SIBELHE: what changed
SIBELHE
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€150,094
down €150,094 (-6.3%), from €2.4m to €2.2m
of which Financial debts: -€270,000
- Current portion of long-term debt +€120,000
new in 2025: €120,000
- Profit (loss) carried forward +€54,665
up €54,665 (+37.7%), from €144,948 to €199,613
- Financial charges -€8,555
down €8,555 (-31.9%), from €26,777 to €18,223
- Gross operating margin +€2,220
up €2,220 (+66.5%), from €3,338 to €5,558
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,569,844 | €2,590,326 | +€20,483 | +0.8% |
| Fixed assets | 21/28 | €2,523,090 | €2,523,090 | = | 0.0% |
| Financial fixed assets | 28 | €2,523,090 | €2,523,090 | = | 0.0% |
| Current assets | 29/58 | €46,754 | €67,236 | +€20,483 | +43.8% |
| Amounts receivable within one year | 40/41 | €20,498 | €20,498 | = | 0.0% |
| Other amounts receivable | 41 | €20,498 | €20,498 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,255 | €46,738 | +€20,483 | +78.0% |
| Total equity and liabilities | 10/49 | €2,569,844 | €2,590,326 | +€20,483 | +0.8% |
| Equity | 10/15 | €163,548 | €218,213 | +€54,665 | +33.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,948 | €199,613 | +€54,665 | +37.7% |
| Amounts payable | 17/49 | €2,406,295 | €2,372,113 | -€34,183 | -1.4% |
| Amounts payable after more than one year | 17 | €2,392,144 | €2,242,050 | -€150,094 | -6.3% |
| Financial debts | 170/4 | €540,000 | €270,000 | -€270,000 | -50.0% |
| Other amounts payable | 178/9 | €1,852,144 | €1,972,050 | +€119,906 | +6.5% |
| Amounts payable within one year | 42/48 | - | €120,000 | +€120,000 | |
| Current portion of amounts payable after more than one year | 42 | - | €120,000 | +€120,000 | |
| Accrued charges and deferred income | 492/3 | €14,152 | €10,063 | -€4,089 | -28.9% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €3,338 | €5,558 | +€2,220 | +66.5% |
| Operating profit (loss) | 9901 | €2,371 | €4,560 | +€2,189 | +92.4% |
| Financial income | 75/76B | €68,328 | €68,328 | = | 0.0% |
| Recurring financial income | 75 | €68,328 | €68,328 | = | 0.0% |
| Financial charges | 65/66B | €26,777 | €18,223 | -€8,555 | -31.9% |
| Recurring financial charges | 65 | €26,777 | €18,223 | -€8,555 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €43,921 | €54,665 | +€10,744 | +24.5% |
| Profit (loss) for the period | 9904 | €43,921 | €54,665 | +€10,744 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,921 | €54,665 | +€10,744 | +24.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.