SI PRODUCTS & SERVICES: 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.
SI PRODUCTS & SERVICES
Largest movements
- Tangible fixed assets +€493,842
up €493,842 (+182%), from €271,189 to €765,031
of which Land and buildings: +€513,110
- Cash -€111,131
down €111,131 (-63.9%), from €173,981 to €62,850
mainly Investment in fixed assets (net) (-€526,252) and Trade debts (-€24,609)
- Receivables within one year +€20,457
up €20,457 (+19.6%), from €104,202 to €124,659
of which Other amounts receivable: +€36,253
- Debts after one year +€418,148
up €418,148 (+150%), from €279,104 to €697,252
of which Financial debts: +€427,659
- Current portion of long-term debt +€33,151
up €33,151 (+128%), from €25,849 to €59,000
- Trade debts -€24,609
down €24,609 (-24.8%), from €99,286 to €74,677
- Tax, wage and social debts -€20,942
down €20,942 (-61.3%), from €34,151 to €13,208
of which Taxes: -€20,968
- Gross operating margin -€11,979
down €11,979 (-9.8%), from €122,679 to €110,700
- Staff costs +€8,914
up €8,914 (+17.9%), from €49,737 to €58,651
- Depreciation +€8,378
up €8,378 (+36.5%), from €22,943 to €31,321
- Financial charges +€6,222
up €6,222 (+112%), from €5,531 to €11,753
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 | €553,121 | €960,796 | +€407,675 | +73.7% |
| Fixed assets | 21/28 | €274,939 | €769,870 | +€494,931 | +180% |
| Tangible fixed assets | 22/27 | €271,189 | €765,031 | +€493,842 | +182% |
| Land and buildings | 22 | €194,579 | €707,689 | +€513,110 | +264% |
| Plant, machinery and equipment | 23 | €9,367 | €6,071 | -€3,296 | -35.2% |
| Furniture and vehicles | 24 | €64,267 | €48,772 | -€15,494 | -24.1% |
| Other tangible fixed assets | 26 | €2,977 | €2,499 | -€478 | -16.1% |
| Financial fixed assets | 28 | €3,750 | €4,839 | +€1,089 | +29.0% |
| Current assets | 29/58 | €278,183 | €190,926 | -€87,256 | -31.4% |
| Amounts receivable within one year | 40/41 | €104,202 | €124,659 | +€20,457 | +19.6% |
| Trade receivables | 40 | €99,191 | €83,396 | -€15,796 | -15.9% |
| Other amounts receivable | 41 | €5,010 | €41,263 | +€36,253 | +724% |
| Cash at bank and in hand | 54/58 | €173,981 | €62,850 | -€111,131 | -63.9% |
| Deferred charges and accrued income | 490/1 | - | €3,418 | +€3,418 | |
| Total equity and liabilities | 10/49 | €553,121 | €960,796 | +€407,675 | +73.7% |
| Equity | 10/15 | €114,731 | €115,569 | +€838 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,389 | €70,389 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €68,529 | €68,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,743 | €26,581 | +€838 | +3.3% |
| Amounts payable | 17/49 | €438,390 | €845,227 | +€406,837 | +92.8% |
| Amounts payable after more than one year | 17 | €279,104 | €697,252 | +€418,148 | +150% |
| Financial debts | 170/4 | €180,386 | €608,045 | +€427,659 | +237% |
| Other amounts payable | 178/9 | €98,718 | €89,207 | -€9,510 | -9.6% |
| Amounts payable within one year | 42/48 | €159,286 | €147,975 | -€11,311 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €25,849 | €59,000 | +€33,151 | +128% |
| Trade debts | 44 | €99,286 | €74,677 | -€24,609 | -24.8% |
| Suppliers | 440/4 | €99,286 | €74,677 | -€24,609 | -24.8% |
| Taxes, remuneration and social security | 45 | €34,151 | €13,208 | -€20,942 | -61.3% |
| Taxes | 450/3 | €27,505 | €6,537 | -€20,968 | -76.2% |
| Remuneration and social security | 454/9 | €6,646 | €6,671 | +€26 | +0.4% |
| Other amounts payable | 47/48 | - | €1,089 | +€1,089 | |
| Remuneration, social security and pensions | 62 | €49,737 | €58,651 | +€8,914 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,943 | €31,321 | +€8,378 | +36.5% |
| Other operating charges | 640/8 | €4,281 | €4,446 | +€165 | +3.9% |
| Gross operating margin | 9900 | €122,679 | €110,700 | -€11,979 | -9.8% |
| Operating profit (loss) | 9901 | €45,719 | €16,282 | -€29,436 | -64.4% |
| Financial income | 75/76B | €330 | €45 | -€286 | -86.5% |
| Recurring financial income | 75 | €330 | €45 | -€286 | -86.5% |
| Financial charges | 65/66B | €5,531 | €11,753 | +€6,222 | +112% |
| Recurring financial charges | 65 | €5,531 | €11,753 | +€6,222 | +112% |
| Profit (loss) for the period before taxes | 9903 | €40,518 | €4,574 | -€35,944 | -88.7% |
| Income taxes | 67/77 | €2,801 | €3,736 | +€936 | +33.4% |
| Profit (loss) for the period | 9904 | €37,717 | €838 | -€36,880 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,717 | €838 | -€36,880 | -97.8% |
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 27 October 2026 via checked.be.