Siap Brokers: 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.
Siap Brokers
Largest movements
- Cash +€17,523
up €17,523 (+17.8%), from €98,351 to €115,874
mainly Net result for the year (+€77,014) and Other debts (+€64,926)
- Receivables within one year +€6,245
up €6,245 (+74.8%), from €8,348 to €14,593
of which Trade receivables: +€11,843
- Tangible fixed assets -€3,695
down €3,695 (-8.6%), from €43,186 to €39,491
of which Land and buildings: -€1,940
- Other debts +€64,926
up €64,926 (+4,496%), from €1,444 to €66,370
- Reserves -€46,148
down €46,148 (-39.8%), from €115,938 to €69,790
- Gross operating margin +€37,298
up €37,298 (+58.2%), from €64,111 to €101,409
- Taxes +€5,971
up €5,971 (+45.0%), from €13,279 to €19,250
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 | €150,847 | €170,388 | +€19,541 | +13.0% |
| Fixed assets | 21/28 | €43,186 | €39,491 | -€3,695 | -8.6% |
| Tangible fixed assets | 22/27 | €43,186 | €39,491 | -€3,695 | -8.6% |
| Land and buildings | 22 | €40,634 | €38,693 | -€1,940 | -4.8% |
| Furniture and vehicles | 24 | €2,552 | €798 | -€1,755 | -68.8% |
| Current assets | 29/58 | €107,661 | €130,897 | +€23,236 | +21.6% |
| Amounts receivable within one year | 40/41 | €8,348 | €14,593 | +€6,245 | +74.8% |
| Trade receivables | 40 | €0 | €11,843 | +€11,843 | |
| Other amounts receivable | 41 | €8,348 | €2,750 | -€5,598 | -67.1% |
| Cash at bank and in hand | 54/58 | €98,351 | €115,874 | +€17,523 | +17.8% |
| Deferred charges and accrued income | 490/1 | €962 | €430 | -€531 | -55.3% |
| Total equity and liabilities | 10/49 | €150,847 | €170,388 | +€19,541 | +13.0% |
| Equity | 10/15 | €140,938 | €94,790 | -€46,148 | -32.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €115,938 | €69,790 | -€46,148 | -39.8% |
| Distributable reserves | 133 | €115,938 | €69,790 | -€46,148 | -39.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,909 | €75,598 | +€65,689 | +663% |
| Amounts payable within one year | 42/48 | €9,909 | €75,598 | +€65,689 | +663% |
| Trade debts | 44 | €710 | €1,425 | +€716 | +101% |
| Suppliers | 440/4 | €710 | €1,425 | +€716 | +101% |
| Taxes, remuneration and social security | 45 | €7,755 | €7,803 | +€48 | +0.6% |
| Taxes | 450/3 | €7,755 | €7,803 | +€48 | +0.6% |
| Other amounts payable | 47/48 | €1,444 | €66,370 | +€64,926 | +4,496% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,571 | €3,695 | +€125 | +3.5% |
| Other operating charges | 640/8 | €958 | €1,298 | +€339 | +35.4% |
| Gross operating margin | 9900 | €64,111 | €101,409 | +€37,298 | +58.2% |
| Operating profit (loss) | 9901 | €59,582 | €96,416 | +€36,834 | +61.8% |
| Financial charges | 65/66B | €139 | €152 | +€13 | +9.1% |
| Recurring financial charges | 65 | €139 | €152 | +€13 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €59,442 | €96,264 | +€36,821 | +61.9% |
| Income taxes | 67/77 | €13,279 | €19,250 | +€5,971 | +45.0% |
| Profit (loss) for the period | 9904 | €46,163 | €77,014 | +€30,851 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,163 | €77,014 | +€30,851 | +66.8% |
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 29 October 2026 via checked.be.