SIGEP: 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.
SIGEP
Largest movements
- Receivables within one year -€14,102
down €14,102 (-43.0%), from €32,795 to €18,693
of which Trade receivables: -€24,551
- Cash -€13,557
down €13,557 (-87.4%), from €15,513 to €1,956
mainly Net result for the year (-€8,975) and Other debts (-€8,916)
- Tangible fixed assets -€6,419
down €6,419 (-17.7%), from €36,268 to €29,849
of which Furniture and vehicles: -€6,119
- Profit (loss) carried forward -€8,975
down €8,975 (-14.7%), from -€61,027 to -€70,003
- Other debts -€8,916
no longer reported in 2025 (was €8,916)
- Trade debts -€8,548
down €8,548 (-48.2%), from €17,727 to €9,179
- Tax, wage and social debts -€6,536
no longer reported in 2025 (was €6,536)
of which Taxes: -€5,942
- Gross operating margin -€15,792
down €15,792 (-51.3%), from €30,765 to €14,973
- Taxes -€4,844
down €4,844 (-99.5%), from €4,867 to €22
- Financial income -€3,688
down €3,688 (-45.6%), from €8,080 to €4,392
of which Financial income: -€8,080
- Other operating charges +€2,921
up €2,921 (+834%), from €350 to €3,271
- Staff costs +€1,032
up €1,032 (+8.9%), from €11,576 to €12,609
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 | €86,543 | €52,918 | -€33,625 | -38.9% |
| Fixed assets | 21/28 | €37,808 | €31,389 | -€6,419 | -17.0% |
| Tangible fixed assets | 22/27 | €36,268 | €29,849 | -€6,419 | -17.7% |
| Land and buildings | 22 | €15,000 | €15,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,021 | €3,721 | -€300 | -7.5% |
| Furniture and vehicles | 24 | €17,247 | €11,128 | -€6,119 | -35.5% |
| Financial fixed assets | 28 | €1,540 | €1,540 | = | 0.0% |
| Current assets | 29/58 | €48,736 | €21,529 | -€27,206 | -55.8% |
| Amounts receivable within one year | 40/41 | €32,795 | €18,693 | -€14,102 | -43.0% |
| Trade receivables | 40 | €31,569 | €7,018 | -€24,551 | -77.8% |
| Other amounts receivable | 41 | €1,226 | €11,675 | +€10,449 | +852% |
| Cash at bank and in hand | 54/58 | €15,513 | €1,956 | -€13,557 | -87.4% |
| Deferred charges and accrued income | 490/1 | €428 | €881 | +€453 | +106% |
| Total equity and liabilities | 10/49 | €86,543 | €52,918 | -€33,625 | -38.9% |
| Equity | 10/15 | €48,973 | €39,997 | -€8,975 | -18.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,027 | -€70,003 | -€8,975 | -14.7% |
| Provisions and deferred taxes | 16 | €4,392 | €3,741 | -€650 | -14.8% |
| Provisions for liabilities and charges | 160/5 | €4,392 | €3,741 | -€650 | -14.8% |
| Other liabilities and charges | 164/5 | €4,392 | €3,741 | -€650 | -14.8% |
| Amounts payable | 17/49 | €33,179 | €9,179 | -€23,999 | -72.3% |
| Amounts payable within one year | 42/48 | €33,179 | €9,179 | -€23,999 | -72.3% |
| Trade debts | 44 | €17,727 | €9,179 | -€8,548 | -48.2% |
| Suppliers | 440/4 | €17,727 | €9,179 | -€8,548 | -48.2% |
| Taxes, remuneration and social security | 45 | €6,536 | - | -€6,536 | |
| Taxes | 450/3 | €5,942 | - | -€5,942 | |
| Remuneration and social security | 454/9 | €593 | - | -€593 | |
| Other amounts payable | 47/48 | €8,916 | - | -€8,916 | |
| Remuneration, social security and pensions | 62 | €11,576 | €12,609 | +€1,032 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,463 | €8,459 | -€1,004 | -10.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,392 | €3,741 | -€650 | -14.8% |
| Other operating charges | 640/8 | €350 | €3,271 | +€2,921 | +834% |
| Gross operating margin | 9900 | €30,765 | €14,973 | -€15,792 | -51.3% |
| Operating profit (loss) | 9901 | €4,983 | -€13,108 | -€18,091 | |
| Financial income | 75/76B | €8,080 | €4,392 | -€3,688 | -45.6% |
| Recurring financial income | 75 | €8,080 | €1 | -€8,080 | -100.0% |
| Non-recurring financial income | 76B | €8,080 | €4,392 | -€3,688 | -45.6% |
| Financial charges | 65/66B | €239 | €238 | -€2 | -0.7% |
| Recurring financial charges | 65 | €239 | €238 | -€2 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €12,824 | -€8,953 | -€21,777 | |
| Income taxes | 67/77 | €4,867 | €22 | -€4,844 | -99.5% |
| Profit (loss) for the period | 9904 | €7,957 | -€8,975 | -€16,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,957 | -€8,975 | -€16,933 |
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 13 October 2026 via checked.be.