SI3 Fund: 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.
SI3 Fund
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+79.2%), from €1.9m to €3.4m
- Cash -€860,713
down €860,713 (-89.7%), from €959,134 to €98,421
mainly Investment in fixed assets (net) (-€1.5m) and Net result for the year (-€1.1m)
- Receivables after one year -€341,250
down €341,250 (-21.5%), from €1.6m to €1.2m
- Contributions +€1.4m
up €1.4m (+23.2%), from €6.1m to €7.6m
- Profit (loss) carried forward -€1.1m
down €1.1m (-60.5%), from -€1.8m to -€2.8m
- Purchases and services +€643,991
new in 2025: €643,991
- Financial charges +€389,028
up €389,028 (+256%), from €152,180 to €541,208
of which Non-recurring financial charges: +€378,339
- Gross operating margin +€59,968
up €59,968 (+8.5%), from -€702,260 to -€642,292
- Financial income +€24,199
up €24,199 (+27.1%), from €89,327 to €113,526
of which Non-recurring financial income: +€14,392
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 | €4,462,410 | €4,777,074 | +€314,664 | +7.1% |
| Fixed assets | 21/28 | €1,907,266 | €3,418,655 | +€1.5m | +79.2% |
| Financial fixed assets | 28 | €1,907,266 | €3,418,655 | +€1.5m | +79.2% |
| Current assets | 29/58 | €2,555,144 | €1,358,419 | -€1.2m | -46.8% |
| Amounts receivable after more than one year | 29 | €1,588,750 | €1,247,500 | -€341,250 | -21.5% |
| Other amounts receivable | 291 | €1,588,750 | €1,247,500 | -€341,250 | -21.5% |
| Amounts receivable within one year | 40/41 | €7,260 | €7,490 | +€230 | +3.2% |
| Other amounts receivable | 41 | €7,260 | €7,490 | +€230 | +3.2% |
| Cash at bank and in hand | 54/58 | €959,134 | €98,421 | -€860,713 | -89.7% |
| Deferred charges and accrued income | 490/1 | €0 | €5,007 | +€5,007 | |
| Total equity and liabilities | 10/49 | €4,462,410 | €4,777,074 | +€314,664 | +7.1% |
| Equity | 10/15 | €4,365,172 | €4,720,325 | +€355,153 | +8.1% |
| Contributions | 10/11 | €6,135,792 | €7,561,917 | +€1.4m | +23.2% |
| Profit (loss) carried forward | 14 | -€1,770,620 | -€2,841,592 | -€1.1m | -60.5% |
| Amounts payable | 17/49 | €97,238 | €56,749 | -€40,489 | -41.6% |
| Amounts payable within one year | 42/48 | €97,238 | €56,749 | -€40,489 | -41.6% |
| Trade debts | 44 | €97,238 | €56,749 | -€40,489 | -41.6% |
| Suppliers | 440/4 | €97,238 | €56,749 | -€40,489 | -41.6% |
| Turnover | 70 | - | €1,699 | +€1,699 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €643,991 | +€643,991 | |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +158% |
| Gross operating margin | 9900 | -€702,260 | -€642,292 | +€59,968 | +8.5% |
| Operating profit (loss) | 9901 | -€702,647 | -€643,290 | +€59,356 | +8.4% |
| Financial income | 75/76B | €89,327 | €113,526 | +€24,199 | +27.1% |
| Recurring financial income | 75 | €87,912 | €97,719 | +€9,807 | +11.2% |
| Non-recurring financial income | 76B | €1,415 | €15,807 | +€14,392 | +1,017% |
| Financial charges | 65/66B | €152,180 | €541,208 | +€389,028 | +256% |
| Recurring financial charges | 65 | €152,180 | €162,869 | +€10,689 | +7.0% |
| Non-recurring financial charges | 66B | - | €378,339 | +€378,339 | |
| Profit (loss) for the period before taxes | 9903 | -€765,500 | -€1,070,972 | -€305,473 | -39.9% |
| Profit (loss) for the period | 9904 | -€765,500 | -€1,070,972 | -€305,473 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€765,500 | -€1,070,972 | -€305,473 | -39.9% |
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 26 October 2026 via checked.be.