SIGECO: what changed
What changed
SIGECO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€56,319
31-12-2024 · -€83,137+€139,455
Equity
€84,228
31-12-2024 · €27,909+€56,319
Cash
€2,693
31-12-2024 · €3,005-€312
Balance sheet total
€667,854
31-12-2024 · €1.0m-€346,499
Largest movements
Assets
- Tangible fixed assets -€313,756
down €313,756 (-55.0%), from €570,784 to €257,028
of which Land and buildings: -€310,993
- Receivables within one year -€32,432
down €32,432 (-35.8%), from €90,565 to €58,133
of which Other amounts receivable: -€41,269
Equity and liabilities
- Debts after one year -€361,357
down €361,357 (-48.6%), from €743,839 to €382,481
- Profit (loss) carried forward +€56,319
up €56,319, from -€34,064 to €22,254
- Current portion of long-term debt -€39,544
down €39,544 (-49.6%), from €79,757 to €40,214
- Short-term financial debts +€20,909
up €20,909 (+137%), from €15,233 to €36,142
- Advances received -€19,023
down €19,023 (-100%), from €19,023 to €0
Income statement
- Gross operating margin +€95,365
up €95,365 (+1,318%), from €7,235 to €102,601
- Depreciation -€19,078
down €19,078 (-68.7%), from €27,776 to €8,698
- Other operating charges +€9,656
up €9,656 (+168%), from €5,739 to €15,396
- Financial charges -€5,031
down €5,031 (-18.5%), from €27,232 to €22,201
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
-€83,137
Gross operating margin
+€95,365
Depreciation
+€19,078
Other operating charges
-€9,656
Other operating items
+€29,625
Financial income
+€12
Financial charges
+€5,031
Result 31-12-2025
€56,319
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€74,623
Investment
+€305,058
Financing
-€379,992
Cash 31-12-2024
€3,005
From operations (derived)
+€74,623
Net result for the year
+€56,319
Depreciation
+€8,698
Receivables within one year
+€32,432
Trade debts
-€8,105
Advances received
-€19,023
Other debts
+€4,900
Accrued charges and deferred income
-€598
Investment (derived)
+€305,058
Investment in fixed assets (net)
+€305,058
Financing
-€379,992
Debts after one year
-€361,357
Current portion of long-term debt
-€39,544
Short-term financial debts
+€20,909
Cash 31-12-2025
€2,693
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,014,353 | €667,854 | -€346,499 | -34.2% |
| Fixed assets | 21/28 | €920,784 | €607,028 | -€313,756 | -34.1% |
| Tangible fixed assets | 22/27 | €570,784 | €257,028 | -€313,756 | -55.0% |
| Land and buildings | 22 | €568,022 | €257,028 | -€310,993 | -54.8% |
| Plant, machinery and equipment | 23 | €2,763 | €0 | -€2,763 | -100% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €93,569 | €60,826 | -€32,744 | -35.0% |
| Amounts receivable within one year | 40/41 | €90,565 | €58,133 | -€32,432 | -35.8% |
| Trade receivables | 40 | €37,468 | €46,305 | +€8,837 | +23.6% |
| Other amounts receivable | 41 | €53,096 | €11,828 | -€41,269 | -77.7% |
| Cash at bank and in hand | 54/58 | €3,005 | €2,693 | -€312 | -10.4% |
| Total equity and liabilities | 10/49 | €1,014,353 | €667,854 | -€346,499 | -34.2% |
| Equity | 10/15 | €27,909 | €84,228 | +€56,319 | +202% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,064 | €22,254 | +€56,319 | |
| Amounts payable | 17/49 | €986,444 | €583,626 | -€402,818 | -40.8% |
| Amounts payable after more than one year | 17 | €743,839 | €382,481 | -€361,357 | -48.6% |
| Financial debts | 170/4 | €743,839 | €382,481 | -€361,357 | -48.6% |
| Amounts payable within one year | 42/48 | €240,949 | €200,086 | -€40,863 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €79,757 | €40,214 | -€39,544 | -49.6% |
| Financial debts | 43 | €15,233 | €36,142 | +€20,909 | +137% |
| Credit institutions | 430/8 | €15,233 | €36,142 | +€20,909 | +137% |
| Trade debts | 44 | €24,175 | €16,070 | -€8,105 | -33.5% |
| Suppliers | 440/4 | €24,175 | €16,070 | -€8,105 | -33.5% |
| Advances received on contracts in progress | 46 | €19,023 | €0 | -€19,023 | -100% |
| Other amounts payable | 47/48 | €102,760 | €107,660 | +€4,900 | +4.8% |
| Accrued charges and deferred income | 492/3 | €1,657 | €1,059 | -€598 | -36.1% |
| Non-recurring operating income | 76A | €5,500 | €110,330 | +€104,830 | +1,906% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,776 | €8,698 | -€19,078 | -68.7% |
| Other operating charges | 640/8 | €5,739 | €15,396 | +€9,656 | +168% |
| Non-recurring operating charges | 66A | €29,625 | €0 | -€29,625 | -100% |
| Gross operating margin | 9900 | €7,235 | €102,601 | +€95,365 | +1,318% |
| Operating profit (loss) | 9901 | -€55,905 | €78,507 | +€134,412 | |
| Financial income | 75/76B | €0 | €12 | +€12 | |
| Recurring financial income | 75 | €0 | €12 | +€12 | |
| Financial charges | 65/66B | €27,232 | €22,201 | -€5,031 | -18.5% |
| Recurring financial charges | 65 | €27,232 | €22,201 | -€5,031 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | -€83,137 | €56,319 | +€139,455 | |
| Profit (loss) for the period | 9904 | -€83,137 | €56,319 | +€139,455 | |
| Profit (loss) for the period to be appropriated | 9905 | -€83,137 | €56,319 | +€139,455 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.