SZ. S.N.: 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.
SZ. S.N.
Largest movements
- Tangible fixed assets +€169,338
up €169,338 (+20.3%), from €833,498 to €1.0m
of which Land and buildings: +€171,384
- Cash +€19,346
up €19,346 (+111%), from €17,452 to €36,798
mainly Trade debts (+€193,617) and Net result for the year (+€13,208)
- Trade debts +€193,617
up €193,617 (+15,832%), from €1,223 to €194,840
- Debts after one year -€23,159
down €23,159 (-4.3%), from €534,637 to €511,478
- Profit (loss) carried forward +€13,208
up €13,208 (+22.9%), from €57,578 to €70,786
- Gross operating margin +€46,315
up €46,315 (+211%), from €21,946 to €68,261
- Other operating charges +€27,361
up €27,361 (+611%), from €4,480 to €31,841
- Financial charges +€8,874
up €8,874 (+104%), from €8,541 to €17,415
- Financial income +€5,049
new in 2025: €5,049
- Taxes +€2,957
new in 2025: €2,957
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 | €853,105 | €1,040,610 | +€187,505 | +22.0% |
| Fixed assets | 21/28 | €833,498 | €1,002,836 | +€169,338 | +20.3% |
| Tangible fixed assets | 22/27 | €833,498 | €1,002,836 | +€169,338 | +20.3% |
| Land and buildings | 22 | €803,458 | €974,842 | +€171,384 | +21.3% |
| Plant, machinery and equipment | 23 | €30,040 | €27,995 | -€2,046 | -6.8% |
| Current assets | 29/58 | €19,607 | €37,773 | +€18,166 | +92.7% |
| Cash at bank and in hand | 54/58 | €17,452 | €36,798 | +€19,346 | +111% |
| Deferred charges and accrued income | 490/1 | €2,155 | €975 | -€1,180 | -54.8% |
| Total equity and liabilities | 10/49 | €853,105 | €1,040,610 | +€187,505 | +22.0% |
| Equity | 10/15 | €92,074 | €105,282 | +€13,208 | +14.3% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,510 | €3,510 | = | 0.0% |
| Distributable reserves | 133 | €3,510 | €3,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,578 | €70,786 | +€13,208 | +22.9% |
| Amounts payable | 17/49 | €761,031 | €935,328 | +€174,297 | +22.9% |
| Amounts payable after more than one year | 17 | €534,637 | €511,478 | -€23,159 | -4.3% |
| Financial debts | 170/4 | €534,637 | €511,478 | -€23,159 | -4.3% |
| Amounts payable within one year | 42/48 | €222,688 | €420,795 | +€198,107 | +89.0% |
| Current portion of amounts payable after more than one year | 42 | €11,631 | €12,103 | +€472 | +4.1% |
| Financial debts | 43 | €490 | €490 | = | 0.0% |
| Other loans | 439 | €490 | €490 | = | 0.0% |
| Trade debts | 44 | €1,223 | €194,840 | +€193,617 | +15,832% |
| Suppliers | 440/4 | €1,223 | €194,840 | +€193,617 | +15,832% |
| Taxes, remuneration and social security | 45 | - | €2,957 | +€2,957 | |
| Taxes | 450/3 | - | €2,957 | +€2,957 | |
| Other amounts payable | 47/48 | €209,343 | €210,404 | +€1,061 | +0.5% |
| Accrued charges and deferred income | 492/3 | €3,706 | €3,054 | -€651 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,998 | €7,889 | +€891 | +12.7% |
| Other operating charges | 640/8 | €4,480 | €31,841 | +€27,361 | +611% |
| Gross operating margin | 9900 | €21,946 | €68,261 | +€46,315 | +211% |
| Operating profit (loss) | 9901 | €10,468 | €28,531 | +€18,063 | +173% |
| Financial income | 75/76B | - | €5,049 | +€5,049 | |
| Recurring financial income | 75 | - | €5,049 | +€5,049 | |
| Financial charges | 65/66B | €8,541 | €17,415 | +€8,874 | +104% |
| Recurring financial charges | 65 | €8,541 | €17,415 | +€8,874 | +104% |
| Profit (loss) for the period before taxes | 9903 | €1,927 | €16,165 | +€14,238 | +739% |
| Income taxes | 67/77 | - | €2,957 | +€2,957 | |
| Profit (loss) for the period | 9904 | €1,927 | €13,208 | +€11,281 | +585% |
| Profit (loss) for the period to be appropriated | 9905 | €1,927 | €13,208 | +€11,281 | +585% |
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 18 October 2026 via checked.be.