SRSG: 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.
SRSG
Largest movements
- Receivables within one year +€8,384
up €8,384 (+12.2%), from €68,608 to €76,993
of which Trade receivables: +€6,864
- Cash -€6,781
down €6,781 (-41.2%), from €16,465 to €9,684
mainly Receivables within one year (-€8,384) and Current portion of long-term debt (-€7,737)
- Deferred charges and accrued income -€6,511
down €6,511 (-87.9%), from €7,405 to €894
- Stocks and contracts -€1,886
down €1,886 (-7.1%), from €26,538 to €24,652
- Tangible fixed assets -€1,880
down €1,880 (-32.5%), from €5,781 to €3,901
of which Furniture and vehicles: -€1,399
- Current portion of long-term debt -€7,737
down €7,737 (-92.2%), from €8,390 to €653
- Trade debts -€3,032
down €3,032 (-6.5%), from €46,825 to €43,793
- Tax, wage and social debts +€2,905
up €2,905 (+38.2%), from €7,613 to €10,519
- Gross operating margin -€5,689
down €5,689 (-25.7%), from €22,139 to €16,450
- Depreciation -€4,074
down €4,074 (-68.4%), from €5,954 to €1,880
- Taxes -€2,911
down €2,911 (-35.3%), from €8,236 to €5,326
- Financial income -€1,212
down €1,212 (-98.0%), from €1,237 to €24
- Other operating charges +€383
up €383 (+57.2%), from €669 to €1,052
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 | €124,808 | €116,134 | -€8,674 | -6.9% |
| Fixed assets | 21/28 | €5,791 | €3,911 | -€1,880 | -32.5% |
| Tangible fixed assets | 22/27 | €5,781 | €3,901 | -€1,880 | -32.5% |
| Plant, machinery and equipment | 23 | €2,335 | €1,854 | -€481 | -20.6% |
| Furniture and vehicles | 24 | €3,446 | €2,047 | -€1,399 | -40.6% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €119,017 | €112,223 | -€6,794 | -5.7% |
| Stocks and contracts in progress | 3 | €26,538 | €24,652 | -€1,886 | -7.1% |
| Stocks | 30/36 | €26,538 | €24,652 | -€1,886 | -7.1% |
| Amounts receivable within one year | 40/41 | €68,608 | €76,993 | +€8,384 | +12.2% |
| Trade receivables | 40 | €57,410 | €64,274 | +€6,864 | +12.0% |
| Other amounts receivable | 41 | €11,198 | €12,719 | +€1,521 | +13.6% |
| Cash at bank and in hand | 54/58 | €16,465 | €9,684 | -€6,781 | -41.2% |
| Deferred charges and accrued income | 490/1 | €7,405 | €894 | -€6,511 | -87.9% |
| Total equity and liabilities | 10/49 | €124,808 | €116,134 | -€8,674 | -6.9% |
| Equity | 10/15 | €61,980 | €61,170 | -€810 | -1.3% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,620 | -€17,430 | -€810 | -4.9% |
| Amounts payable | 17/49 | €62,828 | €54,964 | -€7,864 | -12.5% |
| Amounts payable within one year | 42/48 | €62,828 | €54,964 | -€7,864 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €8,390 | €653 | -€7,737 | -92.2% |
| Trade debts | 44 | €46,825 | €43,793 | -€3,032 | -6.5% |
| Suppliers | 440/4 | €46,825 | €43,793 | -€3,032 | -6.5% |
| Taxes, remuneration and social security | 45 | €7,613 | €10,519 | +€2,905 | +38.2% |
| Taxes | 450/3 | €7,613 | €10,519 | +€2,905 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,954 | €1,880 | -€4,074 | -68.4% |
| Other operating charges | 640/8 | €669 | €1,052 | +€383 | +57.2% |
| Non-recurring operating charges | 66A | €5,766 | €8,240 | +€2,474 | +42.9% |
| Gross operating margin | 9900 | €22,139 | €16,450 | -€5,689 | -25.7% |
| Operating profit (loss) | 9901 | €9,751 | €5,280 | -€4,472 | -45.9% |
| Financial income | 75/76B | €1,237 | €24 | -€1,212 | -98.0% |
| Recurring financial income | 75 | €1,237 | €24 | -€1,212 | -98.0% |
| Financial charges | 65/66B | €959 | €788 | -€171 | -17.9% |
| Recurring financial charges | 65 | €959 | €788 | -€171 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €10,029 | €4,516 | -€5,513 | -55.0% |
| Income taxes | 67/77 | €8,236 | €5,326 | -€2,911 | -35.3% |
| Profit (loss) for the period | 9904 | €1,793 | -€810 | -€2,602 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,793 | -€810 | -€2,602 |
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 8 October 2026 via checked.be.