Siël: 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.
Siël
Largest movements
- Tangible fixed assets +€42,831
new in 2025: €42,831
- Cash -€22,783
down €22,783 (-17.8%), from €127,790 to €105,007
mainly Investment in fixed assets (net) (-€45,036) and Receivables within one year (-€11,813)
- Receivables within one year +€11,813
up €11,813 (+40.6%), from €29,097 to €40,910
of which Trade receivables: +€11,811
- Reserves +€45,571
up €45,571 (+37.5%), from €121,399 to €166,970
- Tax, wage and social debts -€10,740
down €10,740 (-51.3%), from €20,933 to €10,193
- Other debts -€2,393
down €2,393 (-48.8%), from €4,903 to €2,510
- Gross operating margin +€13,492
up €13,492 (+28.2%), from €47,762 to €61,254
- Depreciation +€2,205
new in 2025: €2,205
- Taxes +€1,965
up €1,965 (+19.4%), from €10,119 to €12,084
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 | €157,103 | €189,519 | +€32,416 | +20.6% |
| Fixed assets | 21/28 | - | €42,831 | +€42,831 | |
| Tangible fixed assets | 22/27 | - | €42,831 | +€42,831 | |
| Furniture and vehicles | 24 | - | €42,831 | +€42,831 | |
| Current assets | 29/58 | €157,103 | €146,688 | -€10,415 | -6.6% |
| Amounts receivable within one year | 40/41 | €29,097 | €40,910 | +€11,813 | +40.6% |
| Trade receivables | 40 | €29,097 | €40,907 | +€11,811 | +40.6% |
| Other amounts receivable | 41 | - | €3 | +€3 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €127,790 | €105,007 | -€22,783 | -17.8% |
| Deferred charges and accrued income | 490/1 | €217 | €772 | +€555 | +256% |
| Total equity and liabilities | 10/49 | €157,103 | €189,519 | +€32,416 | +20.6% |
| Equity | 10/15 | €130,399 | €175,970 | +€45,571 | +34.9% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Reserves | 13 | €121,399 | €166,970 | +€45,571 | +37.5% |
| Distributable reserves | 133 | €121,399 | €166,970 | +€45,571 | +37.5% |
| Amounts payable | 17/49 | €26,705 | €13,549 | -€13,156 | -49.3% |
| Amounts payable within one year | 42/48 | €26,705 | €13,474 | -€13,231 | -49.5% |
| Trade debts | 44 | €868 | €771 | -€97 | -11.2% |
| Suppliers | 440/4 | €868 | €771 | -€97 | -11.2% |
| Taxes, remuneration and social security | 45 | €20,933 | €10,193 | -€10,740 | -51.3% |
| Taxes | 450/3 | €20,933 | €10,193 | -€10,740 | -51.3% |
| Other amounts payable | 47/48 | €4,903 | €2,510 | -€2,393 | -48.8% |
| Accrued charges and deferred income | 492/3 | - | €75 | +€75 | |
| Non-recurring operating income | 76A | - | €2,663 | +€2,663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,205 | +€2,205 | |
| Other operating charges | 640/8 | €1,666 | €1,495 | -€171 | -10.3% |
| Gross operating margin | 9900 | €47,762 | €61,254 | +€13,492 | +28.2% |
| Operating profit (loss) | 9901 | €46,095 | €57,554 | +€11,459 | +24.9% |
| Financial income | 75/76B | €906 | €707 | -€199 | -22.0% |
| Recurring financial income | 75 | €906 | €707 | -€199 | -22.0% |
| Financial charges | 65/66B | €1,028 | €605 | -€422 | -41.1% |
| Recurring financial charges | 65 | €1,028 | €605 | -€422 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €45,973 | €57,655 | +€11,682 | +25.4% |
| Income taxes | 67/77 | €10,119 | €12,084 | +€1,965 | +19.4% |
| Profit (loss) for the period | 9904 | €35,855 | €45,571 | +€9,717 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €35,855 | €45,571 | +€9,717 | +27.1% |
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 14 October 2026 via checked.be.