SINECURA: 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.
SINECURA
Largest movements
- Cash +€558,033
up €558,033 (+32.1%), from €1.7m to €2.3m
mainly Trade debts (+€1.1m) and Accrued charges and deferred income (+€145,301)
- Stocks and contracts +€460,866
up €460,866 (+191%), from €241,204 to €702,069
- Receivables within one year +€109,376
up €109,376 (+44.1%), from €248,239 to €357,615
of which Trade receivables: +€119,110
- Tangible fixed assets -€84,039
down €84,039 (-9.4%), from €889,528 to €805,488
of which Land and buildings: -€85,578
- Trade debts +€1.1m
up €1.1m (+318%), from €340,783 to €1.4m
- Accrued charges and deferred income +€145,301
new in 2025: €145,301
- Profit (loss) carried forward -€87,250
down €87,250 (-3.8%), from €2.3m to €2.2m
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin -€275,017
down €275,017 (-47.1%), from €583,337 to €308,320
- Taxes -€80,958
down €80,958, from €59,819 to -€21,139
- Staff costs -€38,855
down €38,855 (-11.9%), from €327,633 to €288,778
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 | €3,149,573 | €4,198,684 | +€1.0m | +33.3% |
| Fixed assets | 21/28 | €909,535 | €825,495 | -€84,039 | -9.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €889,528 | €805,488 | -€84,039 | -9.4% |
| Land and buildings | 22 | €845,377 | €759,798 | -€85,578 | -10.1% |
| Plant, machinery and equipment | 23 | €39,511 | €34,574 | -€4,937 | -12.5% |
| Furniture and vehicles | 24 | €4,640 | €11,116 | +€6,476 | +140% |
| Financial fixed assets | 28 | €20,007 | €20,007 | = | 0.0% |
| Current assets | 29/58 | €2,240,038 | €3,373,188 | +€1.1m | +50.6% |
| Stocks and contracts in progress | 3 | €241,204 | €702,069 | +€460,866 | +191% |
| Stocks | 30/36 | €241,204 | €702,069 | +€460,866 | +191% |
| Amounts receivable within one year | 40/41 | €248,239 | €357,615 | +€109,376 | +44.1% |
| Trade receivables | 40 | €231,787 | €350,897 | +€119,110 | +51.4% |
| Other amounts receivable | 41 | €16,452 | €6,718 | -€9,734 | -59.2% |
| Cash at bank and in hand | 54/58 | €1,740,046 | €2,298,079 | +€558,033 | +32.1% |
| Deferred charges and accrued income | 490/1 | €10,549 | €15,425 | +€4,875 | +46.2% |
| Total equity and liabilities | 10/49 | €3,149,573 | €4,198,684 | +€1.0m | +33.3% |
| Equity | 10/15 | €2,557,476 | €2,470,226 | -€87,250 | -3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €246,218 | €246,218 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | - | -€7,500 | |
| Reserves not available under the articles | 1311 | - | €7,500 | +€7,500 | |
| Tax-exempt reserves | 132 | €41,716 | €41,716 | = | 0.0% |
| Distributable reserves | 133 | €197,001 | €197,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,292,658 | €2,205,408 | -€87,250 | -3.8% |
| Amounts payable | 17/49 | €592,097 | €1,728,458 | +€1.1m | +192% |
| Amounts payable within one year | 42/48 | €592,097 | €1,583,157 | +€991,060 | +167% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | - | -€30,000 | |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €340,783 | €1,424,805 | +€1.1m | +318% |
| Suppliers | 440/4 | €340,783 | €1,424,805 | +€1.1m | +318% |
| Taxes, remuneration and social security | 45 | €67,572 | €54,610 | -€12,962 | -19.2% |
| Taxes | 450/3 | €20,273 | €9,703 | -€10,569 | -52.1% |
| Remuneration and social security | 454/9 | €47,300 | €44,907 | -€2,393 | -5.1% |
| Other amounts payable | 47/48 | €103,742 | €103,742 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €145,301 | +€145,301 | |
| Remuneration, social security and pensions | 62 | €327,633 | €288,778 | -€38,855 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,376 | €103,947 | -€429 | -0.4% |
| Other operating charges | 640/8 | €11,059 | €13,537 | +€2,478 | +22.4% |
| Gross operating margin | 9900 | €583,337 | €308,320 | -€275,017 | -47.1% |
| Operating profit (loss) | 9901 | €140,270 | -€97,940 | -€238,211 | |
| Financial income | 75/76B | €476 | €348 | -€128 | -26.9% |
| Recurring financial income | 75 | €476 | €348 | -€128 | -26.9% |
| Financial charges | 65/66B | €16,092 | €10,796 | -€5,296 | -32.9% |
| Recurring financial charges | 65 | €16,092 | €10,796 | -€5,296 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €124,654 | -€108,389 | -€233,043 | |
| Income taxes | 67/77 | €59,819 | -€21,139 | -€80,958 | |
| Profit (loss) for the period | 9904 | €64,834 | -€87,250 | -€152,084 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,834 | -€87,250 | -€152,084 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.