SIBAVAR: 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.
What changed
SIBAVAR
NACE 01.461, Pig breeding farms
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€427,842
2024 · €1.4m-€929,400
Equity
€2.5m
2024 · €2.0m+€427,842
Cash
€40,906
2024 · €50,510-€9,604
Balance sheet total
€8.3m
2024 · €8.9m-€576,313
Largest movements
Assets
- Receivables within one year -€538,351
down €538,351 (-54.7%), from €983,345 to €444,994
of which Trade receivables: -€515,695
- Receivables after one year +€311,000
new in 2025: €311,000
- Tangible fixed assets -€218,203
down €218,203 (-3.8%), from €5.7m to €5.5m
of which Land and buildings: -€228,211
- Financial fixed assets -€129,591
down €129,591 (-6.2%), from €2.1m to €2.0m
Equity and liabilities
- Debts after one year -€770,024
down €770,024 (-15.4%), from €5.0m to €4.2m
of which Trade debts: -€391,235
- Short-term financial debts -€533,875
down €533,875 (-95.5%), from €559,267 to €25,392
- Profit (loss) carried forward +€427,842
up €427,842 (+857%), from €49,945 to €477,787
- Advances received +€427,364
new in 2025: €427,364
- Other debts +€175,925
up €175,925 (+119%), from €147,521 to €323,446
Income statement
- Gross operating margin -€947,167
down €947,167 (-44.7%), from €2.1m to €1.2m
- Taxes +€39,816
up €39,816 (+109%), from €36,438 to €76,253
- Financial charges -€34,825
down €34,825 (-30.3%), from €114,857 to €80,032
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.
Result 2024
€1.4m
Gross operating margin
-€947,167
Staff costs
+€4,957
Depreciation
+€3,204
Other operating charges
+€9,108
Other operating items
-€919
Financial income
+€6,408
Financial charges
+€34,825
Taxes
-€39,816
Result 2025
€427,842
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.3m
Investment
+€53,737
Financing
-€1.3m
Cash 2024
€50,510
From operations (derived)
+€1.3m
Net result for the year
+€427,842
Depreciation
+€294,610
Receivables after one year
-€311,000
Receivables within one year
+€538,351
Deferred charges and accrued income
-€8,989
Trade debts
-€97,039
Tax, wage and social debts
+€2,442
Advances received
+€427,364
Other debts
+€175,925
Accrued charges and deferred income
-€163,586
Investment (derived)
+€53,737
Investment in fixed assets (net)
+€53,737
Financing
-€1.3m
Debts after one year
-€770,024
Current portion of long-term debt
-€45,362
Short-term financial debts
-€533,875
Cash 2025
€40,906
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,893,107 | €8,316,794 | -€576,313 | -6.5% |
| Fixed assets | 21/28 | €7,823,929 | €7,475,582 | -€348,347 | -4.5% |
| Intangible fixed assets | 21 | €553 | €0 | -€553 | -100% |
| Tangible fixed assets | 22/27 | €5,721,065 | €5,502,862 | -€218,203 | -3.8% |
| Land and buildings | 22 | €5,245,071 | €5,016,860 | -€228,211 | -4.4% |
| Plant, machinery and equipment | 23 | €474,502 | €432,913 | -€41,589 | -8.8% |
| Furniture and vehicles | 24 | €1,492 | €53,089 | +€51,597 | +3,458% |
| Financial fixed assets | 28 | €2,102,311 | €1,972,720 | -€129,591 | -6.2% |
| Current assets | 29/58 | €1,069,177 | €841,212 | -€227,966 | -21.3% |
| Amounts receivable after more than one year | 29 | - | €311,000 | +€311,000 | |
| Other amounts receivable | 291 | - | €311,000 | +€311,000 | |
| Amounts receivable within one year | 40/41 | €983,345 | €444,994 | -€538,351 | -54.7% |
| Trade receivables | 40 | €810,093 | €294,398 | -€515,695 | -63.7% |
| Other amounts receivable | 41 | €173,252 | €150,597 | -€22,656 | -13.1% |
| Cash at bank and in hand | 54/58 | €50,510 | €40,906 | -€9,604 | -19.0% |
| Deferred charges and accrued income | 490/1 | €35,323 | €44,312 | +€8,989 | +25.4% |
| Total equity and liabilities | 10/49 | €8,893,107 | €8,316,794 | -€576,313 | -6.5% |
| Equity | 10/15 | €2,043,822 | €2,471,664 | +€427,842 | +20.9% |
| Contributions | 10/11 | €1,835,000 | €1,835,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,055 | €3,055 | = | 0.0% |
| Reserves | 13 | €155,822 | €155,822 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,542 | €22,542 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,542 | €22,542 | = | 0.0% |
| Distributable reserves | 133 | €133,280 | €133,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,945 | €477,787 | +€427,842 | +857% |
| Amounts payable | 17/49 | €6,849,285 | €5,845,130 | -€1.0m | -14.7% |
| Amounts payable after more than one year | 17 | €5,010,901 | €4,240,877 | -€770,024 | -15.4% |
| Financial debts | 170/4 | €1,704,071 | €1,325,282 | -€378,789 | -22.2% |
| Trade debts | 175 | €3,306,831 | €2,915,595 | -€391,235 | -11.8% |
| Amounts payable within one year | 42/48 | €1,673,384 | €1,602,838 | -€70,545 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €424,151 | €378,789 | -€45,362 | -10.7% |
| Financial debts | 43 | €559,267 | €25,392 | -€533,875 | -95.5% |
| Credit institutions | 430/8 | €559,267 | €25,392 | -€533,875 | -95.5% |
| Trade debts | 44 | €479,994 | €382,955 | -€97,039 | -20.2% |
| Suppliers | 440/4 | €479,994 | €382,955 | -€97,039 | -20.2% |
| Advances received on contracts in progress | 46 | - | €427,364 | +€427,364 | |
| Taxes, remuneration and social security | 45 | €62,449 | €64,891 | +€2,442 | +3.9% |
| Taxes | 450/3 | €39,963 | €48,945 | +€8,982 | +22.5% |
| Remuneration and social security | 454/9 | €22,486 | €15,947 | -€6,540 | -29.1% |
| Other amounts payable | 47/48 | €147,521 | €323,446 | +€175,925 | +119% |
| Accrued charges and deferred income | 492/3 | €165,000 | €1,414 | -€163,586 | -99.1% |
| Non-recurring operating income | 76A | €1,636,531 | €230,102 | -€1.4m | -85.9% |
| Remuneration, social security and pensions | 62 | €243,988 | €239,030 | -€4,957 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297,814 | €294,610 | -€3,204 | -1.1% |
| Other operating charges | 640/8 | €69,596 | €60,488 | -€9,108 | -13.1% |
| Non-recurring operating charges | 66A | - | €919 | +€919 | |
| Gross operating margin | 9900 | €2,119,934 | €1,172,767 | -€947,167 | -44.7% |
| Operating profit (loss) | 9901 | €1,508,536 | €577,719 | -€930,817 | -61.7% |
| Financial income | 75/76B | €1 | €6,409 | +€6,408 | +902,558% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Non-recurring financial income | 76B | - | €6,409 | +€6,409 | |
| Financial charges | 65/66B | €114,857 | €80,032 | -€34,825 | -30.3% |
| Recurring financial charges | 65 | €114,857 | €80,032 | -€34,825 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €1,393,680 | €504,096 | -€889,584 | -63.8% |
| Income taxes | 67/77 | €36,438 | €76,253 | +€39,816 | +109% |
| Profit (loss) for the period | 9904 | €1,357,242 | €427,842 | -€929,400 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,357,242 | €427,842 | -€929,400 | -68.5% |
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 22 October 2026 via checked.be.