SKM: 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.
SKM
Largest movements
- Cash +€60,813
up €60,813 (+37.5%), from €162,191 to €223,004
mainly Net result for the year (+€88,694) and Depreciation (+€60,562)
- Tangible fixed assets -€57,537
down €57,537 (-37.8%), from €152,080 to €94,543
of which Leasing and similar rights: -€32,010
- Receivables after one year +€7,000
up €7,000 (+20.0%), from €35,000 to €42,000
- Stocks and contracts +€5,410
up €5,410 (+126.8%), from €4,265 to €9,676
- Debts after one year -€37,083
down €37,083 (-25.8%), from €143,717 to €106,634
- Reserves +€29,870
up €29,870 (+14.1%), from €212,142 to €242,012
- Tax, wage and social debts +€28,616
up €28,616 (+206.1%), from €13,888 to €42,504
of which Taxes: +€25,740
- Gross operating margin +€65,644
up €65,644 (+44.5%), from €147,449 to €213,093
- Taxes +€28,260
up €28,260 (+276.0%), from €10,241 to €38,500
- Staff costs -€19,400
down €19,400 (-47.6%), from €40,789 to €21,389
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 | €431,574 | €451,679 | +€20,105 | +4.7% |
| Fixed assets | 21/28 | €152,080 | €94,543 | -€57,537 | -37.8% |
| Tangible fixed assets | 22/27 | €152,080 | €94,543 | -€57,537 | -37.8% |
| Land and buildings | 22 | €44,887 | €42,461 | -€2,427 | -5.4% |
| Plant, machinery and equipment | 23 | €48,046 | €27,302 | -€20,743 | -43.2% |
| Furniture and vehicles | 24 | €5,037 | €2,680 | -€2,357 | -46.8% |
| Leasing and similar rights | 25 | €54,110 | €22,100 | -€32,010 | -59.2% |
| Current assets | 29/58 | €279,494 | €357,136 | +€77,642 | +27.8% |
| Amounts receivable after more than one year | 29 | €35,000 | €42,000 | +€7,000 | +20.0% |
| Other amounts receivable | 291 | €35,000 | €42,000 | +€7,000 | +20.0% |
| Stocks and contracts in progress | 3 | €4,265 | €9,676 | +€5,410 | +126.8% |
| Stocks | 30/36 | €4,265 | €9,676 | +€5,410 | +126.8% |
| Amounts receivable within one year | 40/41 | €41,020 | €44,697 | +€3,677 | +9.0% |
| Trade receivables | 40 | €36,261 | €44,697 | +€8,436 | +23.3% |
| Other amounts receivable | 41 | €4,759 | - | -€4,759 | |
| Current investments | 50/53 | €35,000 | €35,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €162,191 | €223,004 | +€60,813 | +37.5% |
| Deferred charges and accrued income | 490/1 | €2,018 | €2,760 | +€742 | +36.8% |
| Total equity and liabilities | 10/49 | €431,574 | €451,679 | +€20,105 | +4.7% |
| Equity | 10/15 | €230,742 | €260,612 | +€29,870 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,142 | €242,012 | +€29,870 | +14.1% |
| Distributable reserves | 133 | €212,142 | €242,012 | +€29,870 | +14.1% |
| Amounts payable | 17/49 | €200,833 | €191,067 | -€9,765 | -4.9% |
| Amounts payable after more than one year | 17 | €143,717 | €106,634 | -€37,083 | -25.8% |
| Financial debts | 170/4 | €143,717 | €106,634 | -€37,083 | -25.8% |
| Amounts payable within one year | 42/48 | €56,406 | €83,724 | +€27,318 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €37,117 | €37,898 | +€781 | +2.1% |
| Trade debts | 44 | €350 | €2,250 | +€1,900 | +543.6% |
| Suppliers | 440/4 | €350 | €2,250 | +€1,900 | +543.6% |
| Taxes, remuneration and social security | 45 | €13,888 | €42,504 | +€28,616 | +206.1% |
| Taxes | 450/3 | €10,362 | €36,102 | +€25,740 | +248.4% |
| Remuneration and social security | 454/9 | €3,526 | €6,402 | +€2,876 | +81.6% |
| Other amounts payable | 47/48 | €5,051 | €1,072 | -€3,979 | -78.8% |
| Accrued charges and deferred income | 492/3 | €710 | €710 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €40,789 | €21,389 | -€19,400 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,567 | €60,562 | -€2,005 | -3.2% |
| Other operating charges | 640/8 | €1,343 | €1,508 | +€164 | +12.2% |
| Non-recurring operating charges | 66A | - | €106 | +€106 | |
| Gross operating margin | 9900 | €147,449 | €213,093 | +€65,644 | +44.5% |
| Operating profit (loss) | 9901 | €42,749 | €129,528 | +€86,779 | +203.0% |
| Financial income | 75/76B | €1,107 | €1,199 | +€92 | +8.3% |
| Recurring financial income | 75 | €1,107 | €1,199 | +€92 | +8.3% |
| Financial charges | 65/66B | €4,558 | €3,533 | -€1,025 | -22.5% |
| Recurring financial charges | 65 | €4,558 | €3,533 | -€1,025 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €39,298 | €127,194 | +€87,896 | +223.7% |
| Income taxes | 67/77 | €10,241 | €38,500 | +€28,260 | +276.0% |
| Profit (loss) for the period | 9904 | €29,058 | €88,694 | +€59,636 | +205.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,058 | €88,694 | +€59,636 | +205.2% |
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 9 October 2026 via checked.be.