SIGM: what changed
Two fiscal 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.
SIGM
Largest movements
- Cash +€79,104
up €79,104 (+76.9%), from €102,826 to €181,930
mainly Receivables within one year (+€37,497) and Net result for the year (+€33,835)
- Receivables within one year -€37,497
down €37,497 (-26.7%), from €140,486 to €102,989
of which Other amounts receivable: -€37,667
- Reserves +€33,836
up €33,836 (+2.7%), from €1.3m to €1.3m
of which Distributable reserves: +€44,911
- Trade debts -€23,771
down €23,771 (-83.0%), from €28,651 to €4,880
- Financial income -€3,589
down €3,589 (-39.1%), from €9,177 to €5,588
of which Financial income: -€3,692
- Taxes +€2,957
up €2,957 (+24.4%), from €12,102 to €15,059
- Depreciation +€2,441
up €2,441 (+24.3%), from €10,037 to €12,478
- Gross operating margin +€2,388
up €2,388 (+3.3%), from €73,321 to €75,709
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.
Cash bridge derived
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 | €2,134,131 | €2,157,763 | +€23,632 | +1.1% |
| Fixed assets | 21/28 | €1,567,013 | €1,554,535 | -€12,478 | -0.8% |
| Tangible fixed assets | 22/27 | €129,513 | €117,035 | -€12,478 | -9.6% |
| Land and buildings | 22 | €129,513 | €117,035 | -€12,478 | -9.6% |
| Financial fixed assets | 28 | €1,437,500 | €1,437,500 | = | 0.0% |
| Current assets | 29/58 | €567,118 | €603,228 | +€36,110 | +6.4% |
| Amounts receivable within one year | 40/41 | €140,486 | €102,989 | -€37,497 | -26.7% |
| Trade receivables | 40 | €5,385 | €5,555 | +€170 | +3.2% |
| Other amounts receivable | 41 | €135,101 | €97,434 | -€37,667 | -27.9% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €102,826 | €181,930 | +€79,104 | +76.9% |
| Deferred charges and accrued income | 490/1 | €23,806 | €18,309 | -€5,497 | -23.1% |
| Total equity and liabilities | 10/49 | €2,134,131 | €2,157,763 | +€23,632 | +1.1% |
| Equity | 10/15 | €1,937,441 | €1,971,277 | +€33,836 | +1.7% |
| Contributions | 10/11 | €682,992 | €682,992 | = | 0.0% |
| Capital | 10 | €682,992 | €682,992 | = | 0.0% |
| Issued capital | 100 | €682,992 | €682,992 | = | 0.0% |
| Reserves | 13 | €1,254,449 | €1,288,285 | +€33,836 | +2.7% |
| Non-distributable reserves | 130/1 | €68,299 | €68,299 | = | 0.0% |
| Legal reserve | 130 | €68,299 | €68,299 | = | 0.0% |
| Tax-exempt reserves | 132 | €310,665 | €299,590 | -€11,075 | -3.6% |
| Distributable reserves | 133 | €875,485 | €920,396 | +€44,911 | +5.1% |
| Provisions and deferred taxes | 16 | €168,039 | €163,387 | -€4,652 | -2.8% |
| Deferred taxes | 168 | €168,039 | €163,387 | -€4,652 | -2.8% |
| Amounts payable | 17/49 | €28,651 | €23,099 | -€5,552 | -19.4% |
| Amounts payable within one year | 42/48 | €28,651 | €4,885 | -€23,766 | -82.9% |
| Trade debts | 44 | €28,651 | €4,880 | -€23,771 | -83.0% |
| Suppliers | 440/4 | €28,651 | €4,880 | -€23,771 | -83.0% |
| Taxes, remuneration and social security | 45 | - | €5 | +€5 | |
| Taxes | 450/3 | - | €5 | +€5 | |
| Accrued charges and deferred income | 492/3 | - | €18,214 | +€18,214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,037 | €12,478 | +€2,441 | +24.3% |
| Other operating charges | 640/8 | €23,360 | €24,117 | +€757 | +3.2% |
| Gross operating margin | 9900 | €73,321 | €75,709 | +€2,388 | +3.3% |
| Operating profit (loss) | 9901 | €39,924 | €39,114 | -€810 | -2.0% |
| Financial income | 75/76B | €9,177 | €5,588 | -€3,589 | -39.1% |
| Recurring financial income | 75 | €8,880 | €5,188 | -€3,692 | -41.6% |
| Non-recurring financial income | 76B | €297 | €400 | +€103 | +34.7% |
| Financial charges | 65/66B | €702 | €460 | -€242 | -34.5% |
| Recurring financial charges | 65 | €595 | €336 | -€259 | -43.5% |
| Non-recurring financial charges | 66B | €107 | €124 | +€17 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €48,399 | €44,242 | -€4,157 | -8.6% |
| Transfer from deferred taxes | 780 | €4,652 | €4,652 | = | 0.0% |
| Income taxes | 67/77 | €12,102 | €15,059 | +€2,957 | +24.4% |
| Profit (loss) for the period | 9904 | €40,949 | €33,835 | -€7,114 | -17.4% |
| Transfer from tax-exempt reserves | 789 | €11,076 | €11,076 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,025 | €44,911 | -€7,114 | -13.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.