SNB MANAGEMENT: 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.
SNB MANAGEMENT
Largest movements
- Tangible fixed assets +€593,261
up €593,261 (+66.6%), from €891,399 to €1.5m
of which Land and buildings: +€597,066
- Current investments -€340,000
down €340,000 (-100.0%), from €340,000 to €0
- Cash -€157,935
down €157,935 (-86.2%), from €183,217 to €25,281
mainly Investment in fixed assets (net) (-€701,835) and Other debts (-€52,072)
- Reserves +€149,237
up €149,237 (+21.6%), from €692,055 to €841,292
- Other debts -€52,072
down €52,072 (-39.9%), from €130,452 to €78,381
- Provisions +€17,002
up €17,002 (+8.2%), from €208,322 to €225,324
- Depreciation +€73,086
up €73,086 (+202.9%), from €36,012 to €109,099
- Taxes -€39,299
down €39,299 (-35.4%), from €110,908 to €71,609
- Gross operating margin -€29,338
down €29,338 (-7.3%), from €399,745 to €370,407
- Other operating charges +€17,430
up €17,430 (+321.3%), from €5,425 to €22,855
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 | €1,516,742 | €1,627,372 | +€110,631 | +7.3% |
| Fixed assets | 21/28 | €892,347 | €1,485,084 | +€592,737 | +66.4% |
| Intangible fixed assets | 21 | €949 | €425 | -€524 | -55.2% |
| Tangible fixed assets | 22/27 | €891,399 | €1,484,659 | +€593,261 | +66.6% |
| Land and buildings | 22 | €869,758 | €1,466,825 | +€597,066 | +68.6% |
| Furniture and vehicles | 24 | €14,248 | €10,862 | -€3,386 | -23.8% |
| Other tangible fixed assets | 26 | €7,392 | €6,973 | -€420 | -5.7% |
| Current assets | 29/58 | €624,394 | €142,288 | -€482,106 | -77.2% |
| Amounts receivable within one year | 40/41 | €96,582 | €111,311 | +€14,729 | +15.3% |
| Trade receivables | 40 | €95,614 | €96,972 | +€1,358 | +1.4% |
| Other amounts receivable | 41 | €968 | €14,339 | +€13,371 | +1382.0% |
| Current investments | 50/53 | €340,000 | €0 | -€340,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €183,217 | €25,281 | -€157,935 | -86.2% |
| Deferred charges and accrued income | 490/1 | €4,596 | €5,696 | +€1,100 | +23.9% |
| Total equity and liabilities | 10/49 | €1,516,742 | €1,627,372 | +€110,631 | +7.3% |
| Equity | 10/15 | €1,093,324 | €1,242,560 | +€149,237 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €692,055 | €841,292 | +€149,237 | +21.6% |
| Distributable reserves | 133 | €692,055 | €841,292 | +€149,237 | +21.6% |
| Profit (loss) carried forward | 14 | €382,668 | €382,668 | = | 0.0% |
| Provisions and deferred taxes | 16 | €208,322 | €225,324 | +€17,002 | +8.2% |
| Provisions for liabilities and charges | 160/5 | €208,322 | €225,324 | +€17,002 | +8.2% |
| Environmental obligations | 163 | €208,322 | €225,324 | +€17,002 | +8.2% |
| Amounts payable | 17/49 | €215,096 | €159,488 | -€55,608 | -25.9% |
| Amounts payable within one year | 42/48 | €205,314 | €147,761 | -€57,553 | -28.0% |
| Trade debts | 44 | €8,700 | €15,960 | +€7,260 | +83.4% |
| Suppliers | 440/4 | €8,700 | €15,960 | +€7,260 | +83.4% |
| Taxes, remuneration and social security | 45 | €66,161 | €53,420 | -€12,741 | -19.3% |
| Taxes | 450/3 | €62,425 | €53,420 | -€9,005 | -14.4% |
| Remuneration and social security | 454/9 | €3,736 | €0 | -€3,736 | -100.0% |
| Other amounts payable | 47/48 | €130,452 | €78,381 | -€52,072 | -39.9% |
| Accrued charges and deferred income | 492/3 | €9,782 | €11,727 | +€1,945 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,012 | €109,099 | +€73,086 | +202.9% |
| Other operating charges | 640/8 | €5,425 | €22,855 | +€17,430 | +321.3% |
| Non-recurring operating charges | 66A | €1,680 | €1,705 | +€24 | +1.4% |
| Gross operating margin | 9900 | €399,745 | €370,407 | -€29,338 | -7.3% |
| Operating profit (loss) | 9901 | €356,628 | €236,750 | -€119,878 | -33.6% |
| Financial income | 75/76B | €7,963 | €8,967 | +€1,004 | +12.6% |
| Recurring financial income | 75 | €7,963 | €8,967 | +€1,004 | +12.6% |
| Financial charges | 65/66B | €19,752 | €21,671 | +€1,920 | +9.7% |
| Recurring financial charges | 65 | €19,752 | €21,671 | +€1,920 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €344,839 | €224,045 | -€120,794 | -35.0% |
| Income taxes | 67/77 | €110,908 | €71,609 | -€39,299 | -35.4% |
| Profit (loss) for the period | 9904 | €233,931 | €152,437 | -€81,494 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €233,931 | €152,437 | -€81,494 | -34.8% |
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.