SINAB: 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.
SINAB
Largest movements
- Cash -€81,171
down €81,171 (-78.2%), from €103,830 to €22,659
mainly Other debts (-€106,860) and Receivables after one year (-€70,555)
- Receivables after one year +€70,555
up €70,555 (+8.8%), from €798,128 to €868,682
- Tangible fixed assets -€66,510
down €66,510 (-5.2%), from €1.3m to €1.2m
of which Land and buildings: -€65,451
- Other debts -€106,860
down €106,860 (-18.6%), from €575,516 to €468,656
- Profit (loss) carried forward +€81,823
up €81,823 (+25.0%), from -€327,498 to -€245,675
- Debts after one year -€51,299
down €51,299 (-6.2%), from €832,339 to €781,041
- Financial income -€188,670
down €188,670 (-72.8%), from €259,225 to €70,555
- Financial charges -€33,372
down €33,372 (-69.7%), from €47,878 to €14,506
- Depreciation -€27,390
down €27,390 (-29.2%), from €93,900 to €66,510
- Gross operating margin +€16,720
up €16,720 (+19.7%), from €84,740 to €101,460
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 | €2,185,377 | €2,108,250 | -€77,127 | -3.5% |
| Fixed assets | 21/28 | €1,283,419 | €1,216,909 | -€66,510 | -5.2% |
| Tangible fixed assets | 22/27 | €1,283,419 | €1,216,909 | -€66,510 | -5.2% |
| Land and buildings | 22 | €1,278,518 | €1,213,066 | -€65,451 | -5.1% |
| Other tangible fixed assets | 26 | €4,902 | €3,843 | -€1,059 | -21.6% |
| Current assets | 29/58 | €901,958 | €891,341 | -€10,617 | -1.2% |
| Amounts receivable after more than one year | 29 | €798,128 | €868,682 | +€70,555 | +8.8% |
| Other amounts receivable | 291 | €798,128 | €868,682 | +€70,555 | +8.8% |
| Cash at bank and in hand | 54/58 | €103,830 | €22,659 | -€81,171 | -78.2% |
| Total equity and liabilities | 10/49 | €2,185,377 | €2,108,250 | -€77,127 | -3.5% |
| Equity | 10/15 | €722,502 | €804,325 | +€81,823 | +11.3% |
| Contributions | 10/11 | €1,050,000 | €1,050,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€327,498 | -€245,675 | +€81,823 | +25.0% |
| Amounts payable | 17/49 | €1,462,876 | €1,303,926 | -€158,950 | -10.9% |
| Amounts payable after more than one year | 17 | €832,339 | €781,041 | -€51,299 | -6.2% |
| Financial debts | 170/4 | €832,339 | €781,041 | -€51,299 | -6.2% |
| Amounts payable within one year | 42/48 | €630,537 | €522,885 | -€107,652 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €50,469 | €51,299 | +€830 | +1.6% |
| Trade debts | 44 | €2,113 | €565 | -€1,547 | -73.2% |
| Suppliers | 440/4 | €2,113 | €565 | -€1,547 | -73.2% |
| Taxes, remuneration and social security | 45 | €2,439 | €2,365 | -€75 | -3.1% |
| Taxes | 450/3 | €2,439 | €2,365 | -€75 | -3.1% |
| Other amounts payable | 47/48 | €575,516 | €468,656 | -€106,860 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,900 | €66,510 | -€27,390 | -29.2% |
| Other operating charges | 640/8 | €9,856 | €9,175 | -€681 | -6.9% |
| Gross operating margin | 9900 | €84,740 | €101,460 | +€16,720 | +19.7% |
| Operating profit (loss) | 9901 | -€19,017 | €25,775 | +€44,791 | |
| Financial income | 75/76B | €259,225 | €70,555 | -€188,670 | -72.8% |
| Recurring financial income | 75 | €259,225 | €70,555 | -€188,670 | -72.8% |
| Financial charges | 65/66B | €47,878 | €14,506 | -€33,372 | -69.7% |
| Recurring financial charges | 65 | €47,878 | €14,506 | -€33,372 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €192,330 | €81,823 | -€110,506 | -57.5% |
| Profit (loss) for the period | 9904 | €192,330 | €81,823 | -€110,506 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €192,330 | €81,823 | -€110,506 | -57.5% |
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 11 October 2026 via checked.be.