SIBECON: 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.
SIBECON
Largest movements
- Tangible fixed assets +€61,385
up €61,385 (+1873.8%), from €3,276 to €64,661
- Cash +€8,372
up €8,372 (+12.5%), from €66,860 to €75,233
mainly Debts after one year (+€45,822) and Net result for the year (+€37,515)
- Receivables within one year +€5,872
up €5,872 (+94.3%), from €6,228 to €12,100
of which Trade receivables: +€6,050
- Debts after one year +€45,822
up €45,822 (+44.2%), from €103,739 to €149,561
of which Financial debts: +€45,822
- Profit (loss) carried forward +€20,832
no longer reported in 2025 (was -€20,832)
- Reserves +€15,850
new in 2025: €15,850
- Other debts -€11,430
down €11,430 (-32.3%), from €35,414 to €23,984
- Current portion of long-term debt +€7,210
up €7,210 (+104.3%), from €6,915 to €14,126
- Gross operating margin +€40,451
up €40,451 (+355.8%), from €11,368 to €51,820
- Depreciation -€7,409
down €7,409 (-50.0%), from €14,807 to €7,398
- Taxes +€3,548
up €3,548 (+2217.6%), from €160 to €3,708
- Financial income -€1,128
no longer reported in 2025 (was €1,128)
- Financial charges +€646
up €646 (+40.1%), from €1,611 to €2,258
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 | €151,541 | €228,342 | +€76,800 | +50.7% |
| Fixed assets | 21/28 | €78,276 | €139,661 | +€61,385 | +78.4% |
| Tangible fixed assets | 22/27 | €3,276 | €64,661 | +€61,385 | +1873.8% |
| Furniture and vehicles | 24 | €3,276 | €64,661 | +€61,385 | +1873.8% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €73,265 | €88,681 | +€15,416 | +21.0% |
| Amounts receivable within one year | 40/41 | €6,228 | €12,100 | +€5,872 | +94.3% |
| Trade receivables | 40 | €6,050 | €12,100 | +€6,050 | +100.0% |
| Other amounts receivable | 41 | €178 | - | -€178 | |
| Cash at bank and in hand | 54/58 | €66,860 | €75,233 | +€8,372 | +12.5% |
| Deferred charges and accrued income | 490/1 | €177 | €1,349 | +€1,172 | +662.8% |
| Total equity and liabilities | 10/49 | €151,541 | €228,342 | +€76,800 | +50.7% |
| Equity | 10/15 | -€2,232 | €34,450 | +€36,682 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €15,850 | +€15,850 | |
| Distributable reserves | 133 | - | €15,850 | +€15,850 | |
| Profit (loss) carried forward | 14 | -€20,832 | - | +€20,832 | |
| Amounts payable | 17/49 | €153,773 | €193,892 | +€40,119 | +26.1% |
| Amounts payable after more than one year | 17 | €103,739 | €149,561 | +€45,822 | +44.2% |
| Financial debts | 170/4 | €1,739 | €47,561 | +€45,822 | +2634.6% |
| Other amounts payable | 178/9 | €102,000 | €102,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,542 | €43,014 | -€5,528 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €6,915 | €14,126 | +€7,210 | +104.3% |
| Trade debts | 44 | €876 | €562 | -€314 | -35.9% |
| Suppliers | 440/4 | €876 | €562 | -€314 | -35.9% |
| Taxes, remuneration and social security | 45 | €5,337 | €4,342 | -€995 | -18.6% |
| Taxes | 450/3 | €5,337 | €4,342 | -€995 | -18.6% |
| Other amounts payable | 47/48 | €35,414 | €23,984 | -€11,430 | -32.3% |
| Accrued charges and deferred income | 492/3 | €1,492 | €1,317 | -€175 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,807 | €7,398 | -€7,409 | -50.0% |
| Other operating charges | 640/8 | €613 | €941 | +€328 | +53.5% |
| Gross operating margin | 9900 | €11,368 | €51,820 | +€40,451 | +355.8% |
| Operating profit (loss) | 9901 | -€4,052 | €43,480 | +€47,533 | |
| Financial income | 75/76B | €1,128 | - | -€1,128 | |
| Recurring financial income | 75 | €1,128 | - | -€1,128 | |
| Financial charges | 65/66B | €1,611 | €2,258 | +€646 | +40.1% |
| Recurring financial charges | 65 | €1,611 | €2,258 | +€646 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,536 | €41,223 | +€45,759 | |
| Income taxes | 67/77 | €160 | €3,708 | +€3,548 | +2217.6% |
| Profit (loss) for the period | 9904 | -€4,696 | €37,515 | +€42,211 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,696 | €37,515 | +€42,211 |
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 9 October 2026 via checked.be.