SBT IMMO: 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.
SBT IMMO
Largest movements
- Tangible fixed assets -€48,462
down €48,462 (-9.5%), from €508,354 to €459,892
- Cash -€16,167
down €16,167 (-51.0%), from €31,677 to €15,509
mainly Debts after one year (-€66,209) and Current portion of long-term debt (-€14,086)
- Debts after one year -€66,209
down €66,209 (-94.7%), from €69,948 to €3,740
of which Financial debts: -€66,209
- Current portion of long-term debt -€14,086
down €14,086 (-17.5%), from €80,295 to €66,209
- Trade debts +€11,306
up €11,306 (+93.1%), from €12,146 to €23,451
- Tax, wage and social debts -€9,887
down €9,887 (-64.4%), from €15,358 to €5,471
- Reserves +€7,350
up €7,350 (+5.5%), from €132,793 to €140,142
- Gross operating margin -€11,785
down €11,785 (-13.8%), from €85,415 to €73,631
- Financial charges -€2,590
down €2,590 (-25.8%), from €10,038 to €7,448
- Taxes -€2,414
down €2,414 (-50.2%), from €4,807 to €2,394
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 | €613,314 | €541,788 | -€71,527 | -11.7% |
| Fixed assets | 21/28 | €508,354 | €459,892 | -€48,462 | -9.5% |
| Tangible fixed assets | 22/27 | €508,354 | €459,892 | -€48,462 | -9.5% |
| Land and buildings | 22 | €508,354 | €459,892 | -€48,462 | -9.5% |
| Current assets | 29/58 | €104,960 | €81,895 | -€23,064 | -22.0% |
| Amounts receivable within one year | 40/41 | €68,944 | €63,602 | -€5,342 | -7.7% |
| Trade receivables | 40 | €11,314 | €5,040 | -€6,275 | -55.5% |
| Other amounts receivable | 41 | €57,630 | €58,562 | +€932 | +1.6% |
| Cash at bank and in hand | 54/58 | €31,677 | €15,509 | -€16,167 | -51.0% |
| Deferred charges and accrued income | 490/1 | €4,339 | €2,785 | -€1,554 | -35.8% |
| Total equity and liabilities | 10/49 | €613,314 | €541,788 | -€71,527 | -11.7% |
| Equity | 10/15 | €434,793 | €442,142 | +€7,350 | +1.7% |
| Contributions | 10/11 | €302,000 | €302,000 | = | 0.0% |
| Reserves | 13 | €132,793 | €140,142 | +€7,350 | +5.5% |
| Distributable reserves | 133 | €132,793 | €140,142 | +€7,350 | +5.5% |
| Amounts payable | 17/49 | €178,521 | €99,645 | -€78,876 | -44.2% |
| Amounts payable after more than one year | 17 | €69,948 | €3,740 | -€66,209 | -94.7% |
| Financial debts | 170/4 | €69,741 | €3,532 | -€66,209 | -94.9% |
| Other amounts payable | 178/9 | €207 | €207 | = | 0.0% |
| Amounts payable within one year | 42/48 | €107,798 | €95,131 | -€12,667 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €80,295 | €66,209 | -€14,086 | -17.5% |
| Trade debts | 44 | €12,146 | €23,451 | +€11,306 | +93.1% |
| Suppliers | 440/4 | €12,146 | €23,451 | +€11,306 | +93.1% |
| Taxes, remuneration and social security | 45 | €15,358 | €5,471 | -€9,887 | -64.4% |
| Taxes | 450/3 | €15,358 | €5,471 | -€9,887 | -64.4% |
| Accrued charges and deferred income | 492/3 | €775 | €775 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,462 | €48,462 | = | 0.0% |
| Other operating charges | 640/8 | €10,596 | €10,762 | +€166 | +1.6% |
| Gross operating margin | 9900 | €85,415 | €73,631 | -€11,785 | -13.8% |
| Operating profit (loss) | 9901 | €26,357 | €14,406 | -€11,951 | -45.3% |
| Financial income | 75/76B | €2,910 | €2,785 | -€126 | -4.3% |
| Recurring financial income | 75 | €2,910 | €2,785 | -€126 | -4.3% |
| Financial charges | 65/66B | €10,038 | €7,448 | -€2,590 | -25.8% |
| Recurring financial charges | 65 | €10,038 | €7,448 | -€2,590 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €19,230 | €9,743 | -€9,486 | -49.3% |
| Income taxes | 67/77 | €4,807 | €2,394 | -€2,414 | -50.2% |
| Profit (loss) for the period | 9904 | €14,422 | €7,350 | -€7,073 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,422 | €7,350 | -€7,073 | -49.0% |
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 28 October 2026 via checked.be.