SBR Advisory: 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.
SBR Advisory
Largest movements
- Cash +€160,325
up €160,325 (+243.7%), from €65,779 to €226,103
mainly Current investments (+€147,626) and Net result for the year (+€125,601)
- Current investments -€147,626
down €147,626 (-47.4%), from €311,443 to €163,817
- Receivables within one year +€23,092
up €23,092 (+25.1%), from €91,870 to €114,962
of which Trade receivables: +€16,560
- Tangible fixed assets -€13,482
down €13,482 (-96.3%), from €14,004 to €522
of which Furniture and vehicles: -€13,117
- Profit (loss) carried forward +€37,366
up €37,366 (+9.2%), from €405,945 to €443,311
- Tax, wage and social debts -€15,590
down €15,590 (-46.9%), from €33,243 to €17,653
of which Taxes: -€15,590
- Gross operating margin -€11,158
down €11,158 (-6.3%), from €176,480 to €165,322
- Financial income +€6,609
up €6,609 (+80.3%), from €8,225 to €14,834
- Taxes -€5,946
down €5,946 (-14.9%), from €39,845 to €33,898
- Financial charges +€5,328
up €5,328 (+479.5%), from €1,111 to €6,439
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 | €483,403 | €506,324 | +€22,921 | +4.7% |
| Fixed assets | 21/28 | €14,004 | €522 | -€13,482 | -96.3% |
| Tangible fixed assets | 22/27 | €14,004 | €522 | -€13,482 | -96.3% |
| Furniture and vehicles | 24 | €13,639 | €522 | -€13,117 | -96.2% |
| Other tangible fixed assets | 26 | €366 | €0 | -€366 | -100.0% |
| Current assets | 29/58 | €469,399 | €505,802 | +€36,403 | +7.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €91,870 | €114,962 | +€23,092 | +25.1% |
| Trade receivables | 40 | €91,870 | €108,431 | +€16,560 | +18.0% |
| Other amounts receivable | 41 | - | €6,532 | +€6,532 | |
| Current investments | 50/53 | €311,443 | €163,817 | -€147,626 | -47.4% |
| Cash at bank and in hand | 54/58 | €65,779 | €226,103 | +€160,325 | +243.7% |
| Deferred charges and accrued income | 490/1 | €307 | €919 | +€612 | +199.8% |
| Total equity and liabilities | 10/49 | €483,403 | €506,324 | +€22,921 | +4.7% |
| Equity | 10/15 | €411,945 | €449,311 | +€37,366 | +9.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €405,945 | €443,311 | +€37,366 | +9.2% |
| Amounts payable | 17/49 | €71,457 | €57,012 | -€14,445 | -20.2% |
| Amounts payable within one year | 42/48 | €71,457 | €55,734 | -€15,724 | -22.0% |
| Trade debts | 44 | €1,726 | €2,153 | +€427 | +24.8% |
| Suppliers | 440/4 | €1,726 | €2,153 | +€427 | +24.8% |
| Taxes, remuneration and social security | 45 | €33,243 | €17,653 | -€15,590 | -46.9% |
| Taxes | 450/3 | €31,193 | €15,603 | -€15,590 | -50.0% |
| Remuneration and social security | 454/9 | €2,050 | €2,050 | = | 0.0% |
| Other amounts payable | 47/48 | €36,489 | €35,928 | -€561 | -1.5% |
| Accrued charges and deferred income | 492/3 | - | €1,279 | +€1,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,435 | €13,482 | +€47 | +0.4% |
| Other operating charges | 640/8 | €839 | €735 | -€103 | -12.3% |
| Gross operating margin | 9900 | €176,480 | €165,322 | -€11,158 | -6.3% |
| Operating profit (loss) | 9901 | €162,206 | €151,104 | -€11,102 | -6.8% |
| Financial income | 75/76B | €8,225 | €14,834 | +€6,609 | +80.3% |
| Recurring financial income | 75 | €8,225 | €14,834 | +€6,609 | +80.3% |
| Financial charges | 65/66B | €1,111 | €6,439 | +€5,328 | +479.5% |
| Recurring financial charges | 65 | €1,111 | €6,439 | +€5,328 | +479.5% |
| Profit (loss) for the period before taxes | 9903 | €169,320 | €159,499 | -€9,821 | -5.8% |
| Income taxes | 67/77 | €39,845 | €33,898 | -€5,946 | -14.9% |
| Profit (loss) for the period | 9904 | €129,476 | €125,601 | -€3,875 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,476 | €125,601 | -€3,875 | -3.0% |
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 8 October 2026 via checked.be.