SBTS: 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.
SBTS
Largest movements
- Cash +€38,286
up €38,286 (+56.0%), from €68,390 to €106,676
mainly Depreciation (+€22,049) and Current investments (+€16,764)
- Tangible fixed assets -€16,953
down €16,953 (-10.6%), from €159,190 to €142,237
- Current investments -€16,764
no longer reported in 2025 (was €16,764)
- Reserves +€8,094
up €8,094 (+21.1%), from €38,428 to €46,522
- Profit (loss) carried forward -€3,573
down €3,573 (-100.0%), from €3,573 to €0
- Gross operating margin +€6,047
up €6,047 (+24.9%), from €24,284 to €30,331
- Other operating charges +€2,060
new in 2025: €2,060
- Financial income -€2,006
down €2,006 (-94.4%), from €2,126 to €120
of which Non-recurring financial income: -€2,126
- Taxes +€550
up €550 (+46.1%), from €1,192 to €1,742
- Depreciation +€468
up €468 (+2.2%), from €21,581 to €22,049
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 | €342,679 | €346,802 | +€4,123 | +1.2% |
| Fixed assets | 21/28 | €159,190 | €142,237 | -€16,953 | -10.6% |
| Tangible fixed assets | 22/27 | €159,190 | €142,237 | -€16,953 | -10.6% |
| Land and buildings | 22 | €159,190 | €142,237 | -€16,953 | -10.6% |
| Current assets | 29/58 | €183,489 | €204,565 | +€21,076 | +11.5% |
| Amounts receivable within one year | 40/41 | €98,335 | €97,889 | -€446 | -0.5% |
| Trade receivables | 40 | €97,889 | €97,889 | = | 0.0% |
| Other amounts receivable | 41 | €446 | €0 | -€446 | -100.0% |
| Current investments | 50/53 | €16,764 | - | -€16,764 | |
| Cash at bank and in hand | 54/58 | €68,390 | €106,676 | +€38,286 | +56.0% |
| Total equity and liabilities | 10/49 | €342,679 | €346,802 | +€4,123 | +1.2% |
| Equity | 10/15 | €48,251 | €52,772 | +€4,521 | +9.4% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €38,428 | €46,522 | +€8,094 | +21.1% |
| Distributable reserves | 133 | €38,428 | €46,522 | +€8,094 | +21.1% |
| Profit (loss) carried forward | 14 | €3,573 | €0 | -€3,573 | -100.0% |
| Amounts payable | 17/49 | €294,428 | €294,031 | -€397 | -0.1% |
| Amounts payable within one year | 42/48 | €294,428 | €294,031 | -€397 | -0.1% |
| Trade debts | 44 | €39,444 | €37,510 | -€1,934 | -4.9% |
| Suppliers | 440/4 | €39,444 | €37,510 | -€1,934 | -4.9% |
| Taxes, remuneration and social security | 45 | €124 | €1,670 | +€1,546 | +1246.7% |
| Taxes | 450/3 | €124 | €1,670 | +€1,546 | +1246.7% |
| Other amounts payable | 47/48 | €254,860 | €254,851 | -€9 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,581 | €22,049 | +€468 | +2.2% |
| Other operating charges | 640/8 | - | €2,060 | +€2,060 | |
| Gross operating margin | 9900 | €24,284 | €30,331 | +€6,047 | +24.9% |
| Operating profit (loss) | 9901 | €2,703 | €6,222 | +€3,519 | +130.2% |
| Financial income | 75/76B | €2,126 | €120 | -€2,006 | -94.4% |
| Recurring financial income | 75 | €2,126 | €120 | -€2,006 | -94.4% |
| Non-recurring financial income | 76B | €2,126 | - | -€2,126 | |
| Financial charges | 65/66B | €64 | €79 | +€15 | +22.8% |
| Recurring financial charges | 65 | €64 | €79 | +€15 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €4,765 | €6,263 | +€1,498 | +31.4% |
| Income taxes | 67/77 | €1,192 | €1,742 | +€550 | +46.1% |
| Profit (loss) for the period | 9904 | €3,573 | €4,521 | +€948 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,573 | €4,521 | +€948 | +26.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.