SIC: 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.
SIC
Largest movements
- Current investments +€84,060
new in 2025: €84,060
- Cash -€24,502
down €24,502 (-38.5%), from €63,648 to €39,147
mainly Current investments (-€84,060) and Investment in fixed assets (net) (-€50,732)
- Receivables within one year -€22,982
down €22,982 (-92.7%), from €24,786 to €1,805
of which Other amounts receivable: -€21,534
- Tangible fixed assets +€11,144
up €11,144 (+11.8%), from €94,456 to €105,600
of which Furniture and vehicles: +€12,609
- Profit (loss) carried forward +€17,024
up €17,024 (+27.4%), from €62,137 to €79,162
- Trade debts +€10,119
up €10,119 (+690.5%), from €1,465 to €11,584
- Debts after one year +€7,588
up €7,588 (+14.9%), from €50,763 to €58,351
- Other debts +€4,802
up €4,802 (+48.2%), from €9,956 to €14,758
- Current portion of long-term debt +€3,249
up €3,249 (+10.7%), from €30,366 to €33,615
- Gross operating margin -€10,680
down €10,680 (-14.3%), from €74,638 to €63,957
- Financial charges -€7,927
down €7,927, from €6,793 to -€1,135
- Depreciation +€2,100
up €2,100 (+5.6%), from €37,488 to €39,588
- Taxes -€1,625
down €1,625 (-16.5%), from €9,855 to €8,230
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 | €192,513 | €238,074 | +€45,561 | +23.7% |
| Fixed assets | 21/28 | €94,505 | €105,650 | +€11,144 | +11.8% |
| Tangible fixed assets | 22/27 | €94,456 | €105,600 | +€11,144 | +11.8% |
| Plant, machinery and equipment | 23 | €2,894 | €1,429 | -€1,465 | -50.6% |
| Furniture and vehicles | 24 | €91,562 | €104,171 | +€12,609 | +13.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €98,008 | €132,424 | +€34,417 | +35.1% |
| Amounts receivable within one year | 40/41 | €24,786 | €1,805 | -€22,982 | -92.7% |
| Trade receivables | 40 | €1,450 | €3 | -€1,447 | -99.8% |
| Other amounts receivable | 41 | €23,336 | €1,802 | -€21,534 | -92.3% |
| Current investments | 50/53 | - | €84,060 | +€84,060 | |
| Cash at bank and in hand | 54/58 | €63,648 | €39,147 | -€24,502 | -38.5% |
| Deferred charges and accrued income | 490/1 | €9,573 | €7,413 | -€2,160 | -22.6% |
| Total equity and liabilities | 10/49 | €192,513 | €238,074 | +€45,561 | +23.7% |
| Equity | 10/15 | €84,137 | €101,162 | +€17,024 | +20.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,137 | €79,162 | +€17,024 | +27.4% |
| Amounts payable | 17/49 | €108,376 | €136,912 | +€28,537 | +26.3% |
| Amounts payable after more than one year | 17 | €50,763 | €58,351 | +€7,588 | +14.9% |
| Financial debts | 170/4 | €50,763 | €58,351 | +€7,588 | +14.9% |
| Amounts payable within one year | 42/48 | €46,338 | €67,342 | +€21,004 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €30,366 | €33,615 | +€3,249 | +10.7% |
| Trade debts | 44 | €1,465 | €11,584 | +€10,119 | +690.5% |
| Suppliers | 440/4 | €1,465 | €11,584 | +€10,119 | +690.5% |
| Taxes, remuneration and social security | 45 | €4,551 | €7,386 | +€2,835 | +62.3% |
| Taxes | 450/3 | €4,551 | €7,386 | +€2,835 | +62.3% |
| Other amounts payable | 47/48 | €9,956 | €14,758 | +€4,802 | +48.2% |
| Accrued charges and deferred income | 492/3 | €11,274 | €11,219 | -€56 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,488 | €39,588 | +€2,100 | +5.6% |
| Other operating charges | 640/8 | €818 | €853 | +€35 | +4.3% |
| Gross operating margin | 9900 | €74,638 | €63,957 | -€10,680 | -14.3% |
| Operating profit (loss) | 9901 | €36,332 | €23,517 | -€12,815 | -35.3% |
| Financial income | 75/76B | €387 | €603 | +€216 | +55.7% |
| Recurring financial income | 75 | €387 | €603 | +€216 | +55.7% |
| Financial charges | 65/66B | €6,793 | -€1,135 | -€7,927 | |
| Recurring financial charges | 65 | €6,793 | -€1,135 | -€7,927 | |
| Profit (loss) for the period before taxes | 9903 | €29,926 | €25,254 | -€4,672 | -15.6% |
| Income taxes | 67/77 | €9,855 | €8,230 | -€1,625 | -16.5% |
| Profit (loss) for the period | 9904 | €20,072 | €17,024 | -€3,047 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,072 | €17,024 | -€3,047 | -15.2% |
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.