SRG & ASSOCIATES: 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.
SRG & ASSOCIATES
Largest movements
- Tangible fixed assets +€16,500
up €16,500 (+143%), from €11,546 to €28,046
of which Furniture and vehicles: +€19,444
- Cash -€9,198
down €9,198 (-18.2%), from €50,592 to €41,394
mainly Investment in fixed assets (net) (-€20,082) and Net result for the year (-€5,253)
- Receivables within one year +€3,778
up €3,778 (+61.5%), from €6,141 to €9,919
of which Trade receivables: +€3,778
- Deferred charges and accrued income +€2,355
up €2,355 (+88.0%), from €2,677 to €5,032
- Debts after one year +€12,652
new in 2025: €12,652
- Current portion of long-term debt +€6,326
new in 2025: €6,326
- Profit (loss) carried forward -€5,253
down €5,253 (-15.3%), from €34,284 to €29,031
- Other debts +€3,997
up €3,997 (+71.7%), from €5,574 to €9,572
- Tax, wage and social debts -€3,414
down €3,414 (-59.6%), from €5,730 to €2,317
- Gross operating margin +€27,547
up €27,547, from -€24,689 to €2,858
- Depreciation -€1,118
down €1,118 (-23.8%), from €4,701 to €3,582
- Taxes +€723
up €723, from -€22 to €701
- Other operating charges +€533
up €533 (+20.2%), from €2,645 to €3,178
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 | €70,957 | €84,392 | +€13,435 | +18.9% |
| Fixed assets | 21/28 | €11,546 | €28,046 | +€16,500 | +143% |
| Tangible fixed assets | 22/27 | €11,546 | €28,046 | +€16,500 | +143% |
| Furniture and vehicles | 24 | €1,433 | €20,877 | +€19,444 | +1,357% |
| Other tangible fixed assets | 26 | €10,114 | €7,169 | -€2,945 | -29.1% |
| Current assets | 29/58 | €59,411 | €56,346 | -€3,065 | -5.2% |
| Amounts receivable within one year | 40/41 | €6,141 | €9,919 | +€3,778 | +61.5% |
| Trade receivables | 40 | €1,264 | €5,042 | +€3,778 | +299% |
| Other amounts receivable | 41 | €4,877 | €4,877 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €50,592 | €41,394 | -€9,198 | -18.2% |
| Deferred charges and accrued income | 490/1 | €2,677 | €5,032 | +€2,355 | +88.0% |
| Total equity and liabilities | 10/49 | €70,957 | €84,392 | +€13,435 | +18.9% |
| Equity | 10/15 | €54,744 | €49,491 | -€5,253 | -9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €34,284 | €29,031 | -€5,253 | -15.3% |
| Amounts payable | 17/49 | €16,213 | €34,901 | +€18,688 | +115% |
| Amounts payable after more than one year | 17 | - | €12,652 | +€12,652 | |
| Financial debts | 170/4 | - | €12,652 | +€12,652 | |
| Amounts payable within one year | 42/48 | €12,600 | €18,214 | +€5,614 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,326 | +€6,326 | |
| Trade debts | 44 | €1,296 | - | -€1,296 | |
| Suppliers | 440/4 | €1,296 | - | -€1,296 | |
| Taxes, remuneration and social security | 45 | €5,730 | €2,317 | -€3,414 | -59.6% |
| Taxes | 450/3 | €5,730 | €2,317 | -€3,414 | -59.6% |
| Other amounts payable | 47/48 | €5,574 | €9,572 | +€3,997 | +71.7% |
| Accrued charges and deferred income | 492/3 | €3,613 | €4,035 | +€422 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,701 | €3,582 | -€1,118 | -23.8% |
| Other operating charges | 640/8 | €2,645 | €3,178 | +€533 | +20.2% |
| Gross operating margin | 9900 | -€24,689 | €2,858 | +€27,547 | |
| Operating profit (loss) | 9901 | -€32,034 | -€3,902 | +€28,132 | +87.8% |
| Financial charges | 65/66B | €620 | €650 | +€30 | +4.8% |
| Recurring financial charges | 65 | €620 | €650 | +€30 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€32,655 | -€4,552 | +€28,102 | +86.1% |
| Income taxes | 67/77 | -€22 | €701 | +€723 | |
| Profit (loss) for the period | 9904 | -€32,633 | -€5,253 | +€27,380 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,633 | -€5,253 | +€27,380 | +83.9% |
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 19 October 2026 via checked.be.