The S&C: 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.
The S&C
Largest movements
- Tangible fixed assets -€37,134
down €37,134 (-26.9%), from €138,091 to €100,958
of which Furniture and vehicles: -€19,127
- Receivables within one year -€5,099
down €5,099 (-25.7%), from €19,843 to €14,743
of which Other amounts receivable: -€2,585
- Deferred charges and accrued income +€1,989
up €1,989 (+239%), from €831 to €2,820
- Profit (loss) carried forward -€39,923
down €39,923 (-43.2%), from -€92,405 to -€132,328
- Other debts +€17,947
up €17,947 (+26.5%), from €67,720 to €85,667
- Debts after one year -€9,666
down €9,666 (-44.7%), from €21,635 to €11,969
- Trade debts -€5,648
down €5,648 (-20.1%), from €28,152 to €22,504
- Tax, wage and social debts +€4,770
up €4,770 (+16.8%), from €28,402 to €33,173
of which Remuneration and social security: +€3,310
- Staff costs +€14,060
up €14,060 (+20.7%), from €68,040 to €82,101
- Gross operating margin +€10,633
up €10,633 (+9.6%), from €110,213 to €120,846
- Depreciation +€4,188
up €4,188 (+7.2%), from €58,268 to €62,455
- Financial charges +€2,911
up €2,911 (+30.0%), from €9,717 to €12,628
- Other operating charges -€2,130
down €2,130 (-36.7%), from €5,812 to €3,682
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 | €163,161 | €123,474 | -€39,687 | -24.3% |
| Fixed assets | 21/28 | €141,887 | €104,012 | -€37,875 | -26.7% |
| Intangible fixed assets | 21 | €3,796 | €3,054 | -€742 | -19.5% |
| Tangible fixed assets | 22/27 | €138,091 | €100,958 | -€37,134 | -26.9% |
| Plant, machinery and equipment | 23 | €8,715 | €6,114 | -€2,601 | -29.8% |
| Furniture and vehicles | 24 | €93,392 | €74,266 | -€19,127 | -20.5% |
| Leasing and similar rights | 25 | €35,983 | €20,578 | -€15,406 | -42.8% |
| Current assets | 29/58 | €21,273 | €19,462 | -€1,812 | -8.5% |
| Amounts receivable within one year | 40/41 | €19,843 | €14,743 | -€5,099 | -25.7% |
| Trade receivables | 40 | €17,048 | €14,533 | -€2,514 | -14.7% |
| Other amounts receivable | 41 | €2,795 | €210 | -€2,585 | -92.5% |
| Current investments | 50/53 | €600 | €1,700 | +€1,100 | +183% |
| Cash at bank and in hand | 54/58 | - | €198 | +€198 | |
| Deferred charges and accrued income | 490/1 | €831 | €2,820 | +€1,989 | +239% |
| Total equity and liabilities | 10/49 | €163,161 | €123,474 | -€39,687 | -24.3% |
| Equity | 10/15 | -€72,243 | -€112,166 | -€39,923 | -55.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €19,163 | €19,163 | = | 0.0% |
| Distributable reserves | 133 | €19,163 | €19,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,405 | -€132,328 | -€39,923 | -43.2% |
| Amounts payable | 17/49 | €235,403 | €235,639 | +€236 | +0.1% |
| Amounts payable after more than one year | 17 | €21,635 | €11,969 | -€9,666 | -44.7% |
| Financial debts | 170/4 | €21,635 | €11,969 | -€9,666 | -44.7% |
| Amounts payable within one year | 42/48 | €213,381 | €223,270 | +€9,890 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €14,298 | €9,666 | -€4,632 | -32.4% |
| Financial debts | 43 | €74,808 | €72,260 | -€2,548 | -3.4% |
| Credit institutions | 430/8 | €74,808 | €72,260 | -€2,548 | -3.4% |
| Trade debts | 44 | €28,152 | €22,504 | -€5,648 | -20.1% |
| Suppliers | 440/4 | €28,152 | €22,504 | -€5,648 | -20.1% |
| Taxes, remuneration and social security | 45 | €28,402 | €33,173 | +€4,770 | +16.8% |
| Taxes | 450/3 | €18,975 | €20,435 | +€1,460 | +7.7% |
| Remuneration and social security | 454/9 | €9,428 | €12,738 | +€3,310 | +35.1% |
| Other amounts payable | 47/48 | €67,720 | €85,667 | +€17,947 | +26.5% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Remuneration, social security and pensions | 62 | €68,040 | €82,101 | +€14,060 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,268 | €62,455 | +€4,188 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €240 | - | -€240 | |
| Other operating charges | 640/8 | €5,812 | €3,682 | -€2,130 | -36.7% |
| Gross operating margin | 9900 | €110,213 | €120,846 | +€10,633 | +9.6% |
| Operating profit (loss) | 9901 | -€22,147 | -€27,392 | -€5,245 | -23.7% |
| Financial income | 75/76B | €1,058 | €97 | -€960 | -90.8% |
| Recurring financial income | 75 | €1,058 | €97 | -€960 | -90.8% |
| Financial charges | 65/66B | €9,717 | €12,628 | +€2,911 | +30.0% |
| Recurring financial charges | 65 | €9,717 | €12,628 | +€2,911 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,806 | -€39,923 | -€9,117 | -29.6% |
| Profit (loss) for the period | 9904 | -€30,806 | -€39,923 | -€9,117 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,806 | -€39,923 | -€9,117 | -29.6% |
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 30 October 2026 via checked.be.