SIARG: 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.
SIARG
Largest movements
- Receivables within one year +€189,420
up €189,420 (+159.6%), from €118,679 to €308,098
of which Trade receivables: +€256,109
- Cash -€114,485
down €114,485 (-59.5%), from €192,268 to €77,783
mainly Trade debts (-€246,949) and Receivables within one year (-€189,420)
- Tangible fixed assets -€4,067
down €4,067 (-43.2%), from €9,423 to €5,356
- Trade debts -€246,949
down €246,949 (-95.3%), from €259,169 to €12,220
- Other debts +€240,625
new in 2025: €240,625
- Tax, wage and social debts +€38,755
up €38,755 (+308.7%), from €12,555 to €51,310
of which Remuneration and social security: +€38,910
- Profit (loss) carried forward +€36,516
up €36,516 (+114.1%), from €32,012 to €68,528
- Staff costs +€213,735
new in 2025: €213,735
- Turnover +€147,568
up €147,568 (+115.9%), from €127,338 to €274,906
- Goods and materials -€107,109
down €107,109 (-99.7%), from €107,398 to €289
- Other operating income +€30,810
up €30,810 (+13693.4%), from €225 to €31,035
- Services and other goods +€25,412
up €25,412 (+201.8%), from €12,593 to €38,005
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 | €323,736 | €392,682 | +€68,946 | +21.3% |
| Fixed assets | 21/28 | €9,423 | €5,356 | -€4,067 | -43.2% |
| Tangible fixed assets | 22/27 | €9,423 | €5,356 | -€4,067 | -43.2% |
| Plant, machinery and equipment | 23 | €9,423 | €5,356 | -€4,067 | -43.2% |
| Current assets | 29/58 | €314,312 | €387,326 | +€73,014 | +23.2% |
| Amounts receivable within one year | 40/41 | €118,679 | €308,098 | +€189,420 | +159.6% |
| Trade receivables | 40 | €11,883 | €267,992 | +€256,109 | +2155.3% |
| Other amounts receivable | 41 | €106,796 | €40,107 | -€66,690 | -62.4% |
| Cash at bank and in hand | 54/58 | €192,268 | €77,783 | -€114,485 | -59.5% |
| Deferred charges and accrued income | 490/1 | €3,366 | €1,445 | -€1,921 | -57.1% |
| Total equity and liabilities | 10/49 | €323,736 | €392,682 | +€68,946 | +21.3% |
| Equity | 10/15 | €52,012 | €88,528 | +€36,516 | +70.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,012 | €68,528 | +€36,516 | +114.1% |
| Amounts payable | 17/49 | €271,724 | €304,154 | +€32,430 | +11.9% |
| Amounts payable within one year | 42/48 | €271,724 | €304,154 | +€32,430 | +11.9% |
| Trade debts | 44 | €259,169 | €12,220 | -€246,949 | -95.3% |
| Suppliers | 440/4 | €259,169 | €12,220 | -€246,949 | -95.3% |
| Taxes, remuneration and social security | 45 | €12,555 | €51,310 | +€38,755 | +308.7% |
| Taxes | 450/3 | €12,555 | €12,400 | -€155 | -1.2% |
| Remuneration and social security | 454/9 | - | €38,910 | +€38,910 | |
| Other amounts payable | 47/48 | - | €240,625 | +€240,625 | |
| Operating income | 70/76A | €127,563 | €305,942 | +€178,378 | +139.8% |
| Turnover | 70 | €127,338 | €274,906 | +€147,568 | +115.9% |
| Other operating income | 74 | €225 | €31,035 | +€30,810 | +13693.4% |
| Operating charges | 60/66A | €129,446 | €256,496 | +€127,050 | +98.1% |
| Goods for resale, raw materials and consumables | 60 | €107,398 | €289 | -€107,109 | -99.7% |
| Purchases | 600/8 | €107,398 | €289 | -€107,109 | -99.7% |
| Services and other goods | 61 | €12,593 | €38,005 | +€25,412 | +201.8% |
| Remuneration, social security and pensions | 62 | - | €213,735 | +€213,735 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,067 | €4,067 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,387 | €400 | -€4,988 | -92.6% |
| Operating profit (loss) | 9901 | -€1,883 | €49,445 | +€51,328 | |
| Financial income | 75/76B | - | €198 | +€198 | |
| Recurring financial income | 75 | - | €198 | +€198 | |
| Other financial income | 752/9 | - | €198 | +€198 | |
| Financial charges | 65/66B | €595 | €727 | +€133 | +22.3% |
| Recurring financial charges | 65 | €595 | €727 | +€133 | +22.3% |
| Other financial charges | 652/9 | €595 | €727 | +€133 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,477 | €48,916 | +€51,393 | |
| Income taxes | 67/77 | - | €12,400 | +€12,400 | |
| Taxes | 670/3 | - | €12,400 | +€12,400 | |
| Profit (loss) for the period | 9904 | -€2,477 | €36,516 | +€38,993 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,477 | €36,516 | +€38,993 |
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 11 October 2026 via checked.be.