SCOVEST: 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.
SCOVEST
Largest movements
- Receivables within one year +€251,879
up €251,879 (+287.5%), from €87,615 to €339,494
of which Other amounts receivable: +€167,349
- Cash -€38,837
down €38,837 (-69.0%), from €56,275 to €17,438
mainly Receivables within one year (-€251,879) and Investment in fixed assets (net) (-€26,265)
- Current investments -€34,000
down €34,000 (-15.5%), from €220,000 to €186,000
- Tangible fixed assets +€20,744
up €20,744 (+277.8%), from €7,467 to €28,211
- Reserves +€199,300
up €199,300 (+80.6%), from €247,336 to €446,636
- Tax, wage and social debts -€15,286
down €15,286 (-13.7%), from €111,332 to €96,046
of which Taxes: -€14,910
- Current portion of long-term debt +€9,003
up €9,003 (+211.6%), from €4,255 to €13,258
- Gross operating margin +€96,086
up €96,086 (+58.5%), from €164,268 to €260,354
- Taxes +€15,054
up €15,054 (+37.1%), from €40,587 to €55,641
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 | €371,768 | €572,088 | +€200,320 | +53.9% |
| Fixed assets | 21/28 | €7,467 | €28,211 | +€20,744 | +277.8% |
| Tangible fixed assets | 22/27 | €7,467 | €28,211 | +€20,744 | +277.8% |
| Furniture and vehicles | 24 | €7,467 | €28,211 | +€20,744 | +277.8% |
| Current assets | 29/58 | €364,301 | €543,877 | +€179,576 | +49.3% |
| Amounts receivable within one year | 40/41 | €87,615 | €339,494 | +€251,879 | +287.5% |
| Trade receivables | 40 | €86,815 | €171,346 | +€84,531 | +97.4% |
| Other amounts receivable | 41 | €800 | €168,149 | +€167,349 | +20919.4% |
| Current investments | 50/53 | €220,000 | €186,000 | -€34,000 | -15.5% |
| Cash at bank and in hand | 54/58 | €56,275 | €17,438 | -€38,837 | -69.0% |
| Deferred charges and accrued income | 490/1 | €411 | €945 | +€534 | +129.8% |
| Total equity and liabilities | 10/49 | €371,768 | €572,088 | +€200,320 | +53.9% |
| Equity | 10/15 | €253,336 | €452,636 | +€199,300 | +78.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €247,336 | €446,636 | +€199,300 | +80.6% |
| Distributable reserves | 133 | €247,336 | €446,636 | +€199,300 | +80.6% |
| Amounts payable | 17/49 | €118,432 | €119,452 | +€1,020 | +0.9% |
| Amounts payable after more than one year | 17 | €0 | €5,645 | +€5,645 | |
| Financial debts | 170/4 | €0 | €5,645 | +€5,645 | |
| Amounts payable within one year | 42/48 | €118,314 | €113,807 | -€4,507 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €4,255 | €13,258 | +€9,003 | +211.6% |
| Trade debts | 44 | €2,727 | €4,503 | +€1,776 | +65.1% |
| Suppliers | 440/4 | €2,727 | €4,503 | +€1,776 | +65.1% |
| Taxes, remuneration and social security | 45 | €111,332 | €96,046 | -€15,286 | -13.7% |
| Taxes | 450/3 | €110,956 | €96,046 | -€14,910 | -13.4% |
| Remuneration and social security | 454/9 | €376 | €0 | -€376 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €119 | €0 | -€119 | -100.0% |
| Non-recurring operating income | 76A | - | €6,161 | +€6,161 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,010 | €5,521 | -€2,489 | -31.1% |
| Other operating charges | 640/8 | €756 | €333 | -€423 | -56.0% |
| Gross operating margin | 9900 | €164,268 | €260,354 | +€96,086 | +58.5% |
| Operating profit (loss) | 9901 | €155,501 | €254,500 | +€98,999 | +63.7% |
| Financial income | 75/76B | €76 | €1,291 | +€1,215 | +1593.3% |
| Recurring financial income | 75 | €76 | €1,291 | +€1,215 | +1593.3% |
| Financial charges | 65/66B | €457 | €850 | +€393 | +86.2% |
| Recurring financial charges | 65 | €457 | €850 | +€393 | +86.2% |
| Profit (loss) for the period before taxes | 9903 | €155,121 | €254,941 | +€99,820 | +64.3% |
| Income taxes | 67/77 | €40,587 | €55,641 | +€15,054 | +37.1% |
| Profit (loss) for the period | 9904 | €114,534 | €199,300 | +€84,766 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,534 | €199,300 | +€84,766 | +74.0% |
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 8 October 2026 via checked.be.