | €1,085,392 | +€182,219 | +20.2% |
| Distributable reserves | 133 | €903,173 | €1,085,392 | +€182,219 | +20.2% |
| Profit (loss) carried forward | 14 | €10,171 | €10,171 | = | 0.0% |
| Amounts payable | 17/49 | €110,609 | €60,308 | -€50,301 | -45.5% |
| Amounts payable within one year | 42/48 | €99,489 | €48,909 | -€50,580 | -50.8% |
| Trade debts | 44 | €5,016 | €454 | -€4,561 | -90.9% |
| Suppliers | 440/4 | €5,016 | €454 | -€4,561 | -90.9% |
| Taxes, remuneration and social security | 45 | €49,503 | €35,346 | -€14,157 | -28.6% |
| Taxes | 450/3 | €36,079 | €19,945 | -€16,134 | -44.7% |
| Remuneration and social security | 454/9 | €13,424 | €15,401 | +€1,977 | +14.7% |
| Other amounts payable | 47/48 | €44,971 | €13,109 | -€31,862 | -70.8% |
| Accrued charges and deferred income | 492/3 | €11,120 | €11,399 | +€279 | +2.5% |
| Remuneration, social security and pensions | 62 | €72,001 | €74,702 | +€2,701 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,571 | €23,718 | -€5,853 | -19.8% |
| Other operating charges | 640/8 | €1,625 | €1,667 | +€42 | +2.6% |
| Gross operating margin | 9900 | €328,062 | €342,900 | +€14,838 | +4.5% |
| Operating profit (loss) | 9901 | €224,866 | €242,813 | +€17,947 | +8.0% |
| Financial income | 75/76B | €13,592 | €20,215 | +€6,623 | +48.7% |
| Recurring financial income | 75 | €13,592 | €20,215 | +€6,623 | +48.7% |
| Financial charges | 65/66B | €321 | €1,541 | +€1,220 | +381% |
| Recurring financial charges | 65 | €321 | €1,541 | +€1,220 | +381% |
| Profit (loss) for the period before taxes | 9903 | €238,137 | €261,487 | +€23,350 | +9.8% |
| Income taxes | 67/77 | €72,107 | €74,268 | +€2,161 | +3.0% |
| Profit (loss) for the period | 9904 | €166,030 | €187,219 | +€21,189 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €166,030 | €187,219 | +€21,189 | +12.8% |
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 28 October 2026 via checked.be.