SRM Group: 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.
SRM Group
Largest movements
- Tangible fixed assets -€1.1m
down €1.1m (-70.5%), from €1.6m to €477,667
of which Land and buildings: -€1.3m
- Receivables within one year +€108,279
up €108,279 (+627.5%), from €17,256 to €125,535
of which Other amounts receivable: +€58,533
- Stocks and contracts +€69,001
up €69,001 (+6.9%), from €1.0m to €1.1m
- Cash -€41,031
down €41,031 (-70.0%), from €58,630 to €17,599
mainly Other debts (-€985,470) and Net result for the year (-€231,989)
- Other debts -€985,470
down €985,470 (-42.1%), from €2.3m to €1.4m
- Debts after one year +€235,826
new in 2024: €235,826
- Profit (loss) carried forward -€231,989
new in 2024: -€231,989
- Write-downs +€115,570
up €115,570 (+130.3%), from €88,684 to €204,254
- Gross operating margin -€83,062
down €83,062 (-65.0%), from €127,773 to €44,711
- Depreciation +€28,983
up €28,983 (+325.9%), from €8,892 to €37,875
- Financial charges +€5,948
up €5,948 (+30.8%), from €19,323 to €25,271
- Other operating charges +€2,323
up €2,323 (+34.7%), from €6,686 to €9,009
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,706,918 | €1,699,474 | -€1.0m | -37.2% |
| Fixed assets | 21/28 | €1,625,680 | €481,645 | -€1.1m | -70.4% |
| Tangible fixed assets | 22/27 | €1,621,702 | €477,667 | -€1.1m | -70.5% |
| Land and buildings | 22 | €1,590,430 | €289,500 | -€1.3m | -81.8% |
| Furniture and vehicles | 24 | €31,271 | €136,297 | +€105,026 | +335.9% |
| Other tangible fixed assets | 26 | - | €51,869 | +€51,869 | |
| Financial fixed assets | 28 | €3,978 | €3,978 | = | 0.0% |
| Current assets | 29/58 | €1,081,239 | €1,217,829 | +€136,590 | +12.6% |
| Stocks and contracts in progress | 3 | €1,000,717 | €1,069,718 | +€69,001 | +6.9% |
| Stocks | 30/36 | €1,000,717 | €1,069,718 | +€69,001 | +6.9% |
| Amounts receivable within one year | 40/41 | €17,256 | €125,535 | +€108,279 | +627.5% |
| Trade receivables | 40 | €16,581 | €66,328 | +€49,747 | +300.0% |
| Other amounts receivable | 41 | €675 | €59,208 | +€58,533 | +8671.1% |
| Cash at bank and in hand | 54/58 | €58,630 | €17,599 | -€41,031 | -70.0% |
| Deferred charges and accrued income | 490/1 | €4,636 | €4,977 | +€341 | +7.4% |
| Total equity and liabilities | 10/49 | €2,706,918 | €1,699,474 | -€1.0m | -37.2% |
| Equity | 10/15 | €303,031 | €71,042 | -€231,989 | -76.6% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €3,031 | €3,031 | = | 0.0% |
| Distributable reserves | 133 | €3,031 | €3,031 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€231,989 | -€231,989 | |
| Amounts payable | 17/49 | €2,403,888 | €1,628,432 | -€775,455 | -32.3% |
| Amounts payable after more than one year | 17 | - | €235,826 | +€235,826 | |
| Financial debts | 170/4 | - | €235,826 | +€235,826 | |
| Amounts payable within one year | 42/48 | €2,390,559 | €1,392,571 | -€997,989 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,174 | +€14,174 | |
| Trade debts | 44 | €29,305 | €14,327 | -€14,978 | -51.1% |
| Suppliers | 440/4 | €29,305 | €14,327 | -€14,978 | -51.1% |
| Taxes, remuneration and social security | 45 | €19,239 | €7,524 | -€11,715 | -60.9% |
| Taxes | 450/3 | €19,239 | €7,524 | -€11,715 | -60.9% |
| Other amounts payable | 47/48 | €2,342,015 | €1,356,545 | -€985,470 | -42.1% |
| Accrued charges and deferred income | 492/3 | €13,328 | €36 | -€13,292 | -99.7% |
| Non-recurring operating income | 76A | - | €27,576 | +€27,576 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,892 | €37,875 | +€28,983 | +325.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €88,684 | €204,254 | +€115,570 | +130.3% |
| Other operating charges | 640/8 | €6,686 | €9,009 | +€2,323 | +34.7% |
| Gross operating margin | 9900 | €127,773 | €44,711 | -€83,062 | -65.0% |
| Operating profit (loss) | 9901 | €23,511 | -€206,426 | -€229,937 | |
| Financial charges | 65/66B | €19,323 | €25,271 | +€5,948 | +30.8% |
| Recurring financial charges | 65 | €19,323 | €25,271 | +€5,948 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €4,188 | -€231,698 | -€235,885 | |
| Income taxes | 67/77 | €1,157 | €291 | -€865 | -74.8% |
| Profit (loss) for the period | 9904 | €3,031 | -€231,989 | -€235,020 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,031 | -€231,989 | -€235,020 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.