SRB: 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.
SRB
Largest movements
- Financial fixed assets +€306,450
up €306,450 (+239.3%), from €128,050 to €434,500
- Deferred charges and accrued income -€19,660
down €19,660 (-92.5%), from €21,250 to €1,590
- Cash +€17,835
up €17,835 (+16.1%), from €110,988 to €128,823
mainly Other debts (+€220,723) and Debts after one year (+€204,895)
- Other debts +€220,723
new in 2025: €220,723
- Debts after one year +€204,895
up €204,895 (+1038.3%), from €19,733 to €224,628
- Reserves -€181,640
down €181,640 (-72.1%), from €251,853 to €70,213
- Tax, wage and social debts +€34,010
up €34,010 (+229.2%), from €14,837 to €48,847
- Current portion of long-term debt +€30,083
up €30,083 (+115.6%), from €26,018 to €56,101
- Gross operating margin +€14,814
up €14,814 (+15.9%), from €93,142 to €107,956
- Financial charges +€3,431
up €3,431 (+268.7%), from €1,277 to €4,708
- Taxes -€3,311
down €3,311 (-9.2%), from €36,097 to €32,787
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 | €319,470 | €625,114 | +€305,644 | +95.7% |
| Fixed assets | 21/28 | €131,541 | €436,270 | +€304,729 | +231.7% |
| Tangible fixed assets | 22/27 | €3,491 | €1,770 | -€1,721 | -49.3% |
| Furniture and vehicles | 24 | €3,491 | €1,770 | -€1,721 | -49.3% |
| Financial fixed assets | 28 | €128,050 | €434,500 | +€306,450 | +239.3% |
| Current assets | 29/58 | €187,929 | €188,844 | +€915 | +0.5% |
| Amounts receivable after more than one year | 29 | €31,571 | €32,719 | +€1,148 | +3.6% |
| Other amounts receivable | 291 | €31,571 | €32,719 | +€1,148 | +3.6% |
| Amounts receivable within one year | 40/41 | €24,121 | €25,713 | +€1,592 | +6.6% |
| Trade receivables | 40 | €8,297 | €25,713 | +€17,415 | +209.9% |
| Other amounts receivable | 41 | €15,824 | - | -€15,824 | |
| Cash at bank and in hand | 54/58 | €110,988 | €128,823 | +€17,835 | +16.1% |
| Deferred charges and accrued income | 490/1 | €21,250 | €1,590 | -€19,660 | -92.5% |
| Total equity and liabilities | 10/49 | €319,470 | €625,114 | +€305,644 | +95.7% |
| Equity | 10/15 | €253,353 | €71,713 | -€181,640 | -71.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €251,853 | €70,213 | -€181,640 | -72.1% |
| Distributable reserves | 133 | €251,853 | €70,213 | -€181,640 | -72.1% |
| Amounts payable | 17/49 | €66,118 | €553,402 | +€487,284 | +737.0% |
| Amounts payable after more than one year | 17 | €19,733 | €224,628 | +€204,895 | +1038.3% |
| Financial debts | 170/4 | €19,733 | €224,628 | +€204,895 | +1038.3% |
| Amounts payable within one year | 42/48 | €46,385 | €328,774 | +€282,389 | +608.8% |
| Current portion of amounts payable after more than one year | 42 | €26,018 | €56,101 | +€30,083 | +115.6% |
| Trade debts | 44 | €5,529 | €3,103 | -€2,426 | -43.9% |
| Suppliers | 440/4 | €5,529 | €3,103 | -€2,426 | -43.9% |
| Taxes, remuneration and social security | 45 | €14,837 | €48,847 | +€34,010 | +229.2% |
| Taxes | 450/3 | €14,837 | €48,847 | +€34,010 | +229.2% |
| Other amounts payable | 47/48 | - | €220,723 | +€220,723 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,410 | €1,721 | -€689 | -28.6% |
| Other operating charges | 640/8 | €847 | €677 | -€170 | -20.1% |
| Non-recurring operating charges | 66A | €1,713 | - | -€1,713 | |
| Gross operating margin | 9900 | €93,142 | €107,956 | +€14,814 | +15.9% |
| Operating profit (loss) | 9901 | €88,172 | €105,559 | +€17,386 | +19.7% |
| Financial income | 75/76B | €19,415 | €20,327 | +€913 | +4.7% |
| Recurring financial income | 75 | €19,415 | €20,327 | +€913 | +4.7% |
| Financial charges | 65/66B | €1,277 | €4,708 | +€3,431 | +268.7% |
| Recurring financial charges | 65 | €1,277 | €4,708 | +€3,431 | +268.7% |
| Profit (loss) for the period before taxes | 9903 | €106,310 | €121,178 | +€14,868 | +14.0% |
| Income taxes | 67/77 | €36,097 | €32,787 | -€3,311 | -9.2% |
| Profit (loss) for the period | 9904 | €70,213 | €88,391 | +€18,178 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,213 | €88,391 | +€18,178 | +25.9% |
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.