SKAJ: 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.
SKAJ
Largest movements
- Receivables within one year -€8,047
down €8,047 (-92.3%), from €8,722 to €675
of which Trade receivables: -€8,033
- Tangible fixed assets +€6,077
up €6,077 (+4.8%), from €127,626 to €133,702
of which Land and buildings: +€7,077
- Intangible fixed assets -€2,500
down €2,500 (-31.1%), from €8,041 to €5,541
- Cash +€1,971
up €1,971 (+56.1%), from €3,514 to €5,485
mainly Debts after one year (+€12,904) and Depreciation (+€8,423)
- Deferred charges and accrued income +€1,645
new in 2025: €1,645
- Debts after one year +€12,904
up €12,904 (+14.4%), from €89,560 to €102,463
- Other debts -€5,715
down €5,715 (-97.9%), from €5,840 to €125
- Reserves -€5,097
down €5,097 (-30.5%), from €16,705 to €11,609
- Tax, wage and social debts -€3,100
down €3,100 (-74.6%), from €4,158 to €1,058
- Current portion of long-term debt +€2,268
up €2,268 (+29.0%), from €7,829 to €10,098
- Gross operating margin -€5,854
down €5,854 (-41.1%), from €14,256 to €8,401
- Other operating charges -€700
down €700 (-29.5%), from €2,376 to €1,676
- Taxes -€282
down €282 (-62.7%), from €449 to €167
- Financial charges +€229
up €229 (+7.6%), from €3,003 to €3,232
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 | €147,903 | €147,049 | -€854 | -0.6% |
| Fixed assets | 21/28 | €135,667 | €139,244 | +€3,577 | +2.6% |
| Intangible fixed assets | 21 | €8,041 | €5,541 | -€2,500 | -31.1% |
| Tangible fixed assets | 22/27 | €127,626 | €133,702 | +€6,077 | +4.8% |
| Land and buildings | 22 | €126,409 | €133,486 | +€7,077 | +5.6% |
| Plant, machinery and equipment | 23 | €1,216 | €216 | -€1,000 | -82.2% |
| Current assets | 29/58 | €12,236 | €7,805 | -€4,431 | -36.2% |
| Amounts receivable within one year | 40/41 | €8,722 | €675 | -€8,047 | -92.3% |
| Trade receivables | 40 | €8,708 | €675 | -€8,033 | -92.3% |
| Other amounts receivable | 41 | €14 | €0 | -€14 | -100% |
| Cash at bank and in hand | 54/58 | €3,514 | €5,485 | +€1,971 | +56.1% |
| Deferred charges and accrued income | 490/1 | - | €1,645 | +€1,645 | |
| Total equity and liabilities | 10/49 | €147,903 | €147,049 | -€854 | -0.6% |
| Equity | 10/15 | €35,305 | €30,209 | -€5,097 | -14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,705 | €11,609 | -€5,097 | -30.5% |
| Distributable reserves | 133 | €16,705 | €11,609 | -€5,097 | -30.5% |
| Amounts payable | 17/49 | €112,597 | €116,840 | +€4,243 | +3.8% |
| Amounts payable after more than one year | 17 | €89,560 | €102,463 | +€12,904 | +14.4% |
| Financial debts | 170/4 | €89,560 | €102,463 | +€12,904 | +14.4% |
| Amounts payable within one year | 42/48 | €22,217 | €14,300 | -€7,918 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €7,829 | €10,098 | +€2,268 | +29.0% |
| Financial debts | 43 | - | €104 | +€104 | |
| Credit institutions | 430/8 | - | €104 | +€104 | |
| Trade debts | 44 | €4,389 | €2,914 | -€1,475 | -33.6% |
| Suppliers | 440/4 | €4,389 | €2,914 | -€1,475 | -33.6% |
| Taxes, remuneration and social security | 45 | €4,158 | €1,058 | -€3,100 | -74.6% |
| Taxes | 450/3 | €4,158 | €1,058 | -€3,100 | -74.6% |
| Other amounts payable | 47/48 | €5,840 | €125 | -€5,715 | -97.9% |
| Accrued charges and deferred income | 492/3 | €820 | €77 | -€743 | -90.6% |
| Non-recurring operating income | 76A | €2,373 | €0 | -€2,373 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,409 | €8,423 | +€14 | +0.2% |
| Other operating charges | 640/8 | €2,376 | €1,676 | -€700 | -29.5% |
| Gross operating margin | 9900 | €14,256 | €8,401 | -€5,854 | -41.1% |
| Operating profit (loss) | 9901 | €3,471 | -€1,697 | -€5,168 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,003 | €3,232 | +€229 | +7.6% |
| Recurring financial charges | 65 | €3,003 | €3,232 | +€229 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €468 | -€4,929 | -€5,397 | |
| Income taxes | 67/77 | €449 | €167 | -€282 | -62.7% |
| Profit (loss) for the period | 9904 | €19 | -€5,097 | -€5,116 | |
| Profit (loss) for the period to be appropriated | 9905 | €19 | -€5,097 | -€5,116 |
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 16 October 2026 via checked.be.