SIROCO: 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.
SIROCO
Largest movements
- Tangible fixed assets -€28,572
down €28,572 (-8.6%), from €332,687 to €304,115
of which Furniture and vehicles: -€36,763
- Stocks and contracts -€13,665
down €13,665 (-18.0%), from €75,917 to €62,252
- Deferred charges and accrued income +€9,678
new in 2025: €9,678
- Profit (loss) carried forward -€520,876
down €520,876, from €497,985 to -€22,891
- Reserves +€483,140
up €483,140 (+2865.7%), from €16,860 to €500,000
of which Non-distributable reserves: +€500,000
- Advances received +€80,714
new in 2025: €80,714
- Trade debts -€52,686
down €52,686 (-85.2%), from €61,846 to €9,160
- Tax, wage and social debts -€14,697
down €14,697 (-30.2%), from €48,696 to €33,999
of which Remuneration and social security: -€7,517
- Gross operating margin -€68,880
down €68,880 (-13.8%), from €497,584 to €428,704
- Other operating charges -€20,276
down €20,276 (-61.1%), from €33,206 to €12,931
- Write-downs -€18,478
no longer reported in 2025 (was €18,478)
- Taxes -€13,495
down €13,495, from €13,183 to -€312
- Staff costs +€11,540
up €11,540 (+2.9%), from €391,874 to €403,414
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 | €761,622 | €741,426 | -€20,196 | -2.7% |
| Fixed assets | 21/28 | €332,687 | €304,115 | -€28,572 | -8.6% |
| Tangible fixed assets | 22/27 | €332,687 | €304,115 | -€28,572 | -8.6% |
| Land and buildings | 22 | €183,372 | €172,051 | -€11,321 | -6.2% |
| Plant, machinery and equipment | 23 | €30,111 | €22,347 | -€7,765 | -25.8% |
| Furniture and vehicles | 24 | €117,804 | €81,041 | -€36,763 | -31.2% |
| Leasing and similar rights | 25 | €1,400 | €28,676 | +€27,277 | +1948.8% |
| Current assets | 29/58 | €428,935 | €437,311 | +€8,376 | +2.0% |
| Stocks and contracts in progress | 3 | €75,917 | €62,252 | -€13,665 | -18.0% |
| Stocks | 30/36 | €75,917 | €62,252 | -€13,665 | -18.0% |
| Amounts receivable within one year | 40/41 | €162,848 | €170,134 | +€7,286 | +4.5% |
| Trade receivables | 40 | €144,997 | €95,564 | -€49,434 | -34.1% |
| Other amounts receivable | 41 | €17,851 | €74,571 | +€56,720 | +317.7% |
| Cash at bank and in hand | 54/58 | €190,169 | €195,247 | +€5,077 | +2.7% |
| Deferred charges and accrued income | 490/1 | - | €9,678 | +€9,678 | |
| Total equity and liabilities | 10/49 | €761,622 | €741,426 | -€20,196 | -2.7% |
| Equity | 10/15 | €552,045 | €514,309 | -€37,736 | -6.8% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €16,860 | €500,000 | +€483,140 | +2865.7% |
| Non-distributable reserves | 130/1 | - | €500,000 | +€500,000 | |
| Financial assistance | 1313 | - | €500,000 | +€500,000 | |
| Distributable reserves | 133 | €16,860 | - | -€16,860 | |
| Profit (loss) carried forward | 14 | €497,985 | -€22,891 | -€520,876 | |
| Amounts payable | 17/49 | €209,577 | €227,117 | +€17,540 | +8.4% |
| Amounts payable after more than one year | 17 | €73,742 | €69,916 | -€3,826 | -5.2% |
| Financial debts | 170/4 | €73,742 | €69,916 | -€3,826 | -5.2% |
| Amounts payable within one year | 42/48 | €135,835 | €157,201 | +€21,366 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €25,269 | €33,328 | +€8,059 | +31.9% |
| Trade debts | 44 | €61,846 | €9,160 | -€52,686 | -85.2% |
| Suppliers | 440/4 | €61,846 | €9,160 | -€52,686 | -85.2% |
| Advances received on contracts in progress | 46 | - | €80,714 | +€80,714 | |
| Taxes, remuneration and social security | 45 | €48,696 | €33,999 | -€14,697 | -30.2% |
| Taxes | 450/3 | €20,051 | €12,870 | -€7,181 | -35.8% |
| Remuneration and social security | 454/9 | €28,645 | €21,129 | -€7,517 | -26.2% |
| Other amounts payable | 47/48 | €24 | - | -€24 | |
| Remuneration, social security and pensions | 62 | €391,874 | €403,414 | +€11,540 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,962 | €46,959 | +€2,997 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,478 | - | -€18,478 | |
| Other operating charges | 640/8 | €33,206 | €12,931 | -€20,276 | -61.1% |
| Gross operating margin | 9900 | €497,584 | €428,704 | -€68,880 | -13.8% |
| Operating profit (loss) | 9901 | €10,063 | -€34,599 | -€44,663 | |
| Financial income | 75/76B | €15,492 | €9,384 | -€6,109 | -39.4% |
| Recurring financial income | 75 | €15,492 | €5,804 | -€9,688 | -62.5% |
| Non-recurring financial income | 76B | - | €3,580 | +€3,580 | |
| Financial charges | 65/66B | €12,692 | €12,833 | +€141 | +1.1% |
| Recurring financial charges | 65 | €12,692 | €12,833 | +€141 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €12,864 | -€38,048 | -€50,913 | |
| Income taxes | 67/77 | €13,183 | -€312 | -€13,495 | |
| Profit (loss) for the period | 9904 | -€318 | -€37,736 | -€37,417 | -11750.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€318 | -€37,736 | -€37,417 | -11750.2% |
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 3 October 2026 via checked.be.