SIREAL: what changed
Two financial 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.
SIREAL
Largest movements
- Cash +€22,805
up €22,805 (+104.1%), from €21,917 to €44,721
mainly Other debts (+€86,011) and Net result for the year (+€39,749)
- Tangible fixed assets -€5,649
down €5,649 (-7.8%), from €72,411 to €66,762
of which Land and buildings: -€11,610
- Receivables within one year -€3,407
down €3,407 (-13.2%), from €25,741 to €22,334
of which Trade receivables: -€6,165
- Other debts +€86,011
up €86,011 (+3332.0%), from €2,581 to €88,593
- Reserves -€59,730
down €59,730 (-35.4%), from €168,860 to €109,130
of which Distributable reserves: -€59,730
- Tax, wage and social debts -€14,096
down €14,096 (-70.8%), from €19,897 to €5,801
of which Taxes: -€14,096
- Gross operating margin +€23,177
up €23,177 (+45.3%), from €51,180 to €74,358
- Taxes +€4,218
up €4,218 (+39.7%), from €10,629 to €14,847
- Depreciation +€798
up €798 (+5.6%), from €14,130 to €14,928
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 | €269,693 | €283,852 | +€14,158 | +5.2% |
| Fixed assets | 21/28 | €72,411 | €66,762 | -€5,649 | -7.8% |
| Tangible fixed assets | 22/27 | €72,411 | €66,762 | -€5,649 | -7.8% |
| Land and buildings | 22 | €58,052 | €46,442 | -€11,610 | -20.0% |
| Furniture and vehicles | 24 | €534 | €184 | -€350 | -65.5% |
| Other tangible fixed assets | 26 | €13,825 | €20,136 | +€6,311 | +45.6% |
| Current assets | 29/58 | €197,282 | €217,090 | +€19,808 | +10.0% |
| Amounts receivable within one year | 40/41 | €25,741 | €22,334 | -€3,407 | -13.2% |
| Trade receivables | 40 | €24,224 | €18,059 | -€6,165 | -25.5% |
| Other amounts receivable | 41 | €1,517 | €4,275 | +€2,758 | +181.8% |
| Current investments | 50/53 | €145,672 | €146,012 | +€340 | +0.2% |
| Cash at bank and in hand | 54/58 | €21,917 | €44,721 | +€22,805 | +104.1% |
| Deferred charges and accrued income | 490/1 | €3,952 | €4,023 | +€71 | +1.8% |
| Total equity and liabilities | 10/49 | €269,693 | €283,852 | +€14,158 | +5.2% |
| Equity | 10/15 | €241,783 | €182,053 | -€59,730 | -24.7% |
| 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 | €168,860 | €109,130 | -€59,730 | -35.4% |
| Non-distributable reserves | 130/1 | €6,380 | €6,380 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Own shares acquired | 1312 | €180 | €180 | = | 0.0% |
| Distributable reserves | 133 | €162,480 | €102,750 | -€59,730 | -36.8% |
| Profit (loss) carried forward | 14 | €10,923 | €10,923 | = | 0.0% |
| Amounts payable | 17/49 | €27,910 | €101,799 | +€73,889 | +264.7% |
| Amounts payable within one year | 42/48 | €27,131 | €101,615 | +€74,484 | +274.5% |
| Current portion of amounts payable after more than one year | 42 | €427 | €423 | -€4 | -0.9% |
| Trade debts | 44 | €4,225 | €6,798 | +€2,572 | +60.9% |
| Suppliers | 440/4 | €4,225 | €6,798 | +€2,572 | +60.9% |
| Taxes, remuneration and social security | 45 | €19,897 | €5,801 | -€14,096 | -70.8% |
| Taxes | 450/3 | €19,897 | €5,801 | -€14,096 | -70.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,581 | €88,593 | +€86,011 | +3332.0% |
| Accrued charges and deferred income | 492/3 | €779 | €184 | -€595 | -76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,130 | €14,928 | +€798 | +5.6% |
| Other operating charges | 640/8 | €4,545 | €5,007 | +€462 | +10.2% |
| Gross operating margin | 9900 | €51,180 | €74,358 | +€23,177 | +45.3% |
| Operating profit (loss) | 9901 | €32,505 | €54,423 | +€21,917 | +67.4% |
| Financial income | 75/76B | €214 | €804 | +€591 | +276.2% |
| Recurring financial income | 75 | €214 | €804 | +€591 | +276.2% |
| Financial charges | 65/66B | €1,282 | €631 | -€651 | -50.8% |
| Recurring financial charges | 65 | €1,282 | €631 | -€651 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | €31,437 | €54,596 | +€23,159 | +73.7% |
| Income taxes | 67/77 | €10,629 | €14,847 | +€4,218 | +39.7% |
| Profit (loss) for the period | 9904 | €20,808 | €39,749 | +€18,941 | +91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,808 | €39,749 | +€18,941 | +91.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.