SIENEL: 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.
SIENEL
Largest movements
- Cash +€10,758
up €10,758 (+107%), from €10,078 to €20,836
mainly Depreciation (+€10,700) and Net result for the year (+€6,394)
- Tangible fixed assets -€10,700
down €10,700 (-45.9%), from €23,306 to €12,606
- Receivables within one year -€6,253
down €6,253 (-38.8%), from €16,110 to €9,856
of which Trade receivables: -€6,050
- Debts after one year -€10,406
down €10,406 (-79.7%), from €13,059 to €2,653
- Reserves +€6,394
up €6,394 (+116%), from €5,521 to €11,914
- Other debts -€3,149
down €3,149 (-84.3%), from €3,737 to €588
- Trade debts +€2,391
up €2,391 (+110%), from €2,183 to €4,573
- Tax, wage and social debts -€1,779
down €1,779 (-14.1%), from €12,629 to €10,850
of which Remuneration and social security: -€1,500
- Gross operating margin +€3,091
up €3,091 (+15.7%), from €19,735 to €22,826
- Depreciation +€1,906
up €1,906 (+21.7%), from €8,795 to €10,700
- Taxes +€1,020
up €1,020 (+31.7%), from €3,220 to €4,240
- Other operating charges -€550
down €550 (-39.7%), from €1,387 to €837
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 | €50,147 | €43,920 | -€6,228 | -12.4% |
| Fixed assets | 21/28 | €23,306 | €12,606 | -€10,700 | -45.9% |
| Tangible fixed assets | 22/27 | €23,306 | €12,606 | -€10,700 | -45.9% |
| Furniture and vehicles | 24 | €23,306 | €12,606 | -€10,700 | -45.9% |
| Current assets | 29/58 | €26,841 | €31,314 | +€4,473 | +16.7% |
| Amounts receivable within one year | 40/41 | €16,110 | €9,856 | -€6,253 | -38.8% |
| Trade receivables | 40 | €15,730 | €9,680 | -€6,050 | -38.5% |
| Other amounts receivable | 41 | €380 | €176 | -€203 | -53.6% |
| Cash at bank and in hand | 54/58 | €10,078 | €20,836 | +€10,758 | +107% |
| Deferred charges and accrued income | 490/1 | €653 | €622 | -€31 | -4.8% |
| Total equity and liabilities | 10/49 | €50,147 | €43,920 | -€6,228 | -12.4% |
| Equity | 10/15 | €8,021 | €14,414 | +€6,394 | +79.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €5,521 | €11,914 | +€6,394 | +116% |
| Distributable reserves | 133 | €5,521 | €11,914 | +€6,394 | +116% |
| Amounts payable | 17/49 | €42,126 | €29,505 | -€12,621 | -30.0% |
| Amounts payable after more than one year | 17 | €13,059 | €2,653 | -€10,406 | -79.7% |
| Financial debts | 170/4 | €13,059 | €2,653 | -€10,406 | -79.7% |
| Amounts payable within one year | 42/48 | €28,632 | €26,417 | -€2,215 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €10,084 | €10,406 | +€322 | +3.2% |
| Trade debts | 44 | €2,183 | €4,573 | +€2,391 | +110% |
| Suppliers | 440/4 | €2,183 | €4,573 | +€2,391 | +110% |
| Taxes, remuneration and social security | 45 | €12,629 | €10,850 | -€1,779 | -14.1% |
| Taxes | 450/3 | €11,129 | €10,850 | -€279 | -2.5% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €3,737 | €588 | -€3,149 | -84.3% |
| Accrued charges and deferred income | 492/3 | €435 | €435 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,795 | €10,700 | +€1,906 | +21.7% |
| Other operating charges | 640/8 | €1,387 | €837 | -€550 | -39.7% |
| Gross operating margin | 9900 | €19,735 | €22,826 | +€3,091 | +15.7% |
| Operating profit (loss) | 9901 | €9,554 | €11,289 | +€1,735 | +18.2% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €813 | €673 | -€140 | -17.2% |
| Recurring financial charges | 65 | €813 | €673 | -€140 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €8,741 | €10,633 | +€1,892 | +21.6% |
| Income taxes | 67/77 | €3,220 | €4,240 | +€1,020 | +31.7% |
| Profit (loss) for the period | 9904 | €5,521 | €6,394 | +€873 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,521 | €6,394 | +€873 | +15.8% |
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 13 October 2026 via checked.be.