SBELAW: what changed
Two fiscal 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.
SBELAW
Largest movements
- Current investments +€56,022
new in 2025: €56,022
- Cash +€43,698
up €43,698 (+41.2%), from €105,988 to €149,686
mainly Net result for the year (+€97,855) and Tax, wage and social debts (+€4,805)
- Receivables within one year +€4,198
up €4,198 (+331.3%), from €1,267 to €5,465
- Profit (loss) carried forward +€97,855
up €97,855 (+129.6%), from €75,522 to €173,377
- Tax, wage and social debts +€4,805
up €4,805 (+17.5%), from €27,485 to €32,290
- Gross operating margin +€34,526
up €34,526 (+35.8%), from €96,370 to €130,896
- Taxes +€13,290
up €13,290 (+67.9%), from €19,565 to €32,855
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.
Cash bridge derived
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 | €107,775 | €211,459 | +€103,684 | +96.2% |
| Fixed assets | 21/28 | €520 | €286 | -€234 | -45.0% |
| Tangible fixed assets | 22/27 | €520 | €286 | -€234 | -45.0% |
| Furniture and vehicles | 24 | €520 | €286 | -€234 | -45.0% |
| Current assets | 29/58 | €107,255 | €211,173 | +€103,918 | +96.9% |
| Amounts receivable within one year | 40/41 | €1,267 | €5,465 | +€4,198 | +331.3% |
| Trade receivables | 40 | €1,267 | €5,465 | +€4,198 | +331.3% |
| Current investments | 50/53 | - | €56,022 | +€56,022 | |
| Cash at bank and in hand | 54/58 | €105,988 | €149,686 | +€43,698 | +41.2% |
| Total equity and liabilities | 10/49 | €107,775 | €211,459 | +€103,684 | +96.2% |
| Equity | 10/15 | €78,522 | €176,377 | +€97,855 | +124.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,522 | €173,377 | +€97,855 | +129.6% |
| Amounts payable | 17/49 | €29,253 | €35,082 | +€5,829 | +19.9% |
| Amounts payable within one year | 42/48 | €29,253 | €35,082 | +€5,829 | +19.9% |
| Trade debts | 44 | €868 | €538 | -€330 | -38.0% |
| Suppliers | 440/4 | €868 | €538 | -€330 | -38.0% |
| Taxes, remuneration and social security | 45 | €27,485 | €32,290 | +€4,805 | +17.5% |
| Taxes | 450/3 | €27,485 | €32,290 | +€4,805 | +17.5% |
| Other amounts payable | 47/48 | €900 | €2,254 | +€1,354 | +150.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,283 | €234 | -€1,049 | -81.8% |
| Gross operating margin | 9900 | €96,370 | €130,896 | +€34,526 | +35.8% |
| Operating profit (loss) | 9901 | €95,087 | €130,662 | +€35,575 | +37.4% |
| Financial income | 75/76B | - | €234 | +€234 | |
| Recurring financial income | 75 | - | €234 | +€234 | |
| Financial charges | 65/66B | - | €186 | +€186 | |
| Recurring financial charges | 65 | - | €186 | +€186 | |
| Profit (loss) for the period before taxes | 9903 | €95,087 | €130,710 | +€35,623 | +37.5% |
| Income taxes | 67/77 | €19,565 | €32,855 | +€13,290 | +67.9% |
| Profit (loss) for the period | 9904 | €75,522 | €97,855 | +€22,333 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,522 | €97,855 | +€22,333 | +29.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.