SIEGL SERVICES: 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.
SIEGL SERVICES
Largest movements
- Tangible fixed assets -€22,708
down €22,708 (-15.7%), from €144,290 to €121,582
of which Land and buildings: -€20,684
- Receivables within one year +€14,745
up €14,745 (+107.7%), from €13,689 to €28,435
of which Trade receivables: +€12,575
- Cash -€13,140
down €13,140 (-41.5%), from €31,695 to €18,555
mainly Other debts (-€24,421) and Receivables within one year (-€14,745)
- Stocks and contracts -€9,000
no longer reported in 2025 (was €9,000)
- Other debts -€24,421
down €24,421 (-33.8%), from €72,180 to €47,759
- Trade debts -€6,294
down €6,294 (-59.4%), from €10,588 to €4,294
- Reserves +€4,091
up €4,091 (+219.9%), from €1,860 to €5,951
- Tax, wage and social debts -€2,489
down €2,489 (-27.8%), from €8,959 to €6,470
- Depreciation -€216,708
down €216,708 (-92.9%), from €233,157 to €16,449
- Gross operating margin -€22,515
down €22,515 (-41.3%), from €54,453 to €31,938
- Taxes -€9,021
down €9,021 (-59.7%), from €15,100 to €6,080
- Financial charges -€2,832
down €2,832 (-61.1%), from €4,636 to €1,804
- Other operating charges +€1,320
up €1,320 (+46.6%), from €2,833 to €4,154
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 | €201,364 | €170,808 | -€30,556 | -15.2% |
| Fixed assets | 21/28 | €144,290 | €121,582 | -€22,708 | -15.7% |
| Tangible fixed assets | 22/27 | €144,290 | €121,582 | -€22,708 | -15.7% |
| Land and buildings | 22 | €141,602 | €120,918 | -€20,684 | -14.6% |
| Plant, machinery and equipment | 23 | €1,105 | - | -€1,105 | |
| Furniture and vehicles | 24 | €1,583 | €664 | -€918 | -58.0% |
| Current assets | 29/58 | €57,074 | €49,226 | -€7,848 | -13.8% |
| Stocks and contracts in progress | 3 | €9,000 | - | -€9,000 | |
| Stocks | 30/36 | €9,000 | - | -€9,000 | |
| Amounts receivable within one year | 40/41 | €13,689 | €28,435 | +€14,745 | +107.7% |
| Trade receivables | 40 | €11,724 | €24,299 | +€12,575 | +107.3% |
| Other amounts receivable | 41 | €1,966 | €4,136 | +€2,170 | +110.4% |
| Cash at bank and in hand | 54/58 | €31,695 | €18,555 | -€13,140 | -41.5% |
| Deferred charges and accrued income | 490/1 | €2,690 | €2,237 | -€453 | -16.8% |
| Total equity and liabilities | 10/49 | €201,364 | €170,808 | -€30,556 | -15.2% |
| Equity | 10/15 | €83,195 | €87,285 | +€4,091 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €5,951 | +€4,091 | +219.9% |
| Distributable reserves | 133 | €1,860 | €5,951 | +€4,091 | +219.9% |
| Profit (loss) carried forward | 14 | €62,735 | €62,735 | = | 0.0% |
| Amounts payable | 17/49 | €118,169 | €83,523 | -€34,646 | -29.3% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €93,169 | €58,523 | -€34,646 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €1,443 | - | -€1,443 | |
| Trade debts | 44 | €10,588 | €4,294 | -€6,294 | -59.4% |
| Suppliers | 440/4 | €10,588 | €4,294 | -€6,294 | -59.4% |
| Taxes, remuneration and social security | 45 | €8,959 | €6,470 | -€2,489 | -27.8% |
| Taxes | 450/3 | €8,959 | €6,470 | -€2,489 | -27.8% |
| Other amounts payable | 47/48 | €72,180 | €47,759 | -€24,421 | -33.8% |
| Non-recurring operating income | 76A | €33,000 | - | -€33,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233,157 | €16,449 | -€216,708 | -92.9% |
| Other operating charges | 640/8 | €2,833 | €4,154 | +€1,320 | +46.6% |
| Gross operating margin | 9900 | €54,453 | €31,938 | -€22,515 | -41.3% |
| Operating profit (loss) | 9901 | -€181,537 | €11,336 | +€192,873 | |
| Financial income | 75/76B | €173 | €639 | +€466 | +269.4% |
| Recurring financial income | 75 | €173 | €639 | +€466 | +269.4% |
| Financial charges | 65/66B | €4,636 | €1,804 | -€2,832 | -61.1% |
| Recurring financial charges | 65 | €4,636 | €1,804 | -€2,832 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | -€186,000 | €10,170 | +€196,171 | |
| Income taxes | 67/77 | €15,100 | €6,080 | -€9,021 | -59.7% |
| Profit (loss) for the period | 9904 | -€201,101 | €4,091 | +€205,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€201,101 | €4,091 | +€205,191 |
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 9 October 2026 via checked.be.