SCT: 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.
SCT
Largest movements
- Receivables within one year +€6.6m
up €6.6m (+6623134.2%), from €100 to €6.6m
of which Trade receivables: +€6.6m
- Financial fixed assets -€2.9m
down €2.9m (-100.0%), from €2.9m to €0
- Receivables after one year +€2.8m
new in 2025: €2.8m
- Current investments +€762,000
up €762,000 (+26.2%), from €2.9m to €3.7m
- Cash -€606,067
down €606,067 (-29.5%), from €2.1m to €1.4m
mainly Receivables within one year (-€6.6m) and Receivables after one year (-€2.8m)
- Reserves +€6.0m
up €6.0m (+104.0%), from €5.8m to €11.8m
of which Distributable reserves: +€6.0m
- Tax, wage and social debts +€574,694
up €574,694 (+221.9%), from €258,978 to €833,672
- Gross operating margin +€6.4m
up €6.4m (+2295.3%), from €277,203 to €6.6m
- Financial income -€2.6m
down €2.6m (-96.9%), from €2.7m to €83,460
- Taxes +€310,721
up €310,721 (+92.8%), from €334,968 to €645,689
From the 31-03-2025 result to the 30-12-2025 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 31-03-2025 and 30-12-2025 balance sheets and the 30-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2025 | 30-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,593,085 | €15,218,614 | +€6.6m | +77.1% |
| Fixed assets | 21/28 | €3,619,159 | €647,168 | -€3.0m | -82.1% |
| Tangible fixed assets | 22/27 | €672,988 | €647,168 | -€25,820 | -3.8% |
| Land and buildings | 22 | €672,988 | €647,168 | -€25,820 | -3.8% |
| Financial fixed assets | 28 | €2,946,171 | €0 | -€2.9m | -100.0% |
| Current assets | 29/58 | €4,973,927 | €14,571,446 | +€9.6m | +193.0% |
| Amounts receivable after more than one year | 29 | - | €2,827,533 | +€2.8m | |
| Trade receivables | 290 | - | €2,827,533 | +€2.8m | |
| Amounts receivable within one year | 40/41 | €100 | €6,600,053 | +€6.6m | +6623134.2% |
| Trade receivables | 40 | - | €6,600,000 | +€6.6m | |
| Other amounts receivable | 41 | €100 | €53 | -€47 | -46.9% |
| Current investments | 50/53 | €2,913,000 | €3,675,000 | +€762,000 | +26.2% |
| Cash at bank and in hand | 54/58 | €2,054,656 | €1,448,589 | -€606,067 | -29.5% |
| Deferred charges and accrued income | 490/1 | €6,171 | €20,271 | +€14,100 | +228.5% |
| Total equity and liabilities | 10/49 | €8,593,085 | €15,218,614 | +€6.6m | +77.1% |
| Equity | 10/15 | €7,940,526 | €13,963,335 | +€6.0m | +75.8% |
| Contributions | 10/11 | €2,150,000 | €2,150,000 | = | 0.0% |
| Capital | 10 | €2,150,000 | €2,150,000 | = | 0.0% |
| Issued capital | 100 | €2,150,000 | €2,150,000 | = | 0.0% |
| Reserves | 13 | €5,790,526 | €11,813,335 | +€6.0m | +104.0% |
| Non-distributable reserves | 130/1 | €215,000 | €215,000 | = | 0.0% |
| Legal reserve | 130 | €215,000 | €215,000 | = | 0.0% |
| Distributable reserves | 133 | €5,575,526 | €11,598,335 | +€6.0m | +108.0% |
| Amounts payable | 17/49 | €652,559 | €1,255,279 | +€602,720 | +92.4% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €381,458 | €984,715 | +€603,257 | +158.1% |
| Trade debts | 44 | €802 | €4,532 | +€3,730 | +465.1% |
| Suppliers | 440/4 | €802 | €4,532 | +€3,730 | +465.1% |
| Taxes, remuneration and social security | 45 | €258,978 | €833,672 | +€574,694 | +221.9% |
| Taxes | 450/3 | €258,978 | €833,672 | +€574,694 | +221.9% |
| Other amounts payable | 47/48 | €121,678 | €146,511 | +€24,833 | +20.4% |
| Accrued charges and deferred income | 492/3 | €21,101 | €20,564 | -€537 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,022 | €25,820 | -€7,202 | -21.8% |
| Other operating charges | 640/8 | €7,798 | €7,613 | -€185 | -2.4% |
| Gross operating margin | 9900 | €277,203 | €6,639,786 | +€6.4m | +2295.3% |
| Operating profit (loss) | 9901 | €236,383 | €6,606,353 | +€6.4m | +2694.8% |
| Financial income | 75/76B | €2,704,066 | €83,460 | -€2.6m | -96.9% |
| Recurring financial income | 75 | €2,704,066 | €83,460 | -€2.6m | -96.9% |
| Financial charges | 65/66B | €28,458 | €21,315 | -€7,144 | -25.1% |
| Recurring financial charges | 65 | €28,458 | €21,315 | -€7,144 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €2,911,991 | €6,668,499 | +€3.8m | +129.0% |
| Income taxes | 67/77 | €334,968 | €645,689 | +€310,721 | +92.8% |
| Profit (loss) for the period | 9904 | €2,577,023 | €6,022,809 | +€3.4m | +133.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,577,023 | €6,022,809 | +€3.4m | +133.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.