SINERGIO: what changed
SINERGIO
Largest movements
- Current investments +€154,903
up €154,903 (+258%), from €60,000 to €214,903
- Cash -€97,398
down €97,398 (-47.5%), from €205,140 to €107,742
mainly Current investments (-€154,903) and Investment in fixed assets (net) (-€12,550)
- Tangible fixed assets -€34,135
down €34,135 (-21.6%), from €157,950 to €123,815
of which Land and buildings: -€32,128
- Reserves +€36,002
up €36,002 (+10.7%), from €335,224 to €371,226
- Tax, wage and social debts -€9,718
down €9,718 (-18.7%), from €52,089 to €42,371
of which Taxes: -€16,461
- Trade debts -€7,004
down €7,004 (-27.7%), from €25,306 to €18,302
- Other debts +€4,870
up €4,870 (+84.2%), from €5,781 to €10,651
- Staff costs +€26,532
up €26,532 (+15.5%), from €170,886 to €197,417
- Taxes -€11,324
down €11,324 (-44.0%), from €25,722 to €14,398
- Gross operating margin -€7,318
down €7,318 (-2.4%), from €299,852 to €292,534
- Depreciation +€5,228
up €5,228 (+12.6%), from €41,457 to €46,685
- Financial income +€3,099
up €3,099 (+217%), from €1,430 to €4,529
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €439,727 | €464,460 | +€24,732 | +5.6% |
| Fixed assets | 21/28 | €158,012 | €123,877 | -€34,135 | -21.6% |
| Tangible fixed assets | 22/27 | €157,950 | €123,815 | -€34,135 | -21.6% |
| Land and buildings | 22 | €114,755 | €82,626 | -€32,128 | -28.0% |
| Plant, machinery and equipment | 23 | €7,255 | €14,996 | +€7,741 | +107% |
| Furniture and vehicles | 24 | €35,940 | €26,193 | -€9,747 | -27.1% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €281,716 | €340,582 | +€58,867 | +20.9% |
| Amounts receivable within one year | 40/41 | €11,164 | €10,566 | -€599 | -5.4% |
| Trade receivables | 40 | €11,164 | €8,712 | -€2,452 | -22.0% |
| Other amounts receivable | 41 | - | €1,853 | +€1,853 | |
| Current investments | 50/53 | €60,000 | €214,903 | +€154,903 | +258% |
| Cash at bank and in hand | 54/58 | €205,140 | €107,742 | -€97,398 | -47.5% |
| Deferred charges and accrued income | 490/1 | €5,411 | €7,372 | +€1,961 | +36.2% |
| Total equity and liabilities | 10/49 | €439,727 | €464,460 | +€24,732 | +5.6% |
| Equity | 10/15 | €354,224 | €390,226 | +€36,002 | +10.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €335,224 | €371,226 | +€36,002 | +10.7% |
| Distributable reserves | 133 | €335,224 | €371,226 | +€36,002 | +10.7% |
| Amounts payable | 17/49 | €85,504 | €74,233 | -€11,270 | -13.2% |
| Amounts payable within one year | 42/48 | €83,176 | €71,324 | -€11,852 | -14.2% |
| Trade debts | 44 | €25,306 | €18,302 | -€7,004 | -27.7% |
| Suppliers | 440/4 | €25,306 | €18,302 | -€7,004 | -27.7% |
| Taxes, remuneration and social security | 45 | €52,089 | €42,371 | -€9,718 | -18.7% |
| Taxes | 450/3 | €33,930 | €17,469 | -€16,461 | -48.5% |
| Remuneration and social security | 454/9 | €18,159 | €24,902 | +€6,743 | +37.1% |
| Other amounts payable | 47/48 | €5,781 | €10,651 | +€4,870 | +84.2% |
| Accrued charges and deferred income | 492/3 | €2,328 | €2,909 | +€582 | +25.0% |
| Remuneration, social security and pensions | 62 | €170,886 | €197,417 | +€26,532 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,457 | €46,685 | +€5,228 | +12.6% |
| Other operating charges | 640/8 | €2,363 | €1,505 | -€858 | -36.3% |
| Non-recurring operating charges | 66A | €745 | - | -€745 | |
| Gross operating margin | 9900 | €299,852 | €292,534 | -€7,318 | -2.4% |
| Operating profit (loss) | 9901 | €84,403 | €46,927 | -€37,475 | -44.4% |
| Financial income | 75/76B | €1,430 | €4,529 | +€3,099 | +217% |
| Recurring financial income | 75 | €1,430 | €4,529 | +€3,099 | +217% |
| Financial charges | 65/66B | €640 | €1,056 | +€416 | +65.0% |
| Recurring financial charges | 65 | €640 | €1,056 | +€416 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €85,193 | €50,400 | -€34,792 | -40.8% |
| Income taxes | 67/77 | €25,722 | €14,398 | -€11,324 | -44.0% |
| Profit (loss) for the period | 9904 | €59,471 | €36,002 | -€23,468 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,471 | €36,002 | -€23,468 | -39.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.