Siblu Belgium: what changed
What changed
Siblu Belgium
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€245,933
2024 · €64,160-€310,093
Equity
€1.2m
2024 · €1.4m-€245,933
Cash
€17,637
2024 · €409+€17,228
Balance sheet total
€3.6m
2024 · €3.7m-€85,184
Largest movements
Assets
- Receivables within one year +€290,795
up €290,795 (+82.2%), from €353,619 to €644,414
of which Other amounts receivable: +€433,453
- Tangible fixed assets -€262,199
down €262,199 (-17.6%), from €1.5m to €1.2m
of which Furniture and vehicles: -€251,759
- Financial fixed assets -€100,000
down €100,000 (-5.7%), from €1.7m to €1.6m
- Formation expenses -€96,687
down €96,687 (-100%), from €96,687 to €0
- Stocks and contracts +€68,728
up €68,728 (+366%), from €18,788 to €87,516
Equity and liabilities
- Other debts +€644,338
up €644,338 (+48.7%), from €1.3m to €2.0m
- Advances received -€248,379
down €248,379 (-100%), from €248,379 to €0
- Profit (loss) carried forward -€245,933
new in 2025: -€245,933
- Debts after one year -€100,592
down €100,592 (-56.3%), from €178,680 to €78,088
- Current portion of long-term debt -€73,116
down €73,116 (-43.9%), from €166,502 to €93,386
Income statement
- Staff costs +€265,150
new in 2025: €265,150
- Depreciation -€36,795
down €36,795 (-37.4%), from €98,334 to €61,540
- Taxes -€25,393
down €25,393, from €21,068 to -€4,325
- Financial charges +€19,497
up €19,497 (+44.3%), from €44,013 to €63,510
- Financial income +€16,764
up €16,764 (+7,248%), from €231 to €16,995
of which Non-recurring financial income: +€15,000
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.
Result 2024
€64,160
Gross operating margin
-€10,485
Staff costs
-€265,150
Depreciation
+€36,795
Other operating charges
+€2,847
Other operating items
-€96,758
Financial income
+€16,764
Financial charges
-€19,497
Taxes
+€25,393
Result 2025
-€245,933
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€196,526
Investment
+€397,347
Financing
-€183,593
Cash 2024
€409
From operations (derived)
-€196,526
Net result for the year
-€245,933
Depreciation
+€61,540
Stocks and contracts
-€68,728
Receivables within one year
-€290,795
Deferred charges and accrued income
+€3,048
Trade debts
+€9,060
Tax, wage and social debts
-€61,311
Advances received
-€248,379
Other debts
+€644,338
Accrued charges and deferred income
+€634
Investment (derived)
+€397,347
Investment in fixed assets (net)
+€397,347
Financing
-€183,593
Debts after one year
-€100,592
Current portion of long-term debt
-€73,116
Short-term financial debts
-€9,886
Cash 2025
€17,637
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,706,999 | €3,621,816 | -€85,184 | -2.3% |
| Formation expenses | 20 | €96,687 | €0 | -€96,687 | -100% |
| Fixed assets | 21/28 | €3,230,909 | €2,868,710 | -€362,199 | -11.2% |
| Tangible fixed assets | 22/27 | €1,486,121 | €1,223,922 | -€262,199 | -17.6% |
| Land and buildings | 22 | €937,575 | €930,675 | -€6,900 | -0.7% |
| Plant, machinery and equipment | 23 | €41,482 | €37,942 | -€3,540 | -8.5% |
| Furniture and vehicles | 24 | €507,064 | €255,305 | -€251,759 | -49.7% |
| Financial fixed assets | 28 | €1,744,788 | €1,644,788 | -€100,000 | -5.7% |
| Current assets | 29/58 | €379,403 | €753,106 | +€373,703 | +98.5% |
| Stocks and contracts in progress | 3 | €18,788 | €87,516 | +€68,728 | +366% |
| Stocks | 30/36 | €18,788 | €87,516 | +€68,728 | +366% |
| Amounts receivable within one year | 40/41 | €353,619 | €644,414 | +€290,795 | +82.2% |
| Trade receivables | 40 | €302,104 | €159,445 | -€142,659 | -47.2% |
| Other amounts receivable | 41 | €51,516 | €484,969 | +€433,453 | +841% |
| Cash at bank and in hand | 54/58 | €409 | €17,637 | +€17,228 | +4,211% |
| Deferred charges and accrued income | 490/1 | €6,586 | €3,539 | -€3,048 | -46.3% |
| Total equity and liabilities | 10/49 | €3,706,999 | €3,621,816 | -€85,184 | -2.3% |
| Equity | 10/15 | €1,417,887 | €1,171,954 | -€245,933 | -17.3% |
| Contributions | 10/11 | €1,070,381 | €1,070,381 | = | 0.0% |
| Reserves | 13 | €347,506 | €347,506 | = | 0.0% |
| Distributable reserves | 133 | €347,506 | €347,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€245,933 | -€245,933 | |
| Amounts payable | 17/49 | €2,289,112 | €2,449,862 | +€160,749 | +7.0% |
| Amounts payable after more than one year | 17 | €178,680 | €78,088 | -€100,592 | -56.3% |
| Financial debts | 170/4 | €178,680 | €78,088 | -€100,592 | -56.3% |
| Amounts payable within one year | 42/48 | €2,106,518 | €2,367,225 | +€260,707 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €166,502 | €93,386 | -€73,116 | -43.9% |
| Financial debts | 43 | €209,886 | €200,000 | -€9,886 | -4.7% |
| Credit institutions | 430/8 | €9,886 | €0 | -€9,886 | -100% |
| Other loans | 439 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €52,897 | €61,957 | +€9,060 | +17.1% |
| Suppliers | 440/4 | €52,897 | €61,957 | +€9,060 | +17.1% |
| Advances received on contracts in progress | 46 | €248,379 | €0 | -€248,379 | -100% |
| Taxes, remuneration and social security | 45 | €106,052 | €44,741 | -€61,311 | -57.8% |
| Taxes | 450/3 | €106,052 | €19,090 | -€86,962 | -82.0% |
| Remuneration and social security | 454/9 | - | €25,651 | +€25,651 | |
| Other amounts payable | 47/48 | €1,322,803 | €1,967,141 | +€644,338 | +48.7% |
| Accrued charges and deferred income | 492/3 | €3,915 | €4,549 | +€634 | +16.2% |
| Non-recurring operating income | 76A | €0 | €66,738 | +€66,738 | |
| Remuneration, social security and pensions | 62 | - | €265,150 | +€265,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,334 | €61,540 | -€36,795 | -37.4% |
| Other operating charges | 640/8 | €5,467 | €2,620 | -€2,847 | -52.1% |
| Non-recurring operating charges | 66A | - | €96,758 | +€96,758 | |
| Gross operating margin | 9900 | €232,811 | €222,326 | -€10,485 | -4.5% |
| Operating profit (loss) | 9901 | €129,010 | -€203,742 | -€332,752 | |
| Financial income | 75/76B | €231 | €16,995 | +€16,764 | +7,248% |
| Recurring financial income | 75 | €231 | €1,995 | +€1,764 | +763% |
| Non-recurring financial income | 76B | - | €15,000 | +€15,000 | |
| Financial charges | 65/66B | €44,013 | €63,510 | +€19,497 | +44.3% |
| Recurring financial charges | 65 | €44,013 | €63,510 | +€19,497 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €85,228 | -€250,258 | -€335,486 | |
| Income taxes | 67/77 | €21,068 | -€4,325 | -€25,393 | |
| Profit (loss) for the period | 9904 | €64,160 | -€245,933 | -€310,093 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,160 | -€245,933 | -€310,093 |
Next steps
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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 6 November 2026 via checked.be.