SIAS: 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.
SIAS
Largest movements
- Tangible fixed assets -€28,985
down €28,985 (-28.0%), from €103,347 to €74,362
of which Leasing and similar rights: -€28,148
- Receivables within one year -€24,331
down €24,331 (-26.3%), from €92,676 to €68,345
of which Trade receivables: -€34,794
- Cash -€3,651
down €3,651 (-43.4%), from €8,414 to €4,763
mainly Trade debts (-€46,755) and Debts after one year (-€16,583)
- Trade debts -€46,755
down €46,755 (-83.0%), from €56,316 to €9,561
of which Bills of exchange payable: -€51,582
- Debts after one year -€16,583
down €16,583 (-30.9%), from €53,640 to €37,057
- Tax, wage and social debts +€3,694
up €3,694 (+57.5%), from €6,422 to €10,116
- Turnover -€100,311
down €100,311 (-44.9%), from €223,311 to €123,000
- Purchases and services -€94,606
down €94,606 (-52.1%), from €181,601 to €86,995
- Taxes -€8,491
down €8,491 (-99.0%), from €8,577 to €86
- Gross operating margin -€5,705
down €5,705 (-13.7%), from €41,710 to €36,005
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.
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 | €204,834 | €147,470 | -€57,364 | -28.0% |
| Fixed assets | 21/28 | €103,347 | €74,362 | -€28,985 | -28.0% |
| Tangible fixed assets | 22/27 | €103,347 | €74,362 | -€28,985 | -28.0% |
| Plant, machinery and equipment | 23 | €1,674 | €837 | -€837 | -50.0% |
| Leasing and similar rights | 25 | €101,673 | €73,525 | -€28,148 | -27.7% |
| Current assets | 29/58 | €101,487 | €73,108 | -€28,379 | -28.0% |
| Amounts receivable within one year | 40/41 | €92,676 | €68,345 | -€24,331 | -26.3% |
| Trade receivables | 40 | €43,308 | €8,514 | -€34,794 | -80.3% |
| Other amounts receivable | 41 | €49,369 | €59,831 | +€10,463 | +21.2% |
| Cash at bank and in hand | 54/58 | €8,414 | €4,763 | -€3,651 | -43.4% |
| Deferred charges and accrued income | 490/1 | €397 | - | -€397 | |
| Total equity and liabilities | 10/49 | €204,834 | €147,470 | -€57,364 | -28.0% |
| Equity | 10/15 | €71,319 | €71,662 | +€344 | +0.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,319 | €64,662 | +€344 | +0.5% |
| Amounts payable | 17/49 | €133,516 | €75,808 | -€57,708 | -43.2% |
| Amounts payable after more than one year | 17 | €53,640 | €37,057 | -€16,583 | -30.9% |
| Financial debts | 170/4 | €53,640 | €37,057 | -€16,583 | -30.9% |
| Amounts payable within one year | 42/48 | €79,875 | €38,750 | -€41,125 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €17,138 | €19,074 | +€1,936 | +11.3% |
| Trade debts | 44 | €56,316 | €9,561 | -€46,755 | -83.0% |
| Suppliers | 440/4 | €4,734 | €9,561 | +€4,827 | +102% |
| Bills of exchange payable | 441 | €51,582 | - | -€51,582 | |
| Taxes, remuneration and social security | 45 | €6,422 | €10,116 | +€3,694 | +57.5% |
| Taxes | 450/3 | €6,422 | €10,116 | +€3,694 | +57.5% |
| Turnover | 70 | €223,311 | €123,000 | -€100,311 | -44.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €181,601 | €86,995 | -€94,606 | -52.1% |
| Remuneration, social security and pensions | 62 | - | €1,530 | +€1,530 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,091 | €28,985 | -€106 | -0.4% |
| Other operating charges | 640/8 | €215 | €2,044 | +€1,828 | +850% |
| Gross operating margin | 9900 | €41,710 | €36,005 | -€5,705 | -13.7% |
| Operating profit (loss) | 9901 | €12,404 | €3,446 | -€8,958 | -72.2% |
| Financial charges | 65/66B | €3,537 | €3,016 | -€520 | -14.7% |
| Recurring financial charges | 65 | €3,537 | €3,016 | -€520 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €8,867 | €430 | -€8,437 | -95.2% |
| Income taxes | 67/77 | €8,577 | €86 | -€8,491 | -99.0% |
| Profit (loss) for the period | 9904 | €290 | €344 | +€54 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €290 | €344 | +€54 | +18.4% |
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.