SINECA: 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.
SINECA
Largest movements
- Cash -€110,210
down €110,210 (-98.8%), from €111,551 to €1,341
mainly Investment in fixed assets (net) (-€154,388) and Receivables within one year (-€33,324)
- Tangible fixed assets +€101,258
up €101,258 (+91.6%), from €110,602 to €211,860
of which Other tangible fixed assets: +€138,078
- Receivables within one year +€33,324
up €33,324 (+23.6%), from €141,447 to €174,772
of which Trade receivables: +€29,311
- Deferred charges and accrued income +€13,796
up €13,796 (+257%), from €5,361 to €19,156
- Profit (loss) carried forward +€43,440
up €43,440 (+58.1%), from €74,791 to €118,232
- Debts after one year -€14,873
down €14,873 (-92.1%), from €16,147 to €1,273
- Other debts +€10,000
up €10,000, from €0 to €10,000
- Tax, wage and social debts -€7,574
down €7,574 (-6.6%), from €114,225 to €106,651
of which Taxes: -€18,551
- Trade debts +€5,551
up €5,551 (+4.1%), from €135,685 to €141,236
- Gross operating margin +€94,164
up €94,164 (+18.6%), from €506,149 to €600,313
- Staff costs +€48,827
up €48,827 (+11.5%), from €426,042 to €474,869
- Taxes +€8,782
up €8,782 (+62.4%), from €14,084 to €22,866
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 | €372,998 | €410,529 | +€37,532 | +10.1% |
| Fixed assets | 21/28 | €111,239 | €211,860 | +€100,622 | +90.5% |
| Intangible fixed assets | 21 | €636 | €0 | -€636 | -100% |
| Tangible fixed assets | 22/27 | €110,602 | €211,860 | +€101,258 | +91.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €88,384 | €51,564 | -€36,820 | -41.7% |
| Other tangible fixed assets | 26 | €22,218 | €160,296 | +€138,078 | +621% |
| Current assets | 29/58 | €261,759 | €198,669 | -€63,090 | -24.1% |
| Amounts receivable within one year | 40/41 | €141,447 | €174,772 | +€33,324 | +23.6% |
| Trade receivables | 40 | €141,447 | €170,758 | +€29,311 | +20.7% |
| Other amounts receivable | 41 | €0 | €4,013 | +€4,013 | |
| Current investments | 50/53 | €3,400 | €3,400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €111,551 | €1,341 | -€110,210 | -98.8% |
| Deferred charges and accrued income | 490/1 | €5,361 | €19,156 | +€13,796 | +257% |
| Total equity and liabilities | 10/49 | €372,998 | €410,529 | +€37,532 | +10.1% |
| Equity | 10/15 | €92,791 | €136,232 | +€43,440 | +46.8% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,791 | €118,232 | +€43,440 | +58.1% |
| Amounts payable | 17/49 | €280,206 | €274,298 | -€5,909 | -2.1% |
| Amounts payable after more than one year | 17 | €16,147 | €1,273 | -€14,873 | -92.1% |
| Financial debts | 170/4 | €16,147 | €1,273 | -€14,873 | -92.1% |
| Amounts payable within one year | 42/48 | €264,060 | €272,760 | +€8,701 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €14,150 | €14,873 | +€724 | +5.1% |
| Trade debts | 44 | €135,685 | €141,236 | +€5,551 | +4.1% |
| Suppliers | 440/4 | €135,685 | €141,236 | +€5,551 | +4.1% |
| Taxes, remuneration and social security | 45 | €114,225 | €106,651 | -€7,574 | -6.6% |
| Taxes | 450/3 | €39,244 | €20,693 | -€18,551 | -47.3% |
| Remuneration and social security | 454/9 | €74,981 | €85,958 | +€10,977 | +14.6% |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €264 | +€264 | |
| Remuneration, social security and pensions | 62 | €426,042 | €474,869 | +€48,827 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,931 | €53,767 | +€4,836 | +9.9% |
| Other operating charges | 640/8 | €6,125 | €4,216 | -€1,909 | -31.2% |
| Gross operating margin | 9900 | €506,149 | €600,313 | +€94,164 | +18.6% |
| Operating profit (loss) | 9901 | €25,051 | €67,461 | +€42,410 | +169% |
| Financial income | 75/76B | €573 | €240 | -€333 | -58.2% |
| Recurring financial income | 75 | €573 | €240 | -€333 | -58.2% |
| Financial charges | 65/66B | €2,301 | €1,395 | -€907 | -39.4% |
| Recurring financial charges | 65 | €2,301 | €1,395 | -€907 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €23,322 | €66,306 | +€42,984 | +184% |
| Income taxes | 67/77 | €14,084 | €22,866 | +€8,782 | +62.4% |
| Profit (loss) for the period | 9904 | €9,238 | €43,440 | +€34,202 | +370% |
| Profit (loss) for the period to be appropriated | 9905 | €9,238 | €43,440 | +€34,202 | +370% |
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 15 October 2026 via checked.be.