SBaye Consulting: 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.
SBaye Consulting
Largest movements
- Financial fixed assets +€61,220
up €61,220 (+77.6%), from €78,924 to €140,144
- Current investments -€12,500
no longer reported in 2025 (was €12,500)
- Cash -€5,599
down €5,599 (-4.8%), from €117,358 to €111,758
mainly Investment in fixed assets (net) (-€61,220) and Trade debts (-€12,508)
- Tangible fixed assets -€5,173
down €5,173 (-42.1%), from €12,295 to €7,122
of which Furniture and vehicles: -€5,173
- Reserves +€55,773
up €55,773 (+28.9%), from €192,754 to €248,526
of which Distributable reserves: +€55,773
- Trade debts -€12,508
down €12,508 (-95.9%), from €13,037 to €530
- Other debts -€11,958
down €11,958 (-100%), from €11,958 to €0
- Tax, wage and social debts +€7,462
up €7,462 (+14.8%), from €50,543 to €58,005
of which Taxes: +€7,462
- Gross operating margin -€67,094
down €67,094 (-48.1%), from €139,346 to €72,252
- Financial income +€24,622
up €24,622 (+3,458%), from €712 to €25,334
- Taxes -€17,892
down €17,892 (-38.5%), from €46,508 to €28,616
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 | €275,282 | €314,051 | +€38,769 | +14.1% |
| Fixed assets | 21/28 | €91,218 | €147,265 | +€56,047 | +61.4% |
| Tangible fixed assets | 22/27 | €12,295 | €7,122 | -€5,173 | -42.1% |
| Furniture and vehicles | 24 | €10,028 | €4,855 | -€5,173 | -51.6% |
| Other tangible fixed assets | 26 | €2,267 | €2,267 | = | 0.0% |
| Financial fixed assets | 28 | €78,924 | €140,144 | +€61,220 | +77.6% |
| Current assets | 29/58 | €184,064 | €166,786 | -€17,278 | -9.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,701 | €31,279 | +€578 | +1.9% |
| Trade receivables | 40 | €30,376 | €30,044 | -€332 | -1.1% |
| Other amounts receivable | 41 | €325 | €1,235 | +€909 | +280% |
| Current investments | 50/53 | €12,500 | - | -€12,500 | |
| Cash at bank and in hand | 54/58 | €117,358 | €111,758 | -€5,599 | -4.8% |
| Deferred charges and accrued income | 490/1 | €3,505 | €3,748 | +€243 | +6.9% |
| Total equity and liabilities | 10/49 | €275,282 | €314,051 | +€38,769 | +14.1% |
| Equity | 10/15 | €199,744 | €255,516 | +€55,773 | +27.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €192,754 | €248,526 | +€55,773 | +28.9% |
| Tax-exempt reserves | 132 | €9,589 | €9,589 | = | 0.0% |
| Distributable reserves | 133 | €183,165 | €238,937 | +€55,773 | +30.4% |
| Profit (loss) carried forward | 14 | €790 | €790 | = | 0.0% |
| Amounts payable | 17/49 | €75,538 | €58,534 | -€17,004 | -22.5% |
| Amounts payable within one year | 42/48 | €75,538 | €58,534 | -€17,004 | -22.5% |
| Trade debts | 44 | €13,037 | €530 | -€12,508 | -95.9% |
| Suppliers | 440/4 | €13,037 | €530 | -€12,508 | -95.9% |
| Taxes, remuneration and social security | 45 | €50,543 | €58,005 | +€7,462 | +14.8% |
| Taxes | 450/3 | €50,543 | €58,005 | +€7,462 | +14.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,958 | €0 | -€11,958 | -100% |
| Remuneration, social security and pensions | 62 | €83 | -€444 | -€527 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,273 | €5,173 | -€100 | -1.9% |
| Other operating charges | 640/8 | €283 | €660 | +€377 | +133% |
| Non-recurring operating charges | 66A | - | €7,073 | +€7,073 | |
| Gross operating margin | 9900 | €139,346 | €72,252 | -€67,094 | -48.1% |
| Operating profit (loss) | 9901 | €133,707 | €59,789 | -€73,917 | -55.3% |
| Financial income | 75/76B | €712 | €25,334 | +€24,622 | +3,458% |
| Recurring financial income | 75 | €712 | €25,334 | +€24,622 | +3,458% |
| Financial charges | 65/66B | €206 | €735 | +€529 | +257% |
| Recurring financial charges | 65 | €206 | €735 | +€529 | +257% |
| Profit (loss) for the period before taxes | 9903 | €134,213 | €84,388 | -€49,824 | -37.1% |
| Income taxes | 67/77 | €46,508 | €28,616 | -€17,892 | -38.5% |
| Profit (loss) for the period | 9904 | €87,705 | €55,773 | -€31,932 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,705 | €55,773 | -€31,932 | -36.4% |
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 21 October 2026 via checked.be.