SIREC: 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.
SIREC
Largest movements
- Current investments +€89,856
up €89,856 (+44.9%), from €200,144 to €290,000
- Tangible fixed assets -€11,204
down €11,204 (-34.0%), from €32,983 to €21,779
- Deferred charges and accrued income +€5,155
up €5,155 (+405%), from €1,274 to €6,429
- Reserves +€63,677
up €63,677 (+26.9%), from €237,017 to €300,694
of which Distributable reserves: +€65,536
- Other debts +€23,747
up €23,747 (+69.7%), from €34,049 to €57,795
- Gross operating margin +€95,269
up €95,269 (+108%), from €88,533 to €183,803
- Taxes +€29,867
up €29,867 (+144%), from €20,755 to €50,622
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.
Derived cash bridge
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 | €283,131 | €370,076 | +€86,946 | +30.7% |
| Fixed assets | 21/28 | €32,983 | €21,779 | -€11,204 | -34.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €32,983 | €21,779 | -€11,204 | -34.0% |
| Furniture and vehicles | 24 | €32,983 | €21,779 | -€11,204 | -34.0% |
| Current assets | 29/58 | €250,147 | €348,297 | +€98,150 | +39.2% |
| Amounts receivable within one year | 40/41 | €43,454 | €46,119 | +€2,664 | +6.1% |
| Other amounts receivable | 41 | €43,454 | €46,119 | +€2,664 | +6.1% |
| Current investments | 50/53 | €200,144 | €290,000 | +€89,856 | +44.9% |
| Cash at bank and in hand | 54/58 | €5,275 | €5,749 | +€474 | +9.0% |
| Deferred charges and accrued income | 490/1 | €1,274 | €6,429 | +€5,155 | +405% |
| Total equity and liabilities | 10/49 | €283,131 | €370,076 | +€86,946 | +30.7% |
| Equity | 10/15 | €243,214 | €306,891 | +€63,677 | +26.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €237,017 | €300,694 | +€63,677 | +26.9% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €235,158 | €300,694 | +€65,536 | +27.9% |
| Amounts payable | 17/49 | €39,916 | €63,185 | +€23,269 | +58.3% |
| Amounts payable within one year | 42/48 | €39,916 | €63,185 | +€23,269 | +58.3% |
| Trade debts | 44 | €1,367 | €702 | -€665 | -48.6% |
| Suppliers | 440/4 | €1,367 | €702 | -€665 | -48.6% |
| Taxes, remuneration and social security | 45 | €4,500 | €4,687 | +€187 | +4.2% |
| Taxes | 450/3 | €4,500 | €4,687 | +€187 | +4.2% |
| Other amounts payable | 47/48 | €34,049 | €57,795 | +€23,747 | +69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,798 | €11,204 | -€594 | -5.0% |
| Other operating charges | 640/8 | €1,795 | €1,599 | -€196 | -10.9% |
| Gross operating margin | 9900 | €88,533 | €183,803 | +€95,269 | +108% |
| Operating profit (loss) | 9901 | €74,940 | €170,999 | +€96,059 | +128% |
| Financial income | 75/76B | €617 | €1,449 | +€831 | +135% |
| Recurring financial income | 75 | €617 | €1,449 | +€831 | +135% |
| Financial charges | 65/66B | €469 | €354 | -€115 | -24.4% |
| Recurring financial charges | 65 | €469 | €354 | -€115 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €75,089 | €172,094 | +€97,005 | +129% |
| Income taxes | 67/77 | €20,755 | €50,622 | +€29,867 | +144% |
| Profit (loss) for the period | 9904 | €54,334 | €121,472 | +€67,138 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €54,334 | €121,472 | +€67,138 | +124% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.