SiRen: 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.
SiRen
Largest movements
- Receivables within one year +€112,460
up €112,460 (+50.0%), from €224,962 to €337,422
of which Other amounts receivable: +€94,655
- Tangible fixed assets -€57,310
down €57,310 (-9.1%), from €629,177 to €571,867
of which Land and buildings: -€55,653
- Cash -€39,127
down €39,127 (-59.1%), from €66,197 to €27,071
mainly Contributions, distributions and other (-€296,369) and Receivables within one year (-€112,460)
- Reserves -€251,030
down €251,030 (-53.5%), from €469,037 to €218,007
of which Distributable reserves: -€251,030
- Other debts +€225,598
up €225,598 (+262.0%), from €86,113 to €311,710
- Tax, wage and social debts +€51,150
up €51,150 (+292.6%), from €17,483 to €68,633
of which Taxes: +€52,998
- Debts after one year -€48,024
down €48,024 (-8.8%), from €542,810 to €494,787
- Trade debts +€38,306
up €38,306 (+216.4%), from €17,703 to €56,010
- Gross operating margin -€10,140
down €10,140 (-6.9%), from €147,010 to €136,871
- Taxes -€8,970
down €8,970 (-41.7%), from €21,506 to €12,536
- Other operating charges +€2,109
up €2,109 (+84.3%), from €2,501 to €4,610
- Financial income +€1,880
up €1,880 (+44.1%), from €4,265 to €6,145
of which Financial income: +€2,413
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 | €1,195,844 | €1,211,867 | +€16,024 | +1.3% |
| Fixed assets | 21/28 | €874,177 | €816,867 | -€57,310 | -6.6% |
| Tangible fixed assets | 22/27 | €629,177 | €571,867 | -€57,310 | -9.1% |
| Land and buildings | 22 | €617,007 | €561,354 | -€55,653 | -9.0% |
| Plant, machinery and equipment | 23 | €6,960 | €5,205 | -€1,755 | -25.2% |
| Furniture and vehicles | 24 | €5,210 | €5,308 | +€99 | +1.9% |
| Financial fixed assets | 28 | €245,000 | €245,000 | = | 0.0% |
| Current assets | 29/58 | €321,667 | €395,000 | +€73,333 | +22.8% |
| Stocks and contracts in progress | 3 | €30,507 | €30,507 | = | 0.0% |
| Stocks | 30/36 | €30,507 | €30,507 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €224,962 | €337,422 | +€112,460 | +50.0% |
| Trade receivables | 40 | €49,175 | €66,980 | +€17,805 | +36.2% |
| Other amounts receivable | 41 | €175,788 | €270,442 | +€94,655 | +53.8% |
| Cash at bank and in hand | 54/58 | €66,197 | €27,071 | -€39,127 | -59.1% |
| Total equity and liabilities | 10/49 | €1,195,844 | €1,211,867 | +€16,024 | +1.3% |
| Equity | 10/15 | €473,037 | €222,007 | -€251,030 | -53.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €469,037 | €218,007 | -€251,030 | -53.5% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | €405,887 | €154,857 | -€251,030 | -61.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €722,807 | €989,861 | +€267,054 | +36.9% |
| Amounts payable after more than one year | 17 | €542,810 | €494,787 | -€48,024 | -8.8% |
| Financial debts | 170/4 | €542,810 | €494,787 | -€48,024 | -8.8% |
| Amounts payable within one year | 42/48 | €179,996 | €495,074 | +€315,078 | +175.0% |
| Current portion of amounts payable after more than one year | 42 | €58,697 | €50,787 | -€7,910 | -13.5% |
| Trade debts | 44 | €17,703 | €56,010 | +€38,306 | +216.4% |
| Suppliers | 440/4 | €17,703 | €56,010 | +€38,306 | +216.4% |
| Advances received on contracts in progress | 46 | - | €7,934 | +€7,934 | |
| Taxes, remuneration and social security | 45 | €17,483 | €68,633 | +€51,150 | +292.6% |
| Taxes | 450/3 | €15,185 | €68,183 | +€52,998 | +349.0% |
| Remuneration and social security | 454/9 | €2,298 | €450 | -€1,848 | -80.4% |
| Other amounts payable | 47/48 | €86,113 | €311,710 | +€225,598 | +262.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,569 | €60,891 | +€322 | +0.5% |
| Other operating charges | 640/8 | €2,501 | €4,610 | +€2,109 | +84.3% |
| Non-recurring operating charges | 66A | €5,322 | €0 | -€5,322 | -100.0% |
| Gross operating margin | 9900 | €147,010 | €136,871 | -€10,140 | -6.9% |
| Operating profit (loss) | 9901 | €78,618 | €71,369 | -€7,249 | -9.2% |
| Financial income | 75/76B | €4,265 | €6,145 | +€1,880 | +44.1% |
| Recurring financial income | 75 | €3,506 | €5,919 | +€2,413 | +68.8% |
| Non-recurring financial income | 76B | €759 | €226 | -€533 | -70.2% |
| Financial charges | 65/66B | €20,186 | €19,639 | -€546 | -2.7% |
| Recurring financial charges | 65 | €19,970 | €17,100 | -€2,870 | -14.4% |
| Non-recurring financial charges | 66B | €216 | €2,540 | +€2,323 | +1074.9% |
| Profit (loss) for the period before taxes | 9903 | €62,696 | €57,874 | -€4,822 | -7.7% |
| Income taxes | 67/77 | €21,506 | €12,536 | -€8,970 | -41.7% |
| Profit (loss) for the period | 9904 | €41,190 | €45,339 | +€4,149 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,190 | €45,339 | +€4,149 | +10.1% |
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.