SINENCO: 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.
SINENCO
Largest movements
- Receivables within one year -€34,207
down €34,207 (-47.0%), from €72,792 to €38,586
of which Trade receivables: -€33,163
- Stocks and contracts -€14,236
no longer reported in 2025 (was €14,236)
of which Stocks: -€14,236
- Cash -€13,001
down €13,001 (-34.4%), from €37,817 to €24,815
mainly Net result for the year (-€32,903) and Trade debts (-€18,263)
- Tangible fixed assets -€4,479
down €4,479 (-23.8%), from €18,810 to €14,331
of which Plant, machinery and equipment: -€6,961
- Profit (loss) carried forward -€32,903
down €32,903 (-84.0%), from -€39,163 to -€72,066
- Trade debts -€18,263
down €18,263 (-69.7%), from €26,201 to €7,937
- Debts after one year -€15,745
down €15,745 (-27.5%), from €57,313 to €41,568
- Gross operating margin -€24,449
down €24,449, from €1,502 to -€22,947
- Financial charges -€957
down €957 (-52.1%), from €1,837 to €880
- Depreciation -€715
down €715 (-7.9%), from €9,108 to €8,393
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 | €143,655 | €77,732 | -€65,923 | -45.9% |
| Fixed assets | 21/28 | €18,810 | €14,331 | -€4,479 | -23.8% |
| Tangible fixed assets | 22/27 | €18,810 | €14,331 | -€4,479 | -23.8% |
| Plant, machinery and equipment | 23 | €17,031 | €10,070 | -€6,961 | -40.9% |
| Furniture and vehicles | 24 | €1,779 | €4,262 | +€2,482 | +139.5% |
| Current assets | 29/58 | €124,845 | €63,401 | -€61,445 | -49.2% |
| Stocks and contracts in progress | 3 | €14,236 | - | -€14,236 | |
| Stocks | 30/36 | €14,236 | - | -€14,236 | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €72,792 | €38,586 | -€34,207 | -47.0% |
| Trade receivables | 40 | €68,570 | €35,408 | -€33,163 | -48.4% |
| Other amounts receivable | 41 | €4,222 | €3,178 | -€1,044 | -24.7% |
| Cash at bank and in hand | 54/58 | €37,817 | €24,815 | -€13,001 | -34.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €143,655 | €77,732 | -€65,923 | -45.9% |
| Equity | 10/15 | €7,837 | -€25,066 | -€32,903 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,000 | €42,000 | = | 0.0% |
| Distributable reserves | 133 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,163 | -€72,066 | -€32,903 | -84.0% |
| Amounts payable | 17/49 | €135,819 | €102,798 | -€33,021 | -24.3% |
| Amounts payable after more than one year | 17 | €57,313 | €41,568 | -€15,745 | -27.5% |
| Financial debts | 170/4 | €57,313 | €41,568 | -€15,745 | -27.5% |
| Amounts payable within one year | 42/48 | €78,229 | €61,008 | -€17,221 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €21,830 | €22,021 | +€191 | +0.9% |
| Trade debts | 44 | €26,201 | €7,937 | -€18,263 | -69.7% |
| Suppliers | 440/4 | €26,201 | €7,937 | -€18,263 | -69.7% |
| Advances received on contracts in progress | 46 | €1,357 | €1,357 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €86 | €164 | +€78 | +90.4% |
| Taxes | 450/3 | €86 | €164 | +€78 | +90.4% |
| Other amounts payable | 47/48 | €28,755 | €29,528 | +€773 | +2.7% |
| Accrued charges and deferred income | 492/3 | €277 | €223 | -€54 | -19.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,108 | €8,393 | -€715 | -7.9% |
| Other operating charges | 640/8 | €886 | €682 | -€204 | -23.0% |
| Gross operating margin | 9900 | €1,502 | -€22,947 | -€24,449 | |
| Operating profit (loss) | 9901 | -€8,492 | -€32,023 | -€23,530 | -277.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,837 | €880 | -€957 | -52.1% |
| Recurring financial charges | 65 | €1,837 | €880 | -€957 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,330 | -€32,903 | -€22,573 | -218.5% |
| Income taxes | 67/77 | €153 | - | -€153 | |
| Profit (loss) for the period | 9904 | -€10,482 | -€32,903 | -€22,421 | -213.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,482 | -€32,903 | -€22,421 | -213.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.