SINEQUANON: 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.
SINEQUANON
Largest movements
- Cash -€17,754
down €17,754 (-22.6%), from €78,629 to €60,875
mainly Tax, wage and social debts (-€20,769) and Other debts (-€5,078)
- Deferred charges and accrued income -€2,027
down €2,027 (-19.8%), from €10,223 to €8,196
- Intangible fixed assets -€1,616
down €1,616 (-38.1%), from €4,246 to €2,630
- Tangible fixed assets +€1,561
up €1,561 (+43.4%), from €3,594 to €5,154
of which Furniture and vehicles: +€2,043
- Tax, wage and social debts -€20,769
down €20,769 (-85.8%), from €24,208 to €3,438
of which Taxes: -€23,269
- Trade debts +€5,659
up €5,659 (+539%), from €1,050 to €6,710
of which Suppliers: +€5,632
- Other debts -€5,078
down €5,078 (-85.4%), from €5,948 to €870
- Gross operating margin -€52,794
down €52,794 (-85.8%), from €61,507 to €8,713
- Taxes -€14,401
down €14,401 (-93.9%), from €15,339 to €938
- Depreciation +€840
up €840 (+37.0%), from €2,271 to €3,111
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 | €106,128 | €85,425 | -€20,703 | -19.5% |
| Fixed assets | 21/28 | €7,890 | €7,834 | -€55 | -0.7% |
| Intangible fixed assets | 21 | €4,246 | €2,630 | -€1,616 | -38.1% |
| Tangible fixed assets | 22/27 | €3,594 | €5,154 | +€1,561 | +43.4% |
| Plant, machinery and equipment | 23 | €2,234 | €1,752 | -€482 | -21.6% |
| Furniture and vehicles | 24 | €1,360 | €3,403 | +€2,043 | +150% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €98,238 | €77,591 | -€20,647 | -21.0% |
| Amounts receivable within one year | 40/41 | €9,387 | €8,520 | -€867 | -9.2% |
| Trade receivables | 40 | €9,387 | €6,027 | -€3,360 | -35.8% |
| Other amounts receivable | 41 | - | €2,493 | +€2,493 | |
| Cash at bank and in hand | 54/58 | €78,629 | €60,875 | -€17,754 | -22.6% |
| Deferred charges and accrued income | 490/1 | €10,223 | €8,196 | -€2,027 | -19.8% |
| Total equity and liabilities | 10/49 | €106,128 | €85,425 | -€20,703 | -19.5% |
| Equity | 10/15 | €74,833 | €74,168 | -€665 | -0.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €39,000 | €39,000 | = | 0.0% |
| Distributable reserves | 133 | €39,000 | €39,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,333 | €31,668 | -€665 | -2.1% |
| Amounts payable | 17/49 | €31,295 | €11,258 | -€20,038 | -64.0% |
| Amounts payable within one year | 42/48 | €31,206 | €11,018 | -€20,188 | -64.7% |
| Trade debts | 44 | €1,050 | €6,710 | +€5,659 | +539% |
| Suppliers | 440/4 | €1,050 | €6,683 | +€5,632 | +536% |
| Bills of exchange payable | 441 | - | €27 | +€27 | |
| Taxes, remuneration and social security | 45 | €24,208 | €3,438 | -€20,769 | -85.8% |
| Taxes | 450/3 | €24,208 | €938 | -€23,269 | -96.1% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €5,948 | €870 | -€5,078 | -85.4% |
| Accrued charges and deferred income | 492/3 | €89 | €240 | +€151 | +169% |
| Remuneration, social security and pensions | 62 | €1,520 | €1,520 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,271 | €3,111 | +€840 | +37.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €68 | +€68 | |
| Gross operating margin | 9900 | €61,507 | €8,713 | -€52,794 | -85.8% |
| Operating profit (loss) | 9901 | €57,329 | €3,614 | -€53,714 | -93.7% |
| Financial income | 75/76B | €8 | €7 | -€0 | -3.3% |
| Recurring financial income | 75 | €8 | €7 | -€0 | -3.3% |
| Financial charges | 65/66B | €2,872 | €3,348 | +€476 | +16.6% |
| Recurring financial charges | 65 | €2,872 | €3,348 | +€476 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €54,464 | €273 | -€54,191 | -99.5% |
| Income taxes | 67/77 | €15,339 | €938 | -€14,401 | -93.9% |
| Profit (loss) for the period | 9904 | €39,124 | -€665 | -€39,790 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,124 | -€665 | -€39,790 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.