SINDRE SYSTEMS: 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.
SINDRE SYSTEMS
Largest movements
- Tangible fixed assets -€18,570
down €18,570 (-2.9%), from €632,320 to €613,750
of which Land and buildings: -€19,213
- Cash +€10,807
up €10,807 (+73.7%), from €14,666 to €25,473
mainly Net result for the year (+€45,046) and Depreciation (+€19,360)
- Profit (loss) carried forward +€45,046
up €45,046 (+39.0%), from €115,413 to €160,459
- Debts after one year -€29,371
down €29,371 (-25.2%), from €116,347 to €86,976
- Trade debts -€26,801
down €26,801 (-89.4%), from €29,977 to €3,176
- Short-term financial debts +€8,019
new in 2025: €8,019
- Gross operating margin +€39,665
up €39,665 (+87.7%), from €45,226 to €84,892
- Taxes +€7,904
up €7,904 (+223%), from €3,551 to €11,455
- Financial charges -€3,121
down €3,121 (-34.4%), from €9,085 to €5,964
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 | €680,514 | €674,998 | -€5,516 | -0.8% |
| Fixed assets | 21/28 | €632,320 | €613,750 | -€18,570 | -2.9% |
| Tangible fixed assets | 22/27 | €632,320 | €613,750 | -€18,570 | -2.9% |
| Land and buildings | 22 | €632,320 | €613,107 | -€19,213 | -3.0% |
| Furniture and vehicles | 24 | - | €643 | +€643 | |
| Current assets | 29/58 | €48,194 | €61,248 | +€13,054 | +27.1% |
| Amounts receivable within one year | 40/41 | €31,525 | €33,702 | +€2,177 | +6.9% |
| Trade receivables | 40 | €28,072 | €31,144 | +€3,072 | +10.9% |
| Other amounts receivable | 41 | €3,453 | €2,558 | -€895 | -25.9% |
| Cash at bank and in hand | 54/58 | €14,666 | €25,473 | +€10,807 | +73.7% |
| Deferred charges and accrued income | 490/1 | €2,003 | €2,072 | +€70 | +3.5% |
| Total equity and liabilities | 10/49 | €680,514 | €674,998 | -€5,516 | -0.8% |
| Equity | 10/15 | €495,880 | €540,927 | +€45,046 | +9.1% |
| Contributions | 10/11 | €361,718 | €361,718 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,413 | €160,459 | +€45,046 | +39.0% |
| Amounts payable | 17/49 | €184,633 | €134,071 | -€50,562 | -27.4% |
| Amounts payable after more than one year | 17 | €116,347 | €86,976 | -€29,371 | -25.2% |
| Financial debts | 170/4 | €116,347 | €86,976 | -€29,371 | -25.2% |
| Amounts payable within one year | 42/48 | €68,286 | €45,471 | -€22,815 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €34,135 | €28,949 | -€5,186 | -15.2% |
| Financial debts | 43 | - | €8,019 | +€8,019 | |
| Credit institutions | 430/8 | - | €8,019 | +€8,019 | |
| Trade debts | 44 | €29,977 | €3,176 | -€26,801 | -89.4% |
| Suppliers | 440/4 | €29,977 | €3,176 | -€26,801 | -89.4% |
| Taxes, remuneration and social security | 45 | €1,315 | €3,742 | +€2,427 | +185% |
| Taxes | 450/3 | €1,315 | €3,742 | +€2,427 | +185% |
| Other amounts payable | 47/48 | €2,860 | €1,585 | -€1,274 | -44.6% |
| Accrued charges and deferred income | 492/3 | - | €1,623 | +€1,623 | |
| Non-recurring operating income | 76A | €36 | - | -€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,569 | €19,360 | -€209 | -1.1% |
| Other operating charges | 640/8 | €2,746 | €3,066 | +€320 | +11.7% |
| Non-recurring operating charges | 66A | €429 | - | -€429 | |
| Gross operating margin | 9900 | €45,226 | €84,892 | +€39,665 | +87.7% |
| Operating profit (loss) | 9901 | €22,483 | €62,466 | +€39,983 | +178% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,085 | €5,964 | -€3,121 | -34.4% |
| Recurring financial charges | 65 | €9,085 | €5,964 | -€3,121 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €13,398 | €56,501 | +€43,103 | +322% |
| Income taxes | 67/77 | €3,551 | €11,455 | +€7,904 | +223% |
| Profit (loss) for the period | 9904 | €9,847 | €45,046 | +€35,200 | +357% |
| Profit (loss) for the period to be appropriated | 9905 | €9,847 | €45,046 | +€35,200 | +357% |
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 26 October 2026 via checked.be.