SICA: what changed
Two financial 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.
SICA
Largest movements
- Current investments +€1.9m
up €1.9m (+20.6%), from €9.1m to €11.0m
- Revaluation surpluses +€1.9m
up €1.9m (+22.2%), from €8.5m to €10.3m
- Turnover -€31,326
no longer reported in 2025 (was €31,326)
- Gross operating margin -€30,948
down €30,948, from €9,587 to -€21,361
- Financial charges -€7,469
down €7,469 (-56.5%), from €13,227 to €5,758
- Financial income +€4,686
up €4,686 (+26.3%), from €17,842 to €22,528
- Taxes -€1,109
down €1,109 (-91.2%), from €1,216 to €107
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.
Derived cash bridge
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 | €9,189,327 | €11,035,052 | +€1.8m | +20.1% |
| Fixed assets | 21/28 | €49,361 | €49,361 | = | 0.0% |
| Tangible fixed assets | 22/27 | €49,361 | €49,361 | = | 0.0% |
| Land and buildings | 22 | €49,361 | €49,361 | = | 0.0% |
| Current assets | 29/58 | €9,139,966 | €10,985,691 | +€1.8m | +20.2% |
| Amounts receivable within one year | 40/41 | €1,142 | €1,768 | +€626 | +54.8% |
| Trade receivables | 40 | €520 | - | -€520 | |
| Other amounts receivable | 41 | €622 | €1,768 | +€1,146 | +184% |
| Current investments | 50/53 | €9,086,922 | €10,960,571 | +€1.9m | +20.6% |
| Cash at bank and in hand | 54/58 | €51,902 | €23,352 | -€28,550 | -55.0% |
| Total equity and liabilities | 10/49 | €9,189,327 | €11,035,052 | +€1.8m | +20.1% |
| Equity | 10/15 | €9,131,306 | €10,998,193 | +€1.9m | +20.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €8,455,535 | €10,329,184 | +€1.9m | +22.2% |
| Reserves | 13 | €613,798 | €607,036 | -€6,762 | -1.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €607,601 | €600,839 | -€6,762 | -1.1% |
| Amounts payable | 17/49 | €58,021 | €36,859 | -€21,162 | -36.5% |
| Amounts payable within one year | 42/48 | €58,021 | €36,859 | -€21,162 | -36.5% |
| Trade debts | 44 | €8,171 | €1,218 | -€6,953 | -85.1% |
| Suppliers | 440/4 | €8,171 | €1,218 | -€6,953 | -85.1% |
| Other amounts payable | 47/48 | €49,850 | €35,641 | -€14,209 | -28.5% |
| Turnover | 70 | €31,326 | - | -€31,326 | |
| Goods, raw materials, services and sundry goods | 60/61 | €21,739 | €21,361 | -€378 | -1.7% |
| Other operating charges | 640/8 | €1,758 | €2,064 | +€306 | +17.4% |
| Gross operating margin | 9900 | €9,587 | -€21,361 | -€30,948 | |
| Operating profit (loss) | 9901 | €7,829 | -€23,425 | -€31,254 | |
| Financial income | 75/76B | €17,842 | €22,528 | +€4,686 | +26.3% |
| Recurring financial income | 75 | €17,842 | €22,528 | +€4,686 | +26.3% |
| Financial charges | 65/66B | €13,227 | €5,758 | -€7,469 | -56.5% |
| Recurring financial charges | 65 | €13,227 | €5,758 | -€7,469 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €12,444 | -€6,655 | -€19,099 | |
| Income taxes | 67/77 | €1,216 | €107 | -€1,109 | -91.2% |
| Profit (loss) for the period | 9904 | €11,228 | -€6,762 | -€17,990 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,228 | -€6,762 | -€17,990 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.