SIGMAS: 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.
SIGMAS
Largest movements
- Cash -€34,907
down €34,907 (-42.9%), from €81,421 to €46,514
mainly Other debts (-€26,350) and Contributions, distributions and other (-€19,214)
- Deferred charges and accrued income +€9,862
up €9,862 (+882.9%), from €1,117 to €10,980
- Tangible fixed assets -€3,761
down €3,761 (-30.9%), from €12,155 to €8,394
of which Furniture and vehicles: -€3,351
- Receivables within one year +€3,724
up €3,724 (+28.1%), from €13,270 to €16,995
of which Trade receivables: +€2,432
- Other debts -€26,350
down €26,350 (-34.7%), from €75,949 to €49,599
- Trade debts +€4,477
up €4,477 (+188.7%), from €2,373 to €6,849
- Tax, wage and social debts -€3,207
down €3,207 (-32.7%), from €9,806 to €6,599
- Gross operating margin -€43,914
down €43,914 (-57.2%), from €76,807 to €32,893
- Taxes -€11,292
down €11,292 (-57.9%), from €19,495 to €8,203
- Depreciation +€1,021
up €1,021 (+24.7%), from €4,139 to €5,160
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 | €108,588 | €83,507 | -€25,081 | -23.1% |
| Fixed assets | 21/28 | €12,780 | €9,019 | -€3,761 | -29.4% |
| Tangible fixed assets | 22/27 | €12,155 | €8,394 | -€3,761 | -30.9% |
| Plant, machinery and equipment | 23 | €2,525 | €2,115 | -€410 | -16.2% |
| Furniture and vehicles | 24 | €9,630 | €6,279 | -€3,351 | -34.8% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €95,808 | €74,488 | -€21,320 | -22.3% |
| Amounts receivable within one year | 40/41 | €13,270 | €16,995 | +€3,724 | +28.1% |
| Trade receivables | 40 | €12,766 | €15,198 | +€2,432 | +19.1% |
| Other amounts receivable | 41 | €505 | €1,797 | +€1,292 | +255.9% |
| Cash at bank and in hand | 54/58 | €81,421 | €46,514 | -€34,907 | -42.9% |
| Deferred charges and accrued income | 490/1 | €1,117 | €10,980 | +€9,862 | +882.9% |
| Total equity and liabilities | 10/49 | €108,588 | €83,507 | -€25,081 | -23.1% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €88,128 | €63,047 | -€25,081 | -28.5% |
| Amounts payable within one year | 42/48 | €88,128 | €63,047 | -€25,081 | -28.5% |
| Trade debts | 44 | €2,373 | €6,849 | +€4,477 | +188.7% |
| Suppliers | 440/4 | €2,373 | €6,849 | +€4,477 | +188.7% |
| Taxes, remuneration and social security | 45 | €9,806 | €6,599 | -€3,207 | -32.7% |
| Taxes | 450/3 | €9,806 | €6,599 | -€3,207 | -32.7% |
| Other amounts payable | 47/48 | €75,949 | €49,599 | -€26,350 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,139 | €5,160 | +€1,021 | +24.7% |
| Other operating charges | 640/8 | €177 | €183 | +€6 | +3.4% |
| Gross operating margin | 9900 | €76,807 | €32,893 | -€43,914 | -57.2% |
| Operating profit (loss) | 9901 | €72,491 | €27,550 | -€44,941 | -62.0% |
| Financial income | 75/76B | €9 | €15 | +€6 | +66.8% |
| Recurring financial income | 75 | €9 | €15 | +€6 | +66.8% |
| Non-recurring financial income | 76B | €9 | €15 | +€6 | +66.8% |
| Financial charges | 65/66B | €187 | €147 | -€39 | -21.0% |
| Recurring financial charges | 65 | €117 | €117 | = | 0.0% |
| Non-recurring financial charges | 66B | €70 | €31 | -€39 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €72,313 | €27,417 | -€44,896 | -62.1% |
| Income taxes | 67/77 | €19,495 | €8,203 | -€11,292 | -57.9% |
| Profit (loss) for the period | 9904 | €52,818 | €19,214 | -€33,604 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,818 | €19,214 | -€33,604 | -63.6% |
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 8 October 2026 via checked.be.