SIRTAINE: 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.
SIRTAINE
Largest movements
- Cash +€74,037
up €74,037 (+91.3%), from €81,073 to €155,110
mainly Net result for the year (+€137,895) and Depreciation (+€19,108)
- Receivables within one year +€42,192
up €42,192 (+60.4%), from €69,906 to €112,098
of which Trade receivables: +€33,205
- Tangible fixed assets -€19,108
down €19,108 (-3.2%), from €599,467 to €580,360
of which Land and buildings: -€16,000
- Profit (loss) carried forward +€137,895
up €137,895 (+103%), from €133,768 to €271,663
- Debts after one year -€21,998
down €21,998 (-3.9%), from €561,749 to €539,751
- Tax, wage and social debts -€15,981
down €15,981 (-100%), from €15,981 to €0
of which Taxes: -€11,862
- Depreciation -€81,616
down €81,616 (-81.0%), from €100,724 to €19,108
- Taxes +€17,943
up €17,943 (+74.7%), from €24,035 to €41,978
- Gross operating margin -€6,888
down €6,888 (-3.0%), from €231,825 to €224,937
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 | €750,696 | €848,937 | +€98,242 | +13.1% |
| Fixed assets | 21/28 | €599,467 | €580,360 | -€19,108 | -3.2% |
| Tangible fixed assets | 22/27 | €599,467 | €580,360 | -€19,108 | -3.2% |
| Land and buildings | 22 | €586,142 | €570,142 | -€16,000 | -2.7% |
| Furniture and vehicles | 24 | €13,325 | €10,218 | -€3,108 | -23.3% |
| Current assets | 29/58 | €151,228 | €268,577 | +€117,349 | +77.6% |
| Amounts receivable within one year | 40/41 | €69,906 | €112,098 | +€42,192 | +60.4% |
| Trade receivables | 40 | €69,906 | €103,111 | +€33,205 | +47.5% |
| Other amounts receivable | 41 | - | €8,987 | +€8,987 | |
| Cash at bank and in hand | 54/58 | €81,073 | €155,110 | +€74,037 | +91.3% |
| Deferred charges and accrued income | 490/1 | €250 | €1,370 | +€1,120 | +448% |
| Total equity and liabilities | 10/49 | €750,696 | €848,937 | +€98,242 | +13.1% |
| Equity | 10/15 | €136,768 | €274,663 | +€137,895 | +101% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,768 | €271,663 | +€137,895 | +103% |
| Amounts payable | 17/49 | €613,928 | €574,274 | -€39,654 | -6.5% |
| Amounts payable after more than one year | 17 | €561,749 | €539,751 | -€21,998 | -3.9% |
| Financial debts | 170/4 | €561,749 | €539,751 | -€21,998 | -3.9% |
| Amounts payable within one year | 42/48 | €48,082 | €32,703 | -€15,378 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €21,190 | €23,794 | +€2,605 | +12.3% |
| Trade debts | 44 | €1,541 | €1,289 | -€252 | -16.4% |
| Suppliers | 440/4 | €1,541 | €1,289 | -€252 | -16.4% |
| Taxes, remuneration and social security | 45 | €15,981 | €0 | -€15,981 | -100% |
| Taxes | 450/3 | €11,862 | €0 | -€11,862 | -100% |
| Remuneration and social security | 454/9 | €4,119 | €0 | -€4,119 | -100% |
| Other amounts payable | 47/48 | €9,370 | €7,621 | -€1,750 | -18.7% |
| Accrued charges and deferred income | 492/3 | €4,097 | €1,820 | -€2,277 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,724 | €19,108 | -€81,616 | -81.0% |
| Other operating charges | 640/8 | €1,793 | €2,475 | +€683 | +38.1% |
| Gross operating margin | 9900 | €231,825 | €224,937 | -€6,888 | -3.0% |
| Operating profit (loss) | 9901 | €129,309 | €203,354 | +€74,045 | +57.3% |
| Financial income | 75/76B | - | €77 | +€77 | |
| Recurring financial income | 75 | - | €77 | +€77 | |
| Financial charges | 65/66B | €21,430 | €23,558 | +€2,128 | +9.9% |
| Recurring financial charges | 65 | €21,430 | €23,558 | +€2,128 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €107,879 | €179,873 | +€71,995 | +66.7% |
| Income taxes | 67/77 | €24,035 | €41,978 | +€17,943 | +74.7% |
| Profit (loss) for the period | 9904 | €83,844 | €137,895 | +€54,052 | +64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,844 | €137,895 | +€54,052 | +64.5% |
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 31 October 2026 via checked.be.