SINDBAD MANAGEMENT: 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.
SINDBAD MANAGEMENT
Largest movements
- Financial fixed assets +€6.9m
up €6.9m (+17,281%), from €40,000 to €7.0m
- Tangible fixed assets -€772,418
down €772,418 (-22.7%), from €3.4m to €2.6m
- Receivables after one year -€628,050
down €628,050 (-27.8%), from €2.3m to €1.6m
- Cash +€427,426
up €427,426 (+2,805%), from €15,236 to €442,661
mainly Debts after one year (+€6.2m) and Receivables after one year (+€628,050)
- Debts after one year +€6.2m
up €6.2m (+365%), from €1.7m to €7.9m
of which Other amounts payable: +€6.4m
- Trade debts -€160,337
down €160,337 (-49.5%), from €323,865 to €163,528
- Financial charges +€130,325
up €130,325 (+223%), from €58,406 to €188,731
of which Financial charges: +€87,915
- Gross operating margin +€89,182
up €89,182 (+79.1%), from €112,691 to €201,873
- Financial income +€50,141
up €50,141 (+236%), from €21,244 to €71,385
- Other operating charges +€4,494
up €4,494 (+38.5%), from €11,674 to €16,169
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,788,207 | €11,808,854 | +€6.0m | +104% |
| Fixed assets | 21/28 | €3,447,470 | €9,587,503 | +€6.1m | +178% |
| Tangible fixed assets | 22/27 | €3,407,470 | €2,635,053 | -€772,418 | -22.7% |
| Land and buildings | 22 | €3,407,470 | €2,635,053 | -€772,418 | -22.7% |
| Financial fixed assets | 28 | €40,000 | €6,952,450 | +€6.9m | +17,281% |
| Current assets | 29/58 | €2,340,736 | €2,221,351 | -€119,386 | -5.1% |
| Amounts receivable after more than one year | 29 | €2,258,050 | €1,630,000 | -€628,050 | -27.8% |
| Other amounts receivable | 291 | €2,258,050 | €1,630,000 | -€628,050 | -27.8% |
| Amounts receivable within one year | 40/41 | €67,451 | €148,689 | +€81,239 | +120% |
| Trade receivables | 40 | €6,098 | €15,952 | +€9,854 | +162% |
| Other amounts receivable | 41 | €61,352 | €132,737 | +€71,385 | +116% |
| Cash at bank and in hand | 54/58 | €15,236 | €442,661 | +€427,426 | +2,805% |
| Total equity and liabilities | 10/49 | €5,788,207 | €11,808,854 | +€6.0m | +104% |
| Equity | 10/15 | €3,558,560 | €3,553,778 | -€4,782 | -0.1% |
| Contributions | 10/11 | €3,237,000 | €3,237,000 | = | 0.0% |
| Reserves | 13 | €201,142 | €194,952 | -€6,191 | -3.1% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €199,042 | €192,852 | -€6,191 | -3.1% |
| Profit (loss) carried forward | 14 | €120,418 | €121,827 | +€1,409 | +1.2% |
| Provisions and deferred taxes | 16 | €66,347 | €64,284 | -€2,064 | -3.1% |
| Deferred taxes | 168 | €66,347 | €64,284 | -€2,064 | -3.1% |
| Amounts payable | 17/49 | €2,163,299 | €8,190,792 | +€6.0m | +279% |
| Amounts payable after more than one year | 17 | €1,687,923 | €7,854,275 | +€6.2m | +365% |
| Financial debts | 170/4 | €1,149,989 | €872,237 | -€277,753 | -24.2% |
| Other amounts payable | 178/9 | €537,933 | €6,982,038 | +€6.4m | +1,198% |
| Amounts payable within one year | 42/48 | €456,727 | €289,674 | -€167,052 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €110,533 | €112,887 | +€2,354 | +2.1% |
| Financial debts | 43 | €9,393 | - | -€9,393 | |
| Credit institutions | 430/8 | €9,393 | - | -€9,393 | |
| Trade debts | 44 | €323,865 | €163,528 | -€160,337 | -49.5% |
| Suppliers | 440/4 | €323,865 | €163,528 | -€160,337 | -49.5% |
| Taxes, remuneration and social security | 45 | €12,935 | €11,908 | -€1,027 | -7.9% |
| Taxes | 450/3 | €12,935 | €11,908 | -€1,027 | -7.9% |
| Other amounts payable | 47/48 | - | €1,350 | +€1,350 | |
| Accrued charges and deferred income | 492/3 | €18,650 | €46,843 | +€28,193 | +151% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,904 | €75,204 | -€700 | -0.9% |
| Other operating charges | 640/8 | €11,674 | €16,169 | +€4,494 | +38.5% |
| Gross operating margin | 9900 | €112,691 | €201,873 | +€89,182 | +79.1% |
| Operating profit (loss) | 9901 | €25,113 | €110,500 | +€85,388 | +340% |
| Financial income | 75/76B | €21,244 | €71,385 | +€50,141 | +236% |
| Recurring financial income | 75 | €21,244 | €71,385 | +€50,141 | +236% |
| Financial charges | 65/66B | €58,406 | €188,731 | +€130,325 | +223% |
| Recurring financial charges | 65 | €58,406 | €146,322 | +€87,915 | +151% |
| Non-recurring financial charges | 66B | - | €42,409 | +€42,409 | |
| Profit (loss) for the period before taxes | 9903 | -€12,050 | -€6,846 | +€5,204 | +43.2% |
| Transfer from deferred taxes | 780 | €2,064 | €2,064 | = | 0.0% |
| Income taxes | 67/77 | -€1,068 | - | +€1,068 | |
| Profit (loss) for the period | 9904 | -€8,918 | -€4,782 | +€4,136 | +46.4% |
| Transfer from tax-exempt reserves | 789 | €6,191 | €6,191 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,727 | €1,409 | +€4,136 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.