SECURITY FIRST: 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.
SECURITY FIRST
Largest movements
- Tangible fixed assets +€43,462
up €43,462 (+603.5%), from €7,201 to €50,664
of which Furniture and vehicles: +€40,645
- Receivables within one year +€32,401
up €32,401 (+140.2%), from €23,106 to €55,506
of which Trade receivables: +€37,501
- Stocks and contracts +€5,322
up €5,322 (+33.3%), from €15,989 to €21,311
- Cash +€4,037
up €4,037 (+26.9%), from €14,998 to €19,035
mainly Net result for the year (+€28,317) and Debts after one year (+€23,145)
- Deferred charges and accrued income +€2,628
up €2,628 (+328.2%), from €801 to €3,429
- Reserves +€28,317
up €28,317 (+105.3%), from €26,888 to €55,204
- Debts after one year +€23,145
new in 2025: €23,145
- Trade debts +€17,909
up €17,909 (+123.1%), from €14,546 to €32,455
- Current portion of long-term debt +€11,861
new in 2025: €11,861
- Tax, wage and social debts +€10,353
up €10,353 (+214.0%), from €4,838 to €15,191
of which Taxes: +€7,746
- Gross operating margin +€55,546
up €55,546 (+113.6%), from €48,897 to €104,443
- Staff costs +€33,860
up €33,860 (+143.2%), from €23,638 to €57,497
- Financial charges +€3,485
up €3,485 (+346.0%), from €1,007 to €4,493
- Taxes +€3,015
up €3,015 (+70.9%), from €4,251 to €7,266
- Depreciation +€1,360
up €1,360 (+29.2%), from €4,661 to €6,021
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 | €65,195 | €153,044 | +€87,850 | +134.7% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €10,301 | €53,764 | +€43,462 | +421.9% |
| Tangible fixed assets | 22/27 | €7,201 | €50,664 | +€43,462 | +603.5% |
| Plant, machinery and equipment | 23 | €437 | €3,254 | +€2,817 | +644.2% |
| Furniture and vehicles | 24 | €6,764 | €47,410 | +€40,645 | +600.9% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €54,893 | €99,280 | +€44,387 | +80.9% |
| Stocks and contracts in progress | 3 | €15,989 | €21,311 | +€5,322 | +33.3% |
| Stocks | 30/36 | €15,989 | €21,311 | +€5,322 | +33.3% |
| Amounts receivable within one year | 40/41 | €23,106 | €55,506 | +€32,401 | +140.2% |
| Trade receivables | 40 | €9,614 | €47,114 | +€37,501 | +390.1% |
| Other amounts receivable | 41 | €13,492 | €8,392 | -€5,100 | -37.8% |
| Cash at bank and in hand | 54/58 | €14,998 | €19,035 | +€4,037 | +26.9% |
| Deferred charges and accrued income | 490/1 | €801 | €3,429 | +€2,628 | +328.2% |
| Total equity and liabilities | 10/49 | €65,195 | €153,044 | +€87,850 | +134.7% |
| Equity | 10/15 | €41,888 | €70,204 | +€28,317 | +67.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €26,888 | €55,204 | +€28,317 | +105.3% |
| Distributable reserves | 133 | €26,888 | €55,204 | +€28,317 | +105.3% |
| Amounts payable | 17/49 | €23,307 | €82,840 | +€59,533 | +255.4% |
| Amounts payable after more than one year | 17 | - | €23,145 | +€23,145 | |
| Financial debts | 170/4 | - | €23,145 | +€23,145 | |
| Amounts payable within one year | 42/48 | €23,307 | €59,695 | +€36,388 | +156.1% |
| Current portion of amounts payable after more than one year | 42 | - | €11,861 | +€11,861 | |
| Trade debts | 44 | €14,546 | €32,455 | +€17,909 | +123.1% |
| Suppliers | 440/4 | €14,546 | €32,455 | +€17,909 | +123.1% |
| Taxes, remuneration and social security | 45 | €4,838 | €15,191 | +€10,353 | +214.0% |
| Taxes | 450/3 | - | €7,746 | +€7,746 | |
| Remuneration and social security | 454/9 | €4,838 | €7,445 | +€2,607 | +53.9% |
| Other amounts payable | 47/48 | €3,923 | €188 | -€3,735 | -95.2% |
| Remuneration, social security and pensions | 62 | €23,638 | €57,497 | +€33,860 | +143.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,661 | €6,021 | +€1,360 | +29.2% |
| Other operating charges | 640/8 | €657 | €850 | +€194 | +29.5% |
| Gross operating margin | 9900 | €48,897 | €104,443 | +€55,546 | +113.6% |
| Operating profit (loss) | 9901 | €19,942 | €40,075 | +€20,133 | +101.0% |
| Financial income | 75/76B | €4 | €1 | -€4 | -85.0% |
| Recurring financial income | 75 | €4 | €1 | -€4 | -85.0% |
| Financial charges | 65/66B | €1,007 | €4,493 | +€3,485 | +346.0% |
| Recurring financial charges | 65 | €1,007 | €4,493 | +€3,485 | +346.0% |
| Profit (loss) for the period before taxes | 9903 | €18,939 | €35,583 | +€16,644 | +87.9% |
| Income taxes | 67/77 | €4,251 | €7,266 | +€3,015 | +70.9% |
| Profit (loss) for the period | 9904 | €14,688 | €28,317 | +€13,629 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,688 | €28,317 | +€13,629 | +92.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.