SCHOULS: what changed
Two fiscal 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.
SCHOULS
Largest movements
- Receivables within one year +€255,241
up €255,241 (+53.2%), from €479,545 to €734,787
of which Trade receivables: +€264,204
- Tangible fixed assets +€228,225
up €228,225 (+16.1%), from €1.4m to €1.6m
of which Leasing and similar rights: +€207,053
- Trade debts +€205,073
up €205,073 (+85.9%), from €238,688 to €443,761
- Current portion of long-term debt +€93,312
up €93,312 (+36.3%), from €257,274 to €350,586
- Reserves +€82,000
up €82,000 (+13.1%), from €626,423 to €708,423
of which Distributable reserves: +€82,000
- Debts after one year +€66,843
up €66,843 (+12.2%), from €549,277 to €616,121
- Other debts +€28,747
up €28,747 (+954.9%), from €3,011 to €31,757
- Staff costs -€99,608
down €99,608 (-8.3%), from €1.2m to €1.1m
- Depreciation +€22,648
up €22,648 (+7.6%), from €296,068 to €318,716
- Taxes +€21,768
up €21,768 (+84.5%), from €25,765 to €47,533
- Gross operating margin +€17,130
up €17,130 (+1.0%), from €1.7m to €1.7m
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 | €2,140,603 | €2,617,654 | +€477,051 | +22.3% |
| Fixed assets | 21/28 | €1,422,941 | €1,662,740 | +€239,799 | +16.9% |
| Intangible fixed assets | 21 | - | €11,304 | +€11,304 | |
| Tangible fixed assets | 22/27 | €1,420,022 | €1,648,246 | +€228,225 | +16.1% |
| Land and buildings | 22 | €349,122 | €338,092 | -€11,030 | -3.2% |
| Plant, machinery and equipment | 23 | €2,715 | €2,379 | -€336 | -12.4% |
| Furniture and vehicles | 24 | €120,186 | €152,723 | +€32,538 | +27.1% |
| Leasing and similar rights | 25 | €947,999 | €1,155,052 | +€207,053 | +21.8% |
| Financial fixed assets | 28 | €2,920 | €3,190 | +€270 | +9.2% |
| Current assets | 29/58 | €717,661 | €954,913 | +€237,252 | +33.1% |
| Stocks and contracts in progress | 3 | €7,620 | €7,200 | -€420 | -5.5% |
| Stocks | 30/36 | €7,620 | €7,200 | -€420 | -5.5% |
| Amounts receivable within one year | 40/41 | €479,545 | €734,787 | +€255,241 | +53.2% |
| Trade receivables | 40 | €457,133 | €721,337 | +€264,204 | +57.8% |
| Other amounts receivable | 41 | €22,412 | €13,450 | -€8,962 | -40.0% |
| Cash at bank and in hand | 54/58 | €226,376 | €211,065 | -€15,311 | -6.8% |
| Deferred charges and accrued income | 490/1 | €4,120 | €1,861 | -€2,258 | -54.8% |
| Total equity and liabilities | 10/49 | €2,140,603 | €2,617,654 | +€477,051 | +22.3% |
| Equity | 10/15 | €819,655 | €900,103 | +€80,448 | +9.8% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €626,423 | €708,423 | +€82,000 | +13.1% |
| Tax-exempt reserves | 132 | €101,723 | €101,723 | = | 0.0% |
| Distributable reserves | 133 | €524,700 | €606,700 | +€82,000 | +15.6% |
| Profit (loss) carried forward | 14 | €81,232 | €79,679 | -€1,552 | -1.9% |
| Amounts payable | 17/49 | €1,320,947 | €1,717,551 | +€396,603 | +30.0% |
| Amounts payable after more than one year | 17 | €549,277 | €616,121 | +€66,843 | +12.2% |
| Financial debts | 170/4 | €549,277 | €616,121 | +€66,843 | +12.2% |
| Amounts payable within one year | 42/48 | €763,641 | €1,089,775 | +€326,134 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €257,274 | €350,586 | +€93,312 | +36.3% |
| Financial debts | 43 | €159,950 | €159,950 | = | 0.0% |
| Other loans | 439 | €159,950 | €159,950 | = | 0.0% |
| Trade debts | 44 | €238,688 | €443,761 | +€205,073 | +85.9% |
| Suppliers | 440/4 | €238,688 | €443,761 | +€205,073 | +85.9% |
| Taxes, remuneration and social security | 45 | €104,719 | €103,721 | -€998 | -1.0% |
| Taxes | 450/3 | €9,322 | €7,952 | -€1,370 | -14.7% |
| Remuneration and social security | 454/9 | €95,397 | €95,769 | +€372 | +0.4% |
| Other amounts payable | 47/48 | €3,011 | €31,757 | +€28,747 | +954.9% |
| Accrued charges and deferred income | 492/3 | €8,029 | €11,655 | +€3,627 | +45.2% |
| Non-recurring operating income | 76A | €36,037 | €47,500 | +€11,463 | +31.8% |
| Remuneration, social security and pensions | 62 | €1,199,167 | €1,099,559 | -€99,608 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €296,068 | €318,716 | +€22,648 | +7.6% |
| Other operating charges | 640/8 | €17,171 | €17,082 | -€89 | -0.5% |
| Gross operating margin | 9900 | €1,656,285 | €1,673,414 | +€17,130 | +1.0% |
| Operating profit (loss) | 9901 | €143,878 | €238,057 | +€94,179 | +65.5% |
| Financial income | 75/76B | €2,812 | €644 | -€2,169 | -77.1% |
| Recurring financial income | 75 | €2,812 | €644 | -€2,169 | -77.1% |
| Financial charges | 65/66B | €45,260 | €51,053 | +€5,794 | +12.8% |
| Recurring financial charges | 65 | €45,260 | €51,053 | +€5,794 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €101,431 | €187,647 | +€86,216 | +85.0% |
| Income taxes | 67/77 | €25,765 | €47,533 | +€21,768 | +84.5% |
| Profit (loss) for the period | 9904 | €75,665 | €140,114 | +€64,448 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €75,665 | €140,114 | +€64,448 | +85.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.