Sinesco: 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.
Sinesco
Largest movements
- Receivables within one year -€21,479
down €21,479 (-82.0%), from €26,205 to €4,726
of which Other amounts receivable: -€25,024
- Cash -€6,354
down €6,354 (-67.5%), from €9,420 to €3,066
mainly Net result for the year (-€76,822) and Tax, wage and social debts (-€6,266)
- Profit (loss) carried forward -€76,823
down €76,823 (-36.2%), from -€211,968 to -€288,791
- Other debts +€47,917
up €47,917 (+26.9%), from €178,320 to €226,237
- Trade debts +€7,471
up €7,471, from €0 to €7,471
- Tax, wage and social debts -€6,266
down €6,266 (-100%), from €6,266 to €0
- Gross operating margin +€8,358
up €8,358 (+39.3%), from €21,250 to €29,608
- Staff costs +€5,171
up €5,171 (+5.8%), from €89,576 to €94,747
- Depreciation -€3,256
down €3,256 (-35.9%), from €9,072 to €5,816
- Financial charges -€395
down €395 (-32.1%), from €1,229 to €834
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 | €72,177 | €44,477 | -€27,700 | -38.4% |
| Fixed assets | 21/28 | €36,456 | €36,590 | +€134 | +0.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €30,456 | €30,590 | +€134 | +0.4% |
| Land and buildings | 22 | €11,766 | €15,254 | +€3,488 | +29.6% |
| Plant, machinery and equipment | 23 | €9,301 | €6,468 | -€2,833 | -30.5% |
| Other tangible fixed assets | 26 | €9,389 | €8,868 | -€521 | -5.5% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €35,721 | €7,887 | -€27,834 | -77.9% |
| Stocks and contracts in progress | 3 | €95 | €95 | = | 0.0% |
| Stocks | 30/36 | €95 | €95 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,205 | €4,726 | -€21,479 | -82.0% |
| Trade receivables | 40 | €1,181 | €4,726 | +€3,545 | +300% |
| Other amounts receivable | 41 | €25,024 | €0 | -€25,024 | -100% |
| Cash at bank and in hand | 54/58 | €9,420 | €3,066 | -€6,354 | -67.5% |
| Deferred charges and accrued income | 490/1 | €1 | - | -€1 | |
| Total equity and liabilities | 10/49 | €72,177 | €44,477 | -€27,700 | -38.4% |
| Equity | 10/15 | -€112,409 | -€189,232 | -€76,823 | -68.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €93,359 | €93,359 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €91,499 | €91,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,968 | -€288,791 | -€76,823 | -36.2% |
| Amounts payable | 17/49 | €184,586 | €233,709 | +€49,123 | +26.6% |
| Amounts payable within one year | 42/48 | €184,586 | €233,708 | +€49,122 | +26.6% |
| Trade debts | 44 | €0 | €7,471 | +€7,471 | |
| Suppliers | 440/4 | €0 | €7,471 | +€7,471 | |
| Taxes, remuneration and social security | 45 | €6,266 | €0 | -€6,266 | -100% |
| Taxes | 450/3 | €6,266 | €0 | -€6,266 | -100% |
| Other amounts payable | 47/48 | €178,320 | €226,237 | +€47,917 | +26.9% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €89,576 | €94,747 | +€5,171 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,072 | €5,816 | -€3,256 | -35.9% |
| Other operating charges | 640/8 | €5,179 | €5,033 | -€146 | -2.8% |
| Gross operating margin | 9900 | €21,250 | €29,608 | +€8,358 | +39.3% |
| Operating profit (loss) | 9901 | -€82,577 | -€75,988 | +€6,589 | +8.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,229 | €834 | -€395 | -32.1% |
| Recurring financial charges | 65 | €1,229 | €834 | -€395 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | -€83,806 | -€76,822 | +€6,984 | +8.3% |
| Profit (loss) for the period | 9904 | -€83,806 | -€76,822 | +€6,984 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,806 | -€76,822 | +€6,984 | +8.3% |
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 13 October 2026 via checked.be.