SIRABEL: 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.
SIRABEL
Largest movements
- Receivables within one year +€66,184
up €66,184 (+183.9%), from €35,982 to €102,166
of which Other amounts receivable: +€56,124
- Cash +€52,039
up €52,039 (+38.6%), from €134,917 to €186,956
mainly Net result for the year (+€101,570) and Trade debts (+€72,551)
- Intangible fixed assets +€36,540
up €36,540 (+89.1%), from €41,013 to €77,553
- Tangible fixed assets -€30,485
down €30,485 (-8.7%), from €348,581 to €318,096
of which Other tangible fixed assets: -€26,190
- Stocks and contracts +€15,755
up €15,755 (+743.8%), from €2,118 to €17,874
- Reserves +€100,000
up €100,000 (+69.0%), from €145,000 to €245,000
- Trade debts +€72,551
up €72,551 (+89.9%), from €80,676 to €153,228
- Other debts -€47,818
down €47,818 (-58.6%), from €81,572 to €33,755
- Tax, wage and social debts +€40,719
up €40,719 (+71.3%), from €57,141 to €97,859
of which Remuneration and social security: +€32,070
- Debts after one year -€16,631
down €16,631 (-10.3%), from €161,463 to €144,832
- Staff costs +€174,052
up €174,052 (+72.2%), from €240,925 to €414,977
- Gross operating margin +€92,691
up €92,691 (+18.2%), from €509,065 to €601,756
- Depreciation +€21,599
up €21,599 (+56.4%), from €38,305 to €59,905
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 | €612,611 | €752,645 | +€140,034 | +22.9% |
| Fixed assets | 21/28 | €389,594 | €395,649 | +€6,055 | +1.6% |
| Intangible fixed assets | 21 | €41,013 | €77,553 | +€36,540 | +89.1% |
| Tangible fixed assets | 22/27 | €348,581 | €318,096 | -€30,485 | -8.7% |
| Plant, machinery and equipment | 23 | €23,589 | €18,330 | -€5,259 | -22.3% |
| Furniture and vehicles | 24 | €45,461 | €46,425 | +€964 | +2.1% |
| Other tangible fixed assets | 26 | €279,531 | €253,341 | -€26,190 | -9.4% |
| Current assets | 29/58 | €223,017 | €356,996 | +€133,979 | +60.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,118 | €17,874 | +€15,755 | +743.8% |
| Stocks | 30/36 | €2,118 | €17,874 | +€15,755 | +743.8% |
| Amounts receivable within one year | 40/41 | €35,982 | €102,166 | +€66,184 | +183.9% |
| Trade receivables | 40 | €32,552 | €42,611 | +€10,060 | +30.9% |
| Other amounts receivable | 41 | €3,430 | €59,555 | +€56,124 | +1636.1% |
| Cash at bank and in hand | 54/58 | €134,917 | €186,956 | +€52,039 | +38.6% |
| Total equity and liabilities | 10/49 | €612,611 | €752,645 | +€140,034 | +22.9% |
| Equity | 10/15 | €213,877 | €304,334 | +€90,457 | +42.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €145,000 | €245,000 | +€100,000 | +69.0% |
| Distributable reserves | 133 | €145,000 | €245,000 | +€100,000 | +69.0% |
| Profit (loss) carried forward | 14 | €4,427 | €5,996 | +€1,570 | +35.5% |
| Investment grants | 15 | €44,451 | €33,338 | -€11,113 | -25.0% |
| Amounts payable | 17/49 | €398,734 | €448,310 | +€49,577 | +12.4% |
| Amounts payable after more than one year | 17 | €161,463 | €144,832 | -€16,631 | -10.3% |
| Financial debts | 170/4 | €161,463 | €144,832 | -€16,631 | -10.3% |
| Amounts payable within one year | 42/48 | €237,271 | €303,478 | +€66,207 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €17,881 | €18,637 | +€755 | +4.2% |
| Trade debts | 44 | €80,676 | €153,228 | +€72,551 | +89.9% |
| Suppliers | 440/4 | €80,676 | €153,228 | +€72,551 | +89.9% |
| Taxes, remuneration and social security | 45 | €57,141 | €97,859 | +€40,719 | +71.3% |
| Taxes | 450/3 | €29,156 | €37,805 | +€8,649 | +29.7% |
| Remuneration and social security | 454/9 | €27,984 | €60,054 | +€32,070 | +114.6% |
| Other amounts payable | 47/48 | €81,572 | €33,755 | -€47,818 | -58.6% |
| Remuneration, social security and pensions | 62 | €240,925 | €414,977 | +€174,052 | +72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,305 | €59,905 | +€21,599 | +56.4% |
| Other operating charges | 640/8 | €872 | €400 | -€472 | -54.2% |
| Gross operating margin | 9900 | €509,065 | €601,756 | +€92,691 | +18.2% |
| Operating profit (loss) | 9901 | €228,963 | €126,474 | -€102,489 | -44.8% |
| Financial income | 75/76B | €12,469 | €11,833 | -€636 | -5.1% |
| Recurring financial income | 75 | €12,469 | €11,833 | -€636 | -5.1% |
| Financial charges | 65/66B | €14,301 | €14,758 | +€457 | +3.2% |
| Recurring financial charges | 65 | €14,301 | €14,758 | +€457 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €227,130 | €123,549 | -€103,581 | -45.6% |
| Income taxes | 67/77 | €27,703 | €21,979 | -€5,724 | -20.7% |
| Profit (loss) for the period | 9904 | €199,427 | €101,570 | -€97,857 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €199,427 | €101,570 | -€97,857 | -49.1% |
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 30 September 2026 via checked.be.