SINGEL 9: 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.
SINGEL 9
Largest movements
- Receivables within one year -€19,447
down €19,447 (-85.7%), from €22,688 to €3,241
of which Other amounts receivable: -€12,848
- Tangible fixed assets -€15,818
down €15,818 (-28.0%), from €56,513 to €40,695
of which Leasing and similar rights: -€12,644
- Cash -€15,603
down €15,603 (-80.6%), from €19,359 to €3,756
mainly Net result for the year (-€61,807) and Investment in fixed assets (net) (-€8,929)
- Stocks and contracts -€5,000
down €5,000 (-4.1%), from €122,696 to €117,696
- Reserves -€61,807
down €61,807 (-35.2%), from €175,346 to €113,539
- Other debts +€16,419
up €16,419 (+452.3%), from €3,630 to €20,049
- Current portion of long-term debt -€5,800
down €5,800 (-58.0%), from €10,005 to €4,205
- Debts after one year -€4,205
down €4,205 (-100.0%), from €4,205 to €0
- Staff costs -€2,884
down €2,884 (-100.0%), from €2,884 to €0
- Other operating charges +€1,079
up €1,079 (+34.3%), from €3,147 to €4,226
- Depreciation +€1,023
up €1,023 (+4.3%), from €23,762 to €24,785
- Financial income -€758
down €758 (-100.0%), from €758 to €0
- Gross operating margin -€625
down €625 (-2.0%), from -€31,677 to -€32,302
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 | €223,282 | €165,728 | -€57,555 | -25.8% |
| Fixed assets | 21/28 | €56,839 | €40,982 | -€15,857 | -27.9% |
| Intangible fixed assets | 21 | €326 | €287 | -€38 | -11.8% |
| Tangible fixed assets | 22/27 | €56,513 | €40,695 | -€15,818 | -28.0% |
| Land and buildings | 22 | €19,174 | €22,380 | +€3,206 | +16.7% |
| Plant, machinery and equipment | 23 | €11,394 | €8,440 | -€2,954 | -25.9% |
| Furniture and vehicles | 24 | €7,066 | €3,639 | -€3,427 | -48.5% |
| Leasing and similar rights | 25 | €18,879 | €6,235 | -€12,644 | -67.0% |
| Current assets | 29/58 | €166,443 | €124,745 | -€41,698 | -25.1% |
| Stocks and contracts in progress | 3 | €122,696 | €117,696 | -€5,000 | -4.1% |
| Stocks | 30/36 | €122,696 | €117,696 | -€5,000 | -4.1% |
| Amounts receivable within one year | 40/41 | €22,688 | €3,241 | -€19,447 | -85.7% |
| Trade receivables | 40 | €6,599 | €0 | -€6,599 | -100.0% |
| Other amounts receivable | 41 | €16,089 | €3,241 | -€12,848 | -79.9% |
| Cash at bank and in hand | 54/58 | €19,359 | €3,756 | -€15,603 | -80.6% |
| Deferred charges and accrued income | 490/1 | €1,700 | €52 | -€1,648 | -97.0% |
| Total equity and liabilities | 10/49 | €223,282 | €165,728 | -€57,555 | -25.8% |
| Equity | 10/15 | €193,946 | €132,139 | -€61,807 | -31.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,346 | €113,539 | -€61,807 | -35.2% |
| Distributable reserves | 133 | €175,346 | €113,539 | -€61,807 | -35.2% |
| Amounts payable | 17/49 | €29,336 | €33,589 | +€4,253 | +14.5% |
| Amounts payable after more than one year | 17 | €4,205 | €0 | -€4,205 | -100.0% |
| Financial debts | 170/4 | €4,205 | €0 | -€4,205 | -100.0% |
| Amounts payable within one year | 42/48 | €25,131 | €33,034 | +€7,903 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €10,005 | €4,205 | -€5,800 | -58.0% |
| Trade debts | 44 | €7,497 | €6,801 | -€696 | -9.3% |
| Suppliers | 440/4 | €7,497 | €6,801 | -€696 | -9.3% |
| Taxes, remuneration and social security | 45 | €3,999 | €1,978 | -€2,021 | -50.5% |
| Taxes | 450/3 | €2,499 | €478 | -€2,021 | -80.9% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €3,630 | €20,049 | +€16,419 | +452.3% |
| Accrued charges and deferred income | 492/3 | €0 | €555 | +€555 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,884 | €0 | -€2,884 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,762 | €24,785 | +€1,023 | +4.3% |
| Other operating charges | 640/8 | €3,147 | €4,226 | +€1,079 | +34.3% |
| Gross operating margin | 9900 | -€31,677 | -€32,302 | -€625 | -2.0% |
| Operating profit (loss) | 9901 | -€61,469 | -€61,312 | +€157 | +0.3% |
| Financial income | 75/76B | €758 | €0 | -€758 | -100.0% |
| Recurring financial income | 75 | €758 | €0 | -€758 | -100.0% |
| Financial charges | 65/66B | €593 | €337 | -€257 | -43.2% |
| Recurring financial charges | 65 | €593 | €337 | -€257 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | -€61,304 | -€61,649 | -€345 | -0.6% |
| Income taxes | 67/77 | €217 | €158 | -€59 | -27.2% |
| Profit (loss) for the period | 9904 | -€61,522 | -€61,807 | -€285 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,522 | -€61,807 | -€285 | -0.5% |
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 3 October 2026 via checked.be.