SINAPI: 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.
SINAPI
Largest movements
- Receivables within one year -€19,191
down €19,191 (-83.4%), from €23,000 to €3,809
of which Trade receivables: -€23,000
- Tangible fixed assets -€17,623
down €17,623 (-8.3%), from €211,490 to €193,867
of which Land and buildings: -€16,980
- Cash +€5,920
up €5,920 (+44.7%), from €13,253 to €19,173
mainly Receivables within one year (+€19,191) and Depreciation (+€17,623)
- Other debts -€23,721
down €23,721 (-5.8%), from €410,434 to €386,713
- Tax, wage and social debts -€4,015
down €4,015 (-71.9%), from €5,587 to €1,572
- Profit (loss) carried forward -€3,669
down €3,669 (-1.9%), from -€188,729 to -€192,398
- Gross operating margin +€2,602
up €2,602 (+18.6%), from €13,997 to €16,599
- Depreciation +€672
up €672 (+4.0%), from €16,951 to €17,623
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 | €247,744 | €216,849 | -€30,895 | -12.5% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €211,490 | €193,867 | -€17,623 | -8.3% |
| Tangible fixed assets | 22/27 | €211,490 | €193,867 | -€17,623 | -8.3% |
| Land and buildings | 22 | €209,363 | €192,383 | -€16,980 | -8.1% |
| Furniture and vehicles | 24 | €2,127 | €1,484 | -€643 | -30.2% |
| Current assets | 29/58 | €36,253 | €22,981 | -€13,272 | -36.6% |
| Amounts receivable within one year | 40/41 | €23,000 | €3,809 | -€19,191 | -83.4% |
| Trade receivables | 40 | €23,000 | €0 | -€23,000 | -100% |
| Other amounts receivable | 41 | - | €3,809 | +€3,809 | |
| Cash at bank and in hand | 54/58 | €13,253 | €19,173 | +€5,920 | +44.7% |
| Total equity and liabilities | 10/49 | €247,744 | €216,849 | -€30,895 | -12.5% |
| Equity | 10/15 | -€168,278 | -€171,947 | -€3,669 | -2.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,729 | -€192,398 | -€3,669 | -1.9% |
| Amounts payable | 17/49 | €416,022 | €388,795 | -€27,226 | -6.5% |
| Amounts payable within one year | 42/48 | €416,022 | €388,795 | -€27,226 | -6.5% |
| Trade debts | 44 | - | €510 | +€510 | |
| Suppliers | 440/4 | - | €510 | +€510 | |
| Taxes, remuneration and social security | 45 | €5,587 | €1,572 | -€4,015 | -71.9% |
| Taxes | 450/3 | €5,587 | €1,572 | -€4,015 | -71.9% |
| Other amounts payable | 47/48 | €410,434 | €386,713 | -€23,721 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,951 | €17,623 | +€672 | +4.0% |
| Other operating charges | 640/8 | €2,716 | €2,594 | -€122 | -4.5% |
| Gross operating margin | 9900 | €13,997 | €16,599 | +€2,602 | +18.6% |
| Operating profit (loss) | 9901 | -€5,670 | -€3,617 | +€2,053 | +36.2% |
| Financial charges | 65/66B | €39 | €51 | +€12 | +30.9% |
| Recurring financial charges | 65 | €39 | €51 | +€12 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,709 | -€3,669 | +€2,041 | +35.7% |
| Profit (loss) for the period | 9904 | -€5,709 | -€3,669 | +€2,041 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,709 | -€3,669 | +€2,041 | +35.7% |
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 21 October 2026 via checked.be.