SBU Consult: 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.
SBU Consult
Largest movements
- Cash -€29,318
down €29,318 (-18.5%), from €158,701 to €129,383
mainly Contributions, distributions and other (-€95,000) and Investment in fixed assets (net) (-€45,873)
- Tangible fixed assets +€23,462
up €23,462 (+41.9%), from €56,036 to €79,499
- Receivables within one year +€13,512
up €13,512 (+68.6%), from €19,710 to €33,223
of which Trade receivables: +€13,399
- Reserves -€17,835
down €17,835 (-13.1%), from €136,379 to €118,544
of which Distributable reserves: -€17,835
- Other debts +€14,286
up €14,286 (+17.7%), from €80,830 to €95,116
- Tax, wage and social debts +€13,062
up €13,062 (+148.6%), from €8,789 to €21,851
of which Taxes: +€12,122
- Gross operating margin +€57,626
up €57,626 (+55.5%), from €103,828 to €161,454
- Taxes +€37,793
up €37,793 (+236.3%), from €15,994 to €53,787
- Depreciation +€9,150
up €9,150 (+69.0%), from €13,261 to €22,410
- Other operating charges +€1,741
up €1,741 (+269.2%), from €647 to €2,387
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 | €235,688 | €244,973 | +€9,285 | +3.9% |
| Fixed assets | 21/28 | €56,036 | €79,499 | +€23,462 | +41.9% |
| Tangible fixed assets | 22/27 | €56,036 | €79,499 | +€23,462 | +41.9% |
| Furniture and vehicles | 24 | €56,036 | €79,499 | +€23,462 | +41.9% |
| Current assets | 29/58 | €179,652 | €165,475 | -€14,177 | -7.9% |
| Amounts receivable within one year | 40/41 | €19,710 | €33,223 | +€13,512 | +68.6% |
| Trade receivables | 40 | €19,710 | €33,109 | +€13,399 | +68.0% |
| Other amounts receivable | 41 | - | €114 | +€114 | |
| Current investments | 50/53 | €1,240 | €1,240 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €158,701 | €129,383 | -€29,318 | -18.5% |
| Deferred charges and accrued income | 490/1 | - | €1,629 | +€1,629 | |
| Total equity and liabilities | 10/49 | €235,688 | €244,973 | +€9,285 | +3.9% |
| Equity | 10/15 | €142,579 | €124,744 | -€17,835 | -12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €136,379 | €118,544 | -€17,835 | -13.1% |
| Tax-exempt reserves | 132 | €322 | €322 | = | 0.0% |
| Distributable reserves | 133 | €136,056 | €118,222 | -€17,835 | -13.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,109 | €120,230 | +€27,120 | +29.1% |
| Amounts payable within one year | 42/48 | €93,109 | €120,230 | +€27,120 | +29.1% |
| Financial debts | 43 | - | €89 | +€89 | |
| Credit institutions | 430/8 | - | €89 | +€89 | |
| Trade debts | 44 | €3,491 | €3,175 | -€316 | -9.1% |
| Suppliers | 440/4 | €3,491 | €3,175 | -€316 | -9.1% |
| Taxes, remuneration and social security | 45 | €8,789 | €21,851 | +€13,062 | +148.6% |
| Taxes | 450/3 | €7,443 | €19,565 | +€12,122 | +162.9% |
| Remuneration and social security | 454/9 | €1,345 | €2,285 | +€940 | +69.9% |
| Other amounts payable | 47/48 | €80,830 | €95,116 | +€14,286 | +17.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,261 | €22,410 | +€9,150 | +69.0% |
| Other operating charges | 640/8 | €647 | €2,387 | +€1,741 | +269.2% |
| Non-recurring operating charges | 66A | - | €5,578 | +€5,578 | |
| Gross operating margin | 9900 | €103,828 | €161,454 | +€57,626 | +55.5% |
| Operating profit (loss) | 9901 | €89,921 | €131,078 | +€41,157 | +45.8% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €124 | €142 | +€18 | +14.7% |
| Recurring financial charges | 65 | €124 | €142 | +€18 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €89,797 | €130,953 | +€41,155 | +45.8% |
| Income taxes | 67/77 | €15,994 | €53,787 | +€37,793 | +236.3% |
| Profit (loss) for the period | 9904 | €73,803 | €77,165 | +€3,362 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,803 | €77,165 | +€3,362 | +4.6% |
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.