SINCFAL: 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.
SINCFAL
Largest movements
- Financial fixed assets +€245,775
up €245,775 (+9.6%), from €2.6m to €2.8m
- Receivables within one year +€69,730
up €69,730 (+53.8%), from €129,720 to €199,450
of which Trade receivables: +€75,319
- Cash -€57,709
down €57,709 (-84.6%), from €68,175 to €10,466
mainly Investment in fixed assets (net) (-€247,163) and Accrued charges and deferred income (-€88,157)
- Debts after one year +€334,979
up €334,979 (+13.7%), from €2.5m to €2.8m
of which Other amounts payable: +€343,276
- Accrued charges and deferred income -€88,157
down €88,157 (-98.9%), from €89,125 to €968
- Financial charges +€6,107
up €6,107 (+25.1%), from €24,376 to €30,482
- Gross operating margin -€3,330
down €3,330 (-4.6%), from €72,696 to €69,365
- Taxes -€2,299
down €2,299 (-24.4%), from €9,411 to €7,111
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 | €2,776,770 | €3,024,638 | +€247,868 | +8.9% |
| Fixed assets | 21/28 | €2,577,434 | €2,813,196 | +€235,763 | +9.1% |
| Tangible fixed assets | 22/27 | €24,709 | €14,696 | -€10,012 | -40.5% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,604 | €2,251 | +€647 | +40.3% |
| Leasing and similar rights | 25 | €18,070 | €8,240 | -€9,829 | -54.4% |
| Other tangible fixed assets | 26 | €5,035 | €4,205 | -€830 | -16.5% |
| Financial fixed assets | 28 | €2,552,725 | €2,798,500 | +€245,775 | +9.6% |
| Current assets | 29/58 | €199,337 | €211,442 | +€12,105 | +6.1% |
| Amounts receivable within one year | 40/41 | €129,720 | €199,450 | +€69,730 | +53.8% |
| Trade receivables | 40 | €117,231 | €192,550 | +€75,319 | +64.2% |
| Other amounts receivable | 41 | €12,489 | €6,900 | -€5,589 | -44.8% |
| Cash at bank and in hand | 54/58 | €68,175 | €10,466 | -€57,709 | -84.6% |
| Deferred charges and accrued income | 490/1 | €1,441 | €1,526 | +€85 | +5.9% |
| Total equity and liabilities | 10/49 | €2,776,770 | €3,024,638 | +€247,868 | +8.9% |
| Equity | 10/15 | €195,909 | €213,002 | +€17,093 | +8.7% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €150,909 | €168,002 | +€17,093 | +11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €150,909 | €168,002 | +€17,093 | +11.3% |
| Amounts payable | 17/49 | €2,580,862 | €2,811,637 | +€230,775 | +8.9% |
| Amounts payable after more than one year | 17 | €2,452,484 | €2,787,462 | +€334,979 | +13.7% |
| Financial debts | 170/4 | €8,297 | €0 | -€8,297 | -100.0% |
| Other amounts payable | 178/9 | €2,444,186 | €2,787,462 | +€343,276 | +14.0% |
| Amounts payable within one year | 42/48 | €39,253 | €23,207 | -€16,046 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €9,900 | €8,297 | -€1,603 | -16.2% |
| Trade debts | 44 | €575 | €876 | +€300 | +52.2% |
| Suppliers | 440/4 | €575 | €876 | +€300 | +52.2% |
| Taxes, remuneration and social security | 45 | €25,576 | €10,805 | -€14,771 | -57.8% |
| Taxes | 450/3 | €25,576 | €10,805 | -€14,771 | -57.8% |
| Other amounts payable | 47/48 | €3,202 | €3,229 | +€28 | +0.9% |
| Accrued charges and deferred income | 492/3 | €89,125 | €968 | -€88,157 | -98.9% |
| Non-recurring operating income | 76A | €2,164 | - | -€2,164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,933 | €11,401 | +€467 | +4.3% |
| Other operating charges | 640/8 | €3,112 | €3,279 | +€167 | +5.4% |
| Non-recurring operating charges | 66A | €878 | - | -€878 | |
| Gross operating margin | 9900 | €72,696 | €69,365 | -€3,330 | -4.6% |
| Operating profit (loss) | 9901 | €57,773 | €54,686 | -€3,087 | -5.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €24,376 | €30,482 | +€6,107 | +25.1% |
| Recurring financial charges | 65 | €24,376 | €30,482 | +€6,107 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €33,397 | €24,204 | -€9,193 | -27.5% |
| Income taxes | 67/77 | €9,411 | €7,111 | -€2,299 | -24.4% |
| Profit (loss) for the period | 9904 | €23,987 | €17,093 | -€6,894 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,987 | €17,093 | -€6,894 | -28.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.