SCHUBERT: 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.
SCHUBERT
Largest movements
- Cash +€485,536
up €485,536 (+459.9%), from €105,569 to €591,105
mainly Net result for the year (+€1.1m) and Tax, wage and social debts (+€184,697)
- Receivables within one year +€301,621
up €301,621 (+211.8%), from €142,379 to €444,000
of which Other amounts receivable: +€301,621
- Tangible fixed assets -€51,849
down €51,849 (-2.0%), from €2.6m to €2.6m
of which Land and buildings: -€121,949
- Reserves +€683,647
up €683,647 (+48.6%), from €1.4m to €2.1m
- Tax, wage and social debts +€184,697
up €184,697 (+158.1%), from €116,839 to €301,536
- Other debts -€72,000
down €72,000 (-7.0%), from €1.0m to €954,675
No income-statement line moved by more than 1% of the activity.
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 | €2,896,825 | €3,632,229 | +€735,403 | +25.4% |
| Fixed assets | 21/28 | €2,647,195 | €2,595,346 | -€51,849 | -2.0% |
| Tangible fixed assets | 22/27 | €2,647,195 | €2,595,346 | -€51,849 | -2.0% |
| Land and buildings | 22 | €2,312,848 | €2,190,899 | -€121,949 | -5.3% |
| Plant, machinery and equipment | 23 | €189,724 | €250,606 | +€60,882 | +32.1% |
| Other tangible fixed assets | 26 | €144,623 | €153,842 | +€9,218 | +6.4% |
| Current assets | 29/58 | €249,631 | €1,036,883 | +€787,252 | +315.4% |
| Amounts receivable within one year | 40/41 | €142,379 | €444,000 | +€301,621 | +211.8% |
| Trade receivables | 40 | €24,000 | €24,000 | = | 0.0% |
| Other amounts receivable | 41 | €118,379 | €420,000 | +€301,621 | +254.8% |
| Cash at bank and in hand | 54/58 | €105,569 | €591,105 | +€485,536 | +459.9% |
| Deferred charges and accrued income | 490/1 | €1,683 | €1,778 | +€95 | +5.6% |
| Total equity and liabilities | 10/49 | €2,896,825 | €3,632,229 | +€735,403 | +25.4% |
| Equity | 10/15 | €1,430,731 | €2,114,378 | +€683,647 | +47.8% |
| Contributions | 10/11 | €25,083 | €25,083 | = | 0.0% |
| Outside capital | 11 | €25,083 | €25,083 | = | 0.0% |
| Share premium | 1100/10 | €25,083 | €25,083 | = | 0.0% |
| Reserves | 13 | €1,405,648 | €2,089,294 | +€683,647 | +48.6% |
| Distributable reserves | 133 | €1,405,648 | €2,089,294 | +€683,647 | +48.6% |
| Amounts payable | 17/49 | €1,466,095 | €1,517,851 | +€51,756 | +3.5% |
| Amounts payable after more than one year | 17 | €213,790 | €183,476 | -€30,314 | -14.2% |
| Financial debts | 170/4 | €213,790 | €183,476 | -€30,314 | -14.2% |
| Amounts payable within one year | 42/48 | €1,252,305 | €1,334,375 | +€82,071 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €31,750 | €31,953 | +€203 | +0.6% |
| Financial debts | 43 | €75,925 | €45,558 | -€30,367 | -40.0% |
| Credit institutions | 430/8 | €75,925 | €45,558 | -€30,367 | -40.0% |
| Trade debts | 44 | €1,116 | €654 | -€462 | -41.4% |
| Suppliers | 440/4 | €1,116 | €654 | -€462 | -41.4% |
| Taxes, remuneration and social security | 45 | €116,839 | €301,536 | +€184,697 | +158.1% |
| Taxes | 450/3 | €116,839 | €301,536 | +€184,697 | +158.1% |
| Other amounts payable | 47/48 | €1,026,675 | €954,675 | -€72,000 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,160 | €143,565 | +€5,406 | +3.9% |
| Other operating charges | 640/8 | €20,664 | €20,936 | +€272 | +1.3% |
| Gross operating margin | 9900 | €1,625,142 | €1,629,155 | +€4,013 | +0.2% |
| Operating profit (loss) | 9901 | €1,466,319 | €1,464,654 | -€1,665 | -0.1% |
| Financial income | 75/76B | €61 | €639 | +€577 | +938.9% |
| Recurring financial income | 75 | €61 | €639 | +€577 | +938.9% |
| Financial charges | 65/66B | €11,485 | €8,757 | -€2,728 | -23.8% |
| Recurring financial charges | 65 | €11,485 | €8,757 | -€2,728 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €1,454,895 | €1,456,536 | +€1,640 | +0.1% |
| Income taxes | 67/77 | €368,857 | €372,889 | +€4,031 | +1.1% |
| Profit (loss) for the period | 9904 | €1,086,038 | €1,083,647 | -€2,391 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,086,038 | €1,083,647 | -€2,391 | -0.2% |
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 7 October 2026 via checked.be.