SIKALO: 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.
SIKALO
Largest movements
- Stocks and contracts -€80,695
down €80,695 (-48.4%), from €166,563 to €85,868
- Cash -€13,219
down €13,219 (-85.9%), from €15,393 to €2,174
mainly Net result for the year (-€41,825) and Trade debts (-€40,882)
- Tangible fixed assets -€10,633
down €10,633 (-4.0%), from €264,704 to €254,071
of which Land and buildings: -€8,844
- Receivables within one year -€7,358
down €7,358 (-7.3%), from €100,647 to €93,289
of which Trade receivables: -€10,013
- Profit (loss) carried forward -€41,825
down €41,825 (-6.7%), from -€626,717 to -€668,542
- Trade debts -€40,882
down €40,882 (-5.1%), from €794,479 to €753,597
- Debts after one year -€17,050
down €17,050 (-56.8%), from €30,000 to €12,950
- Short-term financial debts -€11,879
down €11,879 (-5.4%), from €218,000 to €206,121
- Gross operating margin -€64,069
down €64,069, from €37,765 to -€26,304
- Financial charges -€19,591
down €19,591 (-95.6%), from €20,498 to €907
- Other operating charges -€934
down €934 (-19.0%), from €4,916 to €3,982
- Depreciation -€732
down €732 (-6.4%), from €11,365 to €10,633
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 | €550,068 | €435,464 | -€114,605 | -20.8% |
| Fixed assets | 21/28 | €264,766 | €254,133 | -€10,633 | -4.0% |
| Tangible fixed assets | 22/27 | €264,704 | €254,071 | -€10,633 | -4.0% |
| Land and buildings | 22 | €259,710 | €250,867 | -€8,844 | -3.4% |
| Plant, machinery and equipment | 23 | €535 | €0 | -€535 | -100% |
| Furniture and vehicles | 24 | €4,458 | €3,204 | -€1,254 | -28.1% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €285,302 | €181,331 | -€103,971 | -36.4% |
| Stocks and contracts in progress | 3 | €166,563 | €85,868 | -€80,695 | -48.4% |
| Stocks | 30/36 | €166,563 | €85,868 | -€80,695 | -48.4% |
| Amounts receivable within one year | 40/41 | €100,647 | €93,289 | -€7,358 | -7.3% |
| Trade receivables | 40 | €100,535 | €90,522 | -€10,013 | -10.0% |
| Other amounts receivable | 41 | €112 | €2,767 | +€2,656 | +2,378% |
| Cash at bank and in hand | 54/58 | €15,393 | €2,174 | -€13,219 | -85.9% |
| Deferred charges and accrued income | 490/1 | €2,699 | €0 | -€2,699 | -100% |
| Total equity and liabilities | 10/49 | €550,068 | €435,464 | -€114,605 | -20.8% |
| Equity | 10/15 | -€499,730 | -€541,555 | -€41,825 | -8.4% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Revaluation surpluses | 12 | €96,000 | €96,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€626,717 | -€668,542 | -€41,825 | -6.7% |
| Amounts payable | 17/49 | €1,049,798 | €977,019 | -€72,779 | -6.9% |
| Amounts payable after more than one year | 17 | €30,000 | €12,950 | -€17,050 | -56.8% |
| Financial debts | 170/4 | €30,000 | €12,950 | -€17,050 | -56.8% |
| Amounts payable within one year | 42/48 | €1,019,798 | €964,069 | -€55,729 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €0 | -€5,000 | -100% |
| Financial debts | 43 | €218,000 | €206,121 | -€11,879 | -5.4% |
| Credit institutions | 430/8 | €218,000 | €206,121 | -€11,879 | -5.4% |
| Trade debts | 44 | €794,479 | €753,597 | -€40,882 | -5.1% |
| Suppliers | 440/4 | €794,479 | €753,597 | -€40,882 | -5.1% |
| Taxes, remuneration and social security | 45 | €0 | €3,777 | +€3,777 | |
| Taxes | 450/3 | €0 | €3,777 | +€3,777 | |
| Other amounts payable | 47/48 | €2,319 | €574 | -€1,745 | -75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,365 | €10,633 | -€732 | -6.4% |
| Other operating charges | 640/8 | €4,916 | €3,982 | -€934 | -19.0% |
| Gross operating margin | 9900 | €37,765 | -€26,304 | -€64,069 | |
| Operating profit (loss) | 9901 | €21,484 | -€40,919 | -€62,402 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €20,498 | €907 | -€19,591 | -95.6% |
| Recurring financial charges | 65 | €20,498 | €907 | -€19,591 | -95.6% |
| Profit (loss) for the period before taxes | 9903 | €986 | -€41,825 | -€42,811 | |
| Profit (loss) for the period | 9904 | €986 | -€41,825 | -€42,811 | |
| Profit (loss) for the period to be appropriated | 9905 | €986 | -€41,825 | -€42,811 |
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 13 October 2026 via checked.be.