SISU: 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.
SISU
Largest movements
- Receivables within one year -€52,563
down €52,563 (-36.7%), from €143,271 to €90,708
of which Trade receivables: -€90,310
- Deferred charges and accrued income +€35,876
up €35,876 (+66,635%), from €54 to €35,930
- Cash -€35,756
down €35,756 (-70.0%), from €51,045 to €15,289
mainly Investment in fixed assets (net) (-€101,928) and Debts after one year (-€73,859)
- Tangible fixed assets +€20,141
up €20,141 (+1.5%), from €1.4m to €1.4m
of which Plant, machinery and equipment: +€16,814
- Debts after one year -€73,859
down €73,859 (-7.8%), from €950,625 to €876,765
- Profit (loss) carried forward +€45,934
up €45,934 (+54.5%), from €84,260 to €130,194
- Trade debts +€22,225
up €22,225 (+77.0%), from €28,852 to €51,077
- Other debts -€16,735
down €16,735 (-84.4%), from €19,832 to €3,097
- Depreciation +€57,019
up €57,019 (+393%), from €14,507 to €71,526
- Gross operating margin -€12,566
down €12,566 (-8.3%), from €151,708 to €139,142
- Financial charges +€3,113
up €3,113 (+18.1%), from €17,158 to €20,271
- Financial income -€1,847
down €1,847 (-99.6%), from €1,855 to €8
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 | €1,582,034 | €1,559,992 | -€22,041 | -1.4% |
| Fixed assets | 21/28 | €1,387,664 | €1,418,066 | +€30,402 | +2.2% |
| Intangible fixed assets | 21 | - | €10,261 | +€10,261 | |
| Tangible fixed assets | 22/27 | €1,387,664 | €1,407,805 | +€20,141 | +1.5% |
| Land and buildings | 22 | €1,350,255 | €1,350,589 | +€334 | 0.0% |
| Plant, machinery and equipment | 23 | €33,501 | €50,315 | +€16,814 | +50.2% |
| Furniture and vehicles | 24 | €3,907 | €6,900 | +€2,993 | +76.6% |
| Current assets | 29/58 | €194,370 | €141,927 | -€52,443 | -27.0% |
| Amounts receivable within one year | 40/41 | €143,271 | €90,708 | -€52,563 | -36.7% |
| Trade receivables | 40 | €142,983 | €52,672 | -€90,310 | -63.2% |
| Other amounts receivable | 41 | €288 | €38,036 | +€37,747 | +13,089% |
| Cash at bank and in hand | 54/58 | €51,045 | €15,289 | -€35,756 | -70.0% |
| Deferred charges and accrued income | 490/1 | €54 | €35,930 | +€35,876 | +66,635% |
| Total equity and liabilities | 10/49 | €1,582,034 | €1,559,992 | -€22,041 | -1.4% |
| Equity | 10/15 | €509,260 | €555,194 | +€45,934 | +9.0% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,260 | €130,194 | +€45,934 | +54.5% |
| Amounts payable | 17/49 | €1,072,773 | €1,004,799 | -€67,975 | -6.3% |
| Amounts payable after more than one year | 17 | €950,625 | €876,765 | -€73,859 | -7.8% |
| Financial debts | 170/4 | €950,625 | €876,765 | -€73,859 | -7.8% |
| Amounts payable within one year | 42/48 | €122,149 | €128,033 | +€5,885 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €72,507 | €73,859 | +€1,352 | +1.9% |
| Trade debts | 44 | €28,852 | €51,077 | +€22,225 | +77.0% |
| Suppliers | 440/4 | €28,852 | €51,077 | +€22,225 | +77.0% |
| Taxes, remuneration and social security | 45 | €958 | €0 | -€958 | -100% |
| Taxes | 450/3 | €958 | €0 | -€958 | -100% |
| Other amounts payable | 47/48 | €19,832 | €3,097 | -€16,735 | -84.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,507 | €71,526 | +€57,019 | +393% |
| Other operating charges | 640/8 | €949 | €1,420 | +€471 | +49.6% |
| Gross operating margin | 9900 | €151,708 | €139,142 | -€12,566 | -8.3% |
| Operating profit (loss) | 9901 | €136,252 | €66,196 | -€70,056 | -51.4% |
| Financial income | 75/76B | €1,855 | €8 | -€1,847 | -99.6% |
| Recurring financial income | 75 | €1,855 | €8 | -€1,847 | -99.6% |
| Financial charges | 65/66B | €17,158 | €20,271 | +€3,113 | +18.1% |
| Recurring financial charges | 65 | €17,158 | €20,271 | +€3,113 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €120,949 | €45,934 | -€75,015 | -62.0% |
| Profit (loss) for the period | 9904 | €120,949 | €45,934 | -€75,015 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,949 | €45,934 | -€75,015 | -62.0% |
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 13 October 2026 via checked.be.