SN CONCEPT: 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.
SN CONCEPT
Largest movements
- Cash +€1.2m
up €1.2m (+1056.8%), from €113,676 to €1.3m
mainly Stocks and contracts (+€660,567) and Advances received (+€419,849)
- Stocks and contracts -€660,567
down €660,567 (-66.8%), from €988,211 to €327,644
of which Contracts in progress: -€560,531
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€98,998
up €98,998 (+50.0%), from €197,986 to €296,985
of which Other amounts receivable: +€118,608
- Advances received +€419,849
new in 2025: €419,849
- Reserves +€306,300
up €306,300 (+1401.2%), from €21,860 to €328,160
of which Distributable reserves: +€180,000
- Trade debts +€151,107
up €151,107 (+136.3%), from €110,880 to €261,987
- Short-term financial debts -€105,261
down €105,261 (-99.9%), from €105,324 to €63
- Current portion of long-term debt -€83,170
down €83,170 (-54.7%), from €152,170 to €69,000
- Gross operating margin +€394,754
up €394,754 (+130.4%), from €302,765 to €697,519
- Write-downs +€101,704
new in 2025: €101,704
- Taxes +€92,053
up €92,053 (+148.0%), from €62,184 to €154,237
- Other operating charges +€24,995
up €24,995 (+2478.4%), from €1,009 to €26,004
- Financial charges -€24,294
down €24,294 (-60.8%), from €39,982 to €15,688
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 | €1,713,454 | €2,457,762 | +€744,308 | +43.4% |
| Fixed assets | 21/28 | €402,747 | €408,121 | +€5,374 | +1.3% |
| Intangible fixed assets | 21 | - | €2,864 | +€2,864 | |
| Tangible fixed assets | 22/27 | €375,600 | €372,324 | -€3,276 | -0.9% |
| Land and buildings | 22 | €363,051 | €345,281 | -€17,770 | -4.9% |
| Plant, machinery and equipment | 23 | €7,317 | €6,723 | -€594 | -8.1% |
| Furniture and vehicles | 24 | €5,233 | €20,320 | +€15,088 | +288.3% |
| Financial fixed assets | 28 | €27,147 | €32,933 | +€5,786 | +21.3% |
| Current assets | 29/58 | €1,310,707 | €2,049,641 | +€738,934 | +56.4% |
| Stocks and contracts in progress | 3 | €988,211 | €327,644 | -€660,567 | -66.8% |
| Stocks | 30/36 | €100,035 | - | -€100,035 | |
| Contracts in progress | 37 | €888,175 | €327,644 | -€560,531 | -63.1% |
| Amounts receivable within one year | 40/41 | €197,986 | €296,985 | +€98,998 | +50.0% |
| Trade receivables | 40 | €44,304 | €24,695 | -€19,610 | -44.3% |
| Other amounts receivable | 41 | €153,682 | €272,290 | +€118,608 | +77.2% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €113,676 | €1,315,015 | +€1.2m | +1056.8% |
| Deferred charges and accrued income | 490/1 | €10,834 | €9,997 | -€837 | -7.7% |
| Total equity and liabilities | 10/49 | €1,713,454 | €2,457,762 | +€744,308 | +43.4% |
| Equity | 10/15 | €866,311 | €1,224,661 | +€358,350 | +41.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,860 | €328,160 | +€306,300 | +1401.2% |
| Tax-exempt reserves | 132 | - | €126,300 | +€126,300 | |
| Distributable reserves | 133 | €21,860 | €201,860 | +€180,000 | +823.4% |
| Profit (loss) carried forward | 14 | €815,839 | €868,416 | +€52,577 | +6.4% |
| Investment grants | 15 | €10,012 | €9,485 | -€527 | -5.3% |
| Amounts payable | 17/49 | €847,144 | €1,233,101 | +€385,958 | +45.6% |
| Amounts payable after more than one year | 17 | €217,756 | €189,789 | -€27,967 | -12.8% |
| Financial debts | 170/4 | €217,756 | €189,789 | -€27,967 | -12.8% |
| Amounts payable within one year | 42/48 | €478,607 | €892,531 | +€413,924 | +86.5% |
| Current portion of amounts payable after more than one year | 42 | €152,170 | €69,000 | -€83,170 | -54.7% |
| Financial debts | 43 | €105,324 | €63 | -€105,261 | -99.9% |
| Credit institutions | 430/8 | €105,324 | €63 | -€105,261 | -99.9% |
| Trade debts | 44 | €110,880 | €261,987 | +€151,107 | +136.3% |
| Suppliers | 440/4 | €110,880 | €261,987 | +€151,107 | +136.3% |
| Advances received on contracts in progress | 46 | - | €419,849 | +€419,849 | |
| Taxes, remuneration and social security | 45 | €98,144 | €91,603 | -€6,541 | -6.7% |
| Taxes | 450/3 | €98,144 | €91,603 | -€6,541 | -6.7% |
| Other amounts payable | 47/48 | €12,088 | €50,028 | +€37,940 | +313.9% |
| Accrued charges and deferred income | 492/3 | €150,781 | €150,781 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,785 | €25,954 | +€2,170 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €101,704 | +€101,704 | |
| Other operating charges | 640/8 | €1,009 | €26,004 | +€24,995 | +2478.4% |
| Gross operating margin | 9900 | €302,765 | €697,519 | +€394,754 | +130.4% |
| Operating profit (loss) | 9901 | €277,972 | €543,857 | +€265,885 | +95.7% |
| Financial income | 75/76B | €2,322 | €4,945 | +€2,623 | +113.0% |
| Recurring financial income | 75 | €2,322 | €4,945 | +€2,623 | +113.0% |
| Financial charges | 65/66B | €39,982 | €15,688 | -€24,294 | -60.8% |
| Recurring financial charges | 65 | €39,982 | €15,688 | -€24,294 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €240,311 | €533,114 | +€292,803 | +121.8% |
| Income taxes | 67/77 | €62,184 | €154,237 | +€92,053 | +148.0% |
| Profit (loss) for the period | 9904 | €178,127 | €378,877 | +€200,750 | +112.7% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €178,127 | €252,577 | +€74,450 | +41.8% |
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 7 October 2026 via checked.be.