SIGIL CONSULT: 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.
SIGIL CONSULT
Largest movements
- Current investments -€126,642
down €126,642 (-35.6%), from €355,393 to €228,751
- Tangible fixed assets +€116,887
up €116,887 (+10.8%), from €1.1m to €1.2m
of which Land and buildings: +€71,210
- Receivables within one year +€83,419
up €83,419 (+151%), from €55,178 to €138,597
of which Trade receivables: +€84,376
- Cash +€30,378
up €30,378 (+11.0%), from €277,159 to €307,537
mainly Net result for the year (+€399,214) and Current investments (+€126,642)
- Reserves +€52,122
up €52,122 (+3.0%), from €1.7m to €1.8m
- Other debts +€51,266
up €51,266 (+80.3%), from €63,824 to €115,090
- Gross operating margin +€234,102
up €234,102 (+62.3%), from €376,038 to €610,140
- Depreciation +€67,869
up €67,869 (+807%), from €8,408 to €76,277
- Taxes +€37,498
up €37,498 (+39.9%), from €94,064 to €131,561
- Financial charges +€16,036
up €16,036, from -€8,433 to €7,603
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 | €1,863,417 | €1,967,436 | +€104,020 | +5.6% |
| Fixed assets | 21/28 | €1,172,956 | €1,289,844 | +€116,887 | +10.0% |
| Tangible fixed assets | 22/27 | €1,086,875 | €1,203,763 | +€116,887 | +10.8% |
| Land and buildings | 22 | €1,084,325 | €1,155,535 | +€71,210 | +6.6% |
| Plant, machinery and equipment | 23 | - | €1,699 | +€1,699 | |
| Furniture and vehicles | 24 | €2,550 | €46,528 | +€43,978 | +1,725% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €86,081 | €86,081 | = | 0.0% |
| Current assets | 29/58 | €690,460 | €677,592 | -€12,868 | -1.9% |
| Amounts receivable within one year | 40/41 | €55,178 | €138,597 | +€83,419 | +151% |
| Trade receivables | 40 | €53,912 | €138,289 | +€84,376 | +157% |
| Other amounts receivable | 41 | €1,265 | €308 | -€957 | -75.6% |
| Current investments | 50/53 | €355,393 | €228,751 | -€126,642 | -35.6% |
| Cash at bank and in hand | 54/58 | €277,159 | €307,537 | +€30,378 | +11.0% |
| Deferred charges and accrued income | 490/1 | €2,731 | €2,707 | -€23 | -0.9% |
| Total equity and liabilities | 10/49 | €1,863,417 | €1,967,436 | +€104,020 | +5.6% |
| Equity | 10/15 | €1,737,882 | €1,790,004 | +€52,122 | +3.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,712,882 | €1,765,004 | +€52,122 | +3.0% |
| Distributable reserves | 133 | €1,712,882 | €1,765,004 | +€52,122 | +3.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €125,534 | €177,432 | +€51,898 | +41.3% |
| Amounts payable within one year | 42/48 | €120,924 | €172,151 | +€51,228 | +42.4% |
| Trade debts | 44 | €24,622 | €7,702 | -€16,920 | -68.7% |
| Suppliers | 440/4 | €24,622 | €7,702 | -€16,920 | -68.7% |
| Taxes, remuneration and social security | 45 | €32,478 | €49,360 | +€16,883 | +52.0% |
| Taxes | 450/3 | €30,024 | €46,907 | +€16,883 | +56.2% |
| Remuneration and social security | 454/9 | €2,454 | €2,454 | = | 0.0% |
| Other amounts payable | 47/48 | €63,824 | €115,090 | +€51,266 | +80.3% |
| Accrued charges and deferred income | 492/3 | €4,611 | €5,281 | +€670 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,408 | €76,277 | +€67,869 | +807% |
| Other operating charges | 640/8 | €818 | €368 | -€450 | -55.0% |
| Gross operating margin | 9900 | €376,038 | €610,140 | +€234,102 | +62.3% |
| Operating profit (loss) | 9901 | €366,812 | €533,495 | +€166,683 | +45.4% |
| Financial income | 75/76B | €8,152 | €4,884 | -€3,268 | -40.1% |
| Recurring financial income | 75 | €8,152 | €4,884 | -€3,268 | -40.1% |
| Financial charges | 65/66B | -€8,433 | €7,603 | +€16,036 | |
| Recurring financial charges | 65 | -€8,433 | €7,603 | +€16,036 | |
| Profit (loss) for the period before taxes | 9903 | €383,397 | €530,776 | +€147,378 | +38.4% |
| Income taxes | 67/77 | €94,064 | €131,561 | +€37,498 | +39.9% |
| Profit (loss) for the period | 9904 | €289,334 | €399,214 | +€109,881 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €289,334 | €399,214 | +€109,881 | +38.0% |
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.