SRT: 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.
SRT
Largest movements
- Cash +€53,035
up €53,035 (+88.0%), from €60,298 to €113,333
mainly Net result for the year (+€112,156) and Other debts (+€41,590)
- Tangible fixed assets -€29,070
down €29,070 (-5.0%), from €584,618 to €555,549
of which Land and buildings: -€22,546
- Receivables within one year +€11,967
up €11,967 (+4.7%), from €253,403 to €265,370
of which Trade receivables: +€6,255
- Other debts +€41,590
up €41,590 (+818.3%), from €5,083 to €46,672
- Debts after one year -€27,773
down €27,773 (-7.2%), from €386,236 to €358,463
- Reserves +€12,156
up €12,156 (+2.6%), from €465,908 to €478,064
- Gross operating margin -€21,163
down €21,163 (-9.8%), from €215,294 to €194,132
- Taxes -€7,021
down €7,021 (-17.4%), from €40,432 to €33,412
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 | €904,623 | €934,952 | +€30,328 | +3.4% |
| Fixed assets | 21/28 | €584,618 | €555,549 | -€29,070 | -5.0% |
| Tangible fixed assets | 22/27 | €584,618 | €555,549 | -€29,070 | -5.0% |
| Land and buildings | 22 | €561,173 | €538,627 | -€22,546 | -4.0% |
| Plant, machinery and equipment | 23 | €3,456 | €1,479 | -€1,977 | -57.2% |
| Furniture and vehicles | 24 | €19,989 | €15,443 | -€4,546 | -22.7% |
| Current assets | 29/58 | €320,005 | €379,403 | +€59,398 | +18.6% |
| Amounts receivable within one year | 40/41 | €253,403 | €265,370 | +€11,967 | +4.7% |
| Trade receivables | 40 | €42,527 | €48,782 | +€6,255 | +14.7% |
| Other amounts receivable | 41 | €210,877 | €216,588 | +€5,712 | +2.7% |
| Cash at bank and in hand | 54/58 | €60,298 | €113,333 | +€53,035 | +88.0% |
| Deferred charges and accrued income | 490/1 | €6,304 | €700 | -€5,604 | -88.9% |
| Total equity and liabilities | 10/49 | €904,623 | €934,952 | +€30,328 | +3.4% |
| Equity | 10/15 | €468,908 | €481,064 | +€12,156 | +2.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €465,908 | €478,064 | +€12,156 | +2.6% |
| Distributable reserves | 133 | €465,908 | €478,064 | +€12,156 | +2.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €435,715 | €453,888 | +€18,172 | +4.2% |
| Amounts payable after more than one year | 17 | €386,236 | €358,463 | -€27,773 | -7.2% |
| Financial debts | 170/4 | €386,236 | €358,463 | -€27,773 | -7.2% |
| Amounts payable within one year | 42/48 | €46,479 | €95,424 | +€48,945 | +105.3% |
| Current portion of amounts payable after more than one year | 42 | €34,903 | €37,773 | +€2,870 | +8.2% |
| Trade debts | 44 | €5,904 | €10,979 | +€5,075 | +86.0% |
| Suppliers | 440/4 | €5,904 | €10,979 | +€5,075 | +86.0% |
| Taxes, remuneration and social security | 45 | €590 | €0 | -€590 | -100.0% |
| Taxes | 450/3 | €590 | €0 | -€590 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,083 | €46,672 | +€41,590 | +818.3% |
| Accrued charges and deferred income | 492/3 | €3,000 | €0 | -€3,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,518 | €29,924 | -€594 | -1.9% |
| Other operating charges | 640/8 | €3,466 | €3,389 | -€77 | -2.2% |
| Gross operating margin | 9900 | €215,294 | €194,132 | -€21,163 | -9.8% |
| Operating profit (loss) | 9901 | €181,310 | €160,819 | -€20,492 | -11.3% |
| Financial income | 75/76B | €43 | €0 | -€43 | -100.0% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100.0% |
| Financial charges | 65/66B | €15,331 | €15,251 | -€80 | -0.5% |
| Recurring financial charges | 65 | €15,331 | €15,251 | -€80 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €166,023 | €145,568 | -€20,455 | -12.3% |
| Income taxes | 67/77 | €40,432 | €33,412 | -€7,021 | -17.4% |
| Profit (loss) for the period | 9904 | €125,590 | €112,156 | -€13,434 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,590 | €112,156 | -€13,434 | -10.7% |
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 29 September 2026 via checked.be.