SBTR: 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.
SBTR
Largest movements
- Receivables within one year +€9,905
up €9,905 (+574.7%), from €1,723 to €11,628
- Tangible fixed assets -€4,900
down €4,900 (-17.0%), from €28,853 to €23,953
- Deferred charges and accrued income +€1,286
up €1,286 (+61.5%), from €2,090 to €3,375
- Tax, wage and social debts +€5,988
up €5,988 (+5015.9%), from €119 to €6,107
of which Remuneration and social security: +€5,156
- Reserves +€815
new in 2025: €815
- Other debts -€603
down €603 (-2.0%), from €29,474 to €28,871
- Trade debts -€449
down €449 (-20.3%), from €2,217 to €1,768
- Gross operating margin -€20,653
down €20,653 (-69.9%), from €29,534 to €8,882
- Depreciation +€4,558
up €4,558 (+244.7%), from €1,863 to €6,420
- Taxes +€499
up €499 (+1162.7%), from €43 to €542
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 | €34,513 | €40,561 | +€6,048 | +17.5% |
| Fixed assets | 21/28 | €28,853 | €23,953 | -€4,900 | -17.0% |
| Tangible fixed assets | 22/27 | €28,853 | €23,953 | -€4,900 | -17.0% |
| Furniture and vehicles | 24 | €28,853 | €23,953 | -€4,900 | -17.0% |
| Current assets | 29/58 | €5,660 | €16,609 | +€10,948 | +193.4% |
| Amounts receivable within one year | 40/41 | €1,723 | €11,628 | +€9,905 | +574.7% |
| Trade receivables | 40 | €1,723 | €11,628 | +€9,905 | +574.7% |
| Cash at bank and in hand | 54/58 | €1,847 | €1,605 | -€242 | -13.1% |
| Deferred charges and accrued income | 490/1 | €2,090 | €3,375 | +€1,286 | +61.5% |
| Total equity and liabilities | 10/49 | €34,513 | €40,561 | +€6,048 | +17.5% |
| Equity | 10/15 | €2,702 | €3,815 | +€1,112 | +41.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €815 | +€815 | |
| Distributable reserves | 133 | - | €815 | +€815 | |
| Profit (loss) carried forward | 14 | -€298 | - | +€298 | |
| Amounts payable | 17/49 | €31,811 | €36,747 | +€4,935 | +15.5% |
| Amounts payable within one year | 42/48 | €31,811 | €36,747 | +€4,935 | +15.5% |
| Trade debts | 44 | €2,217 | €1,768 | -€449 | -20.3% |
| Suppliers | 440/4 | €2,217 | €1,768 | -€449 | -20.3% |
| Taxes, remuneration and social security | 45 | €119 | €6,107 | +€5,988 | +5015.9% |
| Taxes | 450/3 | €119 | €951 | +€832 | +696.9% |
| Remuneration and social security | 454/9 | - | €5,156 | +€5,156 | |
| Other amounts payable | 47/48 | €29,474 | €28,871 | -€603 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,863 | €6,420 | +€4,558 | +244.7% |
| Other operating charges | 640/8 | €439 | €525 | +€85 | +19.4% |
| Gross operating margin | 9900 | €29,534 | €8,882 | -€20,653 | -69.9% |
| Operating profit (loss) | 9901 | €27,232 | €1,937 | -€25,296 | -92.9% |
| Financial charges | 65/66B | €181 | €282 | +€101 | +56.2% |
| Recurring financial charges | 65 | €181 | €282 | +€101 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €27,052 | €1,655 | -€25,397 | -93.9% |
| Income taxes | 67/77 | €43 | €542 | +€499 | +1162.7% |
| Profit (loss) for the period | 9904 | €27,009 | €1,112 | -€25,896 | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,009 | €1,112 | -€25,896 | -95.9% |
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 11 October 2026 via checked.be.