SINEL & CO: 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.
SINEL & CO
Largest movements
- Receivables within one year -€208,335
down €208,335 (-60.1%), from €346,518 to €138,183
of which Trade receivables: -€136,014
- Cash +€142,989
up €142,989 (+20.1%), from €712,922 to €855,911
mainly Net result for the year (+€360,224) and Receivables within one year (+€208,335)
- Stocks and contracts +€123,409
up €123,409 (+806%), from €15,317 to €138,726
of which Contracts in progress: +€120,942
- Reserves +€312,952
up €312,952 (+38.4%), from €815,415 to €1.1m
of which Distributable reserves: +€314,812
- Accrued charges and deferred income -€147,700
down €147,700 (-100%), from €147,700 to €0
- Trade debts -€74,199
down €74,199 (-39.6%), from €187,508 to €113,308
- Debts after one year -€15,543
down €15,543 (-9.3%), from €167,595 to €152,052
- Other operating charges +€250,660
up €250,660 (+4,195%), from €5,976 to €256,636
- Write-downs -€147,087
down €147,087, from €31,118 to -€115,969
- Gross operating margin +€142,589
up €142,589 (+23.1%), from €616,483 to €759,071
- Staff costs +€25,053
up €25,053 (+84.9%), from €29,521 to €54,574
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 | €1,405,921 | €1,473,458 | +€67,537 | +4.8% |
| Fixed assets | 21/28 | €327,892 | €336,603 | +€8,711 | +2.7% |
| Tangible fixed assets | 22/27 | €327,892 | €336,603 | +€8,711 | +2.7% |
| Land and buildings | 22 | €248,011 | €234,452 | -€13,559 | -5.5% |
| Plant, machinery and equipment | 23 | €17,183 | €12,383 | -€4,800 | -27.9% |
| Furniture and vehicles | 24 | €62,698 | €89,768 | +€27,070 | +43.2% |
| Current assets | 29/58 | €1,078,029 | €1,136,855 | +€58,826 | +5.5% |
| Stocks and contracts in progress | 3 | €15,317 | €138,726 | +€123,409 | +806% |
| Stocks | 30/36 | €15,317 | €17,784 | +€2,467 | +16.1% |
| Contracts in progress | 37 | - | €120,942 | +€120,942 | |
| Amounts receivable within one year | 40/41 | €346,518 | €138,183 | -€208,335 | -60.1% |
| Trade receivables | 40 | €256,540 | €120,526 | -€136,014 | -53.0% |
| Other amounts receivable | 41 | €89,978 | €17,657 | -€72,321 | -80.4% |
| Cash at bank and in hand | 54/58 | €712,922 | €855,911 | +€142,989 | +20.1% |
| Deferred charges and accrued income | 490/1 | €3,271 | €4,035 | +€764 | +23.3% |
| Total equity and liabilities | 10/49 | €1,405,921 | €1,473,458 | +€67,537 | +4.8% |
| Equity | 10/15 | €834,015 | €1,146,967 | +€312,952 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €815,415 | €1,128,367 | +€312,952 | +38.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €23,457 | €23,457 | = | 0.0% |
| Distributable reserves | 133 | €790,098 | €1,104,910 | +€314,812 | +39.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €571,906 | €326,491 | -€245,414 | -42.9% |
| Amounts payable after more than one year | 17 | €167,595 | €152,052 | -€15,543 | -9.3% |
| Financial debts | 170/4 | €167,595 | €152,052 | -€15,543 | -9.3% |
| Amounts payable within one year | 42/48 | €256,611 | €174,440 | -€82,172 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €20,572 | €15,543 | -€5,029 | -24.4% |
| Trade debts | 44 | €187,508 | €113,308 | -€74,199 | -39.6% |
| Suppliers | 440/4 | €187,508 | €113,308 | -€74,199 | -39.6% |
| Taxes, remuneration and social security | 45 | €41,330 | €39,339 | -€1,990 | -4.8% |
| Taxes | 450/3 | €34,260 | €32,976 | -€1,283 | -3.7% |
| Remuneration and social security | 454/9 | €7,070 | €6,363 | -€707 | -10.0% |
| Other amounts payable | 47/48 | €7,202 | €6,249 | -€952 | -13.2% |
| Accrued charges and deferred income | 492/3 | €147,700 | €0 | -€147,700 | -100% |
| Remuneration, social security and pensions | 62 | €29,521 | €54,574 | +€25,053 | +84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,000 | €47,125 | -€1,875 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,118 | -€115,969 | -€147,087 | |
| Other operating charges | 640/8 | €5,976 | €256,636 | +€250,660 | +4,195% |
| Gross operating margin | 9900 | €616,483 | €759,071 | +€142,589 | +23.1% |
| Operating profit (loss) | 9901 | €500,868 | €516,705 | +€15,838 | +3.2% |
| Financial income | 75/76B | €1,901 | €7,822 | +€5,921 | +312% |
| Recurring financial income | 75 | €1,901 | €7,822 | +€5,921 | +312% |
| Financial charges | 65/66B | €5,695 | €3,858 | -€1,837 | -32.3% |
| Recurring financial charges | 65 | €5,695 | €3,858 | -€1,837 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €497,073 | €520,669 | +€23,596 | +4.7% |
| Income taxes | 67/77 | €154,476 | €160,445 | +€5,969 | +3.9% |
| Profit (loss) for the period | 9904 | €342,597 | €360,224 | +€17,627 | +5.1% |
| Transfer from tax-exempt reserves | 789 | €13,724 | €0 | -€13,724 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €356,321 | €360,224 | +€3,903 | +1.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.