Scheldekabel: 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.
Scheldekabel
Largest movements
- Deferred charges and accrued income -€588,245
no longer reported in 2025 (was €588,245)
- Receivables within one year -€564,493
down €564,493 (-17.2%), from €3.3m to €2.7m
of which Trade receivables: -€460,184
- Stocks and contracts +€491,022
up €491,022 (+66.9%), from €733,874 to €1.2m
- Cash +€329,955
up €329,955 (+2,382%), from €13,852 to €343,807
mainly Deferred charges and accrued income (+€588,245) and Receivables within one year (+€564,493)
- Trade debts -€507,796
down €507,796 (-22.9%), from €2.2m to €1.7m
- Reserves +€264,867
up €264,867 (+12.9%), from €2.1m to €2.3m
of which Distributable reserves: +€264,867
- Other debts +€117,851
up €117,851 (+161%), from €73,343 to €191,195
- Short-term financial debts -€116,589
down €116,589 (-93.3%), from €125,000 to €8,411
- Profit (loss) carried forward -€88,208
no longer reported in 2025 (was €88,208)
- Gross operating margin +€436,418
up €436,418 (+17.5%), from €2.5m to €2.9m
- Staff costs +€286,583
up €286,583 (+12.8%), from €2.2m to €2.5m
- Taxes +€48,664
up €48,664 (+91.0%), from €53,457 to €102,122
- Other operating charges +€36,109
up €36,109 (+340%), from €10,616 to €46,724
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 | €4,747,049 | €4,440,286 | -€306,762 | -6.5% |
| Fixed assets | 21/28 | €124,167 | €149,166 | +€24,999 | +20.1% |
| Tangible fixed assets | 22/27 | €106,496 | €131,495 | +€24,999 | +23.5% |
| Plant, machinery and equipment | 23 | €56,027 | €80,022 | +€23,995 | +42.8% |
| Furniture and vehicles | 24 | €24,561 | €18,610 | -€5,950 | -24.2% |
| Other tangible fixed assets | 26 | €25,909 | €32,863 | +€6,954 | +26.8% |
| Financial fixed assets | 28 | €17,671 | €17,671 | = | 0.0% |
| Current assets | 29/58 | €4,622,882 | €4,291,120 | -€331,761 | -7.2% |
| Stocks and contracts in progress | 3 | €733,874 | €1,224,896 | +€491,022 | +66.9% |
| Stocks | 30/36 | €733,874 | €1,224,896 | +€491,022 | +66.9% |
| Amounts receivable within one year | 40/41 | €3,286,910 | €2,722,417 | -€564,493 | -17.2% |
| Trade receivables | 40 | €3,022,839 | €2,562,654 | -€460,184 | -15.2% |
| Other amounts receivable | 41 | €264,071 | €159,762 | -€104,309 | -39.5% |
| Cash at bank and in hand | 54/58 | €13,852 | €343,807 | +€329,955 | +2,382% |
| Deferred charges and accrued income | 490/1 | €588,245 | - | -€588,245 | |
| Total equity and liabilities | 10/49 | €4,747,049 | €4,440,286 | -€306,762 | -6.5% |
| Equity | 10/15 | €2,272,954 | €2,449,613 | +€176,659 | +7.8% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €2,059,747 | €2,324,613 | +€264,867 | +12.9% |
| Non-distributable reserves | 130/1 | €99,263 | €99,263 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €86,763 | €86,763 | = | 0.0% |
| Distributable reserves | 133 | €1,960,484 | €2,225,350 | +€264,867 | +13.5% |
| Profit (loss) carried forward | 14 | €88,208 | - | -€88,208 | |
| Amounts payable | 17/49 | €2,474,094 | €1,990,673 | -€483,421 | -19.5% |
| Amounts payable within one year | 42/48 | €2,462,519 | €1,990,673 | -€471,846 | -19.2% |
| Financial debts | 43 | €125,000 | €8,411 | -€116,589 | -93.3% |
| Credit institutions | 430/8 | €125,000 | €8,411 | -€116,589 | -93.3% |
| Trade debts | 44 | €2,222,018 | €1,714,221 | -€507,796 | -22.9% |
| Suppliers | 440/4 | €2,222,018 | €1,714,221 | -€507,796 | -22.9% |
| Taxes, remuneration and social security | 45 | €42,158 | €76,846 | +€34,688 | +82.3% |
| Taxes | 450/3 | €3,457 | €27,122 | +€23,664 | +684% |
| Remuneration and social security | 454/9 | €38,701 | €49,725 | +€11,024 | +28.5% |
| Other amounts payable | 47/48 | €73,343 | €191,195 | +€117,851 | +161% |
| Accrued charges and deferred income | 492/3 | €11,575 | - | -€11,575 | |
| Non-recurring operating income | 76A | €34,675 | - | -€34,675 | |
| Remuneration, social security and pensions | 62 | €2,241,758 | €2,528,341 | +€286,583 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,909 | €38,289 | +€3,380 | +9.7% |
| Other operating charges | 640/8 | €10,616 | €46,724 | +€36,109 | +340% |
| Non-recurring operating charges | 66A | €1,740 | €1,609 | -€131 | -7.6% |
| Gross operating margin | 9900 | €2,491,477 | €2,927,895 | +€436,418 | +17.5% |
| Operating profit (loss) | 9901 | €202,454 | €312,932 | +€110,478 | +54.6% |
| Financial income | 75/76B | €257 | €430 | +€173 | +67.6% |
| Recurring financial income | 75 | €257 | €430 | +€173 | +67.6% |
| Financial charges | 65/66B | €61,046 | €34,582 | -€26,464 | -43.4% |
| Recurring financial charges | 65 | €61,046 | €34,582 | -€26,464 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | €141,665 | €278,780 | +€137,115 | +96.8% |
| Income taxes | 67/77 | €53,457 | €102,122 | +€48,664 | +91.0% |
| Profit (loss) for the period | 9904 | €88,208 | €176,659 | +€88,451 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €88,208 | €176,659 | +€88,451 | +100% |
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.