SUPER 3: 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.
SUPER 3
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+63.9%), from €2.2m to €3.6m
of which Trade receivables: +€895,452
- Cash -€1.1m
down €1.1m (-91.0%), from €1.2m to €108,019
mainly Receivables within one year (-€1.4m) and Contributions, distributions and other (-€580,180)
- Current investments +€319,585
new in 2025: €319,585
- Tangible fixed assets -€59,430
down €59,430 (-11.7%), from €505,992 to €446,562
of which Plant, machinery and equipment: -€40,847
- Trade debts +€784,860
up €784,860 (+179.5%), from €437,304 to €1.2m
- Reserves -€320,000
down €320,000 (-10.7%), from €3.0m to €2.7m
of which Distributable reserves: -€320,000
- Current portion of long-term debt +€200,000
new in 2025: €200,000
- Other debts -€93,292
down €93,292 (-26.9%), from €346,401 to €253,109
- Gross operating margin -€1.3m
down €1.3m (-78.3%), from €1.7m to €369,409
- Taxes -€269,423
down €269,423 (-87.9%), from €306,530 to €37,107
- Write-downs -€123,347
down €123,347, from €52,611 to -€70,736
- Other operating charges +€72,661
up €72,661 (+1654.7%), from €4,391 to €77,052
- Financial charges -€48,796
down €48,796 (-54.8%), from €89,023 to €40,227
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 | €3,877,978 | €4,439,749 | +€561,771 | +14.5% |
| Fixed assets | 21/28 | €508,415 | €448,985 | -€59,430 | -11.7% |
| Tangible fixed assets | 22/27 | €505,992 | €446,562 | -€59,430 | -11.7% |
| Land and buildings | 22 | €308,684 | €294,953 | -€13,731 | -4.4% |
| Plant, machinery and equipment | 23 | €177,180 | €136,332 | -€40,847 | -23.1% |
| Furniture and vehicles | 24 | €20,128 | €15,277 | -€4,851 | -24.1% |
| Financial fixed assets | 28 | €2,423 | €2,423 | = | 0.0% |
| Current assets | 29/58 | €3,369,563 | €3,990,763 | +€621,200 | +18.4% |
| Amounts receivable within one year | 40/41 | €2,168,393 | €3,554,251 | +€1.4m | +63.9% |
| Trade receivables | 40 | €1,591,678 | €2,487,130 | +€895,452 | +56.3% |
| Other amounts receivable | 41 | €576,715 | €1,067,122 | +€490,406 | +85.0% |
| Current investments | 50/53 | - | €319,585 | +€319,585 | |
| Cash at bank and in hand | 54/58 | €1,198,693 | €108,019 | -€1.1m | -91.0% |
| Deferred charges and accrued income | 490/1 | €2,477 | €8,908 | +€6,431 | +259.7% |
| Total equity and liabilities | 10/49 | €3,877,978 | €4,439,749 | +€561,771 | +14.5% |
| Equity | 10/15 | €3,082,808 | €2,757,731 | -€325,077 | -10.5% |
| Contributions | 10/11 | €77,839 | €77,839 | = | 0.0% |
| Capital | 10 | €77,839 | €77,839 | = | 0.0% |
| Issued capital | 100 | €77,839 | €77,839 | = | 0.0% |
| Reserves | 13 | €2,997,234 | €2,677,234 | -€320,000 | -10.7% |
| Non-distributable reserves | 130/1 | €7,784 | €7,784 | = | 0.0% |
| Legal reserve | 130 | €7,784 | €7,784 | = | 0.0% |
| Tax-exempt reserves | 132 | €189,450 | €189,450 | = | 0.0% |
| Distributable reserves | 133 | €2,800,000 | €2,480,000 | -€320,000 | -11.4% |
| Profit (loss) carried forward | 14 | €7,736 | €2,659 | -€5,077 | -65.6% |
| Amounts payable | 17/49 | €795,170 | €1,682,018 | +€886,848 | +111.5% |
| Amounts payable within one year | 42/48 | €791,629 | €1,681,744 | +€890,115 | +112.4% |
| Current portion of amounts payable after more than one year | 42 | - | €200,000 | +€200,000 | |
| Financial debts | 43 | - | €414 | +€414 | |
| Credit institutions | 430/8 | - | €414 | +€414 | |
| Trade debts | 44 | €437,304 | €1,222,164 | +€784,860 | +179.5% |
| Suppliers | 440/4 | €437,304 | €1,222,164 | +€784,860 | +179.5% |
| Taxes, remuneration and social security | 45 | €7,924 | €6,056 | -€1,867 | -23.6% |
| Taxes | 450/3 | €7,924 | €6,056 | -€1,867 | -23.6% |
| Other amounts payable | 47/48 | €346,401 | €253,109 | -€93,292 | -26.9% |
| Accrued charges and deferred income | 492/3 | €3,541 | €274 | -€3,267 | -92.3% |
| Non-recurring operating income | 76A | €12,737 | €0 | -€12,737 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,901 | €60,652 | +€1,750 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,611 | -€70,736 | -€123,347 | |
| Other operating charges | 640/8 | €4,391 | €77,052 | +€72,661 | +1654.7% |
| Non-recurring operating charges | 66A | €14,632 | €0 | -€14,632 | -100.0% |
| Gross operating margin | 9900 | €1,703,660 | €369,409 | -€1.3m | -78.3% |
| Operating profit (loss) | 9901 | €1,573,124 | €302,441 | -€1.3m | -80.8% |
| Financial income | 75/76B | €39,533 | €29,996 | -€9,537 | -24.1% |
| Recurring financial income | 75 | €39,533 | €29,996 | -€9,537 | -24.1% |
| Financial charges | 65/66B | €89,023 | €40,227 | -€48,796 | -54.8% |
| Recurring financial charges | 65 | €89,023 | €40,227 | -€48,796 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €1,523,634 | €292,209 | -€1.2m | -80.8% |
| Income taxes | 67/77 | €306,530 | €37,107 | -€269,423 | -87.9% |
| Profit (loss) for the period | 9904 | €1,217,104 | €255,103 | -€962,002 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,217,104 | €255,103 | -€962,002 | -79.0% |
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.