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
- Tangible fixed assets -€44,313
down €44,313 (-8.2%), from €543,281 to €498,968
of which Land and buildings: -€23,981
- Cash +€23,236
up €23,236 (+190%), from €12,224 to €35,460
mainly Net result for the year (+€64,936) and Depreciation (+€44,313)
- Debts after one year -€95,000
down €95,000 (-12.9%), from €738,783 to €643,783
- Profit (loss) carried forward +€64,936
up €64,936 (+27.9%), from -€232,978 to -€168,042
- Gross operating margin +€35,214
up €35,214 (+43.5%), from €80,892 to €116,106
- Depreciation -€8,457
down €8,457 (-16.0%), from €52,770 to €44,313
- Financial charges +€2,413
up €2,413 (+271%), from €891 to €3,304
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 | €606,569 | €584,289 | -€22,280 | -3.7% |
| Fixed assets | 21/28 | €543,281 | €498,968 | -€44,313 | -8.2% |
| Tangible fixed assets | 22/27 | €543,281 | €498,968 | -€44,313 | -8.2% |
| Land and buildings | 22 | €484,507 | €460,526 | -€23,981 | -4.9% |
| Furniture and vehicles | 24 | €58,774 | €38,442 | -€20,332 | -34.6% |
| Current assets | 29/58 | €63,288 | €85,321 | +€22,033 | +34.8% |
| Amounts receivable within one year | 40/41 | €22,214 | €20,791 | -€1,422 | -6.4% |
| Trade receivables | 40 | €21,874 | €19,707 | -€2,167 | -9.9% |
| Other amounts receivable | 41 | €340 | €1,084 | +€744 | +219% |
| Current investments | 50/53 | €24,770 | €24,820 | +€50 | +0.2% |
| Cash at bank and in hand | 54/58 | €12,224 | €35,460 | +€23,236 | +190% |
| Deferred charges and accrued income | 490/1 | €4,080 | €4,249 | +€169 | +4.1% |
| Total equity and liabilities | 10/49 | €606,569 | €584,289 | -€22,280 | -3.7% |
| Equity | 10/15 | -€174,331 | -€109,395 | +€64,936 | +37.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €38,647 | €38,647 | = | 0.0% |
| Distributable reserves | 133 | €38,647 | €38,647 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€232,978 | -€168,042 | +€64,936 | +27.9% |
| Amounts payable | 17/49 | €780,900 | €693,684 | -€87,216 | -11.2% |
| Amounts payable after more than one year | 17 | €738,783 | €643,783 | -€95,000 | -12.9% |
| Financial debts | 170/4 | €738,783 | €643,783 | -€95,000 | -12.9% |
| Amounts payable within one year | 42/48 | €37,792 | €45,253 | +€7,462 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €2,394 | €3,786 | +€1,392 | +58.1% |
| Suppliers | 440/4 | €2,394 | €3,786 | +€1,392 | +58.1% |
| Taxes, remuneration and social security | 45 | €6,533 | €11,347 | +€4,814 | +73.7% |
| Taxes | 450/3 | €6,533 | €11,347 | +€4,814 | +73.7% |
| Other amounts payable | 47/48 | €8,865 | €10,121 | +€1,256 | +14.2% |
| Accrued charges and deferred income | 492/3 | €4,325 | €4,647 | +€322 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,770 | €44,313 | -€8,457 | -16.0% |
| Other operating charges | 640/8 | €4,582 | €4,609 | +€27 | +0.6% |
| Gross operating margin | 9900 | €80,892 | €116,106 | +€35,214 | +43.5% |
| Operating profit (loss) | 9901 | €23,540 | €67,184 | +€43,644 | +185% |
| Financial income | 75/76B | €1,087 | €1,056 | -€31 | -2.9% |
| Recurring financial income | 75 | €1,087 | €1,056 | -€31 | -2.9% |
| Financial charges | 65/66B | €891 | €3,304 | +€2,413 | +271% |
| Recurring financial charges | 65 | €891 | €3,304 | +€2,413 | +271% |
| Profit (loss) for the period before taxes | 9903 | €23,736 | €64,936 | +€41,200 | +174% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | €23,736 | €64,936 | +€41,200 | +174% |
| Profit (loss) for the period to be appropriated | 9905 | €23,736 | €64,936 | +€41,200 | +174% |
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 13 October 2026 via checked.be.