SICAL: 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.
SICAL
Largest movements
- Tangible fixed assets -€86,264
down €86,264 (-49.7%), from €173,738 to €87,473
of which Plant, machinery and equipment: -€84,513
- Receivables within one year +€23,090
up €23,090 (+149%), from €15,530 to €38,620
of which Other amounts receivable: +€17,288
- Intangible fixed assets -€18,018
no longer reported in 2025 (was €18,018)
- Stocks and contracts -€15,231
down €15,231 (-6.2%), from €245,703 to €230,472
- Profit (loss) carried forward -€92,648
down €92,648 (-233%), from -€39,847 to -€132,494
- Tax, wage and social debts -€10,719
down €10,719 (-18.4%), from €58,231 to €47,512
of which Taxes: -€8,176
- Debts after one year -€10,547
down €10,547 (-59.2%), from €17,824 to €7,276
- Gross operating margin -€37,122
down €37,122 (-7.4%), from €503,128 to €466,005
- Financial income -€31,502
down €31,502 (-99.8%), from €31,577 to €75
- Staff costs -€27,165
down €27,165 (-6.1%), from €445,855 to €418,690
- Other operating charges +€6,132
up €6,132 (+61.3%), from €9,997 to €16,129
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 | €1,007,445 | €908,174 | -€99,271 | -9.9% |
| Fixed assets | 21/28 | €217,201 | €112,919 | -€104,282 | -48.0% |
| Intangible fixed assets | 21 | €18,018 | - | -€18,018 | |
| Tangible fixed assets | 22/27 | €173,738 | €87,473 | -€86,264 | -49.7% |
| Plant, machinery and equipment | 23 | €171,118 | €86,604 | -€84,513 | -49.4% |
| Furniture and vehicles | 24 | €2,620 | €869 | -€1,751 | -66.8% |
| Financial fixed assets | 28 | €25,445 | €25,445 | = | 0.0% |
| Current assets | 29/58 | €790,245 | €795,255 | +€5,010 | +0.6% |
| Stocks and contracts in progress | 3 | €245,703 | €230,472 | -€15,231 | -6.2% |
| Stocks | 30/36 | €245,703 | €230,472 | -€15,231 | -6.2% |
| Amounts receivable within one year | 40/41 | €15,530 | €38,620 | +€23,090 | +149% |
| Trade receivables | 40 | €2,781 | €8,583 | +€5,802 | +209% |
| Other amounts receivable | 41 | €12,749 | €30,037 | +€17,288 | +136% |
| Cash at bank and in hand | 54/58 | €527,581 | €524,644 | -€2,937 | -0.6% |
| Deferred charges and accrued income | 490/1 | €1,431 | €1,519 | +€89 | +6.2% |
| Total equity and liabilities | 10/49 | €1,007,445 | €908,174 | -€99,271 | -9.9% |
| Equity | 10/15 | €102,653 | €10,006 | -€92,648 | -90.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €75,000 | - | -€75,000 | |
| Other | 1109/19 | €75,000 | - | -€75,000 | |
| Reserves | 13 | €67,500 | €67,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,847 | -€132,494 | -€92,648 | -233% |
| Amounts payable | 17/49 | €904,792 | €898,168 | -€6,624 | -0.7% |
| Amounts payable after more than one year | 17 | €17,824 | €7,276 | -€10,547 | -59.2% |
| Financial debts | 170/4 | €17,824 | €7,276 | -€10,547 | -59.2% |
| Amounts payable within one year | 42/48 | €886,968 | €890,892 | +€3,923 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €10,122 | €17,003 | +€6,881 | +68.0% |
| Trade debts | 44 | €496,822 | €506,377 | +€9,555 | +1.9% |
| Suppliers | 440/4 | €496,822 | €506,377 | +€9,555 | +1.9% |
| Taxes, remuneration and social security | 45 | €58,231 | €47,512 | -€10,719 | -18.4% |
| Taxes | 450/3 | €14,584 | €6,408 | -€8,176 | -56.1% |
| Remuneration and social security | 454/9 | €43,647 | €41,104 | -€2,543 | -5.8% |
| Other amounts payable | 47/48 | €321,793 | €320,000 | -€1,793 | -0.6% |
| Remuneration, social security and pensions | 62 | €445,855 | €418,690 | -€27,165 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,323 | €104,282 | -€41 | 0.0% |
| Other operating charges | 640/8 | €9,997 | €16,129 | +€6,132 | +61.3% |
| Gross operating margin | 9900 | €503,128 | €466,005 | -€37,122 | -7.4% |
| Operating profit (loss) | 9901 | -€57,047 | -€73,095 | -€16,048 | -28.1% |
| Financial income | 75/76B | €31,577 | €75 | -€31,502 | -99.8% |
| Recurring financial income | 75 | €31,577 | €75 | -€31,502 | -99.8% |
| Financial charges | 65/66B | €14,376 | €18,880 | +€4,504 | +31.3% |
| Recurring financial charges | 65 | €14,376 | €18,880 | +€4,504 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,847 | -€91,901 | -€52,054 | -131% |
| Income taxes | 67/77 | €0 | €747 | +€747 | |
| Profit (loss) for the period | 9904 | -€39,847 | -€92,648 | -€52,801 | -133% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,847 | -€92,648 | -€52,801 | -133% |
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 14 October 2026 via checked.be.