SIBELEX: what changed
Two fiscal 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.
SIBELEX
Largest movements
- Cash -€10,357
down €10,357 (-17.8%), from €58,310 to €47,954
mainly Other debts (-€7,132) and Net result for the year (-€6,983)
- Receivables within one year -€2,042
down €2,042 (-6.5%), from €31,460 to €29,418
of which Trade receivables: -€4,235
- Other debts -€7,132
down €7,132 (-12.5%), from €57,024 to €49,892
- Profit (loss) carried forward -€6,983
down €6,983, from €1,474 to -€5,509
- Gross operating margin -€13,582
down €13,582 (-90.8%), from €14,960 to €1,378
- Taxes -€3,642
down €3,642 (-92.2%), from €3,949 to €307
- Depreciation +€3,373
up €3,373 (+126.2%), from €2,672 to €6,044
- Other operating charges +€244
up €244 (+17.0%), from €1,438 to €1,682
- Staff costs +€151
no longer reported in 2025 (was -€151)
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 | €128,906 | €117,180 | -€11,726 | -9.1% |
| Fixed assets | 21/28 | €39,136 | €39,808 | +€672 | +1.7% |
| Tangible fixed assets | 22/27 | €1,969 | €2,641 | +€672 | +34.2% |
| Furniture and vehicles | 24 | €1,969 | €2,641 | +€672 | +34.2% |
| Financial fixed assets | 28 | €37,167 | €37,167 | = | 0.0% |
| Current assets | 29/58 | €89,770 | €77,372 | -€12,398 | -13.8% |
| Amounts receivable within one year | 40/41 | €31,460 | €29,418 | -€2,042 | -6.5% |
| Trade receivables | 40 | €31,460 | €27,225 | -€4,235 | -13.5% |
| Other amounts receivable | 41 | - | €2,193 | +€2,193 | |
| Cash at bank and in hand | 54/58 | €58,310 | €47,954 | -€10,357 | -17.8% |
| Total equity and liabilities | 10/49 | €128,906 | €117,180 | -€11,726 | -9.1% |
| Equity | 10/15 | €66,834 | €59,851 | -€6,983 | -10.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €57,300 | €57,300 | = | 0.0% |
| Distributable reserves | 133 | €57,300 | €57,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,474 | -€5,509 | -€6,983 | |
| Amounts payable | 17/49 | €62,072 | €57,329 | -€4,743 | -7.6% |
| Amounts payable within one year | 42/48 | €62,072 | €57,329 | -€4,743 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €833 | +€833 | |
| Trade debts | 44 | €1,979 | €2,658 | +€679 | +34.3% |
| Suppliers | 440/4 | €1,979 | €2,658 | +€679 | +34.3% |
| Taxes, remuneration and social security | 45 | €3,069 | €3,946 | +€877 | +28.6% |
| Taxes | 450/3 | €3,069 | €3,946 | +€877 | +28.6% |
| Other amounts payable | 47/48 | €57,024 | €49,892 | -€7,132 | -12.5% |
| Non-recurring operating income | 76A | - | €796 | +€796 | |
| Remuneration, social security and pensions | 62 | -€151 | - | +€151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,672 | €6,044 | +€3,373 | +126.2% |
| Other operating charges | 640/8 | €1,438 | €1,682 | +€244 | +17.0% |
| Gross operating margin | 9900 | €14,960 | €1,378 | -€13,582 | -90.8% |
| Operating profit (loss) | 9901 | €11,001 | -€6,348 | -€17,350 | |
| Financial charges | 65/66B | €438 | €328 | -€109 | -25.0% |
| Recurring financial charges | 65 | €438 | €201 | -€236 | -54.0% |
| Non-recurring financial charges | 66B | - | €127 | +€127 | |
| Profit (loss) for the period before taxes | 9903 | €10,564 | -€6,676 | -€17,240 | |
| Income taxes | 67/77 | €3,949 | €307 | -€3,642 | -92.2% |
| Profit (loss) for the period | 9904 | €6,615 | -€6,983 | -€13,598 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,615 | -€6,983 | -€13,598 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.