SCHEERS David: 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.
SCHEERS David
Largest movements
- Receivables within one year +€345,790
up €345,790 (+60.0%), from €575,884 to €921,674
of which Trade receivables: +€328,708
- Tangible fixed assets -€137,612
down €137,612 (-7.9%), from €1.7m to €1.6m
- Other debts +€289,044
new in 2025: €289,044
- Current portion of long-term debt -€118,531
down €118,531 (-34.6%), from €342,892 to €224,361
- Reserves +€77,265
up €77,265 (+14.5%), from €531,808 to €609,073
- Debts after one year -€64,554
down €64,554 (-5.9%), from €1.1m to €1.0m
- Tax, wage and social debts +€60,157
up €60,157 (+213%), from €28,233 to €88,390
of which Taxes: +€51,853
- Gross operating margin +€841,580
up €841,580 (+86.0%), from €978,333 to €1.8m
- Taxes +€151,623
up €151,623, from -€1,778 to €149,845
- Depreciation +€92,023
up €92,023 (+29.4%), from €313,117 to €405,140
- Staff costs +€65,509
up €65,509 (+9.3%), from €704,425 to €769,934
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 | €2,333,001 | €2,535,544 | +€202,543 | +8.7% |
| Fixed assets | 21/28 | €1,739,378 | €1,601,766 | -€137,612 | -7.9% |
| Tangible fixed assets | 22/27 | €1,738,347 | €1,600,735 | -€137,612 | -7.9% |
| Land and buildings | 22 | €464,610 | €436,964 | -€27,646 | -6.0% |
| Plant, machinery and equipment | 23 | €763,976 | €713,093 | -€50,883 | -6.7% |
| Furniture and vehicles | 24 | €509,761 | €450,678 | -€59,083 | -11.6% |
| Financial fixed assets | 28 | €1,031 | €1,031 | = | 0.0% |
| Current assets | 29/58 | €593,623 | €933,778 | +€340,155 | +57.3% |
| Amounts receivable within one year | 40/41 | €575,884 | €921,674 | +€345,790 | +60.0% |
| Trade receivables | 40 | €457,255 | €785,963 | +€328,708 | +71.9% |
| Other amounts receivable | 41 | €118,629 | €135,711 | +€17,082 | +14.4% |
| Cash at bank and in hand | 54/58 | €2,947 | €2,180 | -€767 | -26.0% |
| Deferred charges and accrued income | 490/1 | €14,792 | €9,924 | -€4,868 | -32.9% |
| Total equity and liabilities | 10/49 | €2,333,001 | €2,535,544 | +€202,543 | +8.7% |
| Equity | 10/15 | €569,910 | €647,175 | +€77,265 | +13.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €531,808 | €609,073 | +€77,265 | +14.5% |
| Distributable reserves | 133 | €531,808 | €609,073 | +€77,265 | +14.5% |
| Profit (loss) carried forward | 14 | €25,702 | €25,702 | = | 0.0% |
| Amounts payable | 17/49 | €1,763,091 | €1,888,369 | +€125,278 | +7.1% |
| Amounts payable after more than one year | 17 | €1,101,914 | €1,037,360 | -€64,554 | -5.9% |
| Financial debts | 170/4 | €1,101,914 | €1,037,360 | -€64,554 | -5.9% |
| Amounts payable within one year | 42/48 | €661,177 | €851,009 | +€189,832 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €342,892 | €224,361 | -€118,531 | -34.6% |
| Financial debts | 43 | €31,361 | €22,527 | -€8,834 | -28.2% |
| Credit institutions | 430/8 | €31,361 | €22,527 | -€8,834 | -28.2% |
| Trade debts | 44 | €258,691 | €226,687 | -€32,004 | -12.4% |
| Suppliers | 440/4 | €258,691 | €226,687 | -€32,004 | -12.4% |
| Taxes, remuneration and social security | 45 | €28,233 | €88,390 | +€60,157 | +213% |
| Taxes | 450/3 | - | €51,853 | +€51,853 | |
| Remuneration and social security | 454/9 | €28,233 | €36,537 | +€8,304 | +29.4% |
| Other amounts payable | 47/48 | - | €289,044 | +€289,044 | |
| Remuneration, social security and pensions | 62 | €704,425 | €769,934 | +€65,509 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,117 | €405,140 | +€92,023 | +29.4% |
| Other operating charges | 640/8 | €20,889 | €14,373 | -€6,516 | -31.2% |
| Gross operating margin | 9900 | €978,333 | €1,819,913 | +€841,580 | +86.0% |
| Operating profit (loss) | 9901 | -€60,098 | €630,466 | +€690,564 | |
| Financial income | 75/76B | €2,095 | €117 | -€1,978 | -94.4% |
| Recurring financial income | 75 | €2,095 | €117 | -€1,978 | -94.4% |
| Financial charges | 65/66B | €41,658 | €55,800 | +€14,142 | +33.9% |
| Recurring financial charges | 65 | €41,658 | €55,800 | +€14,142 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | -€99,661 | €574,783 | +€674,444 | |
| Income taxes | 67/77 | -€1,778 | €149,845 | +€151,623 | |
| Profit (loss) for the period | 9904 | -€97,883 | €424,938 | +€522,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€97,883 | €424,938 | +€522,821 |
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 15 October 2026 via checked.be.