SIELO: 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.
SIELO
Largest movements
- Receivables within one year +€65,470
up €65,470 (+50.1%), from €130,731 to €196,201
of which Other amounts receivable: +€63,743
- Tangible fixed assets -€8,255
down €8,255 (-5.3%), from €154,738 to €146,483
of which Land and buildings: -€6,350
- Profit (loss) carried forward +€53,020
up €53,020 (+148.5%), from €35,712 to €88,732
- Staff costs -€12,140
no longer reported in 2025 (was €12,140)
- Financial charges +€9,786
up €9,786 (+264.4%), from €3,701 to €13,487
- Financial income +€5,026
up €5,026 (+110.2%), from €4,561 to €9,587
- Taxes +€1,978
up €1,978 (+13.0%), from €15,270 to €17,248
- Other operating charges -€1,289
down €1,289 (-24.0%), from €5,382 to €4,093
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 | €288,067 | €346,760 | +€58,693 | +20.4% |
| Fixed assets | 21/28 | €155,940 | €147,693 | -€8,247 | -5.3% |
| Tangible fixed assets | 22/27 | €154,738 | €146,483 | -€8,255 | -5.3% |
| Land and buildings | 22 | €151,746 | €145,396 | -€6,350 | -4.2% |
| Plant, machinery and equipment | 23 | €874 | €424 | -€450 | -51.5% |
| Furniture and vehicles | 24 | €2,118 | €663 | -€1,455 | -68.7% |
| Financial fixed assets | 28 | €1,202 | €1,210 | +€8 | +0.7% |
| Current assets | 29/58 | €132,127 | €199,067 | +€66,940 | +50.7% |
| Amounts receivable within one year | 40/41 | €130,731 | €196,201 | +€65,470 | +50.1% |
| Trade receivables | 40 | €14,534 | €16,261 | +€1,727 | +11.9% |
| Other amounts receivable | 41 | €116,197 | €179,940 | +€63,743 | +54.9% |
| Cash at bank and in hand | 54/58 | €101 | €518 | +€417 | +412.9% |
| Deferred charges and accrued income | 490/1 | €1,295 | €2,348 | +€1,053 | +81.3% |
| Total equity and liabilities | 10/49 | €288,067 | €346,760 | +€58,693 | +20.4% |
| Equity | 10/15 | €74,655 | €127,675 | +€53,020 | +71.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €26,543 | €26,543 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €24,688 | €24,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,712 | €88,732 | +€53,020 | +148.5% |
| Amounts payable | 17/49 | €213,412 | €219,085 | +€5,673 | +2.7% |
| Amounts payable after more than one year | 17 | €180,000 | €180,000 | = | 0.0% |
| Financial debts | 170/4 | €180,000 | €180,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,412 | €35,865 | +€2,453 | +7.3% |
| Trade debts | 44 | €3,464 | €5,964 | +€2,500 | +72.2% |
| Suppliers | 440/4 | €3,464 | €5,964 | +€2,500 | +72.2% |
| Taxes, remuneration and social security | 45 | €29,948 | €29,901 | -€47 | -0.2% |
| Taxes | 450/3 | €29,948 | €29,901 | -€47 | -0.2% |
| Accrued charges and deferred income | 492/3 | - | €3,220 | +€3,220 | |
| Remuneration, social security and pensions | 62 | €12,140 | - | -€12,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,349 | €8,255 | -€94 | -1.1% |
| Other operating charges | 640/8 | €5,382 | €4,093 | -€1,289 | -24.0% |
| Gross operating margin | 9900 | €86,155 | €86,516 | +€361 | +0.4% |
| Operating profit (loss) | 9901 | €60,284 | €74,168 | +€13,884 | +23.0% |
| Financial income | 75/76B | €4,561 | €9,587 | +€5,026 | +110.2% |
| Recurring financial income | 75 | €4,561 | €9,587 | +€5,026 | +110.2% |
| Financial charges | 65/66B | €3,701 | €13,487 | +€9,786 | +264.4% |
| Recurring financial charges | 65 | €3,701 | €13,487 | +€9,786 | +264.4% |
| Profit (loss) for the period before taxes | 9903 | €61,144 | €70,268 | +€9,124 | +14.9% |
| Income taxes | 67/77 | €15,270 | €17,248 | +€1,978 | +13.0% |
| Profit (loss) for the period | 9904 | €45,874 | €53,020 | +€7,146 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,874 | €53,020 | +€7,146 | +15.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.