SRE Belgium: 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 Belgium
Largest movements
- Cash -€257,403
down €257,403 (-87.8%), from €293,327 to €35,925
mainly Investment in fixed assets (net) (-€175,072) and Current investments (-€171,000)
- Tangible fixed assets +€173,840
new in 2025: €173,840
- Current investments +€171,000
new in 2025: €171,000
- Receivables within one year -€7,026
no longer reported in 2025 (was €7,026)
- Debts after one year +€148,481
new in 2025: €148,481
- Other debts -€72,108
down €72,108 (-49.7%), from €144,987 to €72,879
- Current portion of long-term debt +€8,852
new in 2025: €8,852
- Profit (loss) carried forward -€4,126
down €4,126 (-3.6%), from €115,366 to €111,240
- Gross operating margin -€51,670
down €51,670, from €49,831 to -€1,839
- Taxes -€9,574
no longer reported in 2025 (was €9,574)
- Financial charges -€9,519
down €9,519 (-94.7%), from €10,047 to €528
- Depreciation +€1,231
new in 2025: €1,231
- Financial income -€538
no longer reported in 2025 (was €538)
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 | €300,353 | €381,452 | +€81,100 | +27.0% |
| Fixed assets | 21/28 | - | €173,840 | +€173,840 | |
| Tangible fixed assets | 22/27 | - | €173,840 | +€173,840 | |
| Land and buildings | 22 | - | €173,840 | +€173,840 | |
| Current assets | 29/58 | €300,353 | €207,612 | -€92,741 | -30.9% |
| Amounts receivable within one year | 40/41 | €7,026 | - | -€7,026 | |
| Other amounts receivable | 41 | €7,026 | - | -€7,026 | |
| Current investments | 50/53 | - | €171,000 | +€171,000 | |
| Cash at bank and in hand | 54/58 | €293,327 | €35,925 | -€257,403 | -87.8% |
| Deferred charges and accrued income | 490/1 | - | €687 | +€687 | |
| Total equity and liabilities | 10/49 | €300,353 | €381,452 | +€81,100 | +27.0% |
| Equity | 10/15 | €155,366 | €151,240 | -€4,126 | -2.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,366 | €111,240 | -€4,126 | -3.6% |
| Amounts payable | 17/49 | €144,987 | €230,212 | +€85,225 | +58.8% |
| Amounts payable after more than one year | 17 | - | €148,481 | +€148,481 | |
| Financial debts | 170/4 | - | €148,481 | +€148,481 | |
| Amounts payable within one year | 42/48 | €144,987 | €81,732 | -€63,255 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,852 | +€8,852 | |
| Other amounts payable | 47/48 | €144,987 | €72,879 | -€72,108 | -49.7% |
| Non-recurring operating income | 76A | €47,518 | - | -€47,518 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,231 | +€1,231 | |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | €1,512 | - | -€1,512 | |
| Gross operating margin | 9900 | €49,831 | -€1,839 | -€51,670 | |
| Operating profit (loss) | 9901 | €47,806 | -€3,598 | -€51,404 | |
| Financial income | 75/76B | €538 | - | -€538 | |
| Recurring financial income | 75 | €538 | - | -€538 | |
| Financial charges | 65/66B | €10,047 | €528 | -€9,519 | -94.7% |
| Recurring financial charges | 65 | €10,047 | €528 | -€9,519 | -94.7% |
| Profit (loss) for the period before taxes | 9903 | €38,297 | -€4,126 | -€42,423 | |
| Income taxes | 67/77 | €9,574 | - | -€9,574 | |
| Profit (loss) for the period | 9904 | €28,723 | -€4,126 | -€32,849 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,723 | -€4,126 | -€32,849 |
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 27 October 2026 via checked.be.