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
- Tangible fixed assets +€1.7m
up €1.7m (+319%), from €544,801 to €2.3m
of which Land and buildings: +€1.8m
- Financial fixed assets -€257,800
down €257,800 (-51.0%), from €505,714 to €247,914
- Cash +€247,928
up €247,928 (+15,737%), from €1,575 to €249,503
mainly Contributions, distributions and other (+€1.5m) and Net result for the year (+€297,491)
- Receivables within one year +€240,356
up €240,356 (+317%), from €75,871 to €316,227
of which Trade receivables: +€137,012
- Contributions +€1.5m
up €1.5m (+1,463%), from €99,157 to €1.5m
- Reserves +€297,491
up €297,491 (+62.7%), from €474,796 to €772,287
of which Tax-exempt reserves: +€350,040
- Provisions +€140,004
up €140,004 (+525%), from €26,661 to €166,665
- Debts after one year +€138,319
up €138,319 (+36.7%), from €377,287 to €515,606
- Other debts -€95,590
down €95,590 (-100%), from €95,590 to €0
- Gross operating margin +€465,187
up €465,187 (+493%), from €94,282 to €559,468
- Financial income +€31,104
up €31,104 (+1,233%), from €2,523 to €33,627
of which Non-recurring financial income: +€33,627
- Depreciation -€25,793
down €25,793 (-42.5%), from €60,760 to €34,967
- Financial charges +€10,219
up €10,219 (+46.1%), from €22,171 to €32,390
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 | €1,127,961 | €3,096,640 | +€2.0m | +175% |
| Fixed assets | 21/28 | €1,050,515 | €2,528,939 | +€1.5m | +141% |
| Tangible fixed assets | 22/27 | €544,801 | €2,281,025 | +€1.7m | +319% |
| Land and buildings | 22 | €502,660 | €2,281,025 | +€1.8m | +354% |
| Other tangible fixed assets | 26 | €42,141 | €0 | -€42,141 | -100% |
| Financial fixed assets | 28 | €505,714 | €247,914 | -€257,800 | -51.0% |
| Current assets | 29/58 | €77,446 | €567,701 | +€490,255 | +633% |
| Amounts receivable within one year | 40/41 | €75,871 | €316,227 | +€240,356 | +317% |
| Trade receivables | 40 | - | €137,012 | +€137,012 | |
| Other amounts receivable | 41 | €75,871 | €179,215 | +€103,344 | +136% |
| Cash at bank and in hand | 54/58 | €1,575 | €249,503 | +€247,928 | +15,737% |
| Deferred charges and accrued income | 490/1 | - | €1,972 | +€1,972 | |
| Total equity and liabilities | 10/49 | €1,127,961 | €3,096,640 | +€2.0m | +175% |
| Equity | 10/15 | €573,953 | €2,322,134 | +€1.7m | +305% |
| Contributions | 10/11 | €99,157 | €1,549,847 | +€1.5m | +1,463% |
| Capital | 10 | €99,157 | €1,549,847 | +€1.5m | +1,463% |
| Issued capital | 100 | €99,157 | €1,549,847 | +€1.5m | +1,463% |
| Reserves | 13 | €474,796 | €772,287 | +€297,491 | +62.7% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €106,643 | €456,682 | +€350,040 | +328% |
| Distributable reserves | 133 | €358,238 | €305,689 | -€52,549 | -14.7% |
| Provisions and deferred taxes | 16 | €26,661 | €166,665 | +€140,004 | +525% |
| Deferred taxes | 168 | €26,661 | €166,665 | +€140,004 | +525% |
| Amounts payable | 17/49 | €527,347 | €607,841 | +€80,494 | +15.3% |
| Amounts payable after more than one year | 17 | €377,287 | €515,606 | +€138,319 | +36.7% |
| Financial debts | 170/4 | €377,287 | €515,606 | +€138,319 | +36.7% |
| Amounts payable within one year | 42/48 | €150,060 | €92,235 | -€57,825 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €48,140 | €79,766 | +€31,626 | +65.7% |
| Trade debts | 44 | €1,514 | €7,140 | +€5,626 | +372% |
| Suppliers | 440/4 | €1,514 | €7,140 | +€5,626 | +372% |
| Taxes, remuneration and social security | 45 | €4,815 | €5,329 | +€514 | +10.7% |
| Taxes | 450/3 | €4,815 | €5,329 | +€514 | +10.7% |
| Other amounts payable | 47/48 | €95,590 | €0 | -€95,590 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €30,000 | €472,374 | +€442,374 | +1,475% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,760 | €34,967 | -€25,793 | -42.5% |
| Other operating charges | 640/8 | €4,939 | €7,765 | +€2,826 | +57.2% |
| Non-recurring operating charges | 66A | - | €106,328 | +€106,328 | |
| Gross operating margin | 9900 | €94,282 | €559,468 | +€465,187 | +493% |
| Operating profit (loss) | 9901 | €28,583 | €410,408 | +€381,826 | +1,336% |
| Financial income | 75/76B | €2,523 | €33,627 | +€31,104 | +1,233% |
| Recurring financial income | 75 | €2,523 | €0 | -€2,523 | -100% |
| Non-recurring financial income | 76B | - | €33,627 | +€33,627 | |
| Financial charges | 65/66B | €22,171 | €32,390 | +€10,219 | +46.1% |
| Recurring financial charges | 65 | €22,171 | €32,390 | +€10,219 | +46.1% |
| Profit (loss) for the period before taxes | 9903 | €8,935 | €411,646 | +€402,711 | +4,507% |
| Transfer from deferred taxes | 780 | €4,445 | €3,991 | -€454 | -10.2% |
| Transfer to deferred taxes | 680 | - | €118,094 | +€118,094 | |
| Income taxes | 67/77 | €1,097 | €53 | -€1,044 | -95.2% |
| Profit (loss) for the period | 9904 | €12,283 | €297,491 | +€285,208 | +2,322% |
| Transfer from tax-exempt reserves | 789 | €17,780 | €4,241 | -€13,538 | -76.1% |
| Transfer to tax-exempt reserves | 689 | - | €354,281 | +€354,281 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,062 | -€52,549 | -€82,611 |
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 30 October 2026 via checked.be.