SRAE: 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.
SRAE
Largest movements
- Cash +€64,349
up €64,349 (+2539.9%), from €2,534 to €66,883
mainly Net result for the year (+€86,576) and Accrued charges and deferred income (+€4,514)
- Receivables within one year +€13,555
up €13,555 (+57.4%), from €23,604 to €37,160
of which Trade receivables: +€8,900
- Financial fixed assets -€8,355
down €8,355 (-100.0%), from €8,355 to €0
- Tangible fixed assets +€3,449
up €3,449 (+396.7%), from €869 to €4,318
of which Furniture and vehicles: +€3,641
- Deferred charges and accrued income +€2,029
new in 2025: €2,029
- Reserves +€73,644
up €73,644 (+440.2%), from €16,730 to €90,374
of which Distributable reserves: +€73,644
- Other debts -€18,381
down €18,381 (-99.9%), from €18,398 to €16
- Profit (loss) carried forward +€12,933
up €12,933, from -€12,933 to €0
- Accrued charges and deferred income +€4,514
new in 2025: €4,514
- Tax, wage and social debts +€1,451
up €1,451 (+35.4%), from €4,094 to €5,546
of which Taxes: +€1,451
- Financial income +€81,481
up €81,481 (+2734259.7%), from €3 to €81,484
of which Non-recurring financial income: +€81,484
- Gross operating margin -€14,179
down €14,179 (-64.5%), from €21,988 to €7,809
- Other operating charges -€3,022
down €3,022 (-81.0%), from €3,729 to €707
- Depreciation +€380
up €380 (+85.1%), from €447 to €827
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 | €35,386 | €110,402 | +€75,017 | +212.0% |
| Fixed assets | 21/28 | €9,248 | €4,331 | -€4,916 | -53.2% |
| Intangible fixed assets | 21 | €23 | €13 | -€10 | -42.6% |
| Tangible fixed assets | 22/27 | €869 | €4,318 | +€3,449 | +396.7% |
| Plant, machinery and equipment | 23 | €869 | €677 | -€192 | -22.1% |
| Furniture and vehicles | 24 | €0 | €3,641 | +€3,641 | |
| Financial fixed assets | 28 | €8,355 | €0 | -€8,355 | -100.0% |
| Current assets | 29/58 | €26,138 | €106,071 | +€79,933 | +305.8% |
| Amounts receivable within one year | 40/41 | €23,604 | €37,160 | +€13,555 | +57.4% |
| Trade receivables | 40 | €192 | €9,091 | +€8,900 | +4647.4% |
| Other amounts receivable | 41 | €23,413 | €28,068 | +€4,656 | +19.9% |
| Cash at bank and in hand | 54/58 | €2,534 | €66,883 | +€64,349 | +2539.9% |
| Deferred charges and accrued income | 490/1 | - | €2,029 | +€2,029 | |
| Total equity and liabilities | 10/49 | €35,386 | €110,402 | +€75,017 | +212.0% |
| Equity | 10/15 | €9,997 | €96,574 | +€86,576 | +866.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,730 | €90,374 | +€73,644 | +440.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €7,628 | €7,628 | = | 0.0% |
| Distributable reserves | 133 | €9,102 | €82,745 | +€73,644 | +809.1% |
| Profit (loss) carried forward | 14 | -€12,933 | €0 | +€12,933 | |
| Amounts payable | 17/49 | €25,388 | €13,829 | -€11,559 | -45.5% |
| Amounts payable within one year | 42/48 | €25,388 | €9,315 | -€16,073 | -63.3% |
| Trade debts | 44 | €2,896 | €3,754 | +€857 | +29.6% |
| Suppliers | 440/4 | €2,896 | €3,754 | +€857 | +29.6% |
| Taxes, remuneration and social security | 45 | €4,094 | €5,546 | +€1,451 | +35.4% |
| Taxes | 450/3 | €2,294 | €3,746 | +€1,451 | +63.3% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €18,398 | €16 | -€18,381 | -99.9% |
| Accrued charges and deferred income | 492/3 | - | €4,514 | +€4,514 | |
| Non-recurring operating income | 76A | - | €5,116 | +€5,116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €447 | €827 | +€380 | +85.1% |
| Other operating charges | 640/8 | €3,729 | €707 | -€3,022 | -81.0% |
| Non-recurring operating charges | 66A | €2,993 | €0 | -€2,993 | -100.0% |
| Gross operating margin | 9900 | €21,988 | €7,809 | -€14,179 | -64.5% |
| Operating profit (loss) | 9901 | €14,819 | €6,275 | -€8,544 | -57.7% |
| Financial income | 75/76B | €3 | €81,484 | +€81,481 | +2734259.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -93.0% |
| Non-recurring financial income | 76B | - | €81,484 | +€81,484 | |
| Financial charges | 65/66B | €1,092 | €978 | -€114 | -10.4% |
| Recurring financial charges | 65 | €1,092 | €978 | -€114 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €13,730 | €86,781 | +€73,051 | +532.1% |
| Income taxes | 67/77 | €88 | €204 | +€117 | +133.2% |
| Profit (loss) for the period | 9904 | €13,642 | €86,576 | +€72,934 | +534.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,642 | €86,576 | +€72,934 | +534.6% |
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 6 October 2026 via checked.be.