SINCO: what changed
Two fiscal 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.
SINCO
Largest movements
- Financial fixed assets -€271,500
down €271,500 (-63.1%), from €430,093 to €158,593
- Tangible fixed assets +€148,501
up €148,501 (+49.5%), from €299,900 to €448,401
- Intangible fixed assets +€94,067
new in 2025: €94,067
- Receivables within one year +€13,712
up €13,712 (+58.0%), from €23,642 to €37,354
of which Trade receivables: +€8,019
- Other debts -€109,777
down €109,777 (-36.8%), from €298,436 to €188,659
- Reserves +€59,976
up €59,976 (+116.8%), from €51,338 to €111,314
of which Tax-exempt reserves: +€50,535
- Tax, wage and social debts +€23,906
up €23,906 (+401.4%), from €5,955 to €29,861
of which Remuneration and social security: +€15,445
- Provisions +€16,845
new in 2025: €16,845
- Debts after one year -€15,047
down €15,047 (-9.5%), from €158,244 to €143,197
- Gross operating margin +€59,351
up €59,351, from -€34,908 to €24,442
- Financial charges +€7,089
up €7,089 (+324.3%), from €2,186 to €9,274
- Depreciation +€2,650
new in 2025: €2,650
- Other operating charges +€691
up €691 (+29.0%), from €2,386 to €3,077
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 | €907,537 | €891,847 | -€15,690 | -1.7% |
| Fixed assets | 21/28 | €729,993 | €701,061 | -€28,932 | -4.0% |
| Intangible fixed assets | 21 | - | €94,067 | +€94,067 | |
| Tangible fixed assets | 22/27 | €299,900 | €448,401 | +€148,501 | +49.5% |
| Land and buildings | 22 | €299,900 | €448,401 | +€148,501 | +49.5% |
| Financial fixed assets | 28 | €430,093 | €158,593 | -€271,500 | -63.1% |
| Current assets | 29/58 | €177,544 | €190,786 | +€13,243 | +7.5% |
| Amounts receivable within one year | 40/41 | €23,642 | €37,354 | +€13,712 | +58.0% |
| Trade receivables | 40 | €23,316 | €31,335 | +€8,019 | +34.4% |
| Other amounts receivable | 41 | €327 | €6,019 | +€5,693 | +1743.0% |
| Cash at bank and in hand | 54/58 | €1,902 | €1,432 | -€469 | -24.7% |
| Deferred charges and accrued income | 490/1 | €152,000 | €152,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €907,537 | €891,847 | -€15,690 | -1.7% |
| Equity | 10/15 | €418,631 | €478,607 | +€59,976 | +14.3% |
| Contributions | 10/11 | €303,000 | €303,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Revaluation surpluses | 12 | €64,293 | €64,293 | = | 0.0% |
| Reserves | 13 | €51,338 | €111,314 | +€59,976 | +116.8% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €50,535 | +€50,535 | |
| Distributable reserves | 133 | €21,338 | €30,779 | +€9,441 | +44.2% |
| Provisions and deferred taxes | 16 | - | €16,845 | +€16,845 | |
| Deferred taxes | 168 | - | €16,845 | +€16,845 | |
| Amounts payable | 17/49 | €488,906 | €396,395 | -€92,511 | -18.9% |
| Amounts payable after more than one year | 17 | €158,244 | €143,197 | -€15,047 | -9.5% |
| Financial debts | 170/4 | €158,244 | €143,197 | -€15,047 | -9.5% |
| Amounts payable within one year | 42/48 | €330,661 | €253,198 | -€77,464 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €15,587 | €15,047 | -€540 | -3.5% |
| Trade debts | 44 | €10,683 | €19,630 | +€8,947 | +83.8% |
| Suppliers | 440/4 | €10,683 | €19,630 | +€8,947 | +83.8% |
| Taxes, remuneration and social security | 45 | €5,955 | €29,861 | +€23,906 | +401.4% |
| Taxes | 450/3 | €807 | €9,269 | +€8,461 | +1048.3% |
| Remuneration and social security | 454/9 | €5,148 | €20,593 | +€15,445 | +300.0% |
| Other amounts payable | 47/48 | €298,436 | €188,659 | -€109,777 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,650 | +€2,650 | |
| Other operating charges | 640/8 | €2,386 | €3,077 | +€691 | +29.0% |
| Gross operating margin | 9900 | -€34,908 | €24,442 | +€59,351 | |
| Operating profit (loss) | 9901 | -€37,294 | €18,716 | +€56,010 | |
| Financial charges | 65/66B | €2,186 | €9,274 | +€7,089 | +324.3% |
| Recurring financial charges | 65 | €2,186 | €9,274 | +€7,089 | +324.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,480 | €9,441 | +€48,921 | |
| Profit (loss) for the period | 9904 | -€39,480 | €9,441 | +€48,921 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,480 | €9,441 | +€48,921 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.