Sflow: what changed
Two financial 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.
Sflow
Largest movements
- Current investments +€66,606
up €66,606 (+25.1%), from €265,015 to €331,621
- Cash -€25,851
down €25,851 (-87.5%), from €29,540 to €3,688
mainly Current investments (-€66,606) and Contributions, distributions and other (-€60,000)
- Receivables within one year -€13,001
down €13,001 (-64.8%), from €20,077 to €7,076
of which Trade receivables: -€13,968
- Tangible fixed assets -€7,833
down €7,833 (-40.6%), from €19,278 to €11,445
of which Furniture and vehicles: -€7,151
- Other debts +€60,000
new in 2025: €60,000
- Tax, wage and social debts -€36,270
down €36,270 (-55.7%), from €65,110 to €28,840
- Current portion of long-term debt -€6,074
no longer reported in 2025 (was €6,074)
- Gross operating margin -€24,378
down €24,378 (-22.0%), from €110,581 to €86,203
- Taxes -€2,287
down €2,287 (-9.9%), from €23,062 to €20,775
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.
Derived cash bridge
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 | €336,524 | €355,760 | +€19,235 | +5.7% |
| Fixed assets | 21/28 | €19,278 | €11,445 | -€7,833 | -40.6% |
| Tangible fixed assets | 22/27 | €19,278 | €11,445 | -€7,833 | -40.6% |
| Plant, machinery and equipment | 23 | €1,330 | €648 | -€682 | -51.3% |
| Furniture and vehicles | 24 | €17,948 | €10,797 | -€7,151 | -39.8% |
| Current assets | 29/58 | €317,246 | €344,315 | +€27,068 | +8.5% |
| Amounts receivable within one year | 40/41 | €20,077 | €7,076 | -€13,001 | -64.8% |
| Trade receivables | 40 | €15,119 | €1,151 | -€13,968 | -92.4% |
| Other amounts receivable | 41 | €4,958 | €5,925 | +€967 | +19.5% |
| Current investments | 50/53 | €265,015 | €331,621 | +€66,606 | +25.1% |
| Cash at bank and in hand | 54/58 | €29,540 | €3,688 | -€25,851 | -87.5% |
| Deferred charges and accrued income | 490/1 | €2,615 | €1,929 | -€685 | -26.2% |
| Total equity and liabilities | 10/49 | €336,524 | €355,760 | +€19,235 | +5.7% |
| Equity | 10/15 | €263,794 | €266,473 | +€2,679 | +1.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €258,794 | €261,473 | +€2,679 | +1.0% |
| Distributable reserves | 133 | €258,794 | €261,473 | +€2,679 | +1.0% |
| Amounts payable | 17/49 | €72,731 | €89,286 | +€16,556 | +22.8% |
| Amounts payable within one year | 42/48 | €72,731 | €89,286 | +€16,556 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €6,074 | - | -€6,074 | |
| Trade debts | 44 | €1,546 | €447 | -€1,100 | -71.1% |
| Suppliers | 440/4 | €1,546 | €447 | -€1,100 | -71.1% |
| Taxes, remuneration and social security | 45 | €65,110 | €28,840 | -€36,270 | -55.7% |
| Taxes | 450/3 | €65,110 | €28,840 | -€36,270 | -55.7% |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,955 | €7,833 | -€121 | -1.5% |
| Other operating charges | 640/8 | €1,274 | €865 | -€409 | -32.1% |
| Non-recurring operating charges | 66A | €2,113 | - | -€2,113 | |
| Gross operating margin | 9900 | €110,581 | €86,203 | -€24,378 | -22.0% |
| Operating profit (loss) | 9901 | €99,239 | €77,505 | -€21,734 | -21.9% |
| Financial income | 75/76B | €7,054 | €6,163 | -€892 | -12.6% |
| Recurring financial income | 75 | €4,163 | €6,163 | +€2,000 | +48.0% |
| Non-recurring financial income | 76B | €2,892 | - | -€2,892 | |
| Financial charges | 65/66B | €649 | €213 | -€435 | -67.1% |
| Recurring financial charges | 65 | €649 | €213 | -€435 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | €105,645 | €83,454 | -€22,191 | -21.0% |
| Income taxes | 67/77 | €23,062 | €20,775 | -€2,287 | -9.9% |
| Profit (loss) for the period | 9904 | €82,583 | €62,679 | -€19,904 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,583 | €62,679 | -€19,904 | -24.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.