SIEDECO: 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.
SIEDECO
Largest movements
- Current investments +€48,500
new in 2025: €48,500
- Cash +€31,980
up €31,980 (+102%), from €31,467 to €63,447
mainly Other debts (+€96,154) and Net result for the year (+€56,845)
- Tangible fixed assets -€16,419
down €16,419 (-35.6%), from €46,074 to €29,654
- Receivables within one year -€3,755
no longer reported in 2025 (was €3,755)
- Other debts +€96,154
up €96,154 (+1,197%), from €8,032 to €104,186
- Reserves -€36,967
down €36,967 (-66.3%), from €55,765 to €18,798
- Tax, wage and social debts +€1,471
up €1,471 (+17.6%), from €8,380 to €9,851
- Gross operating margin +€24,151
up €24,151 (+36.9%), from €65,528 to €89,678
- Taxes +€3,674
up €3,674 (+32.4%), from €11,327 to €15,001
- Financial income -€935
down €935 (-55.9%), from €1,673 to €738
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 | €82,978 | €143,515 | +€60,537 | +73.0% |
| Fixed assets | 21/28 | €46,074 | €29,654 | -€16,419 | -35.6% |
| Tangible fixed assets | 22/27 | €46,074 | €29,654 | -€16,419 | -35.6% |
| Furniture and vehicles | 24 | €46,074 | €29,654 | -€16,419 | -35.6% |
| Current assets | 29/58 | €36,904 | €113,860 | +€76,956 | +209% |
| Amounts receivable within one year | 40/41 | €3,755 | - | -€3,755 | |
| Other amounts receivable | 41 | €3,755 | - | -€3,755 | |
| Current investments | 50/53 | - | €48,500 | +€48,500 | |
| Cash at bank and in hand | 54/58 | €31,467 | €63,447 | +€31,980 | +102% |
| Deferred charges and accrued income | 490/1 | €1,682 | €1,913 | +€232 | +13.8% |
| Total equity and liabilities | 10/49 | €82,978 | €143,515 | +€60,537 | +73.0% |
| Equity | 10/15 | €65,765 | €28,798 | -€36,967 | -56.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €55,765 | €18,798 | -€36,967 | -66.3% |
| Distributable reserves | 133 | €55,765 | €18,798 | -€36,967 | -66.3% |
| Amounts payable | 17/49 | €17,212 | €114,716 | +€97,504 | +566% |
| Amounts payable within one year | 42/48 | €17,212 | €114,716 | +€97,504 | +566% |
| Trade debts | 44 | €801 | €679 | -€122 | -15.2% |
| Suppliers | 440/4 | €801 | €679 | -€122 | -15.2% |
| Taxes, remuneration and social security | 45 | €8,380 | €9,851 | +€1,471 | +17.6% |
| Taxes | 450/3 | €8,380 | €9,851 | +€1,471 | +17.6% |
| Other amounts payable | 47/48 | €8,032 | €104,186 | +€96,154 | +1,197% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,815 | €17,245 | -€570 | -3.2% |
| Other operating charges | 640/8 | €449 | €578 | +€129 | +28.7% |
| Gross operating margin | 9900 | €65,528 | €89,678 | +€24,151 | +36.9% |
| Operating profit (loss) | 9901 | €47,263 | €71,855 | +€24,592 | +52.0% |
| Financial income | 75/76B | €1,673 | €738 | -€935 | -55.9% |
| Recurring financial income | 75 | €1,673 | €738 | -€935 | -55.9% |
| Financial charges | 65/66B | €643 | €748 | +€105 | +16.4% |
| Recurring financial charges | 65 | €643 | €748 | +€105 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €48,294 | €71,845 | +€23,551 | +48.8% |
| Income taxes | 67/77 | €11,327 | €15,001 | +€3,674 | +32.4% |
| Profit (loss) for the period | 9904 | €36,967 | €56,845 | +€19,878 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,967 | €56,845 | +€19,878 | +53.8% |
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 25 October 2026 via checked.be.