Siphon: 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.
Siphon
Largest movements
- Cash -€276,160
down €276,160 (-15.1%), from €1.8m to €1.6m
mainly Contributions, distributions and other (-€1.4m) and Trade debts (-€114,998)
- Receivables within one year -€136,468
down €136,468 (-71.7%), from €190,346 to €53,877
of which Trade receivables: -€95,479
- Tangible fixed assets -€125,020
down €125,020 (-22.4%), from €558,856 to €433,836
of which Other tangible fixed assets: -€94,354
- Deferred charges and accrued income +€111,998
up €111,998 (+1221.8%), from €9,167 to €121,164
- Reserves -€475,621
down €475,621 (-16.2%), from €2.9m to €2.5m
of which Distributable reserves: -€917,671
- Tax, wage and social debts +€139,622
up €139,622 (+79.3%), from €176,114 to €315,736
of which Taxes: +€128,676
- Trade debts -€114,998
down €114,998 (-38.7%), from €297,392 to €182,395
- Gross operating margin +€443,585
up €443,585 (+14.8%), from €3.0m to €3.4m
- Staff costs +€153,075
up €153,075 (+8.5%), from €1.8m to €1.9m
- Taxes +€87,657
up €87,657 (+37.4%), from €234,521 to €322,178
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 | €3,467,705 | €3,042,546 | -€425,159 | -12.3% |
| Fixed assets | 21/28 | €560,356 | €435,336 | -€125,020 | -22.3% |
| Tangible fixed assets | 22/27 | €558,856 | €433,836 | -€125,020 | -22.4% |
| Plant, machinery and equipment | 23 | €218,813 | €154,901 | -€63,912 | -29.2% |
| Furniture and vehicles | 24 | €14,681 | €47,926 | +€33,246 | +226.5% |
| Other tangible fixed assets | 26 | €325,363 | €231,009 | -€94,354 | -29.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €2,907,348 | €2,607,210 | -€300,138 | -10.3% |
| Amounts receivable after more than one year | 29 | €9,445 | €0 | -€9,445 | -100.0% |
| Other amounts receivable | 291 | €9,445 | €0 | -€9,445 | -100.0% |
| Stocks and contracts in progress | 3 | €865,586 | €875,524 | +€9,937 | +1.1% |
| Stocks | 30/36 | €865,586 | €875,524 | +€9,937 | +1.1% |
| Amounts receivable within one year | 40/41 | €190,346 | €53,877 | -€136,468 | -71.7% |
| Trade receivables | 40 | €134,199 | €38,720 | -€95,479 | -71.1% |
| Other amounts receivable | 41 | €56,146 | €15,157 | -€40,989 | -73.0% |
| Cash at bank and in hand | 54/58 | €1,832,805 | €1,556,645 | -€276,160 | -15.1% |
| Deferred charges and accrued income | 490/1 | €9,167 | €121,164 | +€111,998 | +1221.8% |
| Total equity and liabilities | 10/49 | €3,467,705 | €3,042,546 | -€425,159 | -12.3% |
| Equity | 10/15 | €2,994,198 | €2,518,577 | -€475,621 | -15.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,932,198 | €2,456,577 | -€475,621 | -16.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €266,690 | €708,740 | +€442,050 | +165.8% |
| Distributable reserves | 133 | €2,659,309 | €1,741,637 | -€917,671 | -34.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €473,506 | €523,969 | +€50,463 | +10.7% |
| Amounts payable within one year | 42/48 | €473,506 | €498,131 | +€24,625 | +5.2% |
| Trade debts | 44 | €297,392 | €182,395 | -€114,998 | -38.7% |
| Suppliers | 440/4 | €297,392 | €182,395 | -€114,998 | -38.7% |
| Taxes, remuneration and social security | 45 | €176,114 | €315,736 | +€139,622 | +79.3% |
| Taxes | 450/3 | €64,904 | €193,580 | +€128,676 | +198.3% |
| Remuneration and social security | 454/9 | €111,210 | €122,156 | +€10,946 | +9.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €25,838 | +€25,838 | |
| Non-recurring operating income | 76A | €10,347 | €9,347 | -€1,000 | -9.7% |
| Remuneration, social security and pensions | 62 | €1,794,503 | €1,947,578 | +€153,075 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,688 | €188,922 | -€17,766 | -8.6% |
| Other operating charges | 640/8 | €21,701 | €30,313 | +€8,613 | +39.7% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €2,997,307 | €3,440,893 | +€443,585 | +14.8% |
| Operating profit (loss) | 9901 | €974,415 | €1,274,079 | +€299,664 | +30.8% |
| Financial income | 75/76B | €5,566 | €288 | -€5,278 | -94.8% |
| Recurring financial income | 75 | €5,566 | €288 | -€5,278 | -94.8% |
| Financial charges | 65/66B | €19,441 | €27,810 | +€8,369 | +43.0% |
| Recurring financial charges | 65 | €19,441 | €27,810 | +€8,369 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €960,540 | €1,246,557 | +€286,017 | +29.8% |
| Income taxes | 67/77 | €234,521 | €322,178 | +€87,657 | +37.4% |
| Profit (loss) for the period | 9904 | €726,019 | €924,379 | +€198,360 | +27.3% |
| Transfer to tax-exempt reserves | 689 | €252,600 | €442,050 | +€189,450 | +75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €473,419 | €482,329 | +€8,910 | +1.9% |
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 1 October 2026 via checked.be.