SIROS: 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.
SIROS
Largest movements
- Receivables after one year -€113,866
down €113,866 (-100.0%), from €113,866 to €0
- Cash +€104,818
up €104,818 (+127.5%), from €82,241 to €187,059
mainly Receivables after one year (+€113,866) and Net result for the year (+€62,828)
- Receivables within one year -€39,414
down €39,414 (-39.5%), from €99,779 to €60,364
of which Trade receivables: -€27,459
- Tangible fixed assets -€36,518
down €36,518 (-7.8%), from €466,119 to €429,602
of which Land and buildings: -€32,958
- Other debts -€60,733
down €60,733 (-34.6%), from €175,617 to €114,883
- Debts after one year -€29,050
down €29,050 (-7.9%), from €369,891 to €340,841
- Current portion of long-term debt -€12,959
down €12,959 (-27.5%), from €47,063 to €34,104
- Short-term financial debts +€9,117
up €9,117 (+111.0%), from €8,216 to €17,333
- Gross operating margin +€10,912
up €10,912 (+8.5%), from €128,557 to €139,469
- Financial charges -€4,608
down €4,608 (-15.8%), from €29,128 to €24,520
- Taxes +€3,445
up €3,445 (+25.8%), from €13,328 to €16,773
- Depreciation -€2,811
down €2,811 (-6.9%), from €40,814 to €38,002
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 | €766,106 | €683,160 | -€82,947 | -10.8% |
| Fixed assets | 21/28 | €466,119 | €429,602 | -€36,518 | -7.8% |
| Tangible fixed assets | 22/27 | €466,119 | €429,602 | -€36,518 | -7.8% |
| Land and buildings | 22 | €455,875 | €422,917 | -€32,958 | -7.2% |
| Plant, machinery and equipment | 23 | €2,823 | €2,202 | -€621 | -22.0% |
| Furniture and vehicles | 24 | €7,421 | €4,482 | -€2,939 | -39.6% |
| Current assets | 29/58 | €299,987 | €253,558 | -€46,429 | -15.5% |
| Amounts receivable after more than one year | 29 | €113,866 | €0 | -€113,866 | -100.0% |
| Other amounts receivable | 291 | €113,866 | €0 | -€113,866 | -100.0% |
| Amounts receivable within one year | 40/41 | €99,779 | €60,364 | -€39,414 | -39.5% |
| Trade receivables | 40 | €57,925 | €30,466 | -€27,459 | -47.4% |
| Other amounts receivable | 41 | €41,853 | €29,898 | -€11,955 | -28.6% |
| Cash at bank and in hand | 54/58 | €82,241 | €187,059 | +€104,818 | +127.5% |
| Deferred charges and accrued income | 490/1 | €4,101 | €6,135 | +€2,034 | +49.6% |
| Total equity and liabilities | 10/49 | €766,106 | €683,160 | -€82,947 | -10.8% |
| Equity | 10/15 | €128,013 | €128,841 | +€828 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,413 | €110,241 | +€828 | +0.8% |
| Non-distributable reserves | 130/1 | €1,405 | €1,405 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,405 | €1,405 | = | 0.0% |
| Distributable reserves | 133 | €108,008 | €108,836 | +€828 | +0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €638,093 | €554,319 | -€83,775 | -13.1% |
| Amounts payable after more than one year | 17 | €369,891 | €340,841 | -€29,050 | -7.9% |
| Financial debts | 170/4 | €369,891 | €340,841 | -€29,050 | -7.9% |
| Amounts payable within one year | 42/48 | €268,202 | €206,470 | -€61,732 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €47,063 | €34,104 | -€12,959 | -27.5% |
| Financial debts | 43 | €8,216 | €17,333 | +€9,117 | +111.0% |
| Credit institutions | 430/8 | €8,216 | €17,333 | +€9,117 | +111.0% |
| Trade debts | 44 | €5,556 | €9,419 | +€3,863 | +69.5% |
| Suppliers | 440/4 | €5,556 | €9,419 | +€3,863 | +69.5% |
| Taxes, remuneration and social security | 45 | €31,750 | €30,730 | -€1,019 | -3.2% |
| Taxes | 450/3 | €28,610 | €30,730 | +€2,120 | +7.4% |
| Remuneration and social security | 454/9 | €3,140 | €0 | -€3,140 | -100.0% |
| Other amounts payable | 47/48 | €175,617 | €114,883 | -€60,733 | -34.6% |
| Accrued charges and deferred income | 492/3 | - | €7,008 | +€7,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,814 | €38,002 | -€2,811 | -6.9% |
| Other operating charges | 640/8 | €3,734 | €3,686 | -€48 | -1.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €128,557 | €139,469 | +€10,912 | +8.5% |
| Operating profit (loss) | 9901 | €84,009 | €97,781 | +€13,771 | +16.4% |
| Financial income | 75/76B | €5,709 | €6,341 | +€632 | +11.1% |
| Recurring financial income | 75 | €5,709 | €6,341 | +€632 | +11.1% |
| Financial charges | 65/66B | €29,128 | €24,520 | -€4,608 | -15.8% |
| Recurring financial charges | 65 | €29,128 | €24,520 | -€4,608 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €60,591 | €79,601 | +€19,011 | +31.4% |
| Income taxes | 67/77 | €13,328 | €16,773 | +€3,445 | +25.8% |
| Profit (loss) for the period | 9904 | €47,262 | €62,828 | +€15,566 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,262 | €62,828 | +€15,566 | +32.9% |
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 7 October 2026 via checked.be.