SIPRA: 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.
SIPRA
Largest movements
- Receivables within one year +€220,173
up €220,173 (+169.2%), from €130,156 to €350,329
of which Other amounts receivable: +€221,832
- Cash -€183,506
down €183,506 (-39.4%), from €465,341 to €281,835
mainly Receivables within one year (-€220,173) and Current portion of long-term debt (-€60,211)
- Deferred charges and accrued income +€18,611
up €18,611 (+128.3%), from €14,508 to €33,119
- Tangible fixed assets -€11,175
down €11,175 (-5.5%), from €204,681 to €193,506
of which Plant, machinery and equipment: -€13,240
- Stocks and contracts -€9,171
down €9,171 (-32.7%), from €28,005 to €18,835
- Trade debts +€86,234
up €86,234 (+31.7%), from €272,171 to €358,406
- Current portion of long-term debt -€60,211
down €60,211 (-84.5%), from €71,247 to €11,035
- Reserves +€23,414
up €23,414 (+7.6%), from €308,121 to €331,535
- Tax, wage and social debts -€10,495
down €10,495 (-8.8%), from €119,784 to €109,289
of which Remuneration and social security: -€10,190
- Gross operating margin +€40,722
up €40,722 (+3.6%), from €1.1m to €1.2m
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 | €843,286 | €878,220 | +€34,933 | +4.1% |
| Fixed assets | 21/28 | €205,276 | €194,101 | -€11,175 | -5.4% |
| Tangible fixed assets | 22/27 | €204,681 | €193,506 | -€11,175 | -5.5% |
| Plant, machinery and equipment | 23 | €204,178 | €190,938 | -€13,240 | -6.5% |
| Furniture and vehicles | 24 | €503 | €2,569 | +€2,066 | +410.7% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €638,011 | €684,118 | +€46,108 | +7.2% |
| Stocks and contracts in progress | 3 | €28,005 | €18,835 | -€9,171 | -32.7% |
| Stocks | 30/36 | €28,005 | €18,835 | -€9,171 | -32.7% |
| Amounts receivable within one year | 40/41 | €130,156 | €350,329 | +€220,173 | +169.2% |
| Trade receivables | 40 | €17,393 | €15,733 | -€1,660 | -9.5% |
| Other amounts receivable | 41 | €112,763 | €334,596 | +€221,832 | +196.7% |
| Cash at bank and in hand | 54/58 | €465,341 | €281,835 | -€183,506 | -39.4% |
| Deferred charges and accrued income | 490/1 | €14,508 | €33,119 | +€18,611 | +128.3% |
| Total equity and liabilities | 10/49 | €843,286 | €878,220 | +€34,933 | +4.1% |
| Equity | 10/15 | €370,094 | €393,508 | +€23,414 | +6.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €308,121 | €331,535 | +€23,414 | +7.6% |
| Distributable reserves | 133 | €308,121 | €331,535 | +€23,414 | +7.6% |
| Amounts payable | 17/49 | €473,192 | €484,712 | +€11,519 | +2.4% |
| Amounts payable after more than one year | 17 | €5,520 | - | -€5,520 | |
| Financial debts | 170/4 | €5,520 | - | -€5,520 | |
| Amounts payable within one year | 42/48 | €467,592 | €483,962 | +€16,370 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €71,247 | €11,035 | -€60,211 | -84.5% |
| Trade debts | 44 | €272,171 | €358,406 | +€86,234 | +31.7% |
| Suppliers | 440/4 | €272,171 | €358,406 | +€86,234 | +31.7% |
| Taxes, remuneration and social security | 45 | €119,784 | €109,289 | -€10,495 | -8.8% |
| Taxes | 450/3 | €324 | €19 | -€306 | -94.2% |
| Remuneration and social security | 454/9 | €119,460 | €109,270 | -€10,190 | -8.5% |
| Other amounts payable | 47/48 | €4,390 | €5,232 | +€842 | +19.2% |
| Accrued charges and deferred income | 492/3 | €80 | €750 | +€670 | +837.3% |
| Remuneration, social security and pensions | 62 | €1,041,076 | €1,048,489 | +€7,413 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,775 | €70,531 | +€8,756 | +14.2% |
| Other operating charges | 640/8 | €12,524 | €12,953 | +€429 | +3.4% |
| Gross operating margin | 9900 | €1,137,248 | €1,177,970 | +€40,722 | +3.6% |
| Operating profit (loss) | 9901 | €21,873 | €45,997 | +€24,123 | +110.3% |
| Financial income | 75/76B | €3,342 | €831 | -€2,511 | -75.1% |
| Recurring financial income | 75 | €3,342 | €831 | -€2,511 | -75.1% |
| Financial charges | 65/66B | €11,178 | €11,555 | +€378 | +3.4% |
| Recurring financial charges | 65 | €11,178 | €11,555 | +€378 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €14,038 | €35,272 | +€21,234 | +151.3% |
| Income taxes | 67/77 | €6,295 | €11,858 | +€5,563 | +88.4% |
| Profit (loss) for the period | 9904 | €7,743 | €23,414 | +€15,671 | +202.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,743 | €23,414 | +€15,671 | +202.4% |
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 8 October 2026 via checked.be.