SR&M's: what changed
Two financial 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&M's
Largest movements
- Receivables within one year +€15,819
up €15,819 (+37.3%), from €42,421 to €58,240
of which Other amounts receivable: +€10,859
- Cash +€5,984
up €5,984 (+4.5%), from €132,239 to €138,223
mainly Net result for the year (+€50,679) and Tax, wage and social debts (+€25,755)
- Tax, wage and social debts +€25,755
up €25,755 (+519%), from €4,965 to €30,720
of which Taxes: +€24,123
- Trade debts -€16,545
down €16,545 (-31.9%), from €51,902 to €35,357
- Reserves +€12,558
up €12,558 (+16.1%), from €77,865 to €90,423
of which Distributable reserves: +€12,558
- Gross operating margin +€50,822
up €50,822 (+172%), from €29,504 to €80,326
- Taxes +€15,066
up €15,066 (+126%), from €11,934 to €27,000
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.
Derived cash bridge
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 | €177,254 | €198,945 | +€21,691 | +12.2% |
| Fixed assets | 21/28 | €1,733 | €1,059 | -€674 | -38.9% |
| Tangible fixed assets | 22/27 | €1,708 | €1,034 | -€674 | -39.5% |
| Plant, machinery and equipment | 23 | €1,708 | €1,034 | -€674 | -39.5% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €175,521 | €197,887 | +€22,365 | +12.7% |
| Amounts receivable within one year | 40/41 | €42,421 | €58,240 | +€15,819 | +37.3% |
| Trade receivables | 40 | €40,340 | €45,300 | +€4,960 | +12.3% |
| Other amounts receivable | 41 | €2,081 | €12,941 | +€10,859 | +522% |
| Cash at bank and in hand | 54/58 | €132,239 | €138,223 | +€5,984 | +4.5% |
| Deferred charges and accrued income | 490/1 | €861 | €1,424 | +€563 | +65.3% |
| Total equity and liabilities | 10/49 | €177,254 | €198,945 | +€21,691 | +12.2% |
| Equity | 10/15 | €84,065 | €96,623 | +€12,558 | +14.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,865 | €90,423 | +€12,558 | +16.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €77,865 | €90,423 | +€12,558 | +16.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,189 | €102,322 | +€9,133 | +9.8% |
| Amounts payable within one year | 42/48 | €93,189 | €102,292 | +€9,103 | +9.8% |
| Trade debts | 44 | €51,902 | €35,357 | -€16,545 | -31.9% |
| Suppliers | 440/4 | €51,902 | €35,357 | -€16,545 | -31.9% |
| Taxes, remuneration and social security | 45 | €4,965 | €30,720 | +€25,755 | +519% |
| Taxes | 450/3 | €4,965 | €29,088 | +€24,123 | +486% |
| Remuneration and social security | 454/9 | €0 | €1,631 | +€1,631 | |
| Other amounts payable | 47/48 | €36,322 | €36,215 | -€106 | -0.3% |
| Accrued charges and deferred income | 492/3 | - | €30 | +€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €674 | €674 | = | 0.0% |
| Other operating charges | 640/8 | €917 | €883 | -€35 | -3.8% |
| Gross operating margin | 9900 | €29,504 | €80,326 | +€50,822 | +172% |
| Operating profit (loss) | 9901 | €27,912 | €78,769 | +€50,857 | +182% |
| Financial income | 75/76B | €76 | €341 | +€264 | +346% |
| Recurring financial income | 75 | €76 | €341 | +€264 | +346% |
| Financial charges | 65/66B | €815 | €1,429 | +€615 | +75.4% |
| Recurring financial charges | 65 | €815 | €1,429 | +€615 | +75.4% |
| Profit (loss) for the period before taxes | 9903 | €27,174 | €77,680 | +€50,506 | +186% |
| Income taxes | 67/77 | €11,934 | €27,000 | +€15,066 | +126% |
| Profit (loss) for the period | 9904 | €15,239 | €50,679 | +€35,440 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €15,239 | €50,679 | +€35,440 | +233% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.