SIPA - BELGIUM: what changed
SIPA - BELGIUM
Largest movements
- Stocks and contracts -€7,736
down €7,736 (-23.7%), from €32,705 to €24,969
- Cash +€5,159
up €5,159 (+3,647%), from €141 to €5,300
mainly Stocks and contracts (+€7,736) and Other debts (+€3,252)
- Receivables within one year +€2,726
up €2,726 (+39.4%), from €6,912 to €9,638
of which Trade receivables: +€3,184
- Financial fixed assets -€2,320
down €2,320 (-100%), from €2,320 to €0
- Profit (loss) carried forward -€7,633
down €7,633 (-8.5%), from -€89,747 to -€97,380
- Other debts +€3,252
up €3,252 (+2.9%), from €111,452 to €114,704
- Tax, wage and social debts +€1,343
up €1,343, from €0 to €1,343
- Trade debts +€637
up €637 (+53.2%), from €1,197 to €1,834
- Gross operating margin +€6,324
up €6,324 (+48.2%), from -€13,122 to -€6,797
- Other operating charges +€504
up €504 (+790%), from €64 to €568
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 | €43,353 | €40,952 | -€2,401 | -5.5% |
| Fixed assets | 21/28 | €3,595 | €1,045 | -€2,550 | -70.9% |
| Tangible fixed assets | 22/27 | €1,275 | €1,045 | -€230 | -18.0% |
| Plant, machinery and equipment | 23 | €1,275 | €1,045 | -€230 | -18.0% |
| Financial fixed assets | 28 | €2,320 | €0 | -€2,320 | -100% |
| Current assets | 29/58 | €39,759 | €39,907 | +€148 | +0.4% |
| Stocks and contracts in progress | 3 | €32,705 | €24,969 | -€7,736 | -23.7% |
| Stocks | 30/36 | €32,705 | €24,969 | -€7,736 | -23.7% |
| Amounts receivable within one year | 40/41 | €6,912 | €9,638 | +€2,726 | +39.4% |
| Trade receivables | 40 | €6,454 | €9,638 | +€3,184 | +49.3% |
| Other amounts receivable | 41 | €458 | €0 | -€458 | -100% |
| Cash at bank and in hand | 54/58 | €141 | €5,300 | +€5,159 | +3,647% |
| Total equity and liabilities | 10/49 | €43,353 | €40,952 | -€2,401 | -5.5% |
| Equity | 10/15 | -€69,296 | -€76,929 | -€7,633 | -11.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,747 | -€97,380 | -€7,633 | -8.5% |
| Amounts payable | 17/49 | €112,649 | €117,881 | +€5,231 | +4.6% |
| Amounts payable within one year | 42/48 | €112,649 | €117,881 | +€5,231 | +4.6% |
| Trade debts | 44 | €1,197 | €1,834 | +€637 | +53.2% |
| Suppliers | 440/4 | €1,197 | €1,834 | +€637 | +53.2% |
| Taxes, remuneration and social security | 45 | €0 | €1,343 | +€1,343 | |
| Taxes | 450/3 | €0 | €1,343 | +€1,343 | |
| Other amounts payable | 47/48 | €111,452 | €114,704 | +€3,252 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230 | €230 | = | 0.0% |
| Other operating charges | 640/8 | €64 | €568 | +€504 | +790% |
| Gross operating margin | 9900 | -€13,122 | -€6,797 | +€6,324 | +48.2% |
| Operating profit (loss) | 9901 | -€13,415 | -€7,595 | +€5,820 | +43.4% |
| Financial charges | 65/66B | €28 | €37 | +€10 | +34.3% |
| Recurring financial charges | 65 | €28 | €37 | +€10 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,443 | -€7,633 | +€5,810 | +43.2% |
| Profit (loss) for the period | 9904 | -€13,443 | -€7,633 | +€5,810 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,443 | -€7,633 | +€5,810 | +43.2% |
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.