SKAL: 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.
SKAL
Largest movements
- Tangible fixed assets -€113,134
down €113,134 (-60.1%), from €188,249 to €75,115
of which Plant, machinery and equipment: -€116,799
- Receivables within one year -€4,643
down €4,643 (-59.8%), from €7,768 to €3,125
of which Other amounts receivable: -€7,175
- Trade debts -€74,921
down €74,921 (-33.9%), from €221,081 to €146,160
- Debts after one year -€47,819
down €47,819 (-45.1%), from €106,088 to €58,268
- Profit (loss) carried forward +€25,829
up €25,829 (+94.0%), from -€27,484 to -€1,655
- Investment grants -€21,594
no longer reported in 2025 (was €21,594)
- Tax, wage and social debts +€11,212
up €11,212 (+65.8%), from €17,047 to €28,260
of which Remuneration and social security: +€8,678
- Gross operating margin +€88,767
up €88,767 (+42.7%), from €207,724 to €296,490
- Staff costs +€46,678
up €46,678 (+26.2%), from €178,259 to €224,937
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €401,544 | €283,870 | -€117,674 | -29.3% |
| Fixed assets | 21/28 | €188,249 | €75,115 | -€113,134 | -60.1% |
| Tangible fixed assets | 22/27 | €188,249 | €75,115 | -€113,134 | -60.1% |
| Land and buildings | 22 | - | €7,223 | +€7,223 | |
| Plant, machinery and equipment | 23 | €180,725 | €63,925 | -€116,799 | -64.6% |
| Furniture and vehicles | 24 | €3,967 | €1,290 | -€2,677 | -67.5% |
| Other tangible fixed assets | 26 | €3,558 | €2,677 | -€881 | -24.8% |
| Current assets | 29/58 | €213,295 | €208,755 | -€4,540 | -2.1% |
| Stocks and contracts in progress | 3 | €73,175 | €74,705 | +€1,530 | +2.1% |
| Stocks | 30/36 | €73,175 | €74,705 | +€1,530 | +2.1% |
| Amounts receivable within one year | 40/41 | €7,768 | €3,125 | -€4,643 | -59.8% |
| Trade receivables | 40 | €447 | €2,979 | +€2,532 | +566.1% |
| Other amounts receivable | 41 | €7,321 | €146 | -€7,175 | -98.0% |
| Cash at bank and in hand | 54/58 | €115,370 | €117,257 | +€1,887 | +1.6% |
| Deferred charges and accrued income | 490/1 | €16,982 | €13,668 | -€3,313 | -19.5% |
| Total equity and liabilities | 10/49 | €401,544 | €283,870 | -€117,674 | -29.3% |
| Equity | 10/15 | €19,110 | €23,345 | +€4,234 | +22.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,484 | -€1,655 | +€25,829 | +94.0% |
| Investment grants | 15 | €21,594 | - | -€21,594 | |
| Amounts payable | 17/49 | €382,434 | €260,525 | -€121,908 | -31.9% |
| Amounts payable after more than one year | 17 | €106,088 | €58,268 | -€47,819 | -45.1% |
| Financial debts | 170/4 | €106,088 | €58,268 | -€47,819 | -45.1% |
| Amounts payable within one year | 42/48 | €265,817 | €202,257 | -€63,560 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €26,312 | €25,154 | -€1,158 | -4.4% |
| Trade debts | 44 | €221,081 | €146,160 | -€74,921 | -33.9% |
| Suppliers | 440/4 | €221,081 | €146,160 | -€74,921 | -33.9% |
| Taxes, remuneration and social security | 45 | €17,047 | €28,260 | +€11,212 | +65.8% |
| Taxes | 450/3 | - | €2,535 | +€2,535 | |
| Remuneration and social security | 454/9 | €17,047 | €25,725 | +€8,678 | +50.9% |
| Other amounts payable | 47/48 | €1,377 | €2,683 | +€1,307 | +94.9% |
| Accrued charges and deferred income | 492/3 | €10,529 | - | -€10,529 | |
| Remuneration, social security and pensions | 62 | €178,259 | €224,937 | +€46,678 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,692 | €57,164 | -€527 | -0.9% |
| Other operating charges | 640/8 | €895 | €602 | -€293 | -32.7% |
| Gross operating margin | 9900 | €207,724 | €296,490 | +€88,767 | +42.7% |
| Operating profit (loss) | 9901 | -€29,121 | €13,787 | +€42,908 | |
| Financial income | 75/76B | €11,378 | €11,131 | -€247 | -2.2% |
| Recurring financial income | 75 | €11,378 | €11,131 | -€247 | -2.2% |
| Financial charges | 65/66B | €10,923 | €13,037 | +€2,114 | +19.4% |
| Recurring financial charges | 65 | €10,923 | €13,037 | +€2,114 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | -€28,667 | €11,881 | +€40,548 | |
| Income taxes | 67/77 | - | €422 | +€422 | |
| Profit (loss) for the period | 9904 | -€28,667 | €11,459 | +€40,126 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,667 | €11,459 | +€40,126 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.