HANS SYSMANS: 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.
HANS SYSMANS
Largest movements
- Cash +€24,462
up €24,462 (+14.5%), from €168,633 to €193,095
mainly Net result for the year (+€63,666) and Depreciation (+€18,165)
- Tangible fixed assets -€14,832
down €14,832 (-4.2%), from €350,371 to €335,539
of which Plant, machinery and equipment: -€8,308
- Receivables within one year -€12,470
down €12,470 (-38.0%), from €32,851 to €20,381
of which Trade receivables: -€14,790
- Debts after one year -€21,871
down €21,871 (-12.1%), from €180,409 to €158,539
- Reserves +€19,800
up €19,800 (+7.0%), from €281,760 to €301,560
- Other debts +€6,904
up €6,904 (+34.8%), from €19,852 to €26,757
- Tax, wage and social debts -€5,911
down €5,911 (-41.3%), from €14,305 to €8,393
- Write-downs -€12,343
new in 2025: -€12,343
- Depreciation -€8,782
down €8,782 (-32.6%), from €26,947 to €18,165
- Taxes +€4,456
up €4,456 (+22.6%), from €19,716 to €24,172
- Other operating charges -€1,890
down €1,890 (-37.7%), from €5,006 to €3,116
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 | €554,048 | €550,783 | -€3,265 | -0.6% |
| Fixed assets | 21/28 | €350,506 | €335,674 | -€14,832 | -4.2% |
| Tangible fixed assets | 22/27 | €350,371 | €335,539 | -€14,832 | -4.2% |
| Land and buildings | 22 | €339,494 | €332,969 | -€6,524 | -1.9% |
| Plant, machinery and equipment | 23 | €10,878 | €2,570 | -€8,308 | -76.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €203,542 | €215,109 | +€11,567 | +5.7% |
| Amounts receivable within one year | 40/41 | €32,851 | €20,381 | -€12,470 | -38.0% |
| Trade receivables | 40 | €29,155 | €14,364 | -€14,790 | -50.7% |
| Other amounts receivable | 41 | €3,696 | €6,016 | +€2,320 | +62.8% |
| Cash at bank and in hand | 54/58 | €168,633 | €193,095 | +€24,462 | +14.5% |
| Deferred charges and accrued income | 490/1 | €2,058 | €1,634 | -€424 | -20.6% |
| Total equity and liabilities | 10/49 | €554,048 | €550,783 | -€3,265 | -0.6% |
| Equity | 10/15 | €296,069 | €315,935 | +€19,866 | +6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €281,760 | €301,560 | +€19,800 | +7.0% |
| Distributable reserves | 133 | €281,760 | €301,560 | +€19,800 | +7.0% |
| Profit (loss) carried forward | 14 | €1,909 | €1,975 | +€66 | +3.5% |
| Amounts payable | 17/49 | €257,979 | €234,847 | -€23,132 | -9.0% |
| Amounts payable after more than one year | 17 | €180,409 | €158,539 | -€21,871 | -12.1% |
| Financial debts | 170/4 | €180,409 | €158,539 | -€21,871 | -12.1% |
| Amounts payable within one year | 42/48 | €76,245 | €74,412 | -€1,833 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €21,092 | €21,871 | +€778 | +3.7% |
| Financial debts | 43 | €3,770 | €3,811 | +€41 | +1.1% |
| Credit institutions | 430/8 | €3,770 | €3,811 | +€41 | +1.1% |
| Trade debts | 44 | €17,226 | €13,580 | -€3,645 | -21.2% |
| Suppliers | 440/4 | €17,226 | €13,580 | -€3,645 | -21.2% |
| Taxes, remuneration and social security | 45 | €14,305 | €8,393 | -€5,911 | -41.3% |
| Taxes | 450/3 | €14,305 | €8,393 | -€5,911 | -41.3% |
| Other amounts payable | 47/48 | €19,852 | €26,757 | +€6,904 | +34.8% |
| Accrued charges and deferred income | 492/3 | €1,325 | €1,897 | +€572 | +43.2% |
| Remuneration, social security and pensions | 62 | €341 | €170 | -€171 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,947 | €18,165 | -€8,782 | -32.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€12,343 | -€12,343 | |
| Other operating charges | 640/8 | €5,006 | €3,116 | -€1,890 | -37.7% |
| Non-recurring operating charges | 66A | €361 | €6,856 | +€6,495 | +1,799% |
| Gross operating margin | 9900 | €112,887 | €112,773 | -€114 | -0.1% |
| Operating profit (loss) | 9901 | €80,232 | €96,808 | +€16,576 | +20.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -75.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -75.0% |
| Financial charges | 65/66B | €9,206 | €8,970 | -€236 | -2.6% |
| Recurring financial charges | 65 | €9,206 | €8,970 | -€236 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €71,026 | €87,838 | +€16,813 | +23.7% |
| Income taxes | 67/77 | €19,716 | €24,172 | +€4,456 | +22.6% |
| Profit (loss) for the period | 9904 | €51,310 | €63,666 | +€12,356 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,310 | €63,666 | +€12,356 | +24.1% |
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 13 October 2026 via checked.be.