Sisu Group: 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.
What changed
Sisu Group
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€175,511
2024 · -€336,615+€161,104
Equity
€8.8m
2024 · €8.9m-€175,511
Cash
€122,394
2024 · €220,808-€98,413
Balance sheet total
€26.6m
2024 · €19.5m+€7.1m
Largest movements
Assets
- Financial fixed assets +€3.2m
up €3.2m (+17.6%), from €18.4m to €21.6m
- Receivables within one year +€2.9m
up €2.9m (+296.9%), from €964,101 to €3.8m
of which Other amounts receivable: +€2.0m
- Intangible fixed assets +€414,307
new in 2025: €414,307
- Tangible fixed assets +€408,893
new in 2025: €408,893
of which Other tangible fixed assets: +€247,022
Equity and liabilities
- Other debts +€3.8m
up €3.8m (+354.8%), from €1.1m to €4.9m
- Short-term financial debts +€3.1m
new in 2025: €3.1m
- Tax, wage and social debts +€646,909
new in 2025: €646,909
of which Taxes: +€513,168
- Debts after one year -€552,811
down €552,811 (-6.7%), from €8.2m to €7.7m
of which Financial debts: -€650,000
Income statement
- Other operating income +€3.4m
up €3.4m (+14984.6%), from €22,470 to €3.4m
- Services and other goods +€2.0m
up €2.0m (+101.9%), from €2.0m to €4.0m
- Turnover +€739,467
up €739,467 (+33.9%), from €2.2m to €2.9m
- Staff costs +€693,855
new in 2025: €693,855
- Other operating charges +€607,856
up €607,856 (+1401.7%), from €43,366 to €651,221
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.
Result 2024
-€336,615
Turnover
+€739,467
Other operating income
+€3.4m
Goods and materials
-€285,338
Services and other goods
-€2.0m
Staff costs
-€693,855
Depreciation
-€107,779
Other operating charges
-€607,856
Other operating items
-€4,962
Financial income
-€30,942
Financial charges
-€186,176
Taxes
-€975
Result 2025
-€175,511
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.
From operations
+€1.5m
Investment
-€4.2m
Financing
+€2.5m
Cash 2024
€220,808
From operations (derived)
+€1.5m
Net result for the year
-€175,511
Depreciation
+€107,779
Receivables within one year
-€2.9m
Deferred charges and accrued income
-€240,246
Trade debts
+€194,896
Tax, wage and social debts
+€646,909
Other debts
+€3.8m
Accrued charges and deferred income
+€36,294
Investment (derived)
-€4.2m
Investment in fixed assets (net)
-€4.2m
Financing
+€2.5m
Debts after one year
-€552,811
Short-term financial debts
+€3.1m
Cash 2025
€122,394
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,549,297 | €26,608,128 | +€7.1m | +36.1% |
| Fixed assets | 21/28 | €18,364,388 | €22,418,572 | +€4.1m | +22.1% |
| Intangible fixed assets | 21 | - | €414,307 | +€414,307 | |
| Tangible fixed assets | 22/27 | - | €408,893 | +€408,893 | |
| Plant, machinery and equipment | 23 | - | €80,259 | +€80,259 | |
| Furniture and vehicles | 24 | - | €9,772 | +€9,772 | |
| Other tangible fixed assets | 26 | - | €247,022 | +€247,022 | |
| Assets under construction and advance payments | 27 | - | €71,840 | +€71,840 | |
| Financial fixed assets | 28 | €18,364,388 | €21,595,372 | +€3.2m | +17.6% |
| Affiliated companies | 280/1 | €18,364,388 | €21,595,372 | +€3.2m | +17.6% |
| Participating interests | 280 | €18,364,388 | €21,595,372 | +€3.2m | +17.6% |
| Current assets | 29/58 | €1,184,909 | €4,189,557 | +€3.0m | +253.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €964,101 | €3,826,917 | +€2.9m | +296.9% |
| Trade receivables | 40 | €309,274 | €1,176,386 | +€867,112 | +280.4% |
| Other amounts receivable | 41 | €654,827 | €2,650,531 | +€2.0m | +304.8% |
| Cash at bank and in hand | 54/58 | €220,808 | €122,394 | -€98,413 | -44.6% |
| Deferred charges and accrued income | 490/1 | - | €240,246 | +€240,246 | |
| Total equity and liabilities | 10/49 | €19,549,297 | €26,608,128 | +€7.1m | +36.1% |
| Equity | 10/15 | €8,927,102 | €8,751,591 | -€175,511 | -2.0% |
| Contributions | 10/11 | €9,835,000 | €9,835,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€907,898 | -€1,083,409 | -€175,511 | -19.3% |
| Amounts payable | 17/49 | €10,622,195 | €17,856,537 | +€7.2m | +68.1% |
| Amounts payable after more than one year | 17 | €8,246,369 | €7,693,558 | -€552,811 | -6.7% |
| Financial debts | 170/4 | €4,000,000 | €3,350,000 | -€650,000 | -16.3% |
| Credit institutions | 173 | €4,000,000 | €3,350,000 | -€650,000 | -16.3% |
| Other amounts payable | 178/9 | €4,246,369 | €4,343,558 | +€97,189 | +2.3% |
| Amounts payable within one year | 42/48 | €2,182,525 | €9,933,384 | +€7.8m | +355.1% |
| Current portion of amounts payable after more than one year | 42 | €650,000 | €650,000 | = | 0.0% |
| Financial debts | 43 | - | €3,100,000 | +€3.1m | |
| Credit institutions | 430/8 | - | €3,100,000 | +€3.1m | |
| Trade debts | 44 | €458,813 | €653,709 | +€194,896 | +42.5% |
| Suppliers | 440/4 | €458,813 | €653,709 | +€194,896 | +42.5% |
| Taxes, remuneration and social security | 45 | - | €646,909 | +€646,909 | |
| Taxes | 450/3 | - | €513,168 | +€513,168 | |
| Remuneration and social security | 454/9 | - | €133,741 | +€133,741 | |
| Other amounts payable | 47/48 | €1,073,712 | €4,882,766 | +€3.8m | +354.8% |
| Accrued charges and deferred income | 492/3 | €193,301 | €229,595 | +€36,294 | +18.8% |
| Operating income | 70/76A | €2,206,028 | €6,312,143 | +€4.1m | +186.1% |
| Turnover | 70 | €2,183,120 | €2,922,587 | +€739,467 | +33.9% |
| Other operating income | 74 | €22,470 | €3,389,555 | +€3.4m | +14984.6% |
| Non-recurring operating income | 76A | €438 | €0 | -€438 | -100.0% |
| Operating charges | 60/66A | €2,033,692 | €5,760,610 | +€3.7m | +183.3% |
| Goods for resale, raw materials and consumables | 60 | - | €285,338 | +€285,338 | |
| Purchases | 600/8 | - | €285,338 | +€285,338 | |
| Services and other goods | 61 | €1,990,326 | €4,017,893 | +€2.0m | +101.9% |
| Remuneration, social security and pensions | 62 | - | €693,855 | +€693,855 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €107,779 | +€107,779 | |
| Other operating charges | 640/8 | €43,366 | €651,221 | +€607,856 | +1401.7% |
| Non-recurring operating charges | 66A | - | €4,524 | +€4,524 | |
| Operating profit (loss) | 9901 | €172,336 | €551,533 | +€379,196 | +220.0% |
| Financial income | 75/76B | €115,933 | €84,992 | -€30,942 | -26.7% |
| Recurring financial income | 75 | €115,933 | €84,992 | -€30,942 | -26.7% |
| Income from current assets | 751 | €5,498 | €57,310 | +€51,812 | +942.4% |
| Other financial income | 752/9 | €110,435 | €27,682 | -€82,753 | -74.9% |
| Financial charges | 65/66B | €624,885 | €811,061 | +€186,176 | +29.8% |
| Recurring financial charges | 65 | €624,885 | €811,061 | +€186,176 | +29.8% |
| Debt charges | 650 | €623,563 | €807,858 | +€184,295 | +29.6% |
| Other financial charges | 652/9 | €1,322 | €3,203 | +€1,881 | +142.3% |
| Profit (loss) for the period before taxes | 9903 | -€336,615 | -€174,536 | +€162,079 | +48.1% |
| Income taxes | 67/77 | - | €975 | +€975 | |
| Taxes | 670/3 | - | €975 | +€975 | |
| Profit (loss) for the period | 9904 | -€336,615 | -€175,511 | +€161,104 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€336,615 | -€175,511 | +€161,104 | +47.9% |
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 12 October 2026 via checked.be.