SKAR: 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.
SKAR
Largest movements
- Tangible fixed assets -€34,124
down €34,124 (-3.6%), from €954,435 to €920,311
of which Land and buildings: -€33,686
- Cash -€30,301
down €30,301 (-43.7%), from €69,321 to €39,020
mainly Debts after one year (-€32,148) and Other debts (-€20,000)
- Debts after one year -€32,148
down €32,148 (-4.2%), from €769,121 to €736,973
- Other debts -€20,000
down €20,000 (-7.9%), from €252,566 to €232,566
- Profit (loss) carried forward -€19,856
down €19,856 (-53.5%), from -€37,140 to -€56,996
- Trade debts +€11,961
new in 2025: €11,961
- Gross operating margin +€52,785
up €52,785 (+951.1%), from €5,550 to €58,334
- Depreciation +€21,724
up €21,724 (+175.2%), from €12,400 to €34,124
- Financial charges +€14,099
up €14,099 (+78.3%), from €18,007 to €32,106
- Other operating charges +€7,459
up €7,459 (+165.7%), from €4,501 to €11,961
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 | €1,025,425 | €966,651 | -€58,774 | -5.7% |
| Fixed assets | 21/28 | €954,435 | €920,311 | -€34,124 | -3.6% |
| Tangible fixed assets | 22/27 | €954,435 | €920,311 | -€34,124 | -3.6% |
| Land and buildings | 22 | €950,127 | €916,441 | -€33,686 | -3.5% |
| Other tangible fixed assets | 26 | €4,308 | €3,870 | -€437 | -10.2% |
| Current assets | 29/58 | €70,991 | €46,340 | -€24,651 | -34.7% |
| Amounts receivable within one year | 40/41 | - | €5,634 | +€5,634 | |
| Trade receivables | 40 | - | €5,634 | +€5,634 | |
| Cash at bank and in hand | 54/58 | €69,321 | €39,020 | -€30,301 | -43.7% |
| Deferred charges and accrued income | 490/1 | €1,669 | €1,686 | +€16 | +1.0% |
| Total equity and liabilities | 10/49 | €1,025,425 | €966,651 | -€58,774 | -5.7% |
| Equity | 10/15 | -€27,140 | -€46,996 | -€19,856 | -73.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,140 | -€56,996 | -€19,856 | -53.5% |
| Amounts payable | 17/49 | €1,052,566 | €1,013,648 | -€38,918 | -3.7% |
| Amounts payable after more than one year | 17 | €769,121 | €736,973 | -€32,148 | -4.2% |
| Financial debts | 170/4 | €769,121 | €736,973 | -€32,148 | -4.2% |
| Amounts payable within one year | 42/48 | €283,445 | €276,675 | -€6,770 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €30,879 | €32,148 | +€1,269 | +4.1% |
| Trade debts | 44 | - | €11,961 | +€11,961 | |
| Suppliers | 440/4 | - | €11,961 | +€11,961 | |
| Other amounts payable | 47/48 | €252,566 | €232,566 | -€20,000 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,400 | €34,124 | +€21,724 | +175.2% |
| Other operating charges | 640/8 | €4,501 | €11,961 | +€7,459 | +165.7% |
| Gross operating margin | 9900 | €5,550 | €58,334 | +€52,785 | +951.1% |
| Operating profit (loss) | 9901 | -€11,351 | €12,250 | +€23,601 | |
| Financial charges | 65/66B | €18,007 | €32,106 | +€14,099 | +78.3% |
| Recurring financial charges | 65 | €18,007 | €32,106 | +€14,099 | +78.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,358 | -€19,856 | +€9,502 | +32.4% |
| Profit (loss) for the period | 9904 | -€29,358 | -€19,856 | +€9,502 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,358 | -€19,856 | +€9,502 | +32.4% |
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 3 October 2026 via checked.be.