SIETE: 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.
SIETE
Largest movements
- Intangible fixed assets -€8,500
down €8,500 (-17.4%), from €48,834 to €40,334
- Cash -€2,843
down €2,843 (-16.1%), from €17,687 to €14,844
mainly Current portion of long-term debt (-€14,741) and Trade debts (-€4,358)
- Deferred charges and accrued income +€2,402
up €2,402 (+31.6%), from €7,600 to €10,002
- Stocks and contracts -€1,494
down €1,494 (-21.5%), from €6,941 to €5,447
- Current portion of long-term debt -€14,741
down €14,741 (-80.1%), from €18,409 to €3,668
- Profit (loss) carried forward +€9,201
up €9,201 (+16.5%), from -€55,639 to -€46,438
- Trade debts -€4,358
down €4,358 (-39.4%), from €11,055 to €6,697
- Other debts -€2,979
down €2,979 (-5.0%), from €60,065 to €57,086
- Tax, wage and social debts +€2,178
up €2,178 (+7.1%), from €30,620 to €32,798
of which Remuneration and social security: +€1,871
- Gross operating margin -€57,088
down €57,088 (-23.6%), from €242,302 to €185,214
- Staff costs -€55,748
down €55,748 (-25.7%), from €216,836 to €161,088
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 | €85,115 | €74,270 | -€10,845 | -12.7% |
| Fixed assets | 21/28 | €52,887 | €43,623 | -€9,265 | -17.5% |
| Intangible fixed assets | 21 | €48,834 | €40,334 | -€8,500 | -17.4% |
| Tangible fixed assets | 22/27 | €4,053 | €3,288 | -€765 | -18.9% |
| Plant, machinery and equipment | 23 | €3,827 | €3,288 | -€539 | -14.1% |
| Furniture and vehicles | 24 | €226 | €0 | -€226 | -100% |
| Current assets | 29/58 | €32,228 | €30,648 | -€1,580 | -4.9% |
| Stocks and contracts in progress | 3 | €6,941 | €5,447 | -€1,494 | -21.5% |
| Stocks | 30/36 | €6,941 | €5,447 | -€1,494 | -21.5% |
| Amounts receivable within one year | 40/41 | €0 | €355 | +€355 | |
| Trade receivables | 40 | €0 | €110 | +€110 | |
| Other amounts receivable | 41 | €0 | €245 | +€245 | |
| Cash at bank and in hand | 54/58 | €17,687 | €14,844 | -€2,843 | -16.1% |
| Deferred charges and accrued income | 490/1 | €7,600 | €10,002 | +€2,402 | +31.6% |
| Total equity and liabilities | 10/49 | €85,115 | €74,270 | -€10,845 | -12.7% |
| Equity | 10/15 | -€35,179 | -€25,978 | +€9,201 | +26.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,639 | -€46,438 | +€9,201 | +16.5% |
| Amounts payable | 17/49 | €120,294 | €100,248 | -€20,046 | -16.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €120,294 | €100,248 | -€20,046 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €18,409 | €3,668 | -€14,741 | -80.1% |
| Financial debts | 43 | €145 | €0 | -€145 | -100% |
| Credit institutions | 430/8 | €145 | €0 | -€145 | -100% |
| Trade debts | 44 | €11,055 | €6,697 | -€4,358 | -39.4% |
| Suppliers | 440/4 | €11,055 | €6,697 | -€4,358 | -39.4% |
| Taxes, remuneration and social security | 45 | €30,620 | €32,798 | +€2,178 | +7.1% |
| Taxes | 450/3 | €7,173 | €7,480 | +€307 | +4.3% |
| Remuneration and social security | 454/9 | €23,446 | €25,317 | +€1,871 | +8.0% |
| Other amounts payable | 47/48 | €60,065 | €57,086 | -€2,979 | -5.0% |
| Remuneration, social security and pensions | 62 | €216,836 | €161,088 | -€55,748 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,334 | €9,265 | -€70 | -0.7% |
| Other operating charges | 640/8 | €543 | €528 | -€16 | -2.9% |
| Gross operating margin | 9900 | €242,302 | €185,214 | -€57,088 | -23.6% |
| Operating profit (loss) | 9901 | €15,588 | €14,334 | -€1,254 | -8.0% |
| Financial income | 75/76B | €170 | €545 | +€375 | +220% |
| Recurring financial income | 75 | €170 | €545 | +€375 | +220% |
| Financial charges | 65/66B | €4,708 | €5,298 | +€590 | +12.5% |
| Recurring financial charges | 65 | €4,708 | €5,298 | +€590 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €11,051 | €9,581 | -€1,469 | -13.3% |
| Income taxes | 67/77 | €342 | €380 | +€39 | +11.3% |
| Profit (loss) for the period | 9904 | €10,709 | €9,201 | -€1,508 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,709 | €9,201 | -€1,508 | -14.1% |
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 16 October 2026 via checked.be.