SRM INVEST: 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.
SRM INVEST
Largest movements
- Tangible fixed assets -€93,849
down €93,849 (-4.3%), from €2.2m to €2.1m
- Debts after one year -€128,883
down €128,883 (-6.8%), from €1.9m to €1.8m
- Reserves +€42,872
up €42,872 (+57.5%), from €74,599 to €117,471
- Tax, wage and social debts -€22,767
down €22,767 (-100%), from €22,767 to €0
- Gross operating margin -€4,801
down €4,801 (-2.5%), from €190,126 to €185,326
- Depreciation +€3,810
up €3,810 (+4.2%), from €90,040 to €93,849
- Taxes -€2,176
down €2,176 (-13.2%), from €16,467 to €14,291
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 | €2,239,758 | €2,134,538 | -€105,220 | -4.7% |
| Fixed assets | 21/28 | €2,196,617 | €2,102,768 | -€93,849 | -4.3% |
| Tangible fixed assets | 22/27 | €2,196,617 | €2,102,768 | -€93,849 | -4.3% |
| Land and buildings | 22 | €2,196,617 | €2,102,768 | -€93,849 | -4.3% |
| Current assets | 29/58 | €43,141 | €31,770 | -€11,371 | -26.4% |
| Amounts receivable within one year | 40/41 | - | €209 | +€209 | |
| Other amounts receivable | 41 | - | €209 | +€209 | |
| Cash at bank and in hand | 54/58 | €34,625 | €25,698 | -€8,927 | -25.8% |
| Deferred charges and accrued income | 490/1 | €8,515 | €5,863 | -€2,653 | -31.2% |
| Total equity and liabilities | 10/49 | €2,239,758 | €2,134,538 | -€105,220 | -4.7% |
| Equity | 10/15 | €199,599 | €242,471 | +€42,872 | +21.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €74,599 | €117,471 | +€42,872 | +57.5% |
| Distributable reserves | 133 | €74,599 | €117,471 | +€42,872 | +57.5% |
| Amounts payable | 17/49 | €2,040,159 | €1,892,067 | -€148,092 | -7.3% |
| Amounts payable after more than one year | 17 | €1,883,717 | €1,754,834 | -€128,883 | -6.8% |
| Financial debts | 170/4 | €1,883,717 | €1,754,834 | -€128,883 | -6.8% |
| Amounts payable within one year | 42/48 | €152,171 | €131,882 | -€20,289 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €127,404 | €128,883 | +€1,479 | +1.2% |
| Trade debts | 44 | €2,000 | €2,999 | +€999 | +49.9% |
| Suppliers | 440/4 | €2,000 | €2,999 | +€999 | +49.9% |
| Taxes, remuneration and social security | 45 | €22,767 | €0 | -€22,767 | -100% |
| Taxes | 450/3 | €22,767 | €0 | -€22,767 | -100% |
| Accrued charges and deferred income | 492/3 | €4,271 | €5,351 | +€1,080 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,040 | €93,849 | +€3,810 | +4.2% |
| Other operating charges | 640/8 | €10,410 | €10,736 | +€326 | +3.1% |
| Gross operating margin | 9900 | €190,126 | €185,326 | -€4,801 | -2.5% |
| Operating profit (loss) | 9901 | €89,677 | €80,740 | -€8,936 | -10.0% |
| Financial charges | 65/66B | €23,808 | €23,577 | -€231 | -1.0% |
| Recurring financial charges | 65 | €23,808 | €23,577 | -€231 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €65,868 | €57,163 | -€8,706 | -13.2% |
| Income taxes | 67/77 | €16,467 | €14,291 | -€2,176 | -13.2% |
| Profit (loss) for the period | 9904 | €49,401 | €42,872 | -€6,529 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,401 | €42,872 | -€6,529 | -13.2% |
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 28 October 2026 via checked.be.