SINENCO: what changed
What changed
SINENCO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€74,356
2024 · -€57,050+€131,405
Equity
€510,433
2024 · €436,077+€74,356
Cash
€62,459
2024 · €38,262+€24,197
Balance sheet total
€2.2m
2024 · €2.9m-€727,333
Largest movements
Assets
- Stocks and contracts -€747,955
down €747,955 (-42.0%), from €1.8m to €1.0m
Equity and liabilities
- Trade debts -€470,290
down €470,290 (-72.4%), from €649,397 to €179,107
- Short-term financial debts -€370,000
down €370,000 (-49.7%), from €745,000 to €375,000
- Accrued charges and deferred income +€333,689
up €333,689 (+5,461%), from €6,111 to €339,800
- Debts after one year -€284,422
down €284,422 (-64.3%), from €442,030 to €157,608
- Reserves +€74,356
up €74,356 (+28.8%), from €258,579 to €332,934
of which Distributable reserves: +€74,356
Income statement
- Gross operating margin +€121,177
up €121,177 (+2,810%), from €4,312 to €125,489
- Financial charges -€9,539
down €9,539 (-26.4%), from €36,150 to €26,611
- Taxes +€7,436
new in 2025: €7,436
- Other operating charges -€1,682
down €1,682 (-18.1%), from €9,314 to €7,633
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€57,050
Gross operating margin
+€121,177
Depreciation
-€157
Other operating charges
+€1,682
Other operating items
+€6,600
Financial charges
+€9,539
Taxes
-€7,436
Result 2025
€74,356
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€685,439
Investment
€0
Financing
-€661,242
Cash 2024
€38,262
From operations (derived)
+€685,439
Net result for the year
+€74,356
Depreciation
+€9,455
Stocks and contracts
+€747,955
Receivables within one year
-€6,794
Deferred charges and accrued income
+€915
Trade debts
-€470,290
Tax, wage and social debts
+€4,036
Other debts
-€7,881
Accrued charges and deferred income
+€333,689
Financing
-€661,242
Debts after one year
-€284,422
Current portion of long-term debt
-€6,820
Short-term financial debts
-€370,000
Cash 2025
€62,459
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,888,164 | €2,160,830 | -€727,333 | -25.2% |
| Fixed assets | 21/28 | €352,319 | €342,865 | -€9,455 | -2.7% |
| Tangible fixed assets | 22/27 | €72,319 | €62,865 | -€9,455 | -13.1% |
| Land and buildings | 22 | €64,800 | €57,600 | -€7,200 | -11.1% |
| Plant, machinery and equipment | 23 | €399 | €315 | -€84 | -21.1% |
| Furniture and vehicles | 24 | €7,121 | €4,950 | -€2,171 | -30.5% |
| Financial fixed assets | 28 | €280,000 | €280,000 | = | 0.0% |
| Current assets | 29/58 | €2,535,845 | €1,817,966 | -€717,879 | -28.3% |
| Stocks and contracts in progress | 3 | €1,780,110 | €1,032,155 | -€747,955 | -42.0% |
| Stocks | 30/36 | €1,780,110 | €1,032,155 | -€747,955 | -42.0% |
| Amounts receivable within one year | 40/41 | €716,558 | €723,352 | +€6,794 | +0.9% |
| Trade receivables | 40 | €422,304 | €407,506 | -€14,798 | -3.5% |
| Other amounts receivable | 41 | €294,253 | €315,846 | +€21,592 | +7.3% |
| Cash at bank and in hand | 54/58 | €38,262 | €62,459 | +€24,197 | +63.2% |
| Deferred charges and accrued income | 490/1 | €915 | - | -€915 | |
| Total equity and liabilities | 10/49 | €2,888,164 | €2,160,830 | -€727,333 | -25.2% |
| Equity | 10/15 | €436,077 | €510,433 | +€74,356 | +17.1% |
| Contributions | 10/11 | €59,841 | €59,841 | = | 0.0% |
| Reserves | 13 | €258,579 | €332,934 | +€74,356 | +28.8% |
| Tax-exempt reserves | 132 | €3,766 | €3,766 | = | 0.0% |
| Distributable reserves | 133 | €254,812 | €329,168 | +€74,356 | +29.2% |
| Profit (loss) carried forward | 14 | €117,658 | €117,658 | = | 0.0% |
| Amounts payable | 17/49 | €2,452,086 | €1,650,398 | -€801,689 | -32.7% |
| Amounts payable after more than one year | 17 | €442,030 | €157,608 | -€284,422 | -64.3% |
| Financial debts | 170/4 | €442,030 | €157,608 | -€284,422 | -64.3% |
| Amounts payable within one year | 42/48 | €2,003,946 | €1,152,990 | -€850,956 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €61,742 | €54,922 | -€6,820 | -11.0% |
| Financial debts | 43 | €745,000 | €375,000 | -€370,000 | -49.7% |
| Credit institutions | 430/8 | €745,000 | €375,000 | -€370,000 | -49.7% |
| Trade debts | 44 | €649,397 | €179,107 | -€470,290 | -72.4% |
| Suppliers | 440/4 | €649,397 | €179,107 | -€470,290 | -72.4% |
| Taxes, remuneration and social security | 45 | €5,100 | €9,136 | +€4,036 | +79.1% |
| Taxes | 450/3 | - | €7,436 | +€7,436 | |
| Remuneration and social security | 454/9 | €5,100 | €1,700 | -€3,400 | -66.7% |
| Other amounts payable | 47/48 | €542,707 | €534,826 | -€7,881 | -1.5% |
| Accrued charges and deferred income | 492/3 | €6,111 | €339,800 | +€333,689 | +5,461% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,298 | €9,455 | +€157 | +1.7% |
| Other operating charges | 640/8 | €9,314 | €7,633 | -€1,682 | -18.1% |
| Non-recurring operating charges | 66A | €6,600 | - | -€6,600 | |
| Gross operating margin | 9900 | €4,312 | €125,489 | +€121,177 | +2,810% |
| Operating profit (loss) | 9901 | -€20,900 | €108,402 | +€129,302 | |
| Financial charges | 65/66B | €36,150 | €26,611 | -€9,539 | -26.4% |
| Recurring financial charges | 65 | €36,150 | €26,611 | -€9,539 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€57,050 | €81,791 | +€138,841 | |
| Income taxes | 67/77 | - | €7,436 | +€7,436 | |
| Profit (loss) for the period | 9904 | -€57,050 | €74,356 | +€131,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,050 | €74,356 | +€131,405 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.