SINEM: what changed
Two fiscal 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.
SINEM
Largest movements
- Cash -€29,063
down €29,063 (-41.1%), from €70,777 to €41,714
mainly Other debts (-€44,984) and Receivables within one year (-€16,039)
- Receivables within one year +€16,039
up €16,039 (+757.6%), from €2,117 to €18,156
of which Other amounts receivable: +€16,306
- Tangible fixed assets -€9,072
down €9,072 (-2.1%), from €430,735 to €421,663
of which Land and buildings: -€8,788
- Other debts -€44,984
down €44,984 (-97.3%), from €46,217 to €1,232
- Reserves +€22,938
up €22,938 (+6.3%), from €361,814 to €384,752
of which Distributable reserves: +€22,938
- Taxes +€1,879
up €1,879 (+19.1%), from €9,861 to €11,740
- Gross operating margin +€565
up €565 (+1.2%), from €49,078 to €49,643
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.
Cash bridge derived
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 | €506,448 | €483,862 | -€22,586 | -4.5% |
| Fixed assets | 21/28 | €430,735 | €421,663 | -€9,072 | -2.1% |
| Tangible fixed assets | 22/27 | €430,735 | €421,663 | -€9,072 | -2.1% |
| Land and buildings | 22 | €430,220 | €421,432 | -€8,788 | -2.0% |
| Furniture and vehicles | 24 | €514 | €231 | -€283 | -55.1% |
| Current assets | 29/58 | €75,713 | €62,199 | -€13,514 | -17.8% |
| Amounts receivable within one year | 40/41 | €2,117 | €18,156 | +€16,039 | +757.6% |
| Trade receivables | 40 | €2,117 | €1,850 | -€267 | -12.6% |
| Other amounts receivable | 41 | - | €16,306 | +€16,306 | |
| Cash at bank and in hand | 54/58 | €70,777 | €41,714 | -€29,063 | -41.1% |
| Deferred charges and accrued income | 490/1 | €2,819 | €2,329 | -€490 | -17.4% |
| Total equity and liabilities | 10/49 | €506,448 | €483,862 | -€22,586 | -4.5% |
| Equity | 10/15 | €423,896 | €446,834 | +€22,938 | +5.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €361,814 | €384,752 | +€22,938 | +6.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €355,614 | €378,552 | +€22,938 | +6.5% |
| Profit (loss) carried forward | 14 | €82 | €82 | = | 0.0% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €52,552 | €7,028 | -€45,524 | -86.6% |
| Amounts payable within one year | 42/48 | €52,552 | €7,028 | -€45,524 | -86.6% |
| Current portion of amounts payable after more than one year | 42 | €2,800 | €2,800 | = | 0.0% |
| Trade debts | 44 | €674 | €256 | -€419 | -62.1% |
| Suppliers | 440/4 | €674 | €256 | -€419 | -62.1% |
| Taxes, remuneration and social security | 45 | €2,861 | €2,740 | -€121 | -4.2% |
| Taxes | 450/3 | €2,861 | €2,740 | -€121 | -4.2% |
| Other amounts payable | 47/48 | €46,217 | €1,232 | -€44,984 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,167 | €9,072 | -€95 | -1.0% |
| Other operating charges | 640/8 | €5,439 | €5,915 | +€476 | +8.8% |
| Gross operating margin | 9900 | €49,078 | €49,643 | +€565 | +1.2% |
| Operating profit (loss) | 9901 | €34,472 | €34,656 | +€184 | +0.5% |
| Financial income | 75/76B | - | €472 | +€472 | |
| Recurring financial income | 75 | - | €472 | +€472 | |
| Financial charges | 65/66B | €168 | €450 | +€282 | +167.6% |
| Recurring financial charges | 65 | €168 | €450 | +€282 | +167.6% |
| Profit (loss) for the period before taxes | 9903 | €34,304 | €34,678 | +€374 | +1.1% |
| Income taxes | 67/77 | €9,861 | €11,740 | +€1,879 | +19.1% |
| Profit (loss) for the period | 9904 | €24,443 | €22,938 | -€1,505 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,443 | €22,938 | -€1,505 | -6.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.