SIGMA: 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.
SIGMA
Largest movements
- Cash +€215,074
up €215,074 (+248.6%), from €86,498 to €301,571
mainly Current investments (+€149,508) and Net result for the year (+€60,512)
- Current investments -€149,508
down €149,508 (-96.6%), from €154,803 to €5,294
- Receivables within one year -€25,521
down €25,521 (-61.8%), from €41,314 to €15,793
of which Other amounts receivable: -€17,853
- Reserves +€39,318
up €39,318 (+14.3%), from €274,383 to €313,701
- Tax, wage and social debts -€4,047
down €4,047 (-40.6%), from €9,962 to €5,915
- Gross operating margin +€54,321
up €54,321 (+140.8%), from €38,574 to €92,895
- Taxes +€21,978
up €21,978 (+277.8%), from €7,911 to €29,889
- Write-downs -€3,137
down €3,137 (-75.1%), from €4,178 to €1,041
- Financial income -€2,109
down €2,109 (-82.8%), from €2,547 to €438
- Depreciation -€1,499
down €1,499 (-49.1%), from €3,051 to €1,551
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 | €288,901 | €327,461 | +€38,560 | +13.3% |
| Fixed assets | 21/28 | €5,316 | €3,765 | -€1,551 | -29.2% |
| Tangible fixed assets | 22/27 | €3,686 | €2,135 | -€1,551 | -42.1% |
| Plant, machinery and equipment | 23 | €2,386 | €835 | -€1,551 | -65.0% |
| Other tangible fixed assets | 26 | €1,300 | €1,300 | = | 0.0% |
| Financial fixed assets | 28 | €1,630 | €1,630 | = | 0.0% |
| Current assets | 29/58 | €283,585 | €323,697 | +€40,111 | +14.1% |
| Amounts receivable within one year | 40/41 | €41,314 | €15,793 | -€25,521 | -61.8% |
| Trade receivables | 40 | €23,460 | €15,793 | -€7,667 | -32.7% |
| Other amounts receivable | 41 | €17,853 | - | -€17,853 | |
| Current investments | 50/53 | €154,803 | €5,294 | -€149,508 | -96.6% |
| Cash at bank and in hand | 54/58 | €86,498 | €301,571 | +€215,074 | +248.6% |
| Deferred charges and accrued income | 490/1 | €971 | €1,038 | +€66 | +6.8% |
| Total equity and liabilities | 10/49 | €288,901 | €327,461 | +€38,560 | +13.3% |
| Equity | 10/15 | €275,383 | €314,701 | +€39,318 | +14.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €274,383 | €313,701 | +€39,318 | +14.3% |
| Distributable reserves | 133 | €274,383 | €313,701 | +€39,318 | +14.3% |
| Amounts payable | 17/49 | €13,518 | €12,760 | -€759 | -5.6% |
| Amounts payable within one year | 42/48 | €13,518 | €12,760 | -€759 | -5.6% |
| Trade debts | 44 | €16 | €143 | +€127 | +816.1% |
| Suppliers | 440/4 | €16 | €143 | +€127 | +816.1% |
| Taxes, remuneration and social security | 45 | €9,962 | €5,915 | -€4,047 | -40.6% |
| Taxes | 450/3 | €9,962 | €5,915 | -€4,047 | -40.6% |
| Other amounts payable | 47/48 | €3,541 | €6,702 | +€3,161 | +89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,051 | €1,551 | -€1,499 | -49.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,178 | €1,041 | -€3,137 | -75.1% |
| Other operating charges | 640/8 | €118 | €144 | +€26 | +22.1% |
| Non-recurring operating charges | 66A | €9,077 | - | -€9,077 | |
| Gross operating margin | 9900 | €38,574 | €92,895 | +€54,321 | +140.8% |
| Operating profit (loss) | 9901 | €22,150 | €90,159 | +€68,009 | +307.0% |
| Financial income | 75/76B | €2,547 | €438 | -€2,109 | -82.8% |
| Recurring financial income | 75 | €2,547 | €438 | -€2,109 | -82.8% |
| Financial charges | 65/66B | €340 | €196 | -€144 | -42.3% |
| Recurring financial charges | 65 | €340 | €196 | -€144 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €24,357 | €90,401 | +€66,044 | +271.1% |
| Income taxes | 67/77 | €7,911 | €29,889 | +€21,978 | +277.8% |
| Profit (loss) for the period | 9904 | €16,447 | €60,512 | +€44,066 | +267.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,447 | €60,512 | +€44,066 | +267.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.