SR&CO: 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.
SR&CO
Largest movements
- Stocks and contracts +€59,268
up €59,268 (+312.4%), from €18,972 to €78,240
- Cash -€30,564
down €30,564 (-65.7%), from €46,512 to €15,948
mainly Stocks and contracts (-€59,268) and Trade debts (-€8,188)
- Tangible fixed assets -€21,729
down €21,729 (-28.0%), from €77,535 to €55,806
of which Furniture and vehicles: -€21,249
- Intangible fixed assets -€7,200
no longer reported in 2025 (was €7,200)
- Receivables within one year +€1,531
new in 2025: €1,531
- Tax, wage and social debts +€13,377
up €13,377 (+71.2%), from €18,787 to €32,164
of which Remuneration and social security: +€18,556
- Profit (loss) carried forward +€9,940
up €9,940 (+73.0%), from €13,612 to €23,552
- Trade debts -€8,188
down €8,188 (-15.3%), from €53,389 to €45,201
- Other debts -€8,000
down €8,000 (-14.8%), from €54,000 to €46,000
- Debts after one year -€5,823
down €5,823 (-83.6%), from €6,966 to €1,144
- Staff costs -€22,310
down €22,310 (-17.3%), from €128,905 to €106,595
- Gross operating margin -€19,041
down €19,041 (-10.9%), from €175,074 to €156,033
- Other operating charges +€4,419
up €4,419 (+315.3%), from €1,402 to €5,820
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 | €151,255 | €152,561 | +€1,306 | +0.9% |
| Fixed assets | 21/28 | €85,771 | €56,842 | -€28,929 | -33.7% |
| Intangible fixed assets | 21 | €7,200 | - | -€7,200 | |
| Tangible fixed assets | 22/27 | €77,535 | €55,806 | -€21,729 | -28.0% |
| Plant, machinery and equipment | 23 | €480 | - | -€480 | |
| Furniture and vehicles | 24 | €77,055 | €55,806 | -€21,249 | -27.6% |
| Financial fixed assets | 28 | €1,036 | €1,036 | = | 0.0% |
| Current assets | 29/58 | €65,484 | €95,719 | +€30,235 | +46.2% |
| Stocks and contracts in progress | 3 | €18,972 | €78,240 | +€59,268 | +312.4% |
| Stocks | 30/36 | €18,972 | €78,240 | +€59,268 | +312.4% |
| Amounts receivable within one year | 40/41 | - | €1,531 | +€1,531 | |
| Other amounts receivable | 41 | - | €1,531 | +€1,531 | |
| Cash at bank and in hand | 54/58 | €46,512 | €15,948 | -€30,564 | -65.7% |
| Total equity and liabilities | 10/49 | €151,255 | €152,561 | +€1,306 | +0.9% |
| Equity | 10/15 | €18,112 | €28,052 | +€9,940 | +54.9% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,612 | €23,552 | +€9,940 | +73.0% |
| Amounts payable | 17/49 | €133,143 | €124,509 | -€8,634 | -6.5% |
| Amounts payable after more than one year | 17 | €6,966 | €1,144 | -€5,823 | -83.6% |
| Financial debts | 170/4 | €6,966 | €1,144 | -€5,823 | -83.6% |
| Amounts payable within one year | 42/48 | €126,177 | €123,365 | -€2,812 | -2.2% |
| Trade debts | 44 | €53,389 | €45,201 | -€8,188 | -15.3% |
| Suppliers | 440/4 | €53,389 | €45,201 | -€8,188 | -15.3% |
| Taxes, remuneration and social security | 45 | €18,787 | €32,164 | +€13,377 | +71.2% |
| Taxes | 450/3 | €10,583 | €5,404 | -€5,179 | -48.9% |
| Remuneration and social security | 454/9 | €8,204 | €26,760 | +€18,556 | +226.2% |
| Other amounts payable | 47/48 | €54,000 | €46,000 | -€8,000 | -14.8% |
| Non-recurring operating income | 76A | - | €20,800 | +€20,800 | |
| Remuneration, social security and pensions | 62 | €128,905 | €106,595 | -€22,310 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,254 | €28,886 | -€1,369 | -4.5% |
| Other operating charges | 640/8 | €1,402 | €5,820 | +€4,419 | +315.3% |
| Gross operating margin | 9900 | €175,074 | €156,033 | -€19,041 | -10.9% |
| Operating profit (loss) | 9901 | €14,513 | €14,732 | +€219 | +1.5% |
| Financial charges | 65/66B | €519 | €815 | +€295 | +56.9% |
| Recurring financial charges | 65 | €519 | €815 | +€295 | +56.9% |
| Profit (loss) for the period before taxes | 9903 | €13,994 | €13,917 | -€76 | -0.5% |
| Income taxes | 67/77 | €1,550 | €2,485 | +€935 | +60.3% |
| Profit (loss) for the period | 9904 | €12,444 | €11,432 | -€1,011 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,444 | €11,432 | -€1,011 | -8.1% |
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 6 October 2026 via checked.be.