SBW RENOVATION: 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.
SBW RENOVATION
Largest movements
- Cash +€23,885
up €23,885 (+79.4%), from €30,093 to €53,978
mainly Trade debts (+€25,336) and Other debts (+€8,530)
- Receivables within one year +€12,699
up €12,699 (+51.2%), from €24,793 to €37,492
of which Trade receivables: +€19,087
- Intangible fixed assets -€4,200
down €4,200 (-67.4%), from €6,228 to €2,028
- Trade debts +€25,336
up €25,336 (+268%), from €9,465 to €34,801
- Tax, wage and social debts -€9,125
down €9,125 (-30.7%), from €29,707 to €20,583
- Other debts +€8,530
up €8,530 (+62.4%), from €13,662 to €22,192
- Provisions +€5,000
up €5,000 (+50.0%), from €10,000 to €15,000
- Short-term financial debts +€2,441
new in 2025: €2,441
- Gross operating margin -€34,545
down €34,545 (-57.6%), from €59,938 to €25,393
- Taxes -€9,074
down €9,074 (-62.5%), from €14,522 to €5,448
- Provisions -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
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 | €62,843 | €95,022 | +€32,179 | +51.2% |
| Fixed assets | 21/28 | €7,596 | €2,888 | -€4,708 | -62.0% |
| Intangible fixed assets | 21 | €6,228 | €2,028 | -€4,200 | -67.4% |
| Tangible fixed assets | 22/27 | €1,367 | €859 | -€508 | -37.2% |
| Other tangible fixed assets | 26 | €1,367 | €859 | -€508 | -37.2% |
| Current assets | 29/58 | €55,247 | €92,134 | +€36,887 | +66.8% |
| Amounts receivable within one year | 40/41 | €24,793 | €37,492 | +€12,699 | +51.2% |
| Trade receivables | 40 | €18,227 | €37,314 | +€19,087 | +105% |
| Other amounts receivable | 41 | €6,566 | €178 | -€6,388 | -97.3% |
| Cash at bank and in hand | 54/58 | €30,093 | €53,978 | +€23,885 | +79.4% |
| Deferred charges and accrued income | 490/1 | €361 | €664 | +€303 | +84.0% |
| Total equity and liabilities | 10/49 | €62,843 | €95,022 | +€32,179 | +51.2% |
| Equity | 10/15 | €8 | €5 | -€3 | -37.6% |
| Profit (loss) carried forward | 14 | €8 | €5 | -€3 | -37.6% |
| Provisions and deferred taxes | 16 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Other liabilities and charges | 164/5 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Amounts payable | 17/49 | €52,834 | €80,017 | +€27,182 | +51.4% |
| Amounts payable within one year | 42/48 | €52,834 | €80,017 | +€27,182 | +51.4% |
| Financial debts | 43 | - | €2,441 | +€2,441 | |
| Credit institutions | 430/8 | - | €2,441 | +€2,441 | |
| Trade debts | 44 | €9,465 | €34,801 | +€25,336 | +268% |
| Suppliers | 440/4 | €9,465 | €34,801 | +€25,336 | +268% |
| Taxes, remuneration and social security | 45 | €29,707 | €20,583 | -€9,125 | -30.7% |
| Taxes | 450/3 | €29,707 | €20,583 | -€9,125 | -30.7% |
| Other amounts payable | 47/48 | €13,662 | €22,192 | +€8,530 | +62.4% |
| Non-recurring operating income | 76A | €2,714 | - | -€2,714 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,708 | €4,708 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Other operating charges | 640/8 | €433 | €36 | -€397 | -91.7% |
| Non-recurring operating charges | 66A | - | €614 | +€614 | |
| Gross operating margin | 9900 | €59,938 | €25,393 | -€34,545 | -57.6% |
| Operating profit (loss) | 9901 | €44,797 | €15,035 | -€29,762 | -66.4% |
| Financial income | 75/76B | €360 | - | -€360 | |
| Recurring financial income | 75 | €360 | - | -€360 | |
| Financial charges | 65/66B | €1,524 | €1,060 | -€464 | -30.5% |
| Recurring financial charges | 65 | €164 | €1,060 | +€896 | +545% |
| Non-recurring financial charges | 66B | €1,360 | - | -€1,360 | |
| Profit (loss) for the period before taxes | 9903 | €43,632 | €13,975 | -€29,657 | -68.0% |
| Income taxes | 67/77 | €14,522 | €5,448 | -€9,074 | -62.5% |
| Profit (loss) for the period | 9904 | €29,111 | €8,527 | -€20,584 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,111 | €8,527 | -€20,584 | -70.7% |
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 29 October 2026 via checked.be.