SIBAVO: 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.
SIBAVO
Largest movements
- Intangible fixed assets -€13,578
down €13,578 (-56.7%), from €23,953 to €10,375
- Receivables within one year +€11,536
up €11,536 (+1.8%), from €627,385 to €638,921
of which Other amounts receivable: +€19,363
- Deferred charges and accrued income -€7,654
down €7,654 (-91.0%), from €8,409 to €755
- Debts after one year -€55,233
down €55,233 (-100%), from €55,233 to €0
- Profit (loss) carried forward +€41,715
up €41,715 (+9.2%), from -€455,077 to -€413,362
- Current portion of long-term debt -€39,453
down €39,453 (-41.7%), from €94,686 to €55,233
- Trade debts +€30,383
up €30,383 (+3.4%), from €886,260 to €916,643
- Tax, wage and social debts +€8,596
up €8,596 (+21.0%), from €40,996 to €49,593
of which Remuneration and social security: +€8,145
- Gross operating margin +€145,406
up €145,406 (+37.0%), from €393,022 to €538,427
- Write-downs -€89,962
down €89,962 (-76.4%), from €117,763 to €27,801
- Staff costs +€75,861
up €75,861 (+22.7%), from €334,706 to €410,567
- Other operating charges +€36,944
up €36,944 (+929%), from €3,976 to €40,920
- Financial charges -€22,377
down €22,377 (-84.8%), from €26,380 to €4,003
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 | €726,585 | €714,730 | -€11,855 | -1.6% |
| Fixed assets | 21/28 | €23,998 | €10,420 | -€13,578 | -56.6% |
| Intangible fixed assets | 21 | €23,953 | €10,375 | -€13,578 | -56.7% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €702,587 | €704,310 | +€1,723 | +0.2% |
| Amounts receivable within one year | 40/41 | €627,385 | €638,921 | +€11,536 | +1.8% |
| Trade receivables | 40 | €566,059 | €558,232 | -€7,826 | -1.4% |
| Other amounts receivable | 41 | €61,326 | €80,689 | +€19,363 | +31.6% |
| Cash at bank and in hand | 54/58 | €66,793 | €64,633 | -€2,159 | -3.2% |
| Deferred charges and accrued income | 490/1 | €8,409 | €755 | -€7,654 | -91.0% |
| Total equity and liabilities | 10/49 | €726,585 | €714,730 | -€11,855 | -1.6% |
| Equity | 10/15 | -€391,312 | -€349,597 | +€41,715 | +10.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €33,764 | €33,764 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,764 | €30,764 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€455,077 | -€413,362 | +€41,715 | +9.2% |
| Amounts payable | 17/49 | €1,117,897 | €1,064,327 | -€53,570 | -4.8% |
| Amounts payable after more than one year | 17 | €55,233 | €0 | -€55,233 | -100% |
| Other amounts payable | 178/9 | €55,233 | €0 | -€55,233 | -100% |
| Amounts payable within one year | 42/48 | €1,042,357 | €1,041,884 | -€473 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €94,686 | €55,233 | -€39,453 | -41.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €886,260 | €916,643 | +€30,383 | +3.4% |
| Suppliers | 440/4 | €886,260 | €916,643 | +€30,383 | +3.4% |
| Taxes, remuneration and social security | 45 | €40,996 | €49,593 | +€8,596 | +21.0% |
| Taxes | 450/3 | €3,509 | €3,960 | +€451 | +12.9% |
| Remuneration and social security | 454/9 | €37,488 | €45,633 | +€8,145 | +21.7% |
| Other amounts payable | 47/48 | €20,414 | €20,414 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20,307 | €22,443 | +€2,136 | +10.5% |
| Remuneration, social security and pensions | 62 | €334,706 | €410,567 | +€75,861 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,201 | €13,578 | -€623 | -4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €117,763 | €27,801 | -€89,962 | -76.4% |
| Other operating charges | 640/8 | €3,976 | €40,920 | +€36,944 | +929% |
| Gross operating margin | 9900 | €393,022 | €538,427 | +€145,406 | +37.0% |
| Operating profit (loss) | 9901 | -€77,624 | €45,562 | +€123,186 | |
| Financial income | 75/76B | €149 | €155 | +€6 | +4.3% |
| Recurring financial income | 75 | €149 | €155 | +€6 | +4.3% |
| Financial charges | 65/66B | €26,380 | €4,003 | -€22,377 | -84.8% |
| Recurring financial charges | 65 | €26,380 | €4,003 | -€22,377 | -84.8% |
| Profit (loss) for the period before taxes | 9903 | -€103,855 | €41,715 | +€145,570 | |
| Profit (loss) for the period | 9904 | -€103,855 | €41,715 | +€145,570 | |
| Profit (loss) for the period to be appropriated | 9905 | -€103,855 | €41,715 | +€145,570 |
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 16 October 2026 via checked.be.