SN14: 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.
SN14
Largest movements
- Receivables within one year +€114,255
up €114,255 (+3449.6%), from €3,312 to €117,567
of which Trade receivables: +€96,368
- Current investments +€42,254
up €42,254 (+120.7%), from €35,000 to €77,254
- Cash -€23,899
down €23,899 (-30.5%), from €78,245 to €54,346
mainly Receivables within one year (-€114,255) and Current investments (-€42,254)
- Reserves +€98,715
up €98,715 (+90.5%), from €109,068 to €207,782
- Tax, wage and social debts +€33,068
up €33,068 (+260.9%), from €12,677 to €45,745
- Gross operating margin +€73,108
up €73,108 (+122.7%), from €59,606 to €132,714
- Taxes +€18,343
up €18,343 (+135.4%), from €13,544 to €31,887
- Financial income +€1,524
up €1,524 (+1544.0%), from €99 to €1,623
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 | €124,681 | €256,076 | +€131,395 | +105.4% |
| Fixed assets | 21/28 | €6,380 | €4,754 | -€1,626 | -25.5% |
| Tangible fixed assets | 22/27 | €6,380 | €4,754 | -€1,626 | -25.5% |
| Furniture and vehicles | 24 | €6,380 | €4,754 | -€1,626 | -25.5% |
| Current assets | 29/58 | €118,301 | €251,322 | +€133,021 | +112.4% |
| Amounts receivable within one year | 40/41 | €3,312 | €117,567 | +€114,255 | +3449.6% |
| Trade receivables | 40 | €546 | €96,914 | +€96,368 | +17649.8% |
| Other amounts receivable | 41 | €2,766 | €20,653 | +€17,887 | +646.6% |
| Current investments | 50/53 | €35,000 | €77,254 | +€42,254 | +120.7% |
| Cash at bank and in hand | 54/58 | €78,245 | €54,346 | -€23,899 | -30.5% |
| Deferred charges and accrued income | 490/1 | €1,744 | €2,155 | +€410 | +23.5% |
| Total equity and liabilities | 10/49 | €124,681 | €256,076 | +€131,395 | +105.4% |
| Equity | 10/15 | €111,068 | €209,782 | +€98,715 | +88.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €109,068 | €207,782 | +€98,715 | +90.5% |
| Distributable reserves | 133 | €109,068 | €207,782 | +€98,715 | +90.5% |
| Amounts payable | 17/49 | €13,613 | €46,294 | +€32,680 | +240.1% |
| Amounts payable within one year | 42/48 | €13,613 | €46,294 | +€32,680 | +240.1% |
| Trade debts | 44 | €937 | €549 | -€387 | -41.4% |
| Suppliers | 440/4 | €937 | €549 | -€387 | -41.4% |
| Taxes, remuneration and social security | 45 | €12,677 | €45,745 | +€33,068 | +260.9% |
| Taxes | 450/3 | €12,677 | €45,745 | +€33,068 | +260.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,491 | €1,626 | +€135 | +9.1% |
| Other operating charges | 640/8 | €646 | €807 | +€161 | +24.9% |
| Gross operating margin | 9900 | €59,606 | €132,714 | +€73,108 | +122.7% |
| Operating profit (loss) | 9901 | €57,468 | €130,281 | +€72,812 | +126.7% |
| Financial income | 75/76B | €99 | €1,623 | +€1,524 | +1544.0% |
| Recurring financial income | 75 | €99 | €1,623 | +€1,524 | +1544.0% |
| Financial charges | 65/66B | €1,574 | €1,302 | -€271 | -17.2% |
| Recurring financial charges | 65 | €1,574 | €1,302 | -€271 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €55,994 | €130,601 | +€74,608 | +133.2% |
| Income taxes | 67/77 | €13,544 | €31,887 | +€18,343 | +135.4% |
| Profit (loss) for the period | 9904 | €42,450 | €98,715 | +€56,265 | +132.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,450 | €98,715 | +€56,265 | +132.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.