SBR Experts: 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.
SBR Experts
Largest movements
- Tangible fixed assets +€364,937
up €364,937 (+2138.1%), from €17,068 to €382,005
of which Land and buildings: +€369,766
- Cash -€35,349
down €35,349 (-35.1%), from €100,745 to €65,396
mainly Investment in fixed assets (net) (-€376,107) and Contributions, distributions and other (-€64,000)
- Receivables within one year +€15,221
up €15,221 (+47.7%), from €31,930 to €47,151
- Deferred charges and accrued income -€6,353
down €6,353 (-33.4%), from €19,014 to €12,661
- Debts after one year +€255,851
new in 2025: €255,851
- Other debts +€41,882
up €41,882 (+109.5%), from €38,245 to €80,127
- Current portion of long-term debt +€14,893
new in 2025: €14,893
- Tax, wage and social debts +€14,003
up €14,003 (+119.4%), from €11,725 to €25,728
- Trade debts +€12,274
up €12,274 (+455.1%), from €2,697 to €14,971
- Gross operating margin +€24,538
up €24,538 (+30.4%), from €80,722 to €105,260
- Taxes +€10,786
up €10,786 (+69.1%), from €15,607 to €26,394
- Depreciation +€6,286
up €6,286 (+128.7%), from €4,884 to €11,170
- Financial charges +€5,152
up €5,152 (+4517.6%), from €114 to €5,266
- Financial income +€1,216
up €1,216 (+159.4%), from €763 to €1,980
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 | €221,849 | €560,305 | +€338,456 | +152.6% |
| Fixed assets | 21/28 | €17,068 | €382,005 | +€364,937 | +2138.1% |
| Tangible fixed assets | 22/27 | €17,068 | €382,005 | +€364,937 | +2138.1% |
| Land and buildings | 22 | - | €369,766 | +€369,766 | |
| Furniture and vehicles | 24 | €14,828 | €9,998 | -€4,829 | -32.6% |
| Other tangible fixed assets | 26 | €2,241 | €2,241 | = | 0.0% |
| Current assets | 29/58 | €204,781 | €178,299 | -€26,481 | -12.9% |
| Amounts receivable within one year | 40/41 | €31,930 | €47,151 | +€15,221 | +47.7% |
| Trade receivables | 40 | €31,930 | €47,151 | +€15,221 | +47.7% |
| Current investments | 50/53 | €53,091 | €53,091 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €100,745 | €65,396 | -€35,349 | -35.1% |
| Deferred charges and accrued income | 490/1 | €19,014 | €12,661 | -€6,353 | -33.4% |
| Total equity and liabilities | 10/49 | €221,849 | €560,305 | +€338,456 | +152.6% |
| Equity | 10/15 | €169,182 | €168,735 | -€447 | -0.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €163,800 | €163,300 | -€500 | -0.3% |
| Distributable reserves | 133 | €163,800 | €163,300 | -€500 | -0.3% |
| Profit (loss) carried forward | 14 | €382 | €435 | +€53 | +13.8% |
| Amounts payable | 17/49 | €52,667 | €391,570 | +€338,903 | +643.5% |
| Amounts payable after more than one year | 17 | - | €255,851 | +€255,851 | |
| Financial debts | 170/4 | - | €255,851 | +€255,851 | |
| Amounts payable within one year | 42/48 | €52,667 | €135,719 | +€83,052 | +157.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,893 | +€14,893 | |
| Trade debts | 44 | €2,697 | €14,971 | +€12,274 | +455.1% |
| Suppliers | 440/4 | €2,697 | €14,971 | +€12,274 | +455.1% |
| Taxes, remuneration and social security | 45 | €11,725 | €25,728 | +€14,003 | +119.4% |
| Taxes | 450/3 | €11,725 | €25,728 | +€14,003 | +119.4% |
| Other amounts payable | 47/48 | €38,245 | €80,127 | +€41,882 | +109.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,884 | €11,170 | +€6,286 | +128.7% |
| Other operating charges | 640/8 | €793 | €857 | +€64 | +8.1% |
| Gross operating margin | 9900 | €80,722 | €105,260 | +€24,538 | +30.4% |
| Operating profit (loss) | 9901 | €75,046 | €93,233 | +€18,187 | +24.2% |
| Financial income | 75/76B | €763 | €1,980 | +€1,216 | +159.4% |
| Recurring financial income | 75 | €763 | €1,980 | +€1,216 | +159.4% |
| Financial charges | 65/66B | €114 | €5,266 | +€5,152 | +4517.6% |
| Recurring financial charges | 65 | €114 | €5,266 | +€5,152 | +4517.6% |
| Profit (loss) for the period before taxes | 9903 | €75,695 | €89,946 | +€14,251 | +18.8% |
| Income taxes | 67/77 | €15,607 | €26,394 | +€10,786 | +69.1% |
| Profit (loss) for the period | 9904 | €60,087 | €63,553 | +€3,465 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,087 | €63,553 | +€3,465 | +5.8% |
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 9 October 2026 via checked.be.