SFINX PYRAMID: 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.
SFINX PYRAMID
Largest movements
- Cash -€16,501
down €16,501 (-36.1%), from €45,688 to €29,187
mainly Net result for the year (-€23,211) and Trade debts (-€3,273)
- Receivables within one year -€7,427
down €7,427 (-41.6%), from €17,872 to €10,445
of which Trade receivables: -€7,552
- Tangible fixed assets -€4,225
down €4,225 (-32.0%), from €13,204 to €8,980
of which Plant, machinery and equipment: -€2,660
- Profit (loss) carried forward -€23,211
down €23,211 (-68.3%), from €34,002 to €10,791
- Trade debts -€3,273
down €3,273 (-41.4%), from €7,897 to €4,624
- Tax, wage and social debts -€1,662
down €1,662 (-32.7%), from €5,084 to €3,421
- Gross operating margin -€38,484
down €38,484, from €20,317 to -€18,166
- Taxes -€3,421
no longer reported in 2025 (was €3,421)
- Depreciation -€1,968
down €1,968 (-31.8%), from €6,193 to €4,225
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 | €77,301 | €49,154 | -€28,147 | -36.4% |
| Fixed assets | 21/28 | €13,651 | €9,426 | -€4,225 | -30.9% |
| Tangible fixed assets | 22/27 | €13,204 | €8,980 | -€4,225 | -32.0% |
| Plant, machinery and equipment | 23 | €10,709 | €8,049 | -€2,660 | -24.8% |
| Furniture and vehicles | 24 | €2,495 | €931 | -€1,564 | -62.7% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €63,650 | €39,728 | -€23,922 | -37.6% |
| Amounts receivable within one year | 40/41 | €17,872 | €10,445 | -€7,427 | -41.6% |
| Trade receivables | 40 | €17,872 | €10,320 | -€7,552 | -42.3% |
| Other amounts receivable | 41 | - | €125 | +€125 | |
| Cash at bank and in hand | 54/58 | €45,688 | €29,187 | -€16,501 | -36.1% |
| Deferred charges and accrued income | 490/1 | €91 | €97 | +€6 | +6.8% |
| Total equity and liabilities | 10/49 | €77,301 | €49,154 | -€28,147 | -36.4% |
| Equity | 10/15 | €64,320 | €41,109 | -€23,211 | -36.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €11,726 | €11,726 | = | 0.0% |
| Distributable reserves | 133 | €11,726 | €11,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,002 | €10,791 | -€23,211 | -68.3% |
| Amounts payable | 17/49 | €12,981 | €8,045 | -€4,936 | -38.0% |
| Amounts payable within one year | 42/48 | €12,981 | €8,045 | -€4,936 | -38.0% |
| Trade debts | 44 | €7,897 | €4,624 | -€3,273 | -41.4% |
| Suppliers | 440/4 | €7,897 | €4,624 | -€3,273 | -41.4% |
| Taxes, remuneration and social security | 45 | €5,084 | €3,421 | -€1,662 | -32.7% |
| Taxes | 450/3 | €5,084 | €3,421 | -€1,662 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,193 | €4,225 | -€1,968 | -31.8% |
| Other operating charges | 640/8 | €732 | €720 | -€12 | -1.6% |
| Gross operating margin | 9900 | €20,317 | -€18,166 | -€38,484 | |
| Operating profit (loss) | 9901 | €13,393 | -€23,111 | -€36,504 | |
| Financial charges | 65/66B | €105 | €100 | -€4 | -4.3% |
| Recurring financial charges | 65 | €105 | €100 | -€4 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €13,288 | -€23,211 | -€36,499 | |
| Income taxes | 67/77 | €3,421 | - | -€3,421 | |
| Profit (loss) for the period | 9904 | €9,867 | -€23,211 | -€33,078 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,867 | -€23,211 | -€33,078 |
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 16 October 2026 via checked.be.