Siab: 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.
Siab
Largest movements
- Current investments +€15,000
up €15,000 (+25.0%), from €60,000 to €75,000
- Cash -€14,365
down €14,365 (-77.8%), from €18,453 to €4,089
mainly Current investments (-€15,000) and Debts after one year (-€8,645)
- Tangible fixed assets -€10,029
down €10,029 (-4.5%), from €224,103 to €214,073
of which Land and buildings: -€11,173
- Receivables within one year +€5,681
up €5,681 (+2681.1%), from €212 to €5,893
- Debts after one year -€8,645
down €8,645 (-3.3%), from €260,869 to €252,224
of which Financial debts: -€8,645
- Other debts +€7,363
up €7,363 (+54.1%), from €13,609 to €20,972
- Profit (loss) carried forward -€3,782
down €3,782 (-6.6%), from -€57,623 to -€61,405
- Gross operating margin -€2,352
down €2,352 (-16.8%), from €14,024 to €11,672
- Financial charges -€1,807
down €1,807 (-40.3%), from €4,481 to €2,673
- Financial income +€868
up €868 (+122.9%), from €706 to €1,574
- Depreciation +€273
up €273 (+2.1%), from €12,971 to €13,244
- Other operating charges +€266
up €266 (+31.4%), from €845 to €1,110
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 | €302,884 | €299,175 | -€3,710 | -1.2% |
| Fixed assets | 21/28 | €224,103 | €214,073 | -€10,029 | -4.5% |
| Tangible fixed assets | 22/27 | €224,103 | €214,073 | -€10,029 | -4.5% |
| Land and buildings | 22 | €224,103 | €212,930 | -€11,173 | -5.0% |
| Plant, machinery and equipment | 23 | - | €1,143 | +€1,143 | |
| Current assets | 29/58 | €78,782 | €85,101 | +€6,319 | +8.0% |
| Amounts receivable within one year | 40/41 | €212 | €5,893 | +€5,681 | +2681.1% |
| Other amounts receivable | 41 | €212 | €5,893 | +€5,681 | +2681.1% |
| Current investments | 50/53 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €18,453 | €4,089 | -€14,365 | -77.8% |
| Deferred charges and accrued income | 490/1 | €116 | €120 | +€3 | +3.0% |
| Total equity and liabilities | 10/49 | €302,884 | €299,175 | -€3,710 | -1.2% |
| Equity | 10/15 | €17,377 | €13,595 | -€3,782 | -21.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,623 | -€61,405 | -€3,782 | -6.6% |
| Amounts payable | 17/49 | €285,508 | €285,580 | +€72 | 0.0% |
| Amounts payable after more than one year | 17 | €260,869 | €252,224 | -€8,645 | -3.3% |
| Financial debts | 170/4 | €140,869 | €132,224 | -€8,645 | -6.1% |
| Other amounts payable | 178/9 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,109 | €30,056 | +€7,947 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €8,500 | €8,645 | +€145 | +1.7% |
| Trade debts | 44 | - | €439 | +€439 | |
| Suppliers | 440/4 | - | €439 | +€439 | |
| Other amounts payable | 47/48 | €13,609 | €20,972 | +€7,363 | +54.1% |
| Accrued charges and deferred income | 492/3 | €2,530 | €3,300 | +€770 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,971 | €13,244 | +€273 | +2.1% |
| Other operating charges | 640/8 | €845 | €1,110 | +€266 | +31.4% |
| Gross operating margin | 9900 | €14,024 | €11,672 | -€2,352 | -16.8% |
| Operating profit (loss) | 9901 | €208 | -€2,683 | -€2,891 | |
| Financial income | 75/76B | €706 | €1,574 | +€868 | +122.9% |
| Recurring financial income | 75 | €706 | €1,574 | +€868 | +122.9% |
| Financial charges | 65/66B | €4,481 | €2,673 | -€1,807 | -40.3% |
| Recurring financial charges | 65 | €4,481 | €2,673 | -€1,807 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,567 | -€3,782 | -€216 | -6.0% |
| Profit (loss) for the period | 9904 | -€3,567 | -€3,782 | -€216 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,567 | -€3,782 | -€216 | -6.0% |
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 4 October 2026 via checked.be.