SIEDEL: 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.
SIEDEL
Largest movements
- Cash -€220,859
down €220,859 (-26.4%), from €835,823 to €614,963
mainly Investment in fixed assets (net) (-€148,825) and Other debts (-€60,286)
- Tangible fixed assets +€69,477
up €69,477 (+3.7%), from €1.9m to €1.9m
of which Furniture and vehicles: +€133,448
- Receivables within one year -€51,927
down €51,927 (-87.9%), from €59,087 to €7,160
of which Trade receivables: -€47,327
- Other debts -€60,286
down €60,286 (-34.4%), from €175,316 to €115,030
- Profit (loss) carried forward -€59,180
down €59,180 (-32.9%), from -€179,968 to -€239,149
- Debts after one year -€40,192
no longer reported in 2025 (was €40,192)
- Current portion of long-term debt -€37,486
down €37,486 (-48.3%), from €77,678 to €40,192
- Gross operating margin +€35,429
up €35,429 (+1,399%), from €2,532 to €37,960
- Financial income -€16,270
down €16,270 (-66.0%), from €24,653 to €8,383
of which Financial income: -€16,271
- Taxes +€5,824
up €5,824 (+624%), from €933 to €6,757
- Financial charges -€3,670
down €3,670 (-48.0%), from €7,644 to €3,974
of which Financial charges: -€3,860
- Depreciation -€2,760
down €2,760 (-3.4%), from €82,108 to €79,348
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 | €3,632,842 | €3,429,421 | -€203,421 | -5.6% |
| Fixed assets | 21/28 | €2,737,821 | €2,807,297 | +€69,477 | +2.5% |
| Tangible fixed assets | 22/27 | €1,855,321 | €1,924,797 | +€69,477 | +3.7% |
| Land and buildings | 22 | €1,842,883 | €1,778,933 | -€63,950 | -3.5% |
| Plant, machinery and equipment | 23 | €22 | - | -€22 | |
| Furniture and vehicles | 24 | €12,416 | €145,864 | +€133,448 | +1,075% |
| Financial fixed assets | 28 | €882,500 | €882,500 | = | 0.0% |
| Current assets | 29/58 | €895,022 | €622,124 | -€272,898 | -30.5% |
| Amounts receivable within one year | 40/41 | €59,087 | €7,160 | -€51,927 | -87.9% |
| Trade receivables | 40 | €53,087 | €5,760 | -€47,327 | -89.1% |
| Other amounts receivable | 41 | €6,000 | €1,400 | -€4,600 | -76.7% |
| Cash at bank and in hand | 54/58 | €835,823 | €614,963 | -€220,859 | -26.4% |
| Deferred charges and accrued income | 490/1 | €112 | - | -€112 | |
| Total equity and liabilities | 10/49 | €3,632,842 | €3,429,421 | -€203,421 | -5.6% |
| Equity | 10/15 | €3,332,426 | €3,273,246 | -€59,180 | -1.8% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €3,500,000 | €3,500,000 | = | 0.0% |
| Distributable reserves | 133 | €3,500,000 | €3,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€179,968 | -€239,149 | -€59,180 | -32.9% |
| Amounts payable | 17/49 | €300,416 | €156,175 | -€144,241 | -48.0% |
| Amounts payable after more than one year | 17 | €40,192 | - | -€40,192 | |
| Financial debts | 170/4 | €40,192 | - | -€40,192 | |
| Amounts payable within one year | 42/48 | €260,224 | €156,175 | -€104,049 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €77,678 | €40,192 | -€37,486 | -48.3% |
| Trade debts | 44 | €66 | €953 | +€887 | +1,336% |
| Suppliers | 440/4 | €66 | €953 | +€887 | +1,336% |
| Taxes, remuneration and social security | 45 | €7,164 | - | -€7,164 | |
| Taxes | 450/3 | €7,164 | - | -€7,164 | |
| Other amounts payable | 47/48 | €175,316 | €115,030 | -€60,286 | -34.4% |
| Non-recurring operating income | 76A | €43,874 | €76,374 | +€32,501 | +74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,108 | €79,348 | -€2,760 | -3.4% |
| Other operating charges | 640/8 | €5,047 | €5,423 | +€376 | +7.4% |
| Non-recurring operating charges | 66A | €7,382 | €10,022 | +€2,640 | +35.8% |
| Gross operating margin | 9900 | €2,532 | €37,960 | +€35,429 | +1,399% |
| Operating profit (loss) | 9901 | -€92,006 | -€56,833 | +€35,173 | +38.2% |
| Financial income | 75/76B | €24,653 | €8,383 | -€16,270 | -66.0% |
| Recurring financial income | 75 | €24,653 | €8,382 | -€16,271 | -66.0% |
| Non-recurring financial income | 76B | - | €1 | +€1 | |
| Financial charges | 65/66B | €7,644 | €3,974 | -€3,670 | -48.0% |
| Recurring financial charges | 65 | €7,644 | €3,784 | -€3,860 | -50.5% |
| Non-recurring financial charges | 66B | - | €190 | +€190 | |
| Profit (loss) for the period before taxes | 9903 | -€74,997 | -€52,423 | +€22,573 | +30.1% |
| Income taxes | 67/77 | €933 | €6,757 | +€5,824 | +624% |
| Profit (loss) for the period | 9904 | -€75,929 | -€59,180 | +€16,749 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,929 | -€59,180 | +€16,749 | +22.1% |
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.