SISTEM: 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.
SISTEM
Largest movements
- Stocks and contracts +€94,250
up €94,250 (+51.3%), from €183,596 to €277,846
- Cash -€69,085
down €69,085 (-52.1%), from €132,712 to €63,626
mainly Stocks and contracts (-€94,250) and Other debts (-€90,000)
- Current investments +€39,500
new in 2025: €39,500
- Tangible fixed assets -€7,908
down €7,908 (-16.2%), from €48,866 to €40,958
of which Furniture and vehicles: -€11,330
- Receivables within one year -€5,582
down €5,582 (-8.9%), from €62,844 to €57,262
of which Other amounts receivable: -€8,904
- Trade debts +€96,027
up €96,027 (+140%), from €68,725 to €164,752
- Other debts -€90,000
down €90,000 (-78.3%), from €114,975 to €24,975
- Reserves +€62,119
up €62,119 (+37.6%), from €165,277 to €227,396
- Debts after one year -€14,318
down €14,318 (-54.3%), from €26,358 to €12,040
- Taxes +€1,619
up €1,619 (+9.2%), from €17,509 to €19,128
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 | €428,017 | €480,504 | +€52,488 | +12.3% |
| Fixed assets | 21/28 | €48,866 | €40,958 | -€7,908 | -16.2% |
| Tangible fixed assets | 22/27 | €48,866 | €40,958 | -€7,908 | -16.2% |
| Plant, machinery and equipment | 23 | - | €4,366 | +€4,366 | |
| Furniture and vehicles | 24 | €41,091 | €29,762 | -€11,330 | -27.6% |
| Other tangible fixed assets | 26 | €7,774 | €6,831 | -€944 | -12.1% |
| Current assets | 29/58 | €379,151 | €439,546 | +€60,395 | +15.9% |
| Stocks and contracts in progress | 3 | €183,596 | €277,846 | +€94,250 | +51.3% |
| Stocks | 30/36 | €183,596 | €277,846 | +€94,250 | +51.3% |
| Amounts receivable within one year | 40/41 | €62,844 | €57,262 | -€5,582 | -8.9% |
| Trade receivables | 40 | €47,127 | €50,449 | +€3,322 | +7.1% |
| Other amounts receivable | 41 | €15,717 | €6,813 | -€8,904 | -56.7% |
| Current investments | 50/53 | - | €39,500 | +€39,500 | |
| Cash at bank and in hand | 54/58 | €132,712 | €63,626 | -€69,085 | -52.1% |
| Deferred charges and accrued income | 490/1 | - | €1,312 | +€1,312 | |
| Total equity and liabilities | 10/49 | €428,017 | €480,504 | +€52,488 | +12.3% |
| Equity | 10/15 | €168,277 | €230,396 | +€62,119 | +36.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €165,277 | €227,396 | +€62,119 | +37.6% |
| Distributable reserves | 133 | €165,277 | €227,396 | +€62,119 | +37.6% |
| Amounts payable | 17/49 | €259,740 | €250,108 | -€9,631 | -3.7% |
| Amounts payable after more than one year | 17 | €26,358 | €12,040 | -€14,318 | -54.3% |
| Financial debts | 170/4 | €26,358 | €12,040 | -€14,318 | -54.3% |
| Amounts payable within one year | 42/48 | €233,382 | €238,068 | +€4,686 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €14,177 | €14,318 | +€141 | +1.0% |
| Trade debts | 44 | €68,725 | €164,752 | +€96,027 | +140% |
| Suppliers | 440/4 | €68,725 | €164,752 | +€96,027 | +140% |
| Taxes, remuneration and social security | 45 | €35,505 | €34,023 | -€1,481 | -4.2% |
| Taxes | 450/3 | €33,665 | €32,183 | -€1,481 | -4.4% |
| Remuneration and social security | 454/9 | €1,840 | €1,840 | = | 0.0% |
| Other amounts payable | 47/48 | €114,975 | €24,975 | -€90,000 | -78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,005 | €16,397 | +€392 | +2.4% |
| Other operating charges | 640/8 | €987 | €1,597 | +€609 | +61.7% |
| Gross operating margin | 9900 | €99,662 | €99,233 | -€429 | -0.4% |
| Operating profit (loss) | 9901 | €82,670 | €81,240 | -€1,430 | -1.7% |
| Financial income | 75/76B | €23 | €562 | +€539 | +2,327% |
| Recurring financial income | 75 | €23 | €562 | +€539 | +2,327% |
| Financial charges | 65/66B | €599 | €556 | -€43 | -7.2% |
| Recurring financial charges | 65 | €599 | €556 | -€43 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €82,094 | €81,246 | -€847 | -1.0% |
| Income taxes | 67/77 | €17,509 | €19,128 | +€1,619 | +9.2% |
| Profit (loss) for the period | 9904 | €64,585 | €62,119 | -€2,466 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €64,585 | €62,119 | -€2,466 | -3.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.