SINCO CAPITAL: 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 CAPITAL
Largest movements
- Financial fixed assets +€94.5m
up €94.5m (+455.0%), from €20.8m to €115.2m
- Receivables within one year +€1.2m
up €1.2m (+287.2%), from €416,570 to €1.6m
- Other debts +€89.2m
up €89.2m (+154.3%), from €57.9m to €147.1m
- Profit (loss) carried forward +€4.5m
up €4.5m (+7.7%), from -€58.7m to -€54.1m
- Financial income +€8.2m
up €8.2m (+2873.6%), from €285,660 to €8.5m
of which Non-recurring financial income: +€6.2m
- Financial charges +€9,928
up €9,928 (+151.2%), from €6,568 to €16,496
- Gross operating margin +€2,575
up €2,575 (+6.0%), from -€42,866 to -€40,291
- Other operating charges -€1,360
down €1,360 (-4.6%), from €29,528 to €28,168
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 | €22,505,563 | €117,271,684 | +€94.8m | +421.1% |
| Fixed assets | 21/28 | €20,764,812 | €115,238,642 | +€94.5m | +455.0% |
| Financial fixed assets | 28 | €20,764,812 | €115,238,642 | +€94.5m | +455.0% |
| Current assets | 29/58 | €1,740,751 | €2,033,042 | +€292,290 | +16.8% |
| Amounts receivable within one year | 40/41 | €416,570 | €1,612,862 | +€1.2m | +287.2% |
| Other amounts receivable | 41 | €416,570 | €1,612,862 | +€1.2m | +287.2% |
| Cash at bank and in hand | 54/58 | €1,324,181 | €420,180 | -€904,002 | -68.3% |
| Total equity and liabilities | 10/49 | €22,505,563 | €117,271,684 | +€94.8m | +421.1% |
| Equity | 10/15 | -€55,351,916 | -€50,837,773 | +€4.5m | +8.2% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Capital | 10 | €3,000,000 | €3,000,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €300,000 | €300,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300,000 | €300,000 | = | 0.0% |
| Legal reserve | 130 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,651,916 | -€54,137,773 | +€4.5m | +7.7% |
| Amounts payable | 17/49 | €77,857,479 | €168,109,457 | +€90.3m | +115.9% |
| Amounts payable after more than one year | 17 | €20,000,000 | €20,000,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000,000 | €20,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,857,479 | €148,103,694 | +€90.2m | +156.0% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Other amounts payable | 47/48 | €57,857,479 | €147,103,694 | +€89.2m | +154.3% |
| Accrued charges and deferred income | 492/3 | - | €5,763 | +€5,763 | |
| Other operating charges | 640/8 | €29,528 | €28,168 | -€1,360 | -4.6% |
| Non-recurring operating charges | 66A | €66,072,667 | €3,895,195 | -€62.2m | -94.1% |
| Gross operating margin | 9900 | -€42,866 | -€40,291 | +€2,575 | +6.0% |
| Operating profit (loss) | 9901 | -€66,145,062 | -€3,963,655 | +€62.2m | +94.0% |
| Financial income | 75/76B | €285,660 | €8,494,295 | +€8.2m | +2873.6% |
| Recurring financial income | 75 | €285,660 | €2,341,590 | +€2.1m | +719.7% |
| Non-recurring financial income | 76B | - | €6,152,705 | +€6.2m | |
| Financial charges | 65/66B | €6,568 | €16,496 | +€9,928 | +151.2% |
| Recurring financial charges | 65 | €6,568 | €16,496 | +€9,928 | +151.2% |
| Profit (loss) for the period before taxes | 9903 | -€65,865,971 | €4,514,143 | +€70.4m | |
| Income taxes | 67/77 | €0 | -€0 | -€0 | |
| Profit (loss) for the period | 9904 | -€65,865,971 | €4,514,144 | +€70.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,865,971 | €4,514,144 | +€70.4m |
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 6 October 2026 via checked.be.