SICO: 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.
SICO
Largest movements
- Cash -€530,059
down €530,059 (-31.2%), from €1.7m to €1.2m
mainly Contributions, distributions and other (-€697,540) and Other debts (-€17,099)
- Tangible fixed assets -€29,242
down €29,242 (-24.9%), from €117,228 to €87,986
- Reserves -€537,006
down €537,006 (-30.8%), from €1.7m to €1.2m
- Gross operating margin -€47,276
down €47,276 (-12.4%), from €380,343 to €333,068
- Taxes -€20,394
down €20,394 (-23.1%), from €88,369 to €67,975
- Financial income -€16,215
down €16,215 (-93.3%), from €17,376 to €1,161
- Other operating charges -€5,651
down €5,651 (-60.5%), from €9,339 to €3,688
- Financial charges -€3,849
down €3,849 (-53.0%), from €7,258 to €3,408
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 | €1,845,803 | €1,284,679 | -€561,125 | -30.4% |
| Fixed assets | 21/28 | €117,363 | €88,121 | -€29,242 | -24.9% |
| Tangible fixed assets | 22/27 | €117,228 | €87,986 | -€29,242 | -24.9% |
| Land and buildings | 22 | €46,539 | €36,347 | -€10,193 | -21.9% |
| Plant, machinery and equipment | 23 | €60,714 | €50,326 | -€10,387 | -17.1% |
| Furniture and vehicles | 24 | €9,975 | €1,313 | -€8,662 | -86.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €1,728,440 | €1,196,557 | -€531,883 | -30.8% |
| Stocks and contracts in progress | 3 | €12,500 | €12,500 | = | 0.0% |
| Stocks | 30/36 | €12,500 | €12,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,944 | €12,062 | +€1,119 | +10.2% |
| Trade receivables | 40 | €324 | €683 | +€358 | +110.6% |
| Other amounts receivable | 41 | €10,619 | €11,380 | +€760 | +7.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,701,359 | €1,171,301 | -€530,059 | -31.2% |
| Deferred charges and accrued income | 490/1 | €3,637 | €694 | -€2,943 | -80.9% |
| Total equity and liabilities | 10/49 | €1,845,803 | €1,284,679 | -€561,125 | -30.4% |
| Equity | 10/15 | €1,761,087 | €1,224,081 | -€537,006 | -30.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,742,320 | €1,205,314 | -€537,006 | -30.8% |
| Distributable reserves | 133 | €1,742,320 | €1,205,314 | -€537,006 | -30.8% |
| Profit (loss) carried forward | 14 | €167 | €167 | = | 0.0% |
| Amounts payable | 17/49 | €84,716 | €60,597 | -€24,119 | -28.5% |
| Amounts payable within one year | 42/48 | €84,716 | €60,597 | -€24,119 | -28.5% |
| Trade debts | 44 | €35,144 | €27,483 | -€7,661 | -21.8% |
| Suppliers | 440/4 | €35,144 | €27,483 | -€7,661 | -21.8% |
| Advances received on contracts in progress | 46 | €7,433 | €0 | -€7,433 | -100.0% |
| Taxes, remuneration and social security | 45 | €25,040 | €33,114 | +€8,074 | +32.2% |
| Taxes | 450/3 | €23,572 | €31,547 | +€7,975 | +33.8% |
| Remuneration and social security | 454/9 | €1,468 | €1,567 | +€99 | +6.7% |
| Other amounts payable | 47/48 | €17,099 | €0 | -€17,099 | -100.0% |
| Remuneration, social security and pensions | 62 | €53,378 | €56,869 | +€3,491 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,244 | €41,603 | +€2,359 | +6.0% |
| Other operating charges | 640/8 | €9,339 | €3,688 | -€5,651 | -60.5% |
| Non-recurring operating charges | 66A | €25 | €151 | +€126 | +501.0% |
| Gross operating margin | 9900 | €380,343 | €333,068 | -€47,276 | -12.4% |
| Operating profit (loss) | 9901 | €278,357 | €230,756 | -€47,601 | -17.1% |
| Financial income | 75/76B | €17,376 | €1,161 | -€16,215 | -93.3% |
| Recurring financial income | 75 | €17,376 | €1,161 | -€16,215 | -93.3% |
| Financial charges | 65/66B | €7,258 | €3,408 | -€3,849 | -53.0% |
| Recurring financial charges | 65 | €7,258 | €3,408 | -€3,849 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €288,476 | €228,509 | -€59,966 | -20.8% |
| Income taxes | 67/77 | €88,369 | €67,975 | -€20,394 | -23.1% |
| Profit (loss) for the period | 9904 | €200,107 | €160,534 | -€39,573 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €200,107 | €160,534 | -€39,573 | -19.8% |
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 29 September 2026 via checked.be.