SIEBRESAR: 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.
SIEBRESAR
Largest movements
- Cash +€17,100
up €17,100 (+378%), from €4,520 to €21,620
mainly Net result for the year (+€31,682) and Receivables within one year (+€11,511)
- Receivables within one year -€11,511
down €11,511 (-100%), from €11,511 to €0
- Reserves +€31,682
up €31,682 (+15.0%), from €210,847 to €242,529
of which Distributable reserves: +€31,682
- Debts after one year -€28,846
down €28,846 (-14.0%), from €206,731 to €177,885
- Depreciation -€50,121
down €50,121 (-100%), from €50,121 to €0
- Financial charges +€4,166
up €4,166 (+70.9%), from €5,876 to €10,042
- Gross operating margin +€1,864
up €1,864 (+3.4%), from €54,404 to €56,268
- Financial income -€594
down €594 (-47.2%), from €1,258 to €664
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 | €548,705 | €554,294 | +€5,589 | +1.0% |
| Fixed assets | 21/28 | €477,162 | €477,162 | = | 0.0% |
| Tangible fixed assets | 22/27 | €477,162 | €477,162 | = | 0.0% |
| Land and buildings | 22 | €477,162 | €477,162 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €71,543 | €77,132 | +€5,589 | +7.8% |
| Amounts receivable within one year | 40/41 | €11,511 | €0 | -€11,511 | -100% |
| Other amounts receivable | 41 | €11,511 | €0 | -€11,511 | -100% |
| Current investments | 50/53 | €55,513 | €55,513 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,520 | €21,620 | +€17,100 | +378% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €548,705 | €554,294 | +€5,589 | +1.0% |
| Equity | 10/15 | €258,447 | €290,129 | +€31,682 | +12.3% |
| Contributions | 10/11 | €47,600 | €47,600 | = | 0.0% |
| Reserves | 13 | €210,847 | €242,529 | +€31,682 | +15.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €210,847 | €242,529 | +€31,682 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €290,259 | €264,166 | -€26,093 | -9.0% |
| Amounts payable after more than one year | 17 | €206,731 | €177,885 | -€28,846 | -14.0% |
| Financial debts | 170/4 | €206,731 | €177,885 | -€28,846 | -14.0% |
| Amounts payable within one year | 42/48 | €81,412 | €86,281 | +€4,869 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €28,846 | €28,846 | = | 0.0% |
| Trade debts | 44 | €126 | €128 | +€2 | +1.6% |
| Suppliers | 440/4 | €126 | €128 | +€2 | +1.6% |
| Taxes, remuneration and social security | 45 | €0 | €4,818 | +€4,818 | |
| Taxes | 450/3 | €0 | €4,818 | +€4,818 | |
| Other amounts payable | 47/48 | €52,440 | €52,489 | +€49 | +0.1% |
| Accrued charges and deferred income | 492/3 | €2,116 | €0 | -€2,116 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,121 | €0 | -€50,121 | -100% |
| Other operating charges | 640/8 | €867 | €1,003 | +€136 | +15.7% |
| Gross operating margin | 9900 | €54,404 | €56,268 | +€1,864 | +3.4% |
| Operating profit (loss) | 9901 | €3,416 | €55,264 | +€51,848 | +1,518% |
| Financial income | 75/76B | €1,258 | €664 | -€594 | -47.2% |
| Recurring financial income | 75 | €1,258 | €664 | -€594 | -47.2% |
| Financial charges | 65/66B | €5,876 | €10,042 | +€4,166 | +70.9% |
| Recurring financial charges | 65 | €5,876 | €10,042 | +€4,166 | +70.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,202 | €45,887 | +€47,088 | |
| Income taxes | 67/77 | €14,173 | €14,204 | +€31 | +0.2% |
| Profit (loss) for the period | 9904 | -€15,375 | €31,682 | +€47,057 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,375 | €31,682 | +€47,057 |
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 31 October 2026 via checked.be.