SIGMA PROJECT: 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 PROJECT
Largest movements
- Stocks and contracts +€732,948
up €732,948 (+2166.4%), from €33,833 to €766,780
- Cash +€28,486
up €28,486 (+397.2%), from €7,172 to €35,658
mainly Other debts (+€755,410) and Trade debts (+€25,160)
- Other debts +€755,410
up €755,410 (+1888.5%), from €40,000 to €795,410
- Trade debts +€25,160
up €25,160 (+518.0%), from €4,857 to €30,017
- Profit (loss) carried forward -€17,876
down €17,876 (-268.6%), from -€6,655 to -€24,531
- Other operating charges +€5,671
up €5,671 (+7561.2%), from €75 to €5,746
- Gross operating margin -€5,038
down €5,038 (-76.7%), from -€6,569 to -€11,608
- Depreciation +€467
new in 2025: €467
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 | €48,202 | €810,895 | +€762,693 | +1582.3% |
| Fixed assets | 21/28 | - | €1,295 | +€1,295 | |
| Tangible fixed assets | 22/27 | - | €1,295 | +€1,295 | |
| Furniture and vehicles | 24 | - | €1,295 | +€1,295 | |
| Current assets | 29/58 | €48,202 | €809,600 | +€761,398 | +1579.6% |
| Stocks and contracts in progress | 3 | €33,833 | €766,780 | +€732,948 | +2166.4% |
| Stocks | 30/36 | €33,833 | €766,780 | +€732,948 | +2166.4% |
| Amounts receivable within one year | 40/41 | €3,015 | €7,089 | +€4,074 | +135.1% |
| Trade receivables | 40 | €387 | - | -€387 | |
| Other amounts receivable | 41 | €2,628 | €7,089 | +€4,461 | +169.8% |
| Cash at bank and in hand | 54/58 | €7,172 | €35,658 | +€28,486 | +397.2% |
| Deferred charges and accrued income | 490/1 | €4,182 | €72 | -€4,110 | -98.3% |
| Total equity and liabilities | 10/49 | €48,202 | €810,895 | +€762,693 | +1582.3% |
| Equity | 10/15 | €3,345 | -€14,531 | -€17,876 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,655 | -€24,531 | -€17,876 | -268.6% |
| Amounts payable | 17/49 | €44,857 | €825,426 | +€780,569 | +1740.1% |
| Amounts payable within one year | 42/48 | €44,857 | €825,426 | +€780,569 | +1740.1% |
| Trade debts | 44 | €4,857 | €30,017 | +€25,160 | +518.0% |
| Suppliers | 440/4 | €4,857 | €30,017 | +€25,160 | +518.0% |
| Other amounts payable | 47/48 | €40,000 | €795,410 | +€755,410 | +1888.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €467 | +€467 | |
| Other operating charges | 640/8 | €75 | €5,746 | +€5,671 | +7561.2% |
| Gross operating margin | 9900 | -€6,569 | -€11,608 | -€5,038 | -76.7% |
| Operating profit (loss) | 9901 | -€6,644 | -€17,820 | -€11,176 | -168.2% |
| Financial income | 75/76B | €1 | €1 | +€0 | +28.0% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +28.0% |
| Financial charges | 65/66B | €11 | €57 | +€46 | +421.6% |
| Recurring financial charges | 65 | €11 | €57 | +€46 | +421.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,655 | -€17,876 | -€11,222 | -168.6% |
| Profit (loss) for the period | 9904 | -€6,655 | -€17,876 | -€11,222 | -168.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,655 | -€17,876 | -€11,222 | -168.6% |
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 29 September 2026 via checked.be.