SIER: 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.
SIER
Largest movements
- Tangible fixed assets -€37,967
down €37,967 (-7.2%), from €530,933 to €492,966
of which Land and buildings: -€33,121
- Cash -€21,052
down €21,052 (-71.2%), from €29,561 to €8,509
mainly Debts after one year (-€61,075) and Receivables within one year (-€15,881)
- Receivables within one year +€15,881
up €15,881 (+159%), from €9,961 to €25,842
- Debts after one year -€61,075
down €61,075 (-25.5%), from €239,587 to €178,511
- Other debts +€16,989
up €16,989 (+808%), from €2,103 to €19,092
- Profit (loss) carried forward +€14,617
up €14,617 (+7.3%), from €200,731 to €215,348
- Trade debts -€7,565
down €7,565 (-70.9%), from €10,674 to €3,108
- Current portion of long-term debt -€6,389
down €6,389 (-22.4%), from €28,464 to €22,075
- Financial charges -€6,637
down €6,637 (-64.9%), from €10,224 to €3,587
- Taxes +€5,065
up €5,065 (+44.7%), from €11,326 to €16,391
- Purchases and services -€4,704
down €4,704 (-12.4%), from €37,984 to €33,281
- Turnover -€4,095
down €4,095 (-3.5%), from €118,317 to €114,222
- Financial income +€2,269
up €2,269 (+11,343,900%), from €0 to €2,269
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 | €595,454 | €552,316 | -€43,138 | -7.2% |
| Fixed assets | 21/28 | €555,933 | €517,966 | -€37,967 | -6.8% |
| Tangible fixed assets | 22/27 | €530,933 | €492,966 | -€37,967 | -7.2% |
| Land and buildings | 22 | €522,790 | €489,668 | -€33,121 | -6.3% |
| Furniture and vehicles | 24 | €207 | €64 | -€143 | -69.2% |
| Leasing and similar rights | 25 | €7,936 | €3,234 | -€4,702 | -59.3% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €39,522 | €34,351 | -€5,171 | -13.1% |
| Amounts receivable within one year | 40/41 | €9,961 | €25,842 | +€15,881 | +159% |
| Trade receivables | 40 | €9,961 | €25,842 | +€15,881 | +159% |
| Cash at bank and in hand | 54/58 | €29,561 | €8,509 | -€21,052 | -71.2% |
| Total equity and liabilities | 10/49 | €595,454 | €552,316 | -€43,138 | -7.2% |
| Equity | 10/15 | €311,617 | €326,234 | +€14,617 | +4.7% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €11,729 | €11,729 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,813 | €1,813 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,731 | €215,348 | +€14,617 | +7.3% |
| Amounts payable | 17/49 | €283,837 | €226,082 | -€57,755 | -20.3% |
| Amounts payable after more than one year | 17 | €239,587 | €178,511 | -€61,075 | -25.5% |
| Financial debts | 170/4 | €239,587 | €178,511 | -€61,075 | -25.5% |
| Amounts payable within one year | 42/48 | €44,251 | €47,571 | +€3,320 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €28,464 | €22,075 | -€6,389 | -22.4% |
| Trade debts | 44 | €10,674 | €3,108 | -€7,565 | -70.9% |
| Suppliers | 440/4 | €10,674 | €3,108 | -€7,565 | -70.9% |
| Taxes, remuneration and social security | 45 | €3,010 | €3,295 | +€285 | +9.5% |
| Taxes | 450/3 | €3,010 | €3,295 | +€285 | +9.5% |
| Other amounts payable | 47/48 | €2,103 | €19,092 | +€16,989 | +808% |
| Turnover | 70 | €118,317 | €114,222 | -€4,095 | -3.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €37,984 | €33,281 | -€4,704 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,949 | €41,249 | -€699 | -1.7% |
| Other operating charges | 640/8 | €6,869 | €7,636 | +€768 | +11.2% |
| Gross operating margin | 9900 | €80,333 | €81,213 | +€880 | +1.1% |
| Operating profit (loss) | 9901 | €31,516 | €32,327 | +€811 | +2.6% |
| Financial income | 75/76B | €0 | €2,269 | +€2,269 | +11,343,900% |
| Recurring financial income | 75 | €0 | €2,269 | +€2,269 | +11,343,900% |
| Financial charges | 65/66B | €10,224 | €3,587 | -€6,637 | -64.9% |
| Recurring financial charges | 65 | €10,224 | €3,587 | -€6,637 | -64.9% |
| Profit (loss) for the period before taxes | 9903 | €21,292 | €31,008 | +€9,717 | +45.6% |
| Income taxes | 67/77 | €11,326 | €16,391 | +€5,065 | +44.7% |
| Profit (loss) for the period | 9904 | €9,966 | €14,617 | +€4,652 | +46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,966 | €14,617 | +€4,652 | +46.7% |
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 25 October 2026 via checked.be.