Si9: what changed
Two fiscal 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.
Si9
Largest movements
- Receivables within one year +€26,994
new in 2025: €26,994
of which Trade receivables: +€19,832
- Cash +€17,697
up €17,697 (+67.4%), from €26,267 to €43,963
mainly Net result for the year (+€45,753) and Depreciation (+€3,743)
- Tangible fixed assets +€1,504
up €1,504 (+17.6%), from €8,544 to €10,047
of which Furniture and vehicles: +€2,271
- Reserves +€65,403
new in 2025: €65,403
- Profit (loss) carried forward -€19,650
no longer reported in 2025 (was €19,650)
- Tax, wage and social debts +€2,156
up €2,156 (+19.7%), from €10,944 to €13,099
- Trade debts -€1,531
down €1,531 (-88.8%), from €1,723 to €193
- Gross operating margin +€39,988
up €39,988 (+145.3%), from €27,528 to €67,516
- Taxes +€8,015
up €8,015 (+134.7%), from €5,952 to €13,966
- Financial charges +€3,568
up €3,568 (+3467.3%), from €103 to €3,670
- Depreciation +€1,920
up €1,920 (+105.3%), from €1,824 to €3,743
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.
Cash bridge derived
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 | €34,817 | €81,195 | +€46,378 | +133.2% |
| Fixed assets | 21/28 | €8,544 | €10,047 | +€1,504 | +17.6% |
| Tangible fixed assets | 22/27 | €8,544 | €10,047 | +€1,504 | +17.6% |
| Plant, machinery and equipment | 23 | €5,524 | €4,757 | -€767 | -13.9% |
| Furniture and vehicles | 24 | €3,020 | €5,291 | +€2,271 | +75.2% |
| Current assets | 29/58 | €26,274 | €71,148 | +€44,874 | +170.8% |
| Amounts receivable within one year | 40/41 | - | €26,994 | +€26,994 | |
| Trade receivables | 40 | - | €19,832 | +€19,832 | |
| Other amounts receivable | 41 | - | €7,163 | +€7,163 | |
| Cash at bank and in hand | 54/58 | €26,267 | €43,963 | +€17,697 | +67.4% |
| Deferred charges and accrued income | 490/1 | €7 | €190 | +€183 | +2674.6% |
| Total equity and liabilities | 10/49 | €34,817 | €81,195 | +€46,378 | +133.2% |
| Equity | 10/15 | €22,150 | €67,903 | +€45,753 | +206.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €65,403 | +€65,403 | |
| Distributable reserves | 133 | - | €65,403 | +€65,403 | |
| Profit (loss) carried forward | 14 | €19,650 | - | -€19,650 | |
| Amounts payable | 17/49 | €12,667 | €13,292 | +€625 | +4.9% |
| Amounts payable within one year | 42/48 | €12,667 | €13,292 | +€625 | +4.9% |
| Trade debts | 44 | €1,723 | €193 | -€1,531 | -88.8% |
| Suppliers | 440/4 | €1,723 | €193 | -€1,531 | -88.8% |
| Taxes, remuneration and social security | 45 | €10,944 | €13,099 | +€2,156 | +19.7% |
| Taxes | 450/3 | €10,944 | €13,099 | +€2,156 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,824 | €3,743 | +€1,920 | +105.3% |
| Other operating charges | 640/8 | - | €616 | +€616 | |
| Gross operating margin | 9900 | €27,528 | €67,516 | +€39,988 | +145.3% |
| Operating profit (loss) | 9901 | €25,705 | €63,157 | +€37,452 | +145.7% |
| Financial income | 75/76B | - | €233 | +€233 | |
| Recurring financial income | 75 | - | €233 | +€233 | |
| Financial charges | 65/66B | €103 | €3,670 | +€3,568 | +3467.3% |
| Recurring financial charges | 65 | €103 | €3,670 | +€3,568 | +3467.3% |
| Profit (loss) for the period before taxes | 9903 | €25,602 | €59,719 | +€34,117 | +133.3% |
| Income taxes | 67/77 | €5,952 | €13,966 | +€8,015 | +134.7% |
| Profit (loss) for the period | 9904 | €19,650 | €45,753 | +€26,103 | +132.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,650 | €45,753 | +€26,103 | +132.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.