Sigma: what changed
Sigma
Largest movements
- Receivables within one year +€65,800
up €65,800 (+1,901%), from €3,461 to €69,261
of which Other amounts receivable: +€33,625
- Cash -€26,741
down €26,741 (-97.6%), from €27,393 to €652
mainly Receivables within one year (-€65,800) and Current portion of long-term debt (-€21,643)
- Tangible fixed assets -€15,311
down €15,311 (-17.4%), from €88,074 to €72,763
of which Furniture and vehicles: -€19,529
- Reserves +€33,768
up €33,768 (+47.6%), from €70,906 to €104,674
- Current portion of long-term debt -€21,643
down €21,643 (-81.1%), from €26,671 to €5,028
- Other debts +€8,310
new in 2025: €8,310
- Tax, wage and social debts +€7,456
up €7,456 (+46.4%), from €16,078 to €23,535
- Debts after one year -€5,028
no longer reported in 2025 (was €5,028)
- Gross operating margin -€13,011
down €13,011 (-12.6%), from €103,561 to €90,551
- Depreciation +€4,880
up €4,880 (+25.0%), from €19,534 to €24,414
- Taxes -€2,419
down €2,419 (-17.3%), from €13,984 to €11,565
Change in the result, 2024 to 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.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,709 | €144,324 | +€24,615 | +20.6% |
| Fixed assets | 21/28 | €88,074 | €72,763 | -€15,311 | -17.4% |
| Tangible fixed assets | 22/27 | €88,074 | €72,763 | -€15,311 | -17.4% |
| Plant, machinery and equipment | 23 | €9,256 | €13,474 | +€4,218 | +45.6% |
| Furniture and vehicles | 24 | €78,818 | €59,289 | -€19,529 | -24.8% |
| Current assets | 29/58 | €31,635 | €71,561 | +€39,926 | +126% |
| Amounts receivable within one year | 40/41 | €3,461 | €69,261 | +€65,800 | +1,901% |
| Trade receivables | 40 | €1,771 | €33,946 | +€32,175 | +1,817% |
| Other amounts receivable | 41 | €1,690 | €35,315 | +€33,625 | +1,989% |
| Cash at bank and in hand | 54/58 | €27,393 | €652 | -€26,741 | -97.6% |
| Deferred charges and accrued income | 490/1 | €781 | €1,648 | +€867 | +111% |
| Total equity and liabilities | 10/49 | €119,709 | €144,324 | +€24,615 | +20.6% |
| Equity | 10/15 | €71,906 | €105,674 | +€33,768 | +47.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €70,906 | €104,674 | +€33,768 | +47.6% |
| Distributable reserves | 133 | €70,906 | €104,674 | +€33,768 | +47.6% |
| Amounts payable | 17/49 | €47,803 | €38,649 | -€9,153 | -19.1% |
| Amounts payable after more than one year | 17 | €5,028 | - | -€5,028 | |
| Financial debts | 170/4 | €5,028 | - | -€5,028 | |
| Amounts payable within one year | 42/48 | €42,775 | €38,649 | -€4,125 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €26,671 | €5,028 | -€21,643 | -81.1% |
| Trade debts | 44 | €26 | €1,776 | +€1,751 | +6,852% |
| Suppliers | 440/4 | €26 | €1,776 | +€1,751 | +6,852% |
| Taxes, remuneration and social security | 45 | €16,078 | €23,535 | +€7,456 | +46.4% |
| Taxes | 450/3 | €16,078 | €23,535 | +€7,456 | +46.4% |
| Other amounts payable | 47/48 | - | €8,310 | +€8,310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,534 | €24,414 | +€4,880 | +25.0% |
| Other operating charges | 640/8 | €3,342 | €2,954 | -€388 | -11.6% |
| Gross operating margin | 9900 | €103,561 | €90,551 | -€13,011 | -12.6% |
| Operating profit (loss) | 9901 | €80,685 | €63,183 | -€17,502 | -21.7% |
| Financial income | 75/76B | €79 | €173 | +€95 | +121% |
| Recurring financial income | 75 | €79 | €173 | +€95 | +121% |
| Financial charges | 65/66B | €18,819 | €18,023 | -€796 | -4.2% |
| Recurring financial charges | 65 | €18,819 | €18,023 | -€796 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €61,944 | €45,333 | -€16,611 | -26.8% |
| Income taxes | 67/77 | €13,984 | €11,565 | -€2,419 | -17.3% |
| Profit (loss) for the period | 9904 | €47,961 | €33,768 | -€14,192 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,961 | €33,768 | -€14,192 | -29.6% |
Next steps
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 2 November 2026 via checked.be.