SN PROPERTIES: 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 PROPERTIES
Largest movements
- Tangible fixed assets -€185,299
down €185,299 (-3.4%), from €5.4m to €5.2m
- Cash -€92,697
down €92,697 (-75.9%), from €122,173 to €29,476
mainly Current portion of long-term debt (-€210,926) and Other debts (-€149,452)
- Current portion of long-term debt -€210,926
down €210,926 (-17.4%), from €1.2m to €999,669
- Reserves +€200,700
up €200,700 (+23.3%), from €860,927 to €1.1m
of which Distributable reserves: +€200,700
- Other debts -€149,452
down €149,452 (-8.8%), from €1.7m to €1.6m
- Debts after one year -€106,306
down €106,306 (-5.4%), from €2.0m to €1.9m
- Financial charges -€28,756
down €28,756 (-12.0%), from €239,945 to €211,189
- Gross operating margin -€25,764
down €25,764 (-3.6%), from €712,150 to €686,385
- Depreciation +€17,592
up €17,592 (+10.5%), from €167,707 to €185,299
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 | €6,929,840 | €6,670,166 | -€259,674 | -3.7% |
| Fixed assets | 21/28 | €6,749,184 | €6,563,885 | -€185,299 | -2.7% |
| Intangible fixed assets | 21 | €1,338,000 | €1,338,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €5,411,184 | €5,225,885 | -€185,299 | -3.4% |
| Land and buildings | 22 | €5,411,184 | €5,225,885 | -€185,299 | -3.4% |
| Current assets | 29/58 | €180,655 | €106,281 | -€74,375 | -41.2% |
| Amounts receivable within one year | 40/41 | €45,783 | €63,616 | +€17,834 | +39.0% |
| Trade receivables | 40 | €45,783 | €63,616 | +€17,834 | +39.0% |
| Cash at bank and in hand | 54/58 | €122,173 | €29,476 | -€92,697 | -75.9% |
| Deferred charges and accrued income | 490/1 | €12,699 | €13,188 | +€489 | +3.8% |
| Total equity and liabilities | 10/49 | €6,929,840 | €6,670,166 | -€259,674 | -3.7% |
| Equity | 10/15 | €2,000,300 | €2,203,020 | +€202,720 | +10.1% |
| Contributions | 10/11 | €163,860 | €163,860 | = | 0.0% |
| Outside capital | 11 | €163,860 | €163,860 | = | 0.0% |
| Other | 1109/19 | €163,860 | €163,860 | = | 0.0% |
| Reserves | 13 | €860,927 | €1,061,627 | +€200,700 | +23.3% |
| Tax-exempt reserves | 132 | €44,341 | €44,341 | = | 0.0% |
| Distributable reserves | 133 | €816,586 | €1,017,286 | +€200,700 | +24.6% |
| Profit (loss) carried forward | 14 | €975,513 | €977,533 | +€2,020 | +0.2% |
| Amounts payable | 17/49 | €4,929,540 | €4,467,146 | -€462,394 | -9.4% |
| Amounts payable after more than one year | 17 | €1,974,511 | €1,868,206 | -€106,306 | -5.4% |
| Financial debts | 170/4 | €1,974,511 | €1,868,206 | -€106,306 | -5.4% |
| Amounts payable within one year | 42/48 | €2,940,655 | €2,581,654 | -€359,001 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €1,210,595 | €999,669 | -€210,926 | -17.4% |
| Trade debts | 44 | - | €428 | +€428 | |
| Suppliers | 440/4 | - | €428 | +€428 | |
| Taxes, remuneration and social security | 45 | €27,160 | €28,109 | +€948 | +3.5% |
| Taxes | 450/3 | €27,160 | €28,109 | +€948 | +3.5% |
| Other amounts payable | 47/48 | €1,702,900 | €1,553,448 | -€149,452 | -8.8% |
| Accrued charges and deferred income | 492/3 | €14,374 | €17,287 | +€2,912 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,707 | €185,299 | +€17,592 | +10.5% |
| Other operating charges | 640/8 | €1,068 | €1,098 | +€31 | +2.9% |
| Gross operating margin | 9900 | €712,150 | €686,385 | -€25,764 | -3.6% |
| Operating profit (loss) | 9901 | €543,375 | €499,988 | -€43,387 | -8.0% |
| Financial charges | 65/66B | €239,945 | €211,189 | -€28,756 | -12.0% |
| Recurring financial charges | 65 | €239,945 | €211,189 | -€28,756 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €303,430 | €288,798 | -€14,632 | -4.8% |
| Income taxes | 67/77 | €91,013 | €86,078 | -€4,935 | -5.4% |
| Profit (loss) for the period | 9904 | €212,417 | €202,720 | -€9,697 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €212,417 | €202,720 | -€9,697 | -4.6% |
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.