SRE&AM: 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.
SRE&AM
Largest movements
- Receivables within one year -€38,368
down €38,368 (-90.8%), from €42,255 to €3,887
- Tangible fixed assets -€14,996
down €14,996 (-3.9%), from €381,359 to €366,364
- Cash +€14,650
up €14,650 (+93.9%), from €15,605 to €30,255
mainly Trade debts (+€63,317) and Receivables within one year (+€38,368)
- Trade debts +€63,317
up €63,317, from €0 to €63,317
- Profit (loss) carried forward -€57,661
down €57,661, from €13,310 to -€44,351
- Reserves -€23,000
down €23,000 (-100.0%), from €23,000 to €0
of which Distributable reserves: -€15,000
- Debts after one year -€21,757
down €21,757 (-6.9%), from €313,741 to €291,984
- Gross operating margin -€90,457
down €90,457, from €60,201 to -€30,255
- Turnover -€70,281
down €70,281 (-98.9%), from €71,031 to €750
- Purchases and services +€20,176
up €20,176 (+186.3%), from €10,830 to €31,005
- Other operating charges -€4,456
down €4,456 (-87.4%), from €5,101 to €645
- Staff costs +€3,587
up €3,587 (+560.2%), from €640 to €4,227
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 | €451,419 | €412,706 | -€38,713 | -8.6% |
| Fixed assets | 21/28 | €393,559 | €378,564 | -€14,996 | -3.8% |
| Tangible fixed assets | 22/27 | €381,359 | €366,364 | -€14,996 | -3.9% |
| Land and buildings | 22 | €381,359 | €366,364 | -€14,996 | -3.9% |
| Financial fixed assets | 28 | €12,200 | €12,200 | = | 0.0% |
| Current assets | 29/58 | €57,860 | €34,142 | -€23,718 | -41.0% |
| Amounts receivable within one year | 40/41 | €42,255 | €3,887 | -€38,368 | -90.8% |
| Trade receivables | 40 | €42,255 | €3,887 | -€38,368 | -90.8% |
| Cash at bank and in hand | 54/58 | €15,605 | €30,255 | +€14,650 | +93.9% |
| Total equity and liabilities | 10/49 | €451,419 | €412,706 | -€38,713 | -8.6% |
| Equity | 10/15 | €116,310 | €35,649 | -€80,661 | -69.4% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €23,000 | €0 | -€23,000 | -100.0% |
| Non-distributable reserves | 130/1 | €8,000 | €0 | -€8,000 | -100.0% |
| Reserves not available under the articles | 1311 | €8,000 | €0 | -€8,000 | -100.0% |
| Distributable reserves | 133 | €15,000 | €0 | -€15,000 | -100.0% |
| Profit (loss) carried forward | 14 | €13,310 | -€44,351 | -€57,661 | |
| Amounts payable | 17/49 | €335,109 | €377,057 | +€41,948 | +12.5% |
| Amounts payable after more than one year | 17 | €313,741 | €291,984 | -€21,757 | -6.9% |
| Financial debts | 170/4 | €313,741 | €291,984 | -€21,757 | -6.9% |
| Amounts payable within one year | 42/48 | €21,369 | €85,074 | +€63,705 | +298.1% |
| Current portion of amounts payable after more than one year | 42 | €21,369 | €21,757 | +€388 | +1.8% |
| Trade debts | 44 | €0 | €63,317 | +€63,317 | |
| Suppliers | 440/4 | €0 | €63,317 | +€63,317 | |
| Turnover | 70 | €71,031 | €750 | -€70,281 | -98.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,830 | €31,005 | +€20,176 | +186.3% |
| Remuneration, social security and pensions | 62 | €640 | €4,227 | +€3,587 | +560.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,996 | €14,996 | = | 0.0% |
| Other operating charges | 640/8 | €5,101 | €645 | -€4,456 | -87.4% |
| Gross operating margin | 9900 | €60,201 | -€30,255 | -€90,457 | |
| Operating profit (loss) | 9901 | €39,464 | -€50,123 | -€89,588 | |
| Financial charges | 65/66B | €5,919 | €5,538 | -€381 | -6.4% |
| Recurring financial charges | 65 | €5,919 | €5,538 | -€381 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €33,545 | -€55,661 | -€89,207 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €33,545 | -€55,661 | -€89,207 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,545 | -€55,661 | -€89,207 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.