SIGECO: 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.
What changed
SIGECO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €2.4m-€283,045
Equity
€23.0m
2024 · €20.9m+€2.1m
Cash
€1.4m
2024 · €1.7m-€342,521
Balance sheet total
€28.3m
2024 · €30.1m-€1.8m
Largest movements
Assets
- Financial fixed assets -€1.1m
down €1.1m (-5.8%), from €19.2m to €18.1m
- Cash -€342,521
down €342,521 (-20.2%), from €1.7m to €1.4m
mainly Debts after one year (-€4.1m) and Provisions (-€45,682)
Equity and liabilities
- Debts after one year -€4.1m
down €4.1m (-50.0%), from €8.3m to €4.2m
- Profit (loss) carried forward +€2.2m
up €2.2m (+13.5%), from €16.5m to €18.7m
Income statement
- Financial charges +€305,788
up €305,788 (+447%), from €68,451 to €374,239
of which Financial charges: +€200,242
- Financial income -€209,823
down €209,823 (-7.1%), from €3.0m to €2.8m
of which Non-recurring financial income: -€326,920
- Depreciation -€117,604
down €117,604 (-23.5%), from €500,288 to €382,684
- Gross operating margin +€73,292
up €73,292 (+204%), from €35,877 to €109,169
- Other operating charges -€6,312
down €6,312 (-10.0%), from €63,040 to €56,728
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.
Result 2024
€2.4m
Gross operating margin
+€73,292
Depreciation
+€117,604
Other operating charges
+€6,312
Other operating items
+€35,341
Financial income
-€209,823
Financial charges
-€305,788
Taxes
+€16
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.8m
Investment
+€980,317
Financing
-€4.1m
Cash 2024
€1.7m
From operations (derived)
+€2.8m
Net result for the year
+€2.1m
Depreciation
+€382,684
Receivables within one year
+€63,995
Deferred charges and accrued income
+€68,076
Provisions
-€45,682
Smaller working-capital items
+€6,199
Accrued charges and deferred income
+€247,847
Investment (derived)
+€980,317
Investment in fixed assets (net)
+€980,317
Financing
-€4.1m
Debts after one year
-€4.1m
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,094,528 | €28,256,936 | -€1.8m | -6.1% |
| Fixed assets | 21/28 | €27,987,880 | €26,624,879 | -€1.4m | -4.9% |
| Tangible fixed assets | 22/27 | €8,774,566 | €8,522,601 | -€251,965 | -2.9% |
| Land and buildings | 22 | €7,020,194 | €6,806,761 | -€213,433 | -3.0% |
| Plant, machinery and equipment | 23 | €1,612,673 | €1,556,155 | -€56,517 | -3.5% |
| Furniture and vehicles | 24 | €141,700 | €145,667 | +€3,967 | +2.8% |
| Assets under construction and advance payments | 27 | - | €14,018 | +€14,018 | |
| Financial fixed assets | 28 | €19,213,313 | €18,102,278 | -€1.1m | -5.8% |
| Current assets | 29/58 | €2,106,648 | €1,632,057 | -€474,592 | -22.5% |
| Amounts receivable within one year | 40/41 | €340,541 | €276,546 | -€63,995 | -18.8% |
| Trade receivables | 40 | €49,425 | €17,347 | -€32,078 | -64.9% |
| Other amounts receivable | 41 | €291,116 | €259,199 | -€31,917 | -11.0% |
| Cash at bank and in hand | 54/58 | €1,697,117 | €1,354,596 | -€342,521 | -20.2% |
| Deferred charges and accrued income | 490/1 | €68,990 | €915 | -€68,076 | -98.7% |
| Total equity and liabilities | 10/49 | €30,094,528 | €28,256,936 | -€1.8m | -6.1% |
| Equity | 10/15 | €20,944,001 | €23,041,945 | +€2.1m | +10.0% |
| Contributions | 10/11 | €291,275 | €291,275 | = | 0.0% |
| Capital | 10 | €291,275 | €291,275 | = | 0.0% |
| Issued capital | 100 | €291,275 | €291,275 | = | 0.0% |
| Reserves | 13 | €4,155,346 | €4,018,300 | -€137,047 | -3.3% |
| Non-distributable reserves | 130/1 | €29,127 | €29,127 | = | 0.0% |
| Legal reserve | 130 | €29,127 | €29,127 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,129,516 | €1,992,469 | -€137,047 | -6.4% |
| Distributable reserves | 133 | €1,996,703 | €1,996,703 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,497,380 | €18,732,370 | +€2.2m | +13.5% |
| Provisions and deferred taxes | 16 | €708,839 | €663,156 | -€45,682 | -6.4% |
| Deferred taxes | 168 | €708,839 | €663,156 | -€45,682 | -6.4% |
| Amounts payable | 17/49 | €8,441,688 | €4,551,835 | -€3.9m | -46.1% |
| Amounts payable after more than one year | 17 | €8,295,915 | €4,152,015 | -€4.1m | -50.0% |
| Other amounts payable | 178/9 | €8,295,915 | €4,152,015 | -€4.1m | -50.0% |
| Amounts payable within one year | 42/48 | €831 | €7,030 | +€6,199 | +746% |
| Trade debts | 44 | - | €5,631 | +€5,631 | |
| Suppliers | 440/4 | - | €5,631 | +€5,631 | |
| Taxes, remuneration and social security | 45 | €831 | €1,399 | +€568 | +68.3% |
| Taxes | 450/3 | €831 | €1,399 | +€568 | +68.3% |
| Accrued charges and deferred income | 492/3 | €144,942 | €392,790 | +€247,847 | +171% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500,288 | €382,684 | -€117,604 | -23.5% |
| Other operating charges | 640/8 | €63,040 | €56,728 | -€6,312 | -10.0% |
| Non-recurring operating charges | 66A | €35,341 | - | -€35,341 | |
| Gross operating margin | 9900 | €35,877 | €109,169 | +€73,292 | +204% |
| Operating profit (loss) | 9901 | -€562,792 | -€330,243 | +€232,549 | +41.3% |
| Financial income | 75/76B | €2,967,353 | €2,757,531 | -€209,823 | -7.1% |
| Recurring financial income | 75 | €2,640,433 | €2,757,531 | +€117,098 | +4.4% |
| Non-recurring financial income | 76B | €326,920 | - | -€326,920 | |
| Financial charges | 65/66B | €68,451 | €374,239 | +€305,788 | +447% |
| Recurring financial charges | 65 | €68,451 | €268,693 | +€200,242 | +293% |
| Non-recurring financial charges | 66B | - | €105,546 | +€105,546 | |
| Profit (loss) for the period before taxes | 9903 | €2,336,110 | €2,053,049 | -€283,061 | -12.1% |
| Transfer from deferred taxes | 780 | €45,682 | €45,682 | = | 0.0% |
| Income taxes | 67/77 | €804 | €787 | -€16 | -2.0% |
| Profit (loss) for the period | 9904 | €2,380,989 | €2,097,944 | -€283,045 | -11.9% |
| Transfer from tax-exempt reserves | 789 | €137,047 | €137,047 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,518,035 | €2,234,991 | -€283,045 | -11.2% |
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 14 October 2026 via checked.be.