SIEGERS TECHNICS: 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.
What changed
SIEGERS TECHNICS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €1.7m+€184,939
Equity
€25.8m
2024 · €24.0m+€1.9m
Cash
€1.4m
2024 · €546,312+€826,922
Balance sheet total
€43.4m
2024 · €36.9m+€6.5m
Largest movements
Assets
- Financial fixed assets +€2.2m
up €2.2m (+7.9%), from €27.6m to €29.8m
of which Affiliated companies: +€2.1m
- Stocks and contracts +€1.9m
up €1.9m (+163.1%), from €1.2m to €3.1m
of which Contracts in progress: +€2.0m
- Receivables within one year +€1.6m
up €1.6m (+22.8%), from €6.8m to €8.4m
of which Other amounts receivable: +€1.1m
- Cash +€826,922
up €826,922 (+151.4%), from €546,312 to €1.4m
mainly Advances received (+€2.9m) and Net result for the year (+€1.9m)
Equity and liabilities
- Advances received +€2.9m
up €2.9m (+235.3%), from €1.3m to €4.2m
- Reserves +€1.9m
up €1.9m (+26.0%), from €7.1m to €9.0m
of which Distributable reserves: +€1.8m
- Debts after one year +€1.2m
up €1.2m (+14.7%), from €8.5m to €9.7m
of which Other amounts payable: +€1.7m
Income statement
- Turnover -€1.2m
down €1.2m (-7.4%), from €16.7m to €15.5m
- Goods and materials +€1.1m
up €1.1m (+12.8%), from €8.3m to €9.4m
of which Purchases: +€1.0m
- Staff costs +€282,782
up €282,782 (+8.6%), from €3.3m to €3.6m
- Services and other goods +€276,669
up €276,669 (+17.8%), from €1.6m to €1.8m
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.
Result 2024
€1.7m
Turnover
-€1.2m
Other operating income
-€20,542
Goods and materials
-€1.1m
Services and other goods
-€276,669
Staff costs
-€282,782
Depreciation
-€54,519
Write-downs
+€3,592
Other operating charges
-€705
Other operating items
+€3.1m
Financial income
+€1,245
Financial charges
+€67,097
Taxes
-€79,708
Result 2025
€1.9m
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.
From operations
+€2.0m
Investment
-€2.5m
Financing
+€1.3m
Cash 2024
€546,312
From operations (derived)
+€2.0m
Net result for the year
+€1.9m
Depreciation
+€233,326
Stocks and contracts
-€1.9m
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€8,844
Trade debts
-€169,752
Tax, wage and social debts
+€222,135
Advances received
+€2.9m
Accrued charges and deferred income
+€409,079
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Financing
+€1.3m
Debts after one year
+€1.2m
Current portion of long-term debt
+€22,644
Contributions, distributions and other
-€1
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,913,347 | €43,447,538 | +€6.5m | +17.7% |
| Fixed assets | 21/28 | €28,303,423 | €30,552,712 | +€2.2m | +7.9% |
| Tangible fixed assets | 22/27 | €685,965 | €746,432 | +€60,467 | +8.8% |
| Plant, machinery and equipment | 23 | €16,791 | €16,625 | -€166 | -1.0% |
| Furniture and vehicles | 24 | €152,141 | €125,707 | -€26,434 | -17.4% |
| Leasing and similar rights | 25 | €252,982 | €392,706 | +€139,724 | +55.2% |
| Other tangible fixed assets | 26 | €264,051 | €211,394 | -€52,657 | -19.9% |
| Financial fixed assets | 28 | €27,617,458 | €29,806,280 | +€2.2m | +7.9% |
| Affiliated companies | 280/1 | €27,342,529 | €29,439,551 | +€2.1m | +7.7% |
| Participating interests | 280 | €27,342,529 | €29,439,551 | +€2.1m | +7.7% |
| Other financial fixed assets | 284/8 | €274,929 | €366,729 | +€91,800 | +33.4% |
| Shares | 284 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Amounts receivable and cash guarantees | 285/8 | €249,929 | €331,729 | +€81,800 | +32.7% |
| Current assets | 29/58 | €8,609,923 | €12,894,826 | +€4.3m | +49.8% |
| Stocks and contracts in progress | 3 | €1,160,690 | €3,053,867 | +€1.9m | +163.1% |
| Stocks | 30/36 | €79,937 | €12,441 | -€67,496 | -84.4% |
| Raw materials and consumables | 30/31 | €0 | - | -€0 | |
| Goods purchased for resale | 34 | €79,937 | €12,441 | -€67,496 | -84.4% |
| Contracts in progress | 37 | €1,080,753 | €3,041,426 | +€2.0m | +181.4% |
| Amounts receivable within one year | 40/41 | €6,819,225 | €8,375,184 | +€1.6m | +22.8% |
| Trade receivables | 40 | €4,408,905 | €4,852,003 | +€443,098 | +10.1% |
| Other amounts receivable | 41 | €2,410,320 | €3,523,181 | +€1.1m | +46.2% |
| Cash at bank and in hand | 54/58 | €546,312 | €1,373,234 | +€826,922 | +151.4% |
| Deferred charges and accrued income | 490/1 | €83,697 | €92,541 | +€8,844 | +10.6% |
| Total equity and liabilities | 10/49 | €36,913,347 | €43,447,538 | +€6.5m | +17.7% |
| Equity | 10/15 | €23,965,285 | €25,820,646 | +€1.9m | +7.7% |
| Contributions | 10/11 | €16,830,433 | €16,830,433 | -€0 | 0.0% |
| Capital | 10 | €16,830,433 | €16,830,433 | -€0 | 0.0% |
| Issued capital | 100 | €16,830,433 | €16,830,433 | -€0 | 0.0% |
| Reserves | 13 | €7,134,851 | €8,990,213 | +€1.9m | +26.0% |
| Non-distributable reserves | 130/1 | €425,688 | €518,456 | +€92,768 | +21.8% |
| Legal reserve | 130 | €405,214 | €497,983 | +€92,769 | +22.9% |
| Reserves not available under the articles | 1311 | €20,473 | €20,473 | -€0 | 0.0% |
| Distributable reserves | 133 | €6,709,164 | €8,471,757 | +€1.8m | +26.3% |
| Amounts payable | 17/49 | €12,948,062 | €17,626,892 | +€4.7m | +36.1% |
| Amounts payable after more than one year | 17 | €8,485,104 | €9,733,994 | +€1.2m | +14.7% |
| Financial debts | 170/4 | €7,735,104 | €7,258,994 | -€476,110 | -6.2% |
| Leasing and similar obligations | 172 | €192,948 | €303,415 | +€110,467 | +57.3% |
| Credit institutions | 173 | €7,542,157 | €6,955,579 | -€586,578 | -7.8% |
| Other amounts payable | 178/9 | €750,000 | €2,475,000 | +€1.7m | +230.0% |
| Amounts payable within one year | 42/48 | €4,388,901 | €7,409,762 | +€3.0m | +68.8% |
| Current portion of amounts payable after more than one year | 42 | €651,406 | €674,050 | +€22,644 | +3.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,035,041 | €1,865,289 | -€169,752 | -8.3% |
| Suppliers | 440/4 | €2,035,041 | €1,865,289 | -€169,752 | -8.3% |
| Advances received on contracts in progress | 46 | €1,251,805 | €4,197,639 | +€2.9m | +235.3% |
| Taxes, remuneration and social security | 45 | €450,649 | €672,784 | +€222,135 | +49.3% |
| Taxes | 450/3 | €3,678 | €218,123 | +€214,445 | +5830.7% |
| Remuneration and social security | 454/9 | €446,971 | €454,661 | +€7,690 | +1.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €74,057 | €483,136 | +€409,079 | +552.4% |
| Operating income | 70/76A | €15,863,780 | €17,738,594 | +€1.9m | +11.8% |
| Turnover | 70 | €16,743,459 | €15,499,023 | -€1.2m | -7.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,153,063 | €1,960,673 | +€3.1m | |
| Other operating income | 74 | €271,820 | €251,278 | -€20,542 | -7.6% |
| Non-recurring operating income | 76A | €1,565 | €27,620 | +€26,055 | +1664.9% |
| Operating charges | 60/66A | €13,359,728 | €15,038,237 | +€1.7m | +12.6% |
| Goods for resale, raw materials and consumables | 60 | €8,314,224 | €9,380,846 | +€1.1m | +12.8% |
| Purchases | 600/8 | €8,306,292 | €9,308,965 | +€1.0m | +12.1% |
| Change in stocks: decrease (increase) | 609 | €7,932 | €71,881 | +€63,949 | +806.2% |
| Services and other goods | 61 | €1,558,115 | €1,834,784 | +€276,669 | +17.8% |
| Remuneration, social security and pensions | 62 | €3,285,992 | €3,568,774 | +€282,782 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,807 | €233,326 | +€54,519 | +30.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€793 | -€4,385 | -€3,592 | -452.8% |
| Other operating charges | 640/8 | €23,382 | €24,087 | +€705 | +3.0% |
| Non-recurring operating charges | 66A | €0 | €805 | +€805 | |
| Operating profit (loss) | 9901 | €2,504,053 | €2,700,357 | +€196,304 | +7.8% |
| Financial income | 75/76B | €97,799 | €99,044 | +€1,245 | +1.3% |
| Recurring financial income | 75 | €97,799 | €99,044 | +€1,245 | +1.3% |
| Income from financial fixed assets | 750 | €8,780 | €4,720 | -€4,060 | -46.2% |
| Income from current assets | 751 | €60,194 | €51,382 | -€8,812 | -14.6% |
| Other financial income | 752/9 | €28,825 | €42,942 | +€14,117 | +49.0% |
| Financial charges | 65/66B | €346,775 | €279,678 | -€67,097 | -19.3% |
| Recurring financial charges | 65 | €346,775 | €279,678 | -€67,097 | -19.3% |
| Debt charges | 650 | €335,189 | €271,300 | -€63,889 | -19.1% |
| Other financial charges | 652/9 | €11,586 | €8,378 | -€3,208 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €2,255,076 | €2,519,723 | +€264,647 | +11.7% |
| Income taxes | 67/77 | €584,653 | €664,361 | +€79,708 | +13.6% |
| Taxes | 670/3 | €585,844 | €664,361 | +€78,517 | +13.4% |
| Tax adjustments and reversals of tax provisions | 77 | €1,191 | - | -€1,191 | |
| Profit (loss) for the period | 9904 | €1,670,423 | €1,855,362 | +€184,939 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,670,423 | €1,855,362 | +€184,939 | +11.1% |
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 30 September 2026 via checked.be.