SICARES: 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.
SICARES
Largest movements
- Tangible fixed assets -€5,193
down €5,193 (-46.5%), from €11,162 to €5,969
of which Land and buildings: -€3,272
- Receivables within one year +€1,213
new in 2025: €1,213
- Deferred charges and accrued income -€568
no longer reported in 2025 (was €568)
- Cash -€355
down €355 (-98.6%), from €360 to €5
mainly Net result for the year (-€4,903) and Receivables within one year (-€1,213)
- Profit (loss) carried forward -€4,903
down €4,903 (-25.9%), from -€18,964 to -€23,867
- Gross operating margin -€529
down €529 (-21.8%), from €2,424 to €1,895
- Depreciation +€318
up €318 (+6.5%), from €4,874 to €5,193
- Financial charges -€132
down €132, from €46 to -€86
- Other operating charges +€52
up €52 (+3.1%), from €1,640 to €1,691
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 | €12,090 | €7,186 | -€4,903 | -40.6% |
| Fixed assets | 21/28 | €11,162 | €5,969 | -€5,193 | -46.5% |
| Tangible fixed assets | 22/27 | €11,162 | €5,969 | -€5,193 | -46.5% |
| Land and buildings | 22 | €3,272 | - | -€3,272 | |
| Plant, machinery and equipment | 23 | €7,890 | €5,969 | -€1,921 | -24.3% |
| Current assets | 29/58 | €928 | €1,218 | +€290 | +31.2% |
| Amounts receivable within one year | 40/41 | - | €1,213 | +€1,213 | |
| Other amounts receivable | 41 | - | €1,213 | +€1,213 | |
| Cash at bank and in hand | 54/58 | €360 | €5 | -€355 | -98.6% |
| Deferred charges and accrued income | 490/1 | €568 | - | -€568 | |
| Total equity and liabilities | 10/49 | €12,090 | €7,186 | -€4,903 | -40.6% |
| Equity | 10/15 | €12,090 | €7,186 | -€4,903 | -40.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €67 | €67 | = | 0.0% |
| Distributable reserves | 133 | €67 | €67 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,964 | -€23,867 | -€4,903 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,874 | €5,193 | +€318 | +6.5% |
| Other operating charges | 640/8 | €1,640 | €1,691 | +€52 | +3.1% |
| Gross operating margin | 9900 | €2,424 | €1,895 | -€529 | -21.8% |
| Operating profit (loss) | 9901 | -€4,090 | -€4,989 | -€899 | -22.0% |
| Financial charges | 65/66B | €46 | -€86 | -€132 | |
| Recurring financial charges | 65 | €46 | -€86 | -€132 | |
| Profit (loss) for the period before taxes | 9903 | -€4,136 | -€4,903 | -€767 | -18.5% |
| Profit (loss) for the period | 9904 | -€4,136 | -€4,903 | -€767 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,136 | -€4,903 | -€767 | -18.5% |
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 23 October 2026 via checked.be.