SIB-BEL: 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.
SIB-BEL
Largest movements
- Stocks and contracts +€54,640
new in 2025: €54,640
- Receivables within one year +€31,362
up €31,362 (+174%), from €18,042 to €49,403
of which Trade receivables: +€31,795
- Deferred charges and accrued income -€3,137
no longer reported in 2025 (was €3,137)
- Cash +€2,098
up €2,098 (+6.3%), from €33,332 to €35,430
mainly Trade debts (+€40,105) and Net result for the year (+€22,768)
- Tangible fixed assets -€2,081
down €2,081 (-62.0%), from €3,355 to €1,274
of which Furniture and vehicles: -€3,111
- Trade debts +€40,105
new in 2025: €40,105
- Profit (loss) carried forward +€22,768
up €22,768 (+85.5%), from €26,623 to €49,391
- Advances received +€18,943
up €18,943 (+247%), from €7,672 to €26,615
- Tax, wage and social debts +€10,591
up €10,591 (+123%), from €8,611 to €19,202
- Other debts -€8,625
down €8,625 (-69.2%), from €12,460 to €3,835
- Gross operating margin -€9,507
down €9,507 (-24.0%), from €39,599 to €30,092
- Depreciation -€3,087
down €3,087 (-92.1%), from €3,351 to €264
- Other operating charges -€2,022
down €2,022 (-94.5%), from €2,140 to €118
- Financial income +€988
up €988 (+3,294,300%), from €0 to €988
- Taxes -€969
down €969 (-13.7%), from €7,063 to €6,095
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 | €59,366 | €143,148 | +€83,782 | +141% |
| Fixed assets | 21/28 | €4,855 | €3,674 | -€1,181 | -24.3% |
| Tangible fixed assets | 22/27 | €3,355 | €1,274 | -€2,081 | -62.0% |
| Plant, machinery and equipment | 23 | - | €1,030 | +€1,030 | |
| Furniture and vehicles | 24 | €3,355 | €244 | -€3,111 | -92.7% |
| Financial fixed assets | 28 | €1,500 | €2,400 | +€900 | +60.0% |
| Current assets | 29/58 | €54,511 | €139,474 | +€84,963 | +156% |
| Stocks and contracts in progress | 3 | - | €54,640 | +€54,640 | |
| Stocks | 30/36 | - | €54,640 | +€54,640 | |
| Amounts receivable within one year | 40/41 | €18,042 | €49,403 | +€31,362 | +174% |
| Trade receivables | 40 | €17,609 | €49,403 | +€31,795 | +181% |
| Other amounts receivable | 41 | €433 | - | -€433 | |
| Cash at bank and in hand | 54/58 | €33,332 | €35,430 | +€2,098 | +6.3% |
| Deferred charges and accrued income | 490/1 | €3,137 | - | -€3,137 | |
| Total equity and liabilities | 10/49 | €59,366 | €143,148 | +€83,782 | +141% |
| Equity | 10/15 | €30,623 | €53,391 | +€22,768 | +74.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,623 | €49,391 | +€22,768 | +85.5% |
| Amounts payable | 17/49 | €28,743 | €89,756 | +€61,013 | +212% |
| Amounts payable within one year | 42/48 | €28,743 | €89,756 | +€61,013 | +212% |
| Trade debts | 44 | - | €40,105 | +€40,105 | |
| Suppliers | 440/4 | - | €40,105 | +€40,105 | |
| Advances received on contracts in progress | 46 | €7,672 | €26,615 | +€18,943 | +247% |
| Taxes, remuneration and social security | 45 | €8,611 | €19,202 | +€10,591 | +123% |
| Taxes | 450/3 | €8,611 | €19,202 | +€10,591 | +123% |
| Other amounts payable | 47/48 | €12,460 | €3,835 | -€8,625 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,351 | €264 | -€3,087 | -92.1% |
| Other operating charges | 640/8 | €2,140 | €118 | -€2,022 | -94.5% |
| Non-recurring operating charges | 66A | - | €1,217 | +€1,217 | |
| Gross operating margin | 9900 | €39,599 | €30,092 | -€9,507 | -24.0% |
| Operating profit (loss) | 9901 | €34,108 | €28,493 | -€5,615 | -16.5% |
| Financial income | 75/76B | €0 | €988 | +€988 | +3,294,300% |
| Recurring financial income | 75 | €0 | €988 | +€988 | +3,294,300% |
| Financial charges | 65/66B | €422 | €618 | +€197 | +46.6% |
| Recurring financial charges | 65 | €422 | €618 | +€197 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €33,686 | €28,863 | -€4,823 | -14.3% |
| Income taxes | 67/77 | €7,063 | €6,095 | -€969 | -13.7% |
| Profit (loss) for the period | 9904 | €26,623 | €22,768 | -€3,855 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,623 | €22,768 | -€3,855 | -14.5% |
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 21 October 2026 via checked.be.