Sierpoort: 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.
Sierpoort
Largest movements
- Tangible fixed assets -€28,298
down €28,298 (-21.1%), from €134,019 to €105,721
of which Furniture and vehicles: -€15,568
- Cash +€27,491
up €27,491 (+38.2%), from €71,933 to €99,424
mainly Depreciation (+€42,201) and Other debts (+€27,256)
- Receivables within one year -€20,967
down €20,967 (-26.5%), from €79,064 to €58,097
of which Trade receivables: -€17,315
- Stocks and contracts -€18,262
down €18,262 (-64.3%), from €28,402 to €10,140
- Reserves -€31,489
no longer reported in 2025 (was €31,489)
- Other debts +€27,256
up €27,256 (+60.3%), from €45,172 to €72,428
- Accrued charges and deferred income -€15,147
down €15,147 (-81.0%), from €18,693 to €3,546
- Trade debts +€14,996
up €14,996 (+37.7%), from €39,784 to €54,780
- Tax, wage and social debts -€13,705
down €13,705 (-76.3%), from €17,957 to €4,252
- Gross operating margin -€28,342
down €28,342 (-29.6%), from €95,845 to €67,503
- Taxes -€3,006
down €3,006 (-45.2%), from €6,654 to €3,648
- Financial charges -€1,142
down €1,142 (-17.0%), from €6,712 to €5,571
of which Non-recurring financial charges: -€1,770
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 | €318,205 | €277,605 | -€40,600 | -12.8% |
| Fixed assets | 21/28 | €134,019 | €105,721 | -€28,298 | -21.1% |
| Tangible fixed assets | 22/27 | €134,019 | €105,721 | -€28,298 | -21.1% |
| Plant, machinery and equipment | 23 | €19,001 | €13,207 | -€5,794 | -30.5% |
| Furniture and vehicles | 24 | €82,872 | €67,304 | -€15,568 | -18.8% |
| Other tangible fixed assets | 26 | €32,146 | €25,210 | -€6,936 | -21.6% |
| Current assets | 29/58 | €184,186 | €171,884 | -€12,302 | -6.7% |
| Stocks and contracts in progress | 3 | €28,402 | €10,140 | -€18,262 | -64.3% |
| Stocks | 30/36 | €28,402 | €10,140 | -€18,262 | -64.3% |
| Amounts receivable within one year | 40/41 | €79,064 | €58,097 | -€20,967 | -26.5% |
| Trade receivables | 40 | €70,714 | €53,399 | -€17,315 | -24.5% |
| Other amounts receivable | 41 | €8,349 | €4,698 | -€3,652 | -43.7% |
| Cash at bank and in hand | 54/58 | €71,933 | €99,424 | +€27,491 | +38.2% |
| Deferred charges and accrued income | 490/1 | €4,787 | €4,223 | -€565 | -11.8% |
| Total equity and liabilities | 10/49 | €318,205 | €277,605 | -€40,600 | -12.8% |
| Equity | 10/15 | €50,089 | €18,600 | -€31,489 | -62.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,489 | - | -€31,489 | |
| Distributable reserves | 133 | €31,489 | - | -€31,489 | |
| Amounts payable | 17/49 | €268,116 | €259,005 | -€9,111 | -3.4% |
| Amounts payable after more than one year | 17 | €123,898 | €111,389 | -€12,509 | -10.1% |
| Financial debts | 170/4 | €28,967 | €16,458 | -€12,509 | -43.2% |
| Other amounts payable | 178/9 | €94,931 | €94,931 | = | 0.0% |
| Amounts payable within one year | 42/48 | €125,525 | €144,070 | +€18,544 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €22,612 | €12,609 | -€10,003 | -44.2% |
| Trade debts | 44 | €39,784 | €54,780 | +€14,996 | +37.7% |
| Suppliers | 440/4 | €39,784 | €54,780 | +€14,996 | +37.7% |
| Taxes, remuneration and social security | 45 | €17,957 | €4,252 | -€13,705 | -76.3% |
| Taxes | 450/3 | €17,957 | €4,252 | -€13,705 | -76.3% |
| Other amounts payable | 47/48 | €45,172 | €72,428 | +€27,256 | +60.3% |
| Accrued charges and deferred income | 492/3 | €18,693 | €3,546 | -€15,147 | -81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,979 | €42,201 | -€778 | -1.8% |
| Other operating charges | 640/8 | €2,409 | €2,303 | -€106 | -4.4% |
| Gross operating margin | 9900 | €95,845 | €67,503 | -€28,342 | -29.6% |
| Operating profit (loss) | 9901 | €50,457 | €23,000 | -€27,457 | -54.4% |
| Financial income | 75/76B | €24 | €13 | -€11 | -44.4% |
| Recurring financial income | 75 | €24 | €13 | -€11 | -44.4% |
| Financial charges | 65/66B | €6,712 | €5,571 | -€1,142 | -17.0% |
| Recurring financial charges | 65 | €4,942 | €5,571 | +€628 | +12.7% |
| Non-recurring financial charges | 66B | €1,770 | - | -€1,770 | |
| Profit (loss) for the period before taxes | 9903 | €43,768 | €17,442 | -€26,326 | -60.1% |
| Income taxes | 67/77 | €6,654 | €3,648 | -€3,006 | -45.2% |
| Profit (loss) for the period | 9904 | €37,114 | €13,794 | -€23,320 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,114 | €13,794 | -€23,320 | -62.8% |
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 25 October 2026 via checked.be.