S.I.R.: 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.
S.I.R.
Largest movements
- Cash -€111,842
down €111,842 (-47.8%), from €233,980 to €122,138
mainly Other debts (-€108,055) and Net result for the year (-€48,063)
- Tangible fixed assets -€45,727
down €45,727 (-49.1%), from €93,150 to €47,423
of which Furniture and vehicles: -€30,384
- Receivables within one year +€13,854
up €13,854 (+4.8%), from €289,385 to €303,239
of which Other amounts receivable: +€23,759
- Other debts -€108,055
down €108,055 (-93.6%), from €115,499 to €7,444
- Profit (loss) carried forward -€48,063
down €48,063 (-12.8%), from €376,453 to €328,391
- Trade debts +€35,664
up €35,664 (+49.8%), from €71,565 to €107,229
- Tax, wage and social debts -€16,162
down €16,162 (-63.6%), from €25,425 to €9,263
of which Taxes: -€10,398
- Gross operating margin -€420,300
down €420,300 (-57.6%), from €729,192 to €308,892
- Staff costs -€103,075
down €103,075 (-25.5%), from €404,924 to €301,849
- Taxes -€45,949
down €45,949 (-98.4%), from €46,679 to €730
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 | €672,066 | €526,241 | -€145,826 | -21.7% |
| Fixed assets | 21/28 | €95,400 | €49,673 | -€45,727 | -47.9% |
| Tangible fixed assets | 22/27 | €93,150 | €47,423 | -€45,727 | -49.1% |
| Plant, machinery and equipment | 23 | €14,197 | €5,286 | -€8,911 | -62.8% |
| Furniture and vehicles | 24 | €71,875 | €41,491 | -€30,384 | -42.3% |
| Leasing and similar rights | 25 | €4,687 | €88 | -€4,599 | -98.1% |
| Other tangible fixed assets | 26 | €2,390 | €557 | -€1,833 | -76.7% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €576,666 | €476,567 | -€100,099 | -17.4% |
| Stocks and contracts in progress | 3 | €53,301 | €48,096 | -€5,205 | -9.8% |
| Stocks | 30/36 | €53,301 | €48,096 | -€5,205 | -9.8% |
| Amounts receivable within one year | 40/41 | €289,385 | €303,239 | +€13,854 | +4.8% |
| Trade receivables | 40 | €237,507 | €227,601 | -€9,906 | -4.2% |
| Other amounts receivable | 41 | €51,879 | €75,638 | +€23,759 | +45.8% |
| Cash at bank and in hand | 54/58 | €233,980 | €122,138 | -€111,842 | -47.8% |
| Deferred charges and accrued income | 490/1 | - | €3,094 | +€3,094 | |
| Total equity and liabilities | 10/49 | €672,066 | €526,241 | -€145,826 | -21.7% |
| Equity | 10/15 | €444,103 | €396,041 | -€48,063 | -10.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €376,453 | €328,391 | -€48,063 | -12.8% |
| Amounts payable | 17/49 | €227,963 | €130,200 | -€97,763 | -42.9% |
| Amounts payable after more than one year | 17 | €5,486 | €1,382 | -€4,104 | -74.8% |
| Financial debts | 170/4 | €5,486 | €1,382 | -€4,104 | -74.8% |
| Amounts payable within one year | 42/48 | €222,477 | €128,818 | -€93,659 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €9,987 | €4,882 | -€5,106 | -51.1% |
| Trade debts | 44 | €71,565 | €107,229 | +€35,664 | +49.8% |
| Suppliers | 440/4 | €71,565 | €107,229 | +€35,664 | +49.8% |
| Taxes, remuneration and social security | 45 | €25,425 | €9,263 | -€16,162 | -63.6% |
| Taxes | 450/3 | €10,549 | €150 | -€10,398 | -98.6% |
| Remuneration and social security | 454/9 | €14,877 | €9,113 | -€5,764 | -38.7% |
| Other amounts payable | 47/48 | €115,499 | €7,444 | -€108,055 | -93.6% |
| Non-recurring operating income | 76A | €207 | - | -€207 | |
| Remuneration, social security and pensions | 62 | €404,924 | €301,849 | -€103,075 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,936 | €45,727 | +€791 | +1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,280 | - | -€6,280 | |
| Other operating charges | 640/8 | €4,022 | €4,423 | +€402 | +10.0% |
| Gross operating margin | 9900 | €729,192 | €308,892 | -€420,300 | -57.6% |
| Operating profit (loss) | 9901 | €269,031 | -€43,106 | -€312,137 | |
| Financial income | 75/76B | €264 | - | -€264 | |
| Recurring financial income | 75 | €264 | - | -€264 | |
| Financial charges | 65/66B | €2,726 | €4,227 | +€1,500 | +55.0% |
| Recurring financial charges | 65 | €2,726 | €4,227 | +€1,500 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €266,568 | -€47,333 | -€313,901 | |
| Income taxes | 67/77 | €46,679 | €730 | -€45,949 | -98.4% |
| Profit (loss) for the period | 9904 | €219,890 | -€48,063 | -€267,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €219,890 | -€48,063 | -€267,952 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.