SINERO: 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.
SINERO
Largest movements
- Cash -€14,818
down €14,818 (-13.9%), from €106,649 to €91,831
mainly Contributions, distributions and other (-€200,000) and Receivables within one year (-€8,664)
- Receivables within one year +€8,664
up €8,664 (+56.5%), from €15,326 to €23,990
of which Trade receivables: +€8,957
- Deferred charges and accrued income +€6,000
new in 2025: €6,000
- Tangible fixed assets -€3,229
down €3,229 (-35.8%), from €9,019 to €5,790
- Other debts +€161,995
up €161,995 (+1990.1%), from €8,140 to €170,135
- Profit (loss) carried forward -€159,101
down €159,101 (-94.5%), from €168,444 to €9,343
- Tax, wage and social debts -€6,672
down €6,672 (-54.3%), from €12,280 to €5,609
- Gross operating margin +€4,209
up €4,209 (+9.2%), from €45,525 to €49,734
- Taxes +€2,996
up €2,996 (+34.9%), from €8,577 to €11,572
- Financial income +€2,400
up €2,400 (+54.5%), from €4,400 to €6,800
- Depreciation +€1,389
up €1,389 (+75.5%), from €1,840 to €3,229
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 | €191,279 | €187,896 | -€3,383 | -1.8% |
| Fixed assets | 21/28 | €69,304 | €66,075 | -€3,229 | -4.7% |
| Tangible fixed assets | 22/27 | €9,019 | €5,790 | -€3,229 | -35.8% |
| Furniture and vehicles | 24 | €9,019 | €5,790 | -€3,229 | -35.8% |
| Financial fixed assets | 28 | €60,285 | €60,285 | = | 0.0% |
| Current assets | 29/58 | €121,975 | €121,821 | -€154 | -0.1% |
| Amounts receivable within one year | 40/41 | €15,326 | €23,990 | +€8,664 | +56.5% |
| Trade receivables | 40 | €533 | €9,490 | +€8,957 | +1679.1% |
| Other amounts receivable | 41 | €14,792 | €14,500 | -€292 | -2.0% |
| Cash at bank and in hand | 54/58 | €106,649 | €91,831 | -€14,818 | -13.9% |
| Deferred charges and accrued income | 490/1 | - | €6,000 | +€6,000 | |
| Total equity and liabilities | 10/49 | €191,279 | €187,896 | -€3,383 | -1.8% |
| Equity | 10/15 | €169,444 | €10,343 | -€159,101 | -93.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,444 | €9,343 | -€159,101 | -94.5% |
| Amounts payable | 17/49 | €21,834 | €177,553 | +€155,718 | +713.2% |
| Amounts payable within one year | 42/48 | €21,834 | €177,553 | +€155,718 | +713.2% |
| Trade debts | 44 | €1,414 | €1,809 | +€395 | +27.9% |
| Suppliers | 440/4 | €1,414 | €1,809 | +€395 | +27.9% |
| Taxes, remuneration and social security | 45 | €12,280 | €5,609 | -€6,672 | -54.3% |
| Taxes | 450/3 | €12,280 | €5,609 | -€6,672 | -54.3% |
| Other amounts payable | 47/48 | €8,140 | €170,135 | +€161,995 | +1990.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,840 | €3,229 | +€1,389 | +75.5% |
| Other operating charges | 640/8 | €636 | €759 | +€122 | +19.2% |
| Non-recurring operating charges | 66A | €640 | €0 | -€640 | -100.0% |
| Gross operating margin | 9900 | €45,525 | €49,734 | +€4,209 | +9.2% |
| Operating profit (loss) | 9901 | €42,409 | €45,746 | +€3,337 | +7.9% |
| Financial income | 75/76B | €4,400 | €6,800 | +€2,400 | +54.5% |
| Recurring financial income | 75 | €4,400 | €6,800 | +€2,400 | +54.5% |
| Financial charges | 65/66B | €379 | €75 | -€305 | -80.3% |
| Recurring financial charges | 65 | €379 | €75 | -€305 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €46,430 | €52,471 | +€6,041 | +13.0% |
| Income taxes | 67/77 | €8,577 | €11,572 | +€2,996 | +34.9% |
| Profit (loss) for the period | 9904 | €37,853 | €40,899 | +€3,046 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,853 | €40,899 | +€3,046 | +8.0% |
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 7 October 2026 via checked.be.