SCHOUBS: 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.
SCHOUBS
Largest movements
- Receivables within one year +€259,108
up €259,108 (+57.1%), from €453,522 to €712,630
of which Trade receivables: +€406,473
- Tangible fixed assets -€49,830
down €49,830 (-18.3%), from €272,192 to €222,362
of which Land and buildings: -€33,706
- Stocks and contracts -€43,273
down €43,273 (-3.4%), from €1.3m to €1.2m
- Cash +€39,568
up €39,568 (+43.0%), from €92,021 to €131,589
mainly Accrued charges and deferred income (+€182,456) and Net result for the year (+€181,432)
- Accrued charges and deferred income +€182,456
up €182,456 (+297%), from €61,422 to €243,878
- Current portion of long-term debt +€160,705
up €160,705 (+329%), from €48,850 to €209,555
- Other debts -€75,000
down €75,000 (-27.3%), from €275,000 to €200,000
- Debts after one year -€41,177
down €41,177 (-58.3%), from €70,591 to €29,414
- Gross operating margin +€192,084
up €192,084 (+47.4%), from €405,392 to €597,476
- Write-downs -€81,384
down €81,384, from €76,657 to -€4,727
- Taxes +€63,134
up €63,134 (+1,204%), from €5,245 to €68,380
- Financial charges +€12,387
up €12,387 (+63.3%), from €19,563 to €31,949
- Other operating charges -€9,927
down €9,927 (-55.5%), from €17,894 to €7,967
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 | €2,115,641 | €2,327,898 | +€212,257 | +10.0% |
| Fixed assets | 21/28 | €273,928 | €223,728 | -€50,200 | -18.3% |
| Tangible fixed assets | 22/27 | €272,192 | €222,362 | -€49,830 | -18.3% |
| Land and buildings | 22 | €166,752 | €133,045 | -€33,706 | -20.2% |
| Plant, machinery and equipment | 23 | €21,525 | €17,316 | -€4,210 | -19.6% |
| Furniture and vehicles | 24 | €83,915 | €72,001 | -€11,914 | -14.2% |
| Financial fixed assets | 28 | €1,736 | €1,366 | -€370 | -21.3% |
| Current assets | 29/58 | €1,841,713 | €2,104,170 | +€262,457 | +14.3% |
| Stocks and contracts in progress | 3 | €1,282,800 | €1,239,527 | -€43,273 | -3.4% |
| Stocks | 30/36 | €1,282,800 | €1,239,527 | -€43,273 | -3.4% |
| Amounts receivable within one year | 40/41 | €453,522 | €712,630 | +€259,108 | +57.1% |
| Trade receivables | 40 | €172,915 | €579,388 | +€406,473 | +235% |
| Other amounts receivable | 41 | €280,607 | €133,243 | -€147,365 | -52.5% |
| Cash at bank and in hand | 54/58 | €92,021 | €131,589 | +€39,568 | +43.0% |
| Deferred charges and accrued income | 490/1 | €13,370 | €20,424 | +€7,053 | +52.8% |
| Total equity and liabilities | 10/49 | €2,115,641 | €2,327,898 | +€212,257 | +10.0% |
| Equity | 10/15 | €979,314 | €960,747 | -€18,568 | -1.9% |
| Contributions | 10/11 | €98,750 | €98,750 | = | 0.0% |
| Reserves | 13 | €667,175 | €667,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €44,435 | €44,435 | = | 0.0% |
| Reserves not available under the articles | 1311 | €44,435 | €44,435 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,040 | €135,040 | = | 0.0% |
| Distributable reserves | 133 | €487,700 | €487,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,389 | €194,821 | -€18,568 | -8.7% |
| Provisions and deferred taxes | 16 | €11,250 | €11,250 | = | 0.0% |
| Deferred taxes | 168 | €11,250 | €11,250 | = | 0.0% |
| Amounts payable | 17/49 | €1,125,077 | €1,355,902 | +€230,825 | +20.5% |
| Amounts payable after more than one year | 17 | €70,591 | €29,414 | -€41,177 | -58.3% |
| Financial debts | 170/4 | €70,591 | €29,414 | -€41,177 | -58.3% |
| Amounts payable within one year | 42/48 | €993,064 | €1,082,609 | +€89,546 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €48,850 | €209,555 | +€160,705 | +329% |
| Financial debts | 43 | €320,000 | €320,000 | = | 0.0% |
| Credit institutions | 430/8 | €320,000 | €320,000 | = | 0.0% |
| Trade debts | 44 | €313,457 | €316,246 | +€2,790 | +0.9% |
| Suppliers | 440/4 | €313,457 | €316,246 | +€2,790 | +0.9% |
| Taxes, remuneration and social security | 45 | €35,757 | €36,808 | +€1,051 | +2.9% |
| Taxes | 450/3 | €3,797 | €4,657 | +€860 | +22.7% |
| Remuneration and social security | 454/9 | €31,961 | €32,151 | +€190 | +0.6% |
| Other amounts payable | 47/48 | €275,000 | €200,000 | -€75,000 | -27.3% |
| Accrued charges and deferred income | 492/3 | €61,422 | €243,878 | +€182,456 | +297% |
| Non-recurring operating income | 76A | €421 | - | -€421 | |
| Remuneration, social security and pensions | 62 | €246,702 | €247,468 | +€766 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,906 | €71,886 | +€4,980 | +7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €76,657 | -€4,727 | -€81,384 | |
| Other operating charges | 640/8 | €17,894 | €7,967 | -€9,927 | -55.5% |
| Non-recurring operating charges | 66A | €908 | - | -€908 | |
| Gross operating margin | 9900 | €405,392 | €597,476 | +€192,084 | +47.4% |
| Operating profit (loss) | 9901 | -€3,674 | €274,882 | +€278,555 | |
| Financial income | 75/76B | €9,822 | €6,879 | -€2,943 | -30.0% |
| Recurring financial income | 75 | €9,822 | €6,879 | -€2,943 | -30.0% |
| Financial charges | 65/66B | €19,563 | €31,949 | +€12,387 | +63.3% |
| Recurring financial charges | 65 | €19,563 | €31,949 | +€12,387 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,415 | €249,812 | +€263,226 | |
| Income taxes | 67/77 | €5,245 | €68,380 | +€63,134 | +1,204% |
| Profit (loss) for the period | 9904 | -€18,660 | €181,432 | +€200,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,660 | €181,432 | +€200,092 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.