SIGUESOL: 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
SIGUESOL
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,707
2024 · €151,117-€146,410
Equity
€3.1m
2024 · €3.1m+€4,707
Cash
€1.3m
2024 · €929,704+€387,690
Balance sheet total
€7.0m
2024 · €14.1m-€7.1m
Largest movements
Assets
- Receivables within one year -€7.4m
down €7.4m (-79.1%), from €9.4m to €2.0m
of which Trade receivables: -€7.9m
- Stocks and contracts -€589,192
down €589,192 (-21.0%), from €2.8m to €2.2m
of which Contracts in progress: -€719,436
- Cash +€387,690
up €387,690 (+41.7%), from €929,704 to €1.3m
mainly Receivables within one year (+€7.4m) and Stocks and contracts (+€589,192)
- Tangible fixed assets +€252,922
up €252,922 (+53.4%), from €473,571 to €726,493
of which Leasing and similar rights: +€232,939
- Intangible fixed assets +€195,997
up €195,997 (+76.9%), from €254,964 to €450,961
Equity and liabilities
- Trade debts -€5.9m
down €5.9m (-86.8%), from €6.8m to €888,109
- Advances received -€1.3m
down €1.3m (-92.4%), from €1.4m to €109,348
- Short-term financial debts -€677,000
down €677,000 (-90.3%), from €750,000 to €73,000
- Provisions +€545,068
up €545,068 (+33.1%), from €1.6m to €2.2m
of which Provisions for liabilities and charges: +€554,836
- Debts after one year +€192,463
up €192,463 (+133%), from €144,881 to €337,343
Income statement
- Goods and materials -€7.3m
down €7.3m (-35.9%), from €20.2m to €13.0m
of which Purchases: -€8.0m
- Turnover -€6.4m
down €6.4m (-27.0%), from €23.7m to €17.3m
- Services and other goods -€473,801
down €473,801 (-20.7%), from €2.3m to €1.8m
- Provisions -€306,807
down €306,807 (-35.6%), from €861,643 to €554,836
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
€151,117
Turnover
-€6.4m
Other operating income
-€6,411
Goods and materials
+€7.3m
Services and other goods
+€473,801
Staff costs
-€82,011
Depreciation
-€33,969
Write-downs
+€104,015
Provisions
+€306,807
Other operating charges
-€54,201
Other operating items
-€1.9m
Financial income
-€57,407
Financial charges
+€146,700
Taxes
-€12,510
Deferred taxes and other
+€105,867
Result 2025
€4,707
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.7m
Investment
-€835,247
Financing
-€441,089
Cash 2024
€929,704
From operations (derived)
+€1.7m
Net result for the year
+€4,707
Depreciation
+€296,656
Stocks and contracts
+€589,192
Receivables within one year
+€7.4m
Smaller working-capital items
-€24,814
Provisions
+€545,068
Trade debts
-€5.9m
Tax, wage and social debts
+€18,752
Advances received
-€1.3m
Investment (derived)
-€835,247
Investment in fixed assets (net)
-€835,247
Financing
-€441,089
Debts after one year
+€192,463
Current portion of long-term debt
+€43,448
Short-term financial debts
-€677,000
Cash 2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,127,476 | €7,036,048 | -€7.1m | -50.2% |
| Formation expenses | 20 | - | €72,572 | +€72,572 | |
| Fixed assets | 21/28 | €846,959 | €1,312,979 | +€466,019 | +55.0% |
| Intangible fixed assets | 21 | €254,964 | €450,961 | +€195,997 | +76.9% |
| Tangible fixed assets | 22/27 | €473,571 | €726,493 | +€252,922 | +53.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €161,669 | €98,198 | -€63,471 | -39.3% |
| Furniture and vehicles | 24 | €73,405 | €88,909 | +€15,505 | +21.1% |
| Leasing and similar rights | 25 | €238,497 | €471,436 | +€232,939 | +97.7% |
| Other tangible fixed assets | 26 | - | €67,950 | +€67,950 | |
| Financial fixed assets | 28 | €118,425 | €135,525 | +€17,100 | +14.4% |
| Affiliated companies | 280/1 | €100,000 | €100,000 | = | 0.0% |
| Participating interests | 280 | €100,000 | €100,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €18,425 | €35,525 | +€17,100 | +92.8% |
| Shares | 284 | €124 | €124 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €18,301 | €35,401 | +€17,100 | +93.4% |
| Current assets | 29/58 | €13,280,517 | €5,650,497 | -€7.6m | -57.5% |
| Stocks and contracts in progress | 3 | €2,802,671 | €2,213,479 | -€589,192 | -21.0% |
| Stocks | 30/36 | €1,582,236 | €1,712,480 | +€130,244 | +8.2% |
| Goods purchased for resale | 34 | €1,505,363 | €1,535,649 | +€30,286 | +2.0% |
| Advance payments | 36 | €76,873 | €176,832 | +€99,958 | +130% |
| Contracts in progress | 37 | €1,220,435 | €500,998 | -€719,436 | -58.9% |
| Amounts receivable within one year | 40/41 | €9,395,238 | €1,962,471 | -€7.4m | -79.1% |
| Trade receivables | 40 | €8,998,039 | €1,092,718 | -€7.9m | -87.9% |
| Other amounts receivable | 41 | €397,199 | €869,753 | +€472,554 | +119% |
| Cash at bank and in hand | 54/58 | €929,704 | €1,317,394 | +€387,690 | +41.7% |
| Deferred charges and accrued income | 490/1 | €152,903 | €157,154 | +€4,251 | +2.8% |
| Total equity and liabilities | 10/49 | €14,127,476 | €7,036,048 | -€7.1m | -50.2% |
| Equity | 10/15 | €3,075,548 | €3,080,255 | +€4,707 | +0.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €3,055,088 | €3,059,795 | +€4,707 | +0.2% |
| Tax-exempt reserves | 132 | €288,298 | €258,993 | -€29,305 | -10.2% |
| Distributable reserves | 133 | €2,766,791 | €2,800,802 | +€34,011 | +1.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,647,899 | €2,192,967 | +€545,068 | +33.1% |
| Provisions for liabilities and charges | 160/5 | €1,551,800 | €2,106,636 | +€554,836 | +35.8% |
| Other liabilities and charges | 164/5 | €1,551,800 | €2,106,636 | +€554,836 | +35.8% |
| Deferred taxes | 168 | €96,099 | €86,331 | -€9,768 | -10.2% |
| Amounts payable | 17/49 | €9,404,028 | €1,762,825 | -€7.6m | -81.3% |
| Amounts payable after more than one year | 17 | €144,881 | €337,343 | +€192,463 | +133% |
| Financial debts | 170/4 | €144,881 | €337,343 | +€192,463 | +133% |
| Leasing and similar obligations | 172 | €144,881 | €337,343 | +€192,463 | +133% |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,253,709 | €1,424,204 | -€7.8m | -84.6% |
| Current portion of amounts payable after more than one year | 42 | €80,933 | €124,381 | +€43,448 | +53.7% |
| Financial debts | 43 | €750,000 | €73,000 | -€677,000 | -90.3% |
| Credit institutions | 430/8 | €750,000 | €73,000 | -€677,000 | -90.3% |
| Trade debts | 44 | €6,752,961 | €888,109 | -€5.9m | -86.8% |
| Suppliers | 440/4 | €6,752,961 | €888,109 | -€5.9m | -86.8% |
| Advances received on contracts in progress | 46 | €1,442,798 | €109,348 | -€1.3m | -92.4% |
| Taxes, remuneration and social security | 45 | €209,980 | €228,732 | +€18,752 | +8.9% |
| Taxes | 450/3 | €34,310 | €69,126 | +€34,816 | +101% |
| Remuneration and social security | 454/9 | €175,670 | €159,607 | -€16,064 | -9.1% |
| Other amounts payable | 47/48 | €17,037 | €634 | -€16,403 | -96.3% |
| Accrued charges and deferred income | 492/3 | €5,439 | €1,278 | -€4,161 | -76.5% |
| Operating income | 70/76A | €25,343,636 | €17,035,800 | -€8.3m | -32.8% |
| Turnover | 70 | €23,718,581 | €17,305,038 | -€6.4m | -27.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €211,664 | -€719,436 | -€931,101 | |
| Own construction capitalised | 72 | €183,173 | €148,449 | -€34,724 | -19.0% |
| Other operating income | 74 | €308,160 | €301,750 | -€6,411 | -2.1% |
| Non-recurring operating income | 76A | €922,057 | €0 | -€922,057 | -100% |
| Operating charges | 60/66A | €24,992,683 | €17,013,909 | -€8.0m | -31.9% |
| Goods for resale, raw materials and consumables | 60 | €20,217,002 | €12,952,669 | -€7.3m | -35.9% |
| Purchases | 600/8 | €20,985,527 | €12,982,955 | -€8.0m | -38.1% |
| Change in stocks: decrease (increase) | 609 | -€768,525 | -€30,286 | +€738,240 | +96.1% |
| Services and other goods | 61 | €2,290,691 | €1,816,890 | -€473,801 | -20.7% |
| Remuneration, social security and pensions | 62 | €1,283,147 | €1,365,158 | +€82,011 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262,687 | €296,656 | +€33,969 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,007 | -€52,007 | -€104,015 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €861,643 | €554,836 | -€306,807 | -35.6% |
| Other operating charges | 640/8 | €25,507 | €79,707 | +€54,201 | +212% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €350,952 | €21,891 | -€329,061 | -93.8% |
| Financial income | 75/76B | €116,866 | €59,460 | -€57,407 | -49.1% |
| Recurring financial income | 75 | €116,866 | €59,460 | -€57,407 | -49.1% |
| Income from current assets | 751 | €31,115 | €40,125 | +€9,010 | +29.0% |
| Other financial income | 752/9 | €85,751 | €19,334 | -€66,417 | -77.5% |
| Financial charges | 65/66B | €218,421 | €71,721 | -€146,700 | -67.2% |
| Recurring financial charges | 65 | €218,421 | €71,721 | -€146,700 | -67.2% |
| Debt charges | 650 | €154,827 | €47,833 | -€106,993 | -69.1% |
| Other financial charges | 652/9 | €63,595 | €23,888 | -€39,707 | -62.4% |
| Profit (loss) for the period before taxes | 9903 | €249,397 | €9,630 | -€239,768 | -96.1% |
| Transfer from deferred taxes | 780 | €1,999 | €9,768 | +€7,769 | +389% |
| Transfer to deferred taxes | 680 | €98,098 | €0 | -€98,098 | -100% |
| Income taxes | 67/77 | €2,182 | €14,691 | +€12,510 | +573% |
| Taxes | 670/3 | €2,472 | €14,734 | +€12,263 | +496% |
| Tax adjustments and reversals of tax provisions | 77 | €290 | €43 | -€247 | -85.2% |
| Profit (loss) for the period | 9904 | €151,117 | €4,707 | -€146,410 | -96.9% |
| Transfer from tax-exempt reserves | 789 | €5,997 | €29,305 | +€23,307 | +389% |
| Transfer to tax-exempt reserves | 689 | €294,295 | €0 | -€294,295 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€137,181 | €34,011 | +€171,192 |
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 24 October 2026 via checked.be.