SIBW: 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.
SIBW
Largest movements
- Cash +€46,342
up €46,342 (+48.1%), from €96,280 to €142,623
mainly Other debts (+€100,391) and Net result for the year (+€40,541)
- Receivables within one year -€16,538
down €16,538 (-82.7%), from €19,995 to €3,458
- Tangible fixed assets -€2,844
down €2,844 (-43.4%), from €6,557 to €3,714
- Other debts +€100,391
up €100,391 (+12548.9%), from €800 to €101,191
- Profit (loss) carried forward -€74,459
down €74,459 (-99.3%), from €74,995 to €537
- Gross operating margin -€19,733
down €19,733 (-24.9%), from €79,131 to €59,397
- Taxes -€2,519
down €2,519 (-14.8%), from €17,061 to €14,542
- Financial income -€872
no longer reported in 2025 (was €872)
- Depreciation +€870
up €870 (+44.1%), from €1,973 to €2,844
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 | €122,833 | €149,794 | +€26,961 | +21.9% |
| Fixed assets | 21/28 | €6,557 | €3,714 | -€2,844 | -43.4% |
| Tangible fixed assets | 22/27 | €6,557 | €3,714 | -€2,844 | -43.4% |
| Plant, machinery and equipment | 23 | €6,557 | €3,714 | -€2,844 | -43.4% |
| Current assets | 29/58 | €116,276 | €146,080 | +€29,805 | +25.6% |
| Amounts receivable within one year | 40/41 | €19,995 | €3,458 | -€16,538 | -82.7% |
| Other amounts receivable | 41 | €19,995 | €3,458 | -€16,538 | -82.7% |
| Cash at bank and in hand | 54/58 | €96,280 | €142,623 | +€46,342 | +48.1% |
| Total equity and liabilities | 10/49 | €122,833 | €149,794 | +€26,961 | +21.9% |
| Equity | 10/15 | €117,995 | €43,537 | -€74,459 | -63.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,995 | €537 | -€74,459 | -99.3% |
| Amounts payable | 17/49 | €4,838 | €106,257 | +€101,420 | +2096.4% |
| Amounts payable within one year | 42/48 | €4,838 | €106,257 | +€101,420 | +2096.4% |
| Trade debts | 44 | €162 | €1,190 | +€1,028 | +634.7% |
| Suppliers | 440/4 | €162 | €1,190 | +€1,028 | +634.7% |
| Taxes, remuneration and social security | 45 | €3,876 | €3,876 | = | 0.0% |
| Taxes | 450/3 | €3,876 | €3,876 | = | 0.0% |
| Other amounts payable | 47/48 | €800 | €101,191 | +€100,391 | +12548.9% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,973 | €2,844 | +€870 | +44.1% |
| Other operating charges | 640/8 | €2,126 | €1,425 | -€701 | -33.0% |
| Gross operating margin | 9900 | €79,131 | €59,397 | -€19,733 | -24.9% |
| Operating profit (loss) | 9901 | €75,031 | €55,129 | -€19,902 | -26.5% |
| Financial income | 75/76B | €872 | - | -€872 | |
| Recurring financial income | 75 | €872 | - | -€872 | |
| Financial charges | 65/66B | €65 | €45 | -€20 | -30.8% |
| Recurring financial charges | 65 | €65 | €45 | -€20 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €75,837 | €55,084 | -€20,754 | -27.4% |
| Income taxes | 67/77 | €17,061 | €14,542 | -€2,519 | -14.8% |
| Profit (loss) for the period | 9904 | €58,776 | €40,541 | -€18,235 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,776 | €40,541 | -€18,235 | -31.0% |
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 6 October 2026 via checked.be.