SIGNALI: what changed
Two financial 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.
SIGNALI
Largest movements
- Receivables within one year -€165,038
down €165,038 (-34.9%), from €472,278 to €307,240
of which Trade receivables: -€181,380
- Cash +€33,339
up €33,339 (+13.9%), from €239,609 to €272,948
mainly Receivables within one year (+€165,038) and Contributions, distributions and other (+€41,455)
- Trade debts -€89,525
down €89,525 (-33.9%), from €263,977 to €174,452
- Debts after one year -€71,641
down €71,641 (-15.7%), from €456,706 to €385,065
- Investment grants +€41,455
new in 2025: €41,455
- Tax, wage and social debts -€38,170
down €38,170 (-36.9%), from €103,375 to €65,205
of which Taxes: -€45,573
- Profit (loss) carried forward +€35,798
up €35,798 (+6.8%), from €525,720 to €561,518
- Gross operating margin -€154,678
down €154,678 (-30.0%), from €516,390 to €361,711
- Taxes -€29,149
down €29,149 (-56.3%), from €51,785 to €22,636
- Staff costs -€15,461
down €15,461 (-5.1%), from €301,536 to €286,075
- Financial income +€10,556
up €10,556 (+338%), from €3,119 to €13,675
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.
Derived cash bridge
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 | €1,908,275 | €1,773,723 | -€134,552 | -7.1% |
| Fixed assets | 21/28 | €650,701 | €656,224 | +€5,523 | +0.8% |
| Intangible fixed assets | 21 | €849 | €252 | -€597 | -70.3% |
| Tangible fixed assets | 22/27 | €649,204 | €655,335 | +€6,131 | +0.9% |
| Land and buildings | 22 | €624,522 | €637,170 | +€12,648 | +2.0% |
| Plant, machinery and equipment | 23 | €22,790 | €16,992 | -€5,799 | -25.4% |
| Furniture and vehicles | 24 | €1,891 | €1,173 | -€718 | -38.0% |
| Financial fixed assets | 28 | €649 | €637 | -€12 | -1.9% |
| Current assets | 29/58 | €1,257,574 | €1,117,499 | -€140,074 | -11.1% |
| Stocks and contracts in progress | 3 | €540,943 | €525,163 | -€15,779 | -2.9% |
| Stocks | 30/36 | €540,943 | €525,163 | -€15,779 | -2.9% |
| Amounts receivable within one year | 40/41 | €472,278 | €307,240 | -€165,038 | -34.9% |
| Trade receivables | 40 | €467,729 | €286,348 | -€181,380 | -38.8% |
| Other amounts receivable | 41 | €4,549 | €20,892 | +€16,343 | +359% |
| Cash at bank and in hand | 54/58 | €239,609 | €272,948 | +€33,339 | +13.9% |
| Deferred charges and accrued income | 490/1 | €4,744 | €12,148 | +€7,403 | +156% |
| Total equity and liabilities | 10/49 | €1,908,275 | €1,773,723 | -€134,552 | -7.1% |
| Equity | 10/15 | €938,944 | €1,006,188 | +€67,244 | +7.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €338,224 | €328,215 | -€10,009 | -3.0% |
| Non-distributable reserves | 130/1 | €14,700 | €14,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,700 | €14,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €223,524 | €213,515 | -€10,009 | -4.5% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €525,720 | €561,518 | +€35,798 | +6.8% |
| Investment grants | 15 | - | €41,455 | +€41,455 | |
| Provisions and deferred taxes | 16 | €74,508 | €71,172 | -€3,336 | -4.5% |
| Deferred taxes | 168 | €74,508 | €71,172 | -€3,336 | -4.5% |
| Amounts payable | 17/49 | €894,823 | €696,364 | -€198,459 | -22.2% |
| Amounts payable after more than one year | 17 | €456,706 | €385,065 | -€71,641 | -15.7% |
| Financial debts | 170/4 | €456,706 | €385,065 | -€71,641 | -15.7% |
| Amounts payable within one year | 42/48 | €438,117 | €311,299 | -€126,818 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €70,764 | €71,641 | +€877 | +1.2% |
| Trade debts | 44 | €263,977 | €174,452 | -€89,525 | -33.9% |
| Suppliers | 440/4 | €263,977 | €174,452 | -€89,525 | -33.9% |
| Taxes, remuneration and social security | 45 | €103,375 | €65,205 | -€38,170 | -36.9% |
| Taxes | 450/3 | €52,875 | €7,302 | -€45,573 | -86.2% |
| Remuneration and social security | 454/9 | €50,500 | €57,903 | +€7,403 | +14.7% |
| Remuneration, social security and pensions | 62 | €301,536 | €286,075 | -€15,461 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,859 | €28,595 | +€2,736 | +10.6% |
| Other operating charges | 640/8 | €5,200 | €8,506 | +€3,306 | +63.6% |
| Gross operating margin | 9900 | €516,390 | €361,711 | -€154,678 | -30.0% |
| Operating profit (loss) | 9901 | €183,795 | €38,536 | -€145,259 | -79.0% |
| Financial income | 75/76B | €3,119 | €13,675 | +€10,556 | +338% |
| Recurring financial income | 75 | €3,119 | €13,675 | +€10,556 | +338% |
| Financial charges | 65/66B | €8,928 | €7,122 | -€1,806 | -20.2% |
| Recurring financial charges | 65 | €8,928 | €7,122 | -€1,806 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €177,986 | €45,089 | -€132,897 | -74.7% |
| Transfer from deferred taxes | 780 | €3,336 | €3,336 | = | 0.0% |
| Income taxes | 67/77 | €51,785 | €22,636 | -€29,149 | -56.3% |
| Profit (loss) for the period | 9904 | €129,538 | €25,789 | -€103,749 | -80.1% |
| Transfer from tax-exempt reserves | 789 | €10,009 | €10,009 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €139,547 | €35,798 | -€103,749 | -74.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.