SECURITY PRODUCTS: 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 PRODUCTS
Largest movements
- Cash -€66,196
down €66,196 (-56.0%), from €118,111 to €51,915
mainly Net result for the year (-€57,633) and Current investments (-€16,576)
- Current investments +€16,576
up €16,576 (+11.2%), from €147,400 to €163,975
- Stocks and contracts -€10,207
down €10,207 (-4.7%), from €216,224 to €206,016
- Tangible fixed assets -€6,882
down €6,882 (-23.4%), from €29,363 to €22,481
of which Furniture and vehicles: -€8,700
- Profit (loss) carried forward -€57,633
down €57,633 (-84.5%), from -€68,173 to -€125,807
- Trade debts -€9,003
down €9,003 (-20.7%), from €43,533 to €34,530
- Gross operating margin -€47,432
down €47,432 (-55.8%), from €85,029 to €37,598
- Staff costs +€3,814
up €3,814 (+5.3%), from €72,468 to €76,282
- Depreciation -€3,151
down €3,151 (-25.7%), from €12,283 to €9,132
- Financial income -€1,179
down €1,179 (-79.1%), from €1,491 to €312
- Other operating charges -€899
down €899 (-36.7%), from €2,449 to €1,551
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 | €639,796 | €574,686 | -€65,110 | -10.2% |
| Fixed assets | 21/28 | €29,413 | €22,531 | -€6,882 | -23.4% |
| Tangible fixed assets | 22/27 | €29,363 | €22,481 | -€6,882 | -23.4% |
| Plant, machinery and equipment | 23 | - | €1,818 | +€1,818 | |
| Furniture and vehicles | 24 | €29,363 | €20,663 | -€8,700 | -29.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €610,383 | €552,155 | -€58,228 | -9.5% |
| Stocks and contracts in progress | 3 | €216,224 | €206,016 | -€10,207 | -4.7% |
| Stocks | 30/36 | €216,224 | €206,016 | -€10,207 | -4.7% |
| Amounts receivable within one year | 40/41 | €128,279 | €129,554 | +€1,275 | +1.0% |
| Trade receivables | 40 | €128,279 | €129,554 | +€1,275 | +1.0% |
| Current investments | 50/53 | €147,400 | €163,975 | +€16,576 | +11.2% |
| Cash at bank and in hand | 54/58 | €118,111 | €51,915 | -€66,196 | -56.0% |
| Deferred charges and accrued income | 490/1 | €370 | €694 | +€325 | +87.8% |
| Total equity and liabilities | 10/49 | €639,796 | €574,686 | -€65,110 | -10.2% |
| Equity | 10/15 | €560,800 | €503,167 | -€57,633 | -10.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €566,973 | €566,973 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €560,773 | €560,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,173 | -€125,807 | -€57,633 | -84.5% |
| Amounts payable | 17/49 | €78,996 | €71,519 | -€7,477 | -9.5% |
| Amounts payable within one year | 42/48 | €78,996 | €71,519 | -€7,477 | -9.5% |
| Trade debts | 44 | €43,533 | €34,530 | -€9,003 | -20.7% |
| Suppliers | 440/4 | €43,533 | €34,530 | -€9,003 | -20.7% |
| Advances received on contracts in progress | 46 | €121 | €1,296 | +€1,175 | +969.0% |
| Taxes, remuneration and social security | 45 | €16,096 | €17,748 | +€1,652 | +10.3% |
| Taxes | 450/3 | €12,183 | €11,955 | -€228 | -1.9% |
| Remuneration and social security | 454/9 | €3,912 | €5,792 | +€1,880 | +48.0% |
| Other amounts payable | 47/48 | €19,246 | €17,946 | -€1,300 | -6.8% |
| Remuneration, social security and pensions | 62 | €72,468 | €76,282 | +€3,814 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,283 | €9,132 | -€3,151 | -25.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,702 | €1,702 | = | 0.0% |
| Other operating charges | 640/8 | €2,449 | €1,551 | -€899 | -36.7% |
| Gross operating margin | 9900 | €85,029 | €37,598 | -€47,432 | -55.8% |
| Operating profit (loss) | 9901 | -€3,872 | -€51,068 | -€47,196 | -1218.8% |
| Financial income | 75/76B | €1,491 | €312 | -€1,179 | -79.1% |
| Recurring financial income | 75 | €1,491 | €312 | -€1,179 | -79.1% |
| Financial charges | 65/66B | €6,392 | €6,845 | +€453 | +7.1% |
| Recurring financial charges | 65 | €6,392 | €6,845 | +€453 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,773 | -€57,601 | -€48,828 | -556.6% |
| Income taxes | 67/77 | €327 | €32 | -€294 | -90.1% |
| Profit (loss) for the period | 9904 | -€9,100 | -€57,633 | -€48,534 | -533.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,100 | -€57,633 | -€48,534 | -533.4% |
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 1 October 2026 via checked.be.