SRMS: 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.
SRMS
Largest movements
- Cash +€112,666
up €112,666 (+61.6%), from €182,774 to €295,441
mainly Other debts (+€313,754) and Net result for the year (+€110,215)
- Current investments -€53,000
no longer reported in 2025 (was €53,000)
- Receivables within one year -€32,809
down €32,809 (-55.6%), from €59,016 to €26,207
of which Trade receivables: -€37,689
- Other debts +€313,754
up €313,754 (+31151.8%), from €1,007 to €314,762
- Profit (loss) carried forward -€248,069
down €248,069 (-99.7%), from €248,704 to €635
- Advances received -€23,604
no longer reported in 2025 (was €23,604)
- Trade debts -€19,730
down €19,730 (-90.6%), from €21,778 to €2,048
- Gross operating margin +€12,846
up €12,846 (+9.9%), from €129,611 to €142,458
- Taxes +€3,240
up €3,240 (+11.7%), from €27,630 to €30,870
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 | €311,454 | €334,702 | +€23,248 | +7.5% |
| Fixed assets | 21/28 | €14,855 | €12,625 | -€2,230 | -15.0% |
| Tangible fixed assets | 22/27 | €14,855 | €12,625 | -€2,230 | -15.0% |
| Land and buildings | 22 | €13,712 | €11,997 | -€1,715 | -12.5% |
| Furniture and vehicles | 24 | €1,143 | €627 | -€516 | -45.1% |
| Current assets | 29/58 | €296,599 | €322,078 | +€25,478 | +8.6% |
| Amounts receivable within one year | 40/41 | €59,016 | €26,207 | -€32,809 | -55.6% |
| Trade receivables | 40 | €57,635 | €19,947 | -€37,689 | -65.4% |
| Other amounts receivable | 41 | €1,380 | €6,260 | +€4,880 | +353.6% |
| Current investments | 50/53 | €53,000 | - | -€53,000 | |
| Cash at bank and in hand | 54/58 | €182,774 | €295,441 | +€112,666 | +61.6% |
| Deferred charges and accrued income | 490/1 | €1,809 | €430 | -€1,380 | -76.2% |
| Total equity and liabilities | 10/49 | €311,454 | €334,702 | +€23,248 | +7.5% |
| Equity | 10/15 | €255,704 | €7,635 | -€248,069 | -97.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €248,704 | €635 | -€248,069 | -99.7% |
| Amounts payable | 17/49 | €55,750 | €327,067 | +€271,317 | +486.7% |
| Amounts payable within one year | 42/48 | €55,746 | €327,067 | +€271,321 | +486.7% |
| Trade debts | 44 | €21,778 | €2,048 | -€19,730 | -90.6% |
| Suppliers | 440/4 | €21,778 | €2,048 | -€19,730 | -90.6% |
| Advances received on contracts in progress | 46 | €23,604 | - | -€23,604 | |
| Taxes, remuneration and social security | 45 | €9,356 | €10,257 | +€901 | +9.6% |
| Taxes | 450/3 | €9,356 | €10,257 | +€901 | +9.6% |
| Other amounts payable | 47/48 | €1,007 | €314,762 | +€313,754 | +31151.8% |
| Accrued charges and deferred income | 492/3 | €4 | - | -€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,230 | €2,230 | = | 0.0% |
| Other operating charges | 640/8 | €193 | €182 | -€10 | -5.4% |
| Gross operating margin | 9900 | €129,611 | €142,458 | +€12,846 | +9.9% |
| Operating profit (loss) | 9901 | €127,189 | €140,045 | +€12,857 | +10.1% |
| Financial income | 75/76B | €2,744 | €2,433 | -€311 | -11.3% |
| Recurring financial income | 75 | €2,744 | €1,514 | -€1,230 | -44.8% |
| Non-recurring financial income | 76B | - | €919 | +€919 | |
| Financial charges | 65/66B | €1,410 | €1,393 | -€16 | -1.2% |
| Recurring financial charges | 65 | €1,410 | €1,393 | -€16 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €128,523 | €141,086 | +€12,562 | +9.8% |
| Income taxes | 67/77 | €27,630 | €30,870 | +€3,240 | +11.7% |
| Profit (loss) for the period | 9904 | €100,893 | €110,215 | +€9,322 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €100,893 | €110,215 | +€9,322 | +9.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.