SIAG
InactiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-02-2026 PDF all 30 filings
Turnover
≈ €210,000
Estimated: probably between €140,000 and €360,000
EBIT margin
Not included in this filing
Net result
€50,062▼ 29.1%
2024 · €70,600
Working capital
€452,377▲ 14.4%
2024 · €395,602
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€61,671
▼ 36.4%
2025
20182025
Net result
€50,062
▼ 29.1%
2025
20182025
Equity
€452,407
▲ 12.4%
2025
20182025
Total assets
€454,237
▲ 10.0%
2025
20182025
Debt
€1,830
▼ 82.6%
2025
20182025
Working capital
€452,377
▲ 14.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€8,932-€23,839▲ 167%€42,191▲ 77.0%€46,616▲ 10.5%€47,185▲ 1.2%€64,285▲ 36.2%€97,037▲ 50.9%€61,671▼ 36.4%
Net result€5,018-€15,102▲ 201%€28,648▲ 89.7%€33,088▲ 15.5%€33,045▼ 0.1%€42,319▲ 28.1%€70,600▲ 66.8%€50,062▼ 29.1%
Equity€179,544-€194,646▲ 8.4%€223,294▲ 14.7%€256,382▲ 14.8%€289,427▲ 12.9%€331,746▲ 14.6%€402,345▲ 21.3%€452,407▲ 12.4%
Total assets€182,361-€197,691▲ 8.4%€238,681▲ 20.7%€272,798▲ 14.3%€304,987▲ 11.8%€353,086▲ 15.8%€412,869▲ 16.9%€454,237▲ 10.0%
Debt€2,817-€3,045▲ 8.1%€15,387▲ 405%€16,416▲ 6.7%€15,560▼ 5.2%€21,340▲ 37.1%€10,524▼ 50.7%€1,830▼ 82.6%
Working capital€167,032-€183,957▲ 10.1%€180,069▼ 2.1%€222,411▲ 23.5%€262,094▲ 17.8%€314,895▲ 20.1%€395,602▲ 25.6%€452,377▲ 14.4%
The operating result for 2025 is 36% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €454,237
Fixed assets
€50 ▼ 99.3%
Current assets
€454,187 ▲ 11.8%
Equity and liabilities €454,237
Equity
€452,407 ▲ 12.4%
Debt
€1,830 ▼ 82.6%
Debt's share of the balance-sheet total falls from 2.5% to 0.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€68,328▼
2024 · €107,144
Cash flow
€56,719▼
2024 · €80,706
Debt to equity
0.00▼
2024 · 0.03
ROE
11.1%▼
2024 · 17.5%
ROA
11.0%▼
2024 · 17.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€1,811▼
2024 · €10,524
Income taxes
€20,561▼
2024 · €28,640
A ratio outside any meaningful range has been withheld (balance sheet total €454,237, equity €452,407).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,261 | €3,561 | - | - | - |
| Depreciation and write-downs of the year | €10,516 | €10,199 | €10,482 | €10,107 | €6,657 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €1,235 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,636 | €6,283 | €10,703 | €10,516 | €10,199 | €10,482 | €10,107 | €6,657 | ▼ 34.1% |
| Other operating charges640/8 | - | - | - | €1,392 | €864 | €948 | €973 | €1,064 | ▲ 9.4% |
| Gross operating margin9900 | €16,925 | €31,650 | €55,749 | €58,523 | €58,248 | €75,715 | €108,117 | €69,393 | ▼ 35.8% |
| Operating profit (loss)9901 | €8,932 | €23,839 | €42,191 | €46,616 | €47,185 | €64,285 | €97,037 | €61,671 | ▼ 36.4% |
| Financial income75/76B | - | - | - | €66 | €73 | €622 | €2,482 | €9,288 | ▲ 274% |
| Recurring financial income75 | €137 | €105 | €28 | €66 | €73 | €622 | €2,482 | €9,288 | ▲ 274% |
| Financial charges65/66B | - | - | - | €368 | €277 | €310 | €280 | €336 | ▲ 20.1% |
| Recurring financial charges65 | €412 | €477 | €415 | €368 | €277 | €310 | €280 | €336 | ▲ 20.1% |
| Profit (loss) for the period before taxes9903 | €8,657 | €23,467 | €41,804 | €46,314 | €46,980 | €64,597 | €99,240 | €70,623 | ▼ 28.8% |
| Income taxes67/77 | €3,640 | €8,364 | €13,156 | €13,226 | €13,935 | €22,278 | €28,640 | €20,561 | ▼ 28.2% |
| Profit (loss) for the period9904 | €5,018 | €15,102 | €28,648 | €33,088 | €33,045 | €42,319 | €70,600 | €50,062 | ▼ 29.1% |
| Profit (loss) for the period to be appropriated9905 | €5,018 | €15,102 | €28,648 | €33,088 | €33,045 | €42,319 | €70,600 | €50,062 | ▼ 29.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €182,361 | €197,691 | €238,681 | €272,798 | €304,987 | €353,086 | €412,869 | €454,237 | ▲ 10.0% |
| Fixed assets21/28 | €12,512 | €10,689 | €43,226 | €33,971 | €27,333 | €16,850 | €6,744 | €50 | ▼ 99.3% |
| Tangible fixed assets22/27 | €12,425 | €10,602 | €43,139 | €33,884 | €27,246 | €16,764 | €6,657 | - | - |
| Furniture and vehicles24 | - | - | - | €33,884 | €27,246 | €16,764 | €6,657 | - | - |
| Financial fixed assets28 | €87 | €87 | €87 | €87 | €87 | €87 | €87 | €50 | ▼ 42.9% |
| Current assets29/58 | €169,849 | €187,002 | €195,456 | €238,827 | €277,654 | €336,235 | €406,126 | €454,187 | ▲ 11.8% |
| Amounts receivable within one year40/41 | €46,369 | €44,258 | €23,388 | €21,152 | €42,820 | €17,279 | €13,953 | €3,700 | ▼ 73.5% |
| Trade receivables40 | - | - | - | €21,152 | €42,820 | €17,123 | €13,953 | €54 | ▼ 99.6% |
| Other amounts receivable41 | - | - | - | - | - | €156 | - | €3,646 | - |
| Cash at bank and in hand54/58 | €110,322 | €128,712 | €157,343 | €203,773 | €221,241 | €316,616 | €389,539 | €446,146 | ▲ 14.5% |
| Deferred charges and accrued income490/1 | - | - | - | €13,903 | €13,593 | €2,340 | €2,634 | €4,341 | ▲ 64.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €182,361 | €197,691 | €238,681 | €272,798 | €304,987 | €353,086 | €412,869 | €454,237 | ▲ 10.0% |
| Equity10/15 | €179,544 | €194,646 | €223,294 | €256,382 | €289,427 | €331,746 | €402,345 | €452,407 | ▲ 12.4% |
| Contributions10/11 | €6,197 | €6,197 | - | €6,197 | €6,197 | €8,057 | €8,057 | €8,057 | = |
| Reserves13 | €139,100 | €154,202 | €182,850 | €215,938 | €248,982 | €289,442 | €360,042 | €410,104 | ▲ 13.9% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €214,079 | €247,123 | €289,442 | €360,042 | €410,104 | ▲ 13.9% |
| Profit (loss) carried forward14 | €34,247 | €34,247 | €34,247 | €34,247 | €34,247 | €34,247 | €34,247 | €34,247 | = |
| Amounts payable17/49 | €2,817 | €3,045 | €15,387 | €16,416 | €15,560 | €21,340 | €10,524 | €1,830 | ▼ 82.6% |
| Amounts payable within one year42/48 | €2,817 | €3,045 | €15,387 | €16,416 | €15,560 | €21,340 | €10,524 | €1,811 | ▼ 82.8% |
| Financial debts43 | - | - | - | €1,220 | €255 | €243 | - | - | - |
| Credit institutions430/8 | - | - | - | €1,220 | €255 | €243 | - | - | - |
| Trade debts44 | €201 | €727 | €537 | €393 | €778 | €8 | €719 | €813 | ▲ 13.2% |
| Suppliers440/4 | - | - | - | €393 | €778 | €8 | €719 | €813 | ▲ 13.2% |
| Taxes, remuneration and social security45 | - | - | - | €14,653 | €14,510 | €21,088 | €9,380 | €993 | ▼ 89.4% |
| Taxes450/3 | - | - | - | €14,653 | €14,510 | €21,088 | €9,380 | €993 | ▼ 89.4% |
| Other amounts payable47/48 | - | - | - | €151 | €17 | - | €425 | €4 | ▼ 98.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €19 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,018 | €15,102 | €28,648 | €33,088 | €33,045 | €42,319 | €70,600 | €50,062 | ▼ 29.1% |
| + Depreciation and write-downs630 | €6,636 | €6,283 | €10,703 | €10,516 | €10,199 | €10,482 | €10,107 | €6,657 | ▼ 34.1% |
| Operating cash flow (approximation) | €11,654 | €21,385 | €39,351 | €43,603 | €43,244 | €52,801 | €80,706 | €56,719 | ▼ 29.7% |
| Investment in fixed assets (approximation) | - | -€4,460 | -€43,240 | -€1,261 | -€3,561 | €0 | €0 | €37 | - |
| Change in cash | - | €18,390 | €28,631 | €46,430 | €17,468 | €95,375 | €72,923 | €56,607 | ▼ 22.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-02-2026 | 2026-00042056 | |
| 31-12-2024 | micro format | 29-05-2025 | 2025-00111412 | |
| 31-12-2023 | micro format | 27-05-2024 | 2024-00099740 | |
| 31-12-2022 | micro format | 18-05-2023 | 2023-00090101 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20244679 | |
| 31-12-2020 | micro format | 16-06-2021 | 2021-21600186 | |
| 31-12-2019 | full format | 07-07-2020 | 2020-27800066 | |
| 31-12-2018 | full format | 28-05-2019 | 2019-15000460 | |
| 31-12-2017 | full format | 02-07-2018 | 2018-27800111 | |
| 31-12-2016 | full format | 22-08-2017 | 2017-47200338 |