SIRELEX: 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.
SIRELEX
Largest movements
- Receivables within one year +€237,384
up €237,384 (+25.1%), from €945,232 to €1.2m
of which Trade receivables: +€209,392
- Cash +€68,611
up €68,611 (+14.5%), from €471,985 to €540,596
mainly Net result for the year (+€589,828) and Other debts (+€142,786)
- Other debts +€142,786
up €142,786 (+39.8%), from €358,349 to €501,135
- Profit (loss) carried forward +€89,828
up €89,828 (+12.6%), from €715,498 to €805,327
- Accrued charges and deferred income +€56,424
up €56,424 (+37.7%), from €149,678 to €206,102
- Tax, wage and social debts +€18,594
up €18,594 (+18.3%), from €101,664 to €120,258
of which Taxes: +€14,956
- Gross operating margin +€272,719
up €272,719 (+31.1%), from €877,909 to €1.2m
- Staff costs +€67,846
up €67,846 (+23.8%), from €285,634 to €353,480
- Taxes +€50,866
up €50,866 (+33.2%), from €153,234 to €204,101
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 | €1,475,858 | €1,790,951 | +€315,093 | +21.3% |
| Fixed assets | 21/28 | €57,232 | €57,432 | +€200 | +0.4% |
| Tangible fixed assets | 22/27 | €57,232 | €57,432 | +€200 | +0.4% |
| Land and buildings | 22 | €34,993 | €30,557 | -€4,436 | -12.7% |
| Furniture and vehicles | 24 | €22,239 | €26,875 | +€4,636 | +20.8% |
| Current assets | 29/58 | €1,418,627 | €1,733,519 | +€314,893 | +22.2% |
| Amounts receivable within one year | 40/41 | €945,232 | €1,182,616 | +€237,384 | +25.1% |
| Trade receivables | 40 | €945,232 | €1,154,624 | +€209,392 | +22.2% |
| Other amounts receivable | 41 | €0 | €27,992 | +€27,992 | |
| Cash at bank and in hand | 54/58 | €471,985 | €540,596 | +€68,611 | +14.5% |
| Deferred charges and accrued income | 490/1 | €1,410 | €10,308 | +€8,898 | +631% |
| Total equity and liabilities | 10/49 | €1,475,858 | €1,790,951 | +€315,093 | +21.3% |
| Equity | 10/15 | €735,958 | €825,787 | +€89,828 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €715,498 | €805,327 | +€89,828 | +12.6% |
| Amounts payable | 17/49 | €739,900 | €965,165 | +€225,265 | +30.4% |
| Amounts payable within one year | 42/48 | €590,222 | €759,063 | +€168,841 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €130,209 | €137,670 | +€7,461 | +5.7% |
| Suppliers | 440/4 | €130,209 | €137,670 | +€7,461 | +5.7% |
| Taxes, remuneration and social security | 45 | €101,664 | €120,258 | +€18,594 | +18.3% |
| Taxes | 450/3 | €53,453 | €68,408 | +€14,956 | +28.0% |
| Remuneration and social security | 454/9 | €48,211 | €51,850 | +€3,638 | +7.5% |
| Other amounts payable | 47/48 | €358,349 | €501,135 | +€142,786 | +39.8% |
| Accrued charges and deferred income | 492/3 | €149,678 | €206,102 | +€56,424 | +37.7% |
| Non-recurring operating income | 76A | €221 | €547 | +€327 | +148% |
| Remuneration, social security and pensions | 62 | €285,634 | €353,480 | +€67,846 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,982 | €14,155 | +€2,173 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,768 | -€19,741 | +€6,026 | +23.4% |
| Other operating charges | 640/8 | €2,198 | €4,450 | +€2,252 | +102% |
| Gross operating margin | 9900 | €877,909 | €1,150,628 | +€272,719 | +31.1% |
| Operating profit (loss) | 9901 | €603,862 | €798,285 | +€194,422 | +32.2% |
| Financial charges | 65/66B | €3,330 | €4,355 | +€1,026 | +30.8% |
| Recurring financial charges | 65 | €3,330 | €4,355 | +€1,026 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €600,533 | €793,929 | +€193,396 | +32.2% |
| Income taxes | 67/77 | €153,234 | €204,101 | +€50,866 | +33.2% |
| Profit (loss) for the period | 9904 | €447,298 | €589,828 | +€142,530 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €447,298 | €589,828 | +€142,530 | +31.9% |
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 19 October 2026 via checked.be.