SRS: 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.
SRS
Largest movements
- Receivables within one year +€30,770
up €30,770 (+34.7%), from €88,561 to €119,331
of which Trade receivables: +€48,907
- Tangible fixed assets -€14,893
down €14,893 (-2.7%), from €557,539 to €542,647
of which Furniture and vehicles: -€37,060
- Other debts +€112,757
up €112,757 (+614.1%), from €18,361 to €131,117
- Reserves -€69,213
down €69,213 (-21.0%), from €328,907 to €259,694
- Debts after one year -€49,554
down €49,554 (-14.5%), from €340,966 to €291,412
- Trade debts +€14,417
up €14,417 (+29787.4%), from €48 to €14,465
- Gross operating margin +€124,966
up €124,966 (+66.5%), from €187,962 to €312,928
- Taxes +€20,084
up €20,084 (+47.8%), from €42,001 to €62,085
- Depreciation +€11,864
up €11,864 (+23.4%), from €50,623 to €62,486
- Other operating charges -€11,137
down €11,137 (-65.3%), from €17,046 to €5,910
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 | €782,564 | €798,933 | +€16,369 | +2.1% |
| Fixed assets | 21/28 | €557,539 | €542,647 | -€14,893 | -2.7% |
| Tangible fixed assets | 22/27 | €557,539 | €542,647 | -€14,893 | -2.7% |
| Land and buildings | 22 | €328,573 | €336,281 | +€7,708 | +2.3% |
| Plant, machinery and equipment | 23 | €1,017 | €750 | -€267 | -26.3% |
| Furniture and vehicles | 24 | €159,235 | €122,175 | -€37,060 | -23.3% |
| Other tangible fixed assets | 26 | €68,714 | €83,441 | +€14,727 | +21.4% |
| Current assets | 29/58 | €225,025 | €256,287 | +€31,262 | +13.9% |
| Amounts receivable within one year | 40/41 | €88,561 | €119,331 | +€30,770 | +34.7% |
| Trade receivables | 40 | €60,000 | €108,907 | +€48,907 | +81.5% |
| Other amounts receivable | 41 | €28,561 | €10,424 | -€18,137 | -63.5% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,388 | €104,601 | +€212 | +0.2% |
| Deferred charges and accrued income | 490/1 | €2,076 | €2,355 | +€279 | +13.4% |
| Total equity and liabilities | 10/49 | €782,564 | €798,933 | +€16,369 | +2.1% |
| Equity | 10/15 | €347,507 | €278,294 | -€69,213 | -19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,907 | €259,694 | -€69,213 | -21.0% |
| Distributable reserves | 133 | €328,907 | €259,694 | -€69,213 | -21.0% |
| Amounts payable | 17/49 | €435,057 | €520,639 | +€85,582 | +19.7% |
| Amounts payable after more than one year | 17 | €340,966 | €291,412 | -€49,554 | -14.5% |
| Financial debts | 170/4 | €340,966 | €291,412 | -€49,554 | -14.5% |
| Amounts payable within one year | 42/48 | €94,091 | €229,228 | +€135,136 | +143.6% |
| Current portion of amounts payable after more than one year | 42 | €47,890 | €49,554 | +€1,664 | +3.5% |
| Trade debts | 44 | €48 | €14,465 | +€14,417 | +29787.4% |
| Suppliers | 440/4 | €48 | €14,465 | +€14,417 | +29787.4% |
| Taxes, remuneration and social security | 45 | €27,792 | €34,091 | +€6,298 | +22.7% |
| Taxes | 450/3 | €27,792 | €34,091 | +€6,298 | +22.7% |
| Other amounts payable | 47/48 | €18,361 | €131,117 | +€112,757 | +614.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,623 | €62,486 | +€11,864 | +23.4% |
| Other operating charges | 640/8 | €17,046 | €5,910 | -€11,137 | -65.3% |
| Gross operating margin | 9900 | €187,962 | €312,928 | +€124,966 | +66.5% |
| Operating profit (loss) | 9901 | €120,293 | €244,532 | +€124,239 | +103.3% |
| Financial income | 75/76B | €2 | €505 | +€503 | +20952.9% |
| Recurring financial income | 75 | €2 | €505 | +€503 | +20952.9% |
| Financial charges | 65/66B | €12,391 | €11,871 | -€520 | -4.2% |
| Recurring financial charges | 65 | €12,391 | €11,871 | -€520 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €107,905 | €233,167 | +€125,261 | +116.1% |
| Income taxes | 67/77 | €42,001 | €62,085 | +€20,084 | +47.8% |
| Profit (loss) for the period | 9904 | €65,904 | €171,081 | +€105,177 | +159.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,904 | €171,081 | +€105,177 | +159.6% |
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 11 October 2026 via checked.be.