SI INVEST: what changed
What changed
SI INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€3.2m
2024 · €1.6m+€1.6m
Equity
€18.4m
2024 · €20.7m-€2.4m
Cash
€711,104
2024 · €402,040+€309,065
Balance sheet total
€21.4m
2024 · €21.5m-€119,795
Largest movements
Assets
- Financial fixed assets -€2.5m
down €2.5m (-12.1%), from €21.0m to €18.4m
of which Affiliated companies: -€2.5m
- Receivables within one year +€2.1m
up €2.1m (+1,913%), from €110,878 to €2.2m
of which Other amounts receivable: +€2.1m
- Cash +€309,065
up €309,065 (+76.9%), from €402,040 to €711,104
mainly Net result for the year (+€3.2m) and Investment in fixed assets (net) (+€2.5m)
Equity and liabilities
- Profit (loss) carried forward -€2.5m
down €2.5m (-50.2%), from €5.1m to €2.5m
- Other debts +€2.4m
new in 2025: €2.4m
Income statement
- Financial income +€1.8m
up €1.8m (+106%), from €1.7m to €3.5m
- Turnover -€824,779
down €824,779 (-25.2%), from €3.3m to €2.4m
- Services and other goods -€519,190
down €519,190 (-38.2%), from €1.4m to €838,823
- Staff costs -€420,608
down €420,608 (-25.2%), from €1.7m to €1.2m
- Taxes +€150,827
up €150,827 (+255%), from €59,170 to €209,998
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.6m
Turnover
-€824,779
Other operating income
-€9,860
Services and other goods
+€519,190
Staff costs
+€420,608
Depreciation
+€8,952
Other operating charges
-€1,236
Other operating items
-€30,624
Financial income
+€1.8m
Financial charges
-€146,872
Taxes
-€150,827
Result 2025
€3.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3.4m
Investment
+€2.5m
Financing
-€5.6m
Cash 2024
€402,040
From operations (derived)
+€3.4m
Net result for the year
+€3.2m
Depreciation
+€18,579
Receivables within one year
-€2.1m
Deferred charges and accrued income
+€5,027
Trade debts
+€46,560
Tax, wage and social debts
-€142,524
Other debts
+€2.4m
Investment (derived)
+€2.5m
Investment in fixed assets (net)
+€2.5m
Financing
-€5.6m
Current portion of long-term debt
-€6
Contributions, distributions and other
-€5.6m
Cash 2025
€711,104
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,503,675 | €21,383,880 | -€119,795 | -0.6% |
| Formation expenses | 20 | €12,941 | - | -€12,941 | |
| Fixed assets | 21/28 | €20,972,055 | €18,440,337 | -€2.5m | -12.1% |
| Tangible fixed assets | 22/27 | €9,914 | €4,277 | -€5,637 | -56.9% |
| Plant, machinery and equipment | 23 | €7,692 | - | -€7,692 | |
| Furniture and vehicles | 24 | €2,223 | €4,277 | +€2,054 | +92.4% |
| Financial fixed assets | 28 | €20,962,141 | €18,436,059 | -€2.5m | -12.1% |
| Affiliated companies | 280/1 | €20,961,971 | €18,435,890 | -€2.5m | -12.1% |
| Participating interests | 280 | €20,961,971 | €18,435,890 | -€2.5m | -12.1% |
| Other financial fixed assets | 284/8 | €170 | €170 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €518,679 | €2,943,543 | +€2.4m | +468% |
| Amounts receivable within one year | 40/41 | €110,878 | €2,231,705 | +€2.1m | +1,913% |
| Trade receivables | 40 | €84,581 | €69,836 | -€14,744 | -17.4% |
| Other amounts receivable | 41 | €26,297 | €2,161,868 | +€2.1m | +8,121% |
| Cash at bank and in hand | 54/58 | €402,040 | €711,104 | +€309,065 | +76.9% |
| Deferred charges and accrued income | 490/1 | €5,761 | €734 | -€5,027 | -87.3% |
| Total equity and liabilities | 10/49 | €21,503,675 | €21,383,880 | -€119,795 | -0.6% |
| Equity | 10/15 | €20,723,890 | €18,350,066 | -€2.4m | -11.5% |
| Contributions | 10/11 | €15,283,304 | €15,283,304 | = | 0.0% |
| Capital | 10 | €7,924,894 | €7,924,894 | = | 0.0% |
| Issued capital | 100 | €7,924,894 | €7,924,894 | = | 0.0% |
| Contributions outside capital | 11 | €7,358,410 | €7,358,410 | = | 0.0% |
| Share premium | 1100/10 | €7,358,410 | €7,358,410 | = | 0.0% |
| Reserves | 13 | €385,000 | €550,000 | +€165,000 | +42.9% |
| Non-distributable reserves | 130/1 | €385,000 | €550,000 | +€165,000 | +42.9% |
| Legal reserve | 130 | €385,000 | €550,000 | +€165,000 | +42.9% |
| Profit (loss) carried forward | 14 | €5,055,586 | €2,516,762 | -€2.5m | -50.2% |
| Amounts payable | 17/49 | €779,785 | €3,033,814 | +€2.3m | +289% |
| Amounts payable within one year | 42/48 | €779,785 | €3,033,814 | +€2.3m | +289% |
| Current portion of amounts payable after more than one year | 42 | €6 | - | -€6 | |
| Trade debts | 44 | €425,184 | €471,744 | +€46,560 | +11.0% |
| Suppliers | 440/4 | €425,184 | €471,744 | +€46,560 | +11.0% |
| Taxes, remuneration and social security | 45 | €354,594 | €212,070 | -€142,524 | -40.2% |
| Taxes | 450/3 | €28,168 | €104,060 | +€75,892 | +269% |
| Remuneration and social security | 454/9 | €326,426 | €108,009 | -€218,416 | -66.9% |
| Other amounts payable | 47/48 | - | €2,350,000 | +€2.4m | |
| Operating income | 70/76A | €3,338,400 | €2,473,138 | -€865,263 | -25.9% |
| Turnover | 70 | €3,268,944 | €2,444,166 | -€824,779 | -25.2% |
| Other operating income | 74 | €24,665 | €14,806 | -€9,860 | -40.0% |
| Non-recurring operating income | 76A | €44,790 | €14,166 | -€30,624 | -68.4% |
| Operating charges | 60/66A | €3,058,706 | €2,111,192 | -€947,515 | -31.0% |
| Services and other goods | 61 | €1,358,013 | €838,823 | -€519,190 | -38.2% |
| Remuneration, social security and pensions | 62 | €1,669,206 | €1,248,598 | -€420,608 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,531 | €18,579 | -€8,952 | -32.5% |
| Other operating charges | 640/8 | €3,956 | €5,192 | +€1,236 | +31.3% |
| Operating profit (loss) | 9901 | €279,694 | €361,946 | +€82,252 | +29.4% |
| Financial income | 75/76B | €1,705,429 | €3,518,051 | +€1.8m | +106% |
| Recurring financial income | 75 | €1,705,429 | €3,518,051 | +€1.8m | +106% |
| Income from financial fixed assets | 750 | €1,549,117 | €3,472,896 | +€1.9m | +124% |
| Income from current assets | 751 | - | €22,934 | +€22,934 | |
| Other financial income | 752/9 | €156,312 | €22,220 | -€134,092 | -85.8% |
| Financial charges | 65/66B | €296,951 | €443,823 | +€146,872 | +49.5% |
| Recurring financial charges | 65 | €296,951 | €76,067 | -€220,884 | -74.4% |
| Debt charges | 650 | €242,353 | €15,671 | -€226,681 | -93.5% |
| Other financial charges | 652/9 | €54,599 | €60,396 | +€5,797 | +10.6% |
| Non-recurring financial charges | 66B | - | €367,756 | +€367,756 | |
| Profit (loss) for the period before taxes | 9903 | €1,688,172 | €3,436,173 | +€1.7m | +104% |
| Income taxes | 67/77 | €59,170 | €209,998 | +€150,827 | +255% |
| Taxes | 670/3 | €59,170 | €209,998 | +€150,827 | +255% |
| Profit (loss) for the period | 9904 | €1,629,001 | €3,226,176 | +€1.6m | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,629,001 | €3,226,176 | +€1.6m | +98.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.