Signaroute: 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.
What changed
Signaroute
NACE 43.212, Electrical installation work in industrial facilities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€728,994
2024 · -€745,187+€1.5m
Equity
€353,684
2024 · -€375,309+€728,994
Cash
€298,842
2024 · €1.2m-€896,985
Balance sheet total
€3.0m
2024 · €3.9m-€848,390
Largest movements
Assets
- Cash -€896,985
down €896,985 (-75.0%), from €1.2m to €298,842
mainly Trade debts (-€1.7m) and Receivables within one year (-€36,272)
Equity and liabilities
- Trade debts -€1.7m
down €1.7m (-69.8%), from €2.5m to €752,467
- Profit (loss) carried forward +€728,994
up €728,994 (+56.2%), from -€1.3m to -€568,676
- Debts after one year +€94,248
up €94,248 (+6.4%), from €1.5m to €1.6m
- Tax, wage and social debts +€39,495
up €39,495 (+15.1%), from €261,930 to €301,425
of which Remuneration and social security: +€27,995
Income statement
- Gross operating margin +€1.7m
up €1.7m (+87.2%), from €2.0m to €3.7m
- Staff costs +€216,602
up €216,602 (+8.7%), from €2.5m to €2.7m
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.
Result 2024
-€745,187
Gross operating margin
+€1.7m
Staff costs
-€216,602
Depreciation
-€1,106
Write-downs
+€7,455
Other operating charges
-€20,573
Other operating items
-€7,430
Financial income
+€3
Financial charges
+€6,403
Taxes
+€1,340
Result 2025
€728,994
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.
From operations
-€982,429
Investment
-€33,892
Financing
+€119,335
Cash 2024
€1.2m
From operations (derived)
-€982,429
Net result for the year
+€728,994
Depreciation
+€40,855
Receivables within one year
-€36,272
Deferred charges and accrued income
-€19,287
Trade debts
-€1.7m
Tax, wage and social debts
+€39,495
Investment (derived)
-€33,892
Investment in fixed assets (net)
-€33,892
Financing
+€119,335
Debts after one year
+€94,248
Short-term financial debts
+€25,087
Cash 2025
€298,842
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,876,214 | €3,027,825 | -€848,390 | -21.9% |
| Fixed assets | 21/28 | €81,930 | €74,967 | -€6,963 | -8.5% |
| Tangible fixed assets | 22/27 | €81,930 | €74,967 | -€6,963 | -8.5% |
| Plant, machinery and equipment | 23 | €34,780 | €18,558 | -€16,223 | -46.6% |
| Furniture and vehicles | 24 | €4,338 | €25,374 | +€21,036 | +484.9% |
| Other tangible fixed assets | 26 | €42,811 | €31,034 | -€11,777 | -27.5% |
| Current assets | 29/58 | €3,794,285 | €2,952,858 | -€841,427 | -22.2% |
| Amounts receivable within one year | 40/41 | €2,555,716 | €2,591,988 | +€36,272 | +1.4% |
| Trade receivables | 40 | €2,547,523 | €2,587,700 | +€40,177 | +1.6% |
| Other amounts receivable | 41 | €8,192 | €4,287 | -€3,905 | -47.7% |
| Cash at bank and in hand | 54/58 | €1,195,828 | €298,842 | -€896,985 | -75.0% |
| Deferred charges and accrued income | 490/1 | €42,741 | €62,028 | +€19,287 | +45.1% |
| Total equity and liabilities | 10/49 | €3,876,214 | €3,027,825 | -€848,390 | -21.9% |
| Equity | 10/15 | -€375,309 | €353,684 | +€728,994 | |
| Contributions | 10/11 | €768,600 | €768,600 | = | 0.0% |
| Reserves | 13 | €153,760 | €153,760 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €151,900 | €9,500 | -€142,400 | -93.7% |
| Distributable reserves | 133 | - | €142,400 | +€142,400 | |
| Profit (loss) carried forward | 14 | -€1,297,669 | -€568,676 | +€728,994 | +56.2% |
| Amounts payable | 17/49 | €4,251,524 | €2,674,141 | -€1.6m | -37.1% |
| Amounts payable after more than one year | 17 | €1,483,372 | €1,577,620 | +€94,248 | +6.4% |
| Financial debts | 170/4 | €1,483,372 | €1,577,620 | +€94,248 | +6.4% |
| Amounts payable within one year | 42/48 | €2,768,152 | €1,096,520 | -€1.7m | -60.4% |
| Financial debts | 43 | €17,542 | €42,629 | +€25,087 | +143.0% |
| Credit institutions | 430/8 | €17,542 | €42,629 | +€25,087 | +143.0% |
| Trade debts | 44 | €2,488,680 | €752,467 | -€1.7m | -69.8% |
| Suppliers | 440/4 | €2,488,680 | €752,467 | -€1.7m | -69.8% |
| Taxes, remuneration and social security | 45 | €261,930 | €301,425 | +€39,495 | +15.1% |
| Taxes | 450/3 | €85,056 | €96,556 | +€11,500 | +13.5% |
| Remuneration and social security | 454/9 | €176,874 | €204,869 | +€27,995 | +15.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €6,127 | +€6,127 | |
| Remuneration, social security and pensions | 62 | €2,499,828 | €2,716,431 | +€216,602 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,749 | €40,855 | +€1,106 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,455 | €0 | -€7,455 | -100.0% |
| Other operating charges | 640/8 | €35,229 | €55,802 | +€20,573 | +58.4% |
| Non-recurring operating charges | 66A | - | €7,430 | +€7,430 | |
| Gross operating margin | 9900 | €1,955,389 | €3,660,079 | +€1.7m | +87.2% |
| Operating profit (loss) | 9901 | -€626,872 | €839,562 | +€1.5m | |
| Financial income | 75/76B | €0 | €3 | +€3 | +6080.0% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +6080.0% |
| Financial charges | 65/66B | €115,186 | €108,783 | -€6,403 | -5.6% |
| Recurring financial charges | 65 | €115,186 | €108,783 | -€6,403 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€742,058 | €730,782 | +€1.5m | |
| Income taxes | 67/77 | €3,129 | €1,789 | -€1,340 | -42.8% |
| Profit (loss) for the period | 9904 | -€745,187 | €728,994 | +€1.5m | |
| Transfer from tax-exempt reserves | 789 | - | €142,400 | +€142,400 | |
| Profit (loss) for the period to be appropriated | 9905 | -€745,187 | €871,394 | +€1.6m |
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 10 October 2026 via checked.be.