SBR Management: 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 Management
Largest movements
- Receivables within one year +€58,206
up €58,206 (+105%), from €55,324 to €113,531
of which Other amounts receivable: +€29,728
- Cash -€14,768
down €14,768 (-40.2%), from €36,765 to €21,996
mainly Contributions, distributions and other (-€89,831) and Receivables within one year (-€58,206)
- Tangible fixed assets -€1,833
down €1,833 (-48.1%), from €3,811 to €1,978
- Other debts +€38,018
up €38,018 (+73.4%), from €51,814 to €89,831
- Tax, wage and social debts +€10,877
up €10,877 (+214%), from €5,087 to €15,964
- Trade debts -€7,071
down €7,071 (-33.9%), from €20,851 to €13,780
- Gross operating margin +€57,847
up €57,847 (+83.2%), from €69,561 to €127,408
- Taxes +€12,615
up €12,615 (+89.7%), from €14,062 to €26,677
- Financial charges +€1,551
up €1,551 (+64.4%), from €2,409 to €3,960
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 | €96,352 | €138,176 | +€41,824 | +43.4% |
| Fixed assets | 21/28 | €3,811 | €1,978 | -€1,833 | -48.1% |
| Tangible fixed assets | 22/27 | €3,811 | €1,978 | -€1,833 | -48.1% |
| Furniture and vehicles | 24 | €3,811 | €1,978 | -€1,833 | -48.1% |
| Current assets | 29/58 | €92,541 | €136,197 | +€43,657 | +47.2% |
| Amounts receivable within one year | 40/41 | €55,324 | €113,531 | +€58,206 | +105% |
| Trade receivables | 40 | €31,743 | €60,221 | +€28,478 | +89.7% |
| Other amounts receivable | 41 | €23,581 | €53,309 | +€29,728 | +126% |
| Cash at bank and in hand | 54/58 | €36,765 | €21,996 | -€14,768 | -40.2% |
| Deferred charges and accrued income | 490/1 | €452 | €670 | +€219 | +48.4% |
| Total equity and liabilities | 10/49 | €96,352 | €138,176 | +€41,824 | +43.4% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €77,752 | €119,576 | +€41,824 | +53.8% |
| Amounts payable within one year | 42/48 | €77,752 | €119,576 | +€41,824 | +53.8% |
| Trade debts | 44 | €20,851 | €13,780 | -€7,071 | -33.9% |
| Suppliers | 440/4 | €20,851 | €13,780 | -€7,071 | -33.9% |
| Taxes, remuneration and social security | 45 | €5,087 | €15,964 | +€10,877 | +214% |
| Taxes | 450/3 | €5,087 | €15,964 | +€10,877 | +214% |
| Other amounts payable | 47/48 | €51,814 | €89,831 | +€38,018 | +73.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,533 | €1,833 | +€299 | +19.5% |
| Other operating charges | 640/8 | €1,365 | €1,638 | +€273 | +20.0% |
| Non-recurring operating charges | 66A | - | €5,776 | +€5,776 | |
| Gross operating margin | 9900 | €69,561 | €127,408 | +€57,847 | +83.2% |
| Operating profit (loss) | 9901 | €66,662 | €118,161 | +€51,499 | +77.3% |
| Financial income | 75/76B | €1,622 | €2,307 | +€685 | +42.2% |
| Recurring financial income | 75 | €1,622 | €2,307 | +€685 | +42.2% |
| Financial charges | 65/66B | €2,409 | €3,960 | +€1,551 | +64.4% |
| Recurring financial charges | 65 | €2,409 | €3,960 | +€1,551 | +64.4% |
| Profit (loss) for the period before taxes | 9903 | €65,875 | €116,508 | +€50,633 | +76.9% |
| Income taxes | 67/77 | €14,062 | €26,677 | +€12,615 | +89.7% |
| Profit (loss) for the period | 9904 | €51,814 | €89,831 | +€38,018 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,814 | €89,831 | +€38,018 | +73.4% |
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 14 October 2026 via checked.be.