Sipers Johan: what changed
Sipers Johan
Largest movements
- Tangible fixed assets +€166,235
up €166,235 (+162%), from €102,626 to €268,861
of which Land and buildings: +€160,588
- Stocks and contracts +€127,110
up €127,110 (+553%), from €23,000 to €150,110
of which Stocks: +€140,110
- Cash -€40,408
down €40,408 (-57.5%), from €70,313 to €29,905
mainly Investment in fixed assets (net) (-€212,901) and Stocks and contracts (-€127,110)
- Debts after one year +€144,567
up €144,567 (+355%), from €40,775 to €185,343
- Current portion of long-term debt +€106,090
up €106,090 (+524%), from €20,254 to €126,344
- Trade debts -€30,001
down €30,001 (-50.3%), from €59,605 to €29,604
- Reserves +€29,305
up €29,305 (+59.8%), from €49,009 to €78,314
- Tax, wage and social debts +€5,096
new in 2025: €5,096
- Gross operating margin +€20,883
up €20,883 (+10.4%), from €200,546 to €221,430
- Depreciation +€8,128
up €8,128 (+21.1%), from €38,538 to €46,666
- Staff costs +€7,666
up €7,666 (+6.3%), from €121,375 to €129,041
- Financial charges -€5,009
down €5,009 (-52.2%), from €9,587 to €4,578
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 | €217,685 | €473,033 | +€255,348 | +117% |
| Fixed assets | 21/28 | €102,626 | €268,861 | +€166,235 | +162% |
| Tangible fixed assets | 22/27 | €102,626 | €268,861 | +€166,235 | +162% |
| Land and buildings | 22 | €1,045 | €161,633 | +€160,588 | +15,368% |
| Plant, machinery and equipment | 23 | €9,265 | €10,342 | +€1,077 | +11.6% |
| Furniture and vehicles | 24 | €19,880 | €19,423 | -€457 | -2.3% |
| Leasing and similar rights | 25 | €72,436 | €77,463 | +€5,027 | +6.9% |
| Current assets | 29/58 | €115,059 | €204,172 | +€89,114 | +77.5% |
| Stocks and contracts in progress | 3 | €23,000 | €150,110 | +€127,110 | +553% |
| Stocks | 30/36 | - | €140,110 | +€140,110 | |
| Contracts in progress | 37 | €23,000 | €10,000 | -€13,000 | -56.5% |
| Amounts receivable within one year | 40/41 | €21,746 | €24,157 | +€2,411 | +11.1% |
| Trade receivables | 40 | - | €10,839 | +€10,839 | |
| Other amounts receivable | 41 | €21,746 | €13,318 | -€8,428 | -38.8% |
| Cash at bank and in hand | 54/58 | €70,313 | €29,905 | -€40,408 | -57.5% |
| Total equity and liabilities | 10/49 | €217,685 | €473,033 | +€255,348 | +117% |
| Equity | 10/15 | €59,009 | €88,314 | +€29,305 | +49.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €49,009 | €78,314 | +€29,305 | +59.8% |
| Distributable reserves | 133 | €49,009 | €78,314 | +€29,305 | +59.8% |
| Amounts payable | 17/49 | €158,676 | €384,720 | +€226,043 | +142% |
| Amounts payable after more than one year | 17 | €40,775 | €185,343 | +€144,567 | +355% |
| Financial debts | 170/4 | €40,775 | €185,343 | +€144,567 | +355% |
| Amounts payable within one year | 42/48 | €115,101 | €199,377 | +€84,276 | +73.2% |
| Current portion of amounts payable after more than one year | 42 | €20,254 | €126,344 | +€106,090 | +524% |
| Trade debts | 44 | €59,605 | €29,604 | -€30,001 | -50.3% |
| Suppliers | 440/4 | €59,605 | €29,604 | -€30,001 | -50.3% |
| Taxes, remuneration and social security | 45 | - | €5,096 | +€5,096 | |
| Remuneration and social security | 454/9 | - | €5,096 | +€5,096 | |
| Other amounts payable | 47/48 | €35,241 | €38,333 | +€3,092 | +8.8% |
| Accrued charges and deferred income | 492/3 | €2,800 | - | -€2,800 | |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Remuneration, social security and pensions | 62 | €121,375 | €129,041 | +€7,666 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,538 | €46,666 | +€8,128 | +21.1% |
| Other operating charges | 640/8 | €1,538 | €1,432 | -€106 | -6.9% |
| Gross operating margin | 9900 | €200,546 | €221,430 | +€20,883 | +10.4% |
| Operating profit (loss) | 9901 | €39,095 | €44,291 | +€5,196 | +13.3% |
| Financial income | 75/76B | €64 | €52 | -€12 | -19.2% |
| Recurring financial income | 75 | €64 | €52 | -€12 | -19.2% |
| Financial charges | 65/66B | €9,587 | €4,578 | -€5,009 | -52.2% |
| Recurring financial charges | 65 | €9,587 | €4,578 | -€5,009 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | €29,572 | €39,764 | +€10,192 | +34.5% |
| Income taxes | 67/77 | €8,544 | €10,459 | +€1,916 | +22.4% |
| Profit (loss) for the period | 9904 | €21,028 | €29,305 | +€8,277 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,028 | €29,305 | +€8,277 | +39.4% |
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 3 November 2026 via checked.be.