SBLM: 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.
SBLM
Largest movements
- Financial fixed assets -€1.8m
down €1.8m (-69.6%), from €2.6m to €783,909
- Receivables within one year +€44,312
up €44,312 (+8.8%), from €506,292 to €550,604
of which Other amounts receivable: +€44,280
- Profit (loss) carried forward -€1.7m
down €1.7m, from €872,331 to -€859,232
- Debts after one year -€41,172
down €41,172 (-73.5%), from €55,995 to €14,823
- Other operating charges +€1.8m
up €1.8m (+51927.6%), from €3,413 to €1.8m
- Gross operating margin +€19,132
up €19,132 (+28.9%), from €66,225 to €85,356
- Taxes +€2,894
up €2,894 (+28.1%), from €10,287 to €13,181
- Financial charges -€2,001
down €2,001 (-29.0%), from €6,901 to €4,900
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 | €3,658,039 | €1,888,870 | -€1.8m | -48.4% |
| Fixed assets | 21/28 | €2,971,108 | €1,159,741 | -€1.8m | -61.0% |
| Tangible fixed assets | 22/27 | €392,108 | €375,832 | -€16,276 | -4.2% |
| Land and buildings | 22 | €335,255 | €327,975 | -€7,281 | -2.2% |
| Plant, machinery and equipment | 23 | €48,739 | €45,147 | -€3,593 | -7.4% |
| Furniture and vehicles | 24 | €8,113 | €2,711 | -€5,402 | -66.6% |
| Financial fixed assets | 28 | €2,579,000 | €783,909 | -€1.8m | -69.6% |
| Current assets | 29/58 | €686,931 | €729,129 | +€42,198 | +6.1% |
| Amounts receivable after more than one year | 29 | €166,000 | €166,000 | = | 0.0% |
| Other amounts receivable | 291 | €166,000 | €166,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €506,292 | €550,604 | +€44,312 | +8.8% |
| Trade receivables | 40 | €7,350 | €7,381 | +€31 | +0.4% |
| Other amounts receivable | 41 | €498,942 | €543,223 | +€44,280 | +8.9% |
| Current investments | 50/53 | €1,632 | - | -€1,632 | |
| Cash at bank and in hand | 54/58 | €1,506 | €2,701 | +€1,196 | +79.4% |
| Deferred charges and accrued income | 490/1 | €11,501 | €9,824 | -€1,677 | -14.6% |
| Total equity and liabilities | 10/49 | €3,658,039 | €1,888,870 | -€1.8m | -48.4% |
| Equity | 10/15 | €3,541,650 | €1,810,087 | -€1.7m | -48.9% |
| Contributions | 10/11 | €2,565,000 | €2,565,000 | = | 0.0% |
| Reserves | 13 | €104,319 | €104,319 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | - | -€50,000 | |
| Reserves not available under the articles | 1311 | €50,000 | - | -€50,000 | |
| Tax-exempt reserves | 132 | €54,319 | €54,319 | = | 0.0% |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €872,331 | -€859,232 | -€1.7m | |
| Amounts payable | 17/49 | €116,389 | €78,782 | -€37,607 | -32.3% |
| Amounts payable after more than one year | 17 | €55,995 | €14,823 | -€41,172 | -73.5% |
| Financial debts | 170/4 | €55,995 | €14,823 | -€41,172 | -73.5% |
| Amounts payable within one year | 42/48 | €57,865 | €61,302 | +€3,437 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €39,184 | €43,709 | +€4,525 | +11.5% |
| Trade debts | 44 | €4,525 | €4,125 | -€400 | -8.8% |
| Suppliers | 440/4 | €4,525 | €4,125 | -€400 | -8.8% |
| Taxes, remuneration and social security | 45 | €14,156 | €13,467 | -€689 | -4.9% |
| Taxes | 450/3 | €14,156 | €13,467 | -€689 | -4.9% |
| Accrued charges and deferred income | 492/3 | €2,530 | €2,658 | +€128 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,472 | €27,815 | -€657 | -2.3% |
| Other operating charges | 640/8 | €3,413 | €1,775,748 | +€1.8m | +51927.6% |
| Gross operating margin | 9900 | €66,225 | €85,356 | +€19,132 | +28.9% |
| Operating profit (loss) | 9901 | €34,340 | -€1,718,206 | -€1.8m | |
| Financial income | 75/76B | €4,725 | €4,725 | = | 0.0% |
| Recurring financial income | 75 | €4,725 | €4,725 | = | 0.0% |
| Financial charges | 65/66B | €6,901 | €4,900 | -€2,001 | -29.0% |
| Recurring financial charges | 65 | €6,901 | €4,900 | -€2,001 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €32,163 | -€1,718,382 | -€1.8m | |
| Income taxes | 67/77 | €10,287 | €13,181 | +€2,894 | +28.1% |
| Profit (loss) for the period | 9904 | €21,876 | -€1,731,563 | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €21,876 | -€1,731,563 | -€1.8m |
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 29 September 2026 via checked.be.