SITAC: 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.
SITAC
Largest movements
- Receivables within one year -€111,576
down €111,576 (-20.3%), from €549,504 to €437,928
of which Trade receivables: -€122,207
- Cash -€89,261
down €89,261 (-60.7%), from €147,001 to €57,740
mainly Trade debts (-€173,532) and Contributions, distributions and other (-€96,500)
- Receivables after one year -€80,000
down €80,000 (-100.0%), from €80,000 to €0
- Tangible fixed assets -€13,882
down €13,882 (-22.5%), from €61,692 to €47,809
of which Other tangible fixed assets: -€11,868
- Trade debts -€173,532
down €173,532 (-49.7%), from €348,939 to €175,407
- Reserves -€63,500
down €63,500 (-62.4%), from €101,720 to €38,220
of which Distributable reserves: -€63,500
- Other debts -€51,000
down €51,000 (-60.7%), from €84,000 to €33,000
- Tax, wage and social debts -€11,988
down €11,988 (-93.1%), from €12,879 to €891
- Financial income +€40,803
up €40,803 (+3723.6%), from €1,096 to €41,899
- Provisions +€19,143
up €19,143, from -€19,143 to €0
- Gross operating margin -€17,251
down €17,251 (-70.6%), from €24,447 to €7,196
- Other operating charges +€613
up €613 (+121.3%), from €505 to €1,118
- Taxes +€514
up €514 (+136.3%), from €377 to €891
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 | €843,517 | €543,477 | -€300,039 | -35.6% |
| Fixed assets | 21/28 | €61,692 | €47,809 | -€13,882 | -22.5% |
| Tangible fixed assets | 22/27 | €61,692 | €47,809 | -€13,882 | -22.5% |
| Plant, machinery and equipment | 23 | €1,839 | €1,528 | -€311 | -16.9% |
| Furniture and vehicles | 24 | €7,015 | €5,313 | -€1,703 | -24.3% |
| Other tangible fixed assets | 26 | €52,837 | €40,969 | -€11,868 | -22.5% |
| Current assets | 29/58 | €781,825 | €495,668 | -€286,157 | -36.6% |
| Amounts receivable after more than one year | 29 | €80,000 | €0 | -€80,000 | -100.0% |
| Other amounts receivable | 291 | €80,000 | €0 | -€80,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €549,504 | €437,928 | -€111,576 | -20.3% |
| Trade receivables | 40 | €548,331 | €426,124 | -€122,207 | -22.3% |
| Other amounts receivable | 41 | €1,173 | €11,804 | +€10,631 | +906.1% |
| Cash at bank and in hand | 54/58 | €147,001 | €57,740 | -€89,261 | -60.7% |
| Deferred charges and accrued income | 490/1 | €5,320 | €0 | -€5,320 | -100.0% |
| Total equity and liabilities | 10/49 | €843,517 | €543,477 | -€300,039 | -35.6% |
| Equity | 10/15 | €397,699 | €334,179 | -€63,520 | -16.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,720 | €38,220 | -€63,500 | -62.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €99,860 | €36,360 | -€63,500 | -63.6% |
| Profit (loss) carried forward | 14 | €289,779 | €289,759 | -€20 | 0.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €445,818 | €209,298 | -€236,520 | -53.1% |
| Amounts payable within one year | 42/48 | €445,818 | €209,298 | -€236,520 | -53.1% |
| Trade debts | 44 | €348,939 | €175,407 | -€173,532 | -49.7% |
| Suppliers | 440/4 | €348,939 | €175,407 | -€173,532 | -49.7% |
| Taxes, remuneration and social security | 45 | €12,879 | €891 | -€11,988 | -93.1% |
| Taxes | 450/3 | €12,879 | €891 | -€11,988 | -93.1% |
| Other amounts payable | 47/48 | €84,000 | €33,000 | -€51,000 | -60.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,396 | €13,882 | -€514 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€282 | €0 | +€282 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€19,143 | €0 | +€19,143 | |
| Other operating charges | 640/8 | €505 | €1,118 | +€613 | +121.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €24,447 | €7,196 | -€17,251 | -70.6% |
| Operating profit (loss) | 9901 | €28,971 | -€7,805 | -€36,775 | |
| Financial income | 75/76B | €1,096 | €41,899 | +€40,803 | +3723.6% |
| Recurring financial income | 75 | €1,096 | €41,899 | +€40,803 | +3723.6% |
| Financial charges | 65/66B | €315 | €223 | -€93 | -29.4% |
| Recurring financial charges | 65 | €315 | €223 | -€93 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €29,751 | €33,871 | +€4,120 | +13.8% |
| Income taxes | 67/77 | €377 | €891 | +€514 | +136.3% |
| Profit (loss) for the period | 9904 | €29,374 | €32,980 | +€3,606 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,374 | €32,980 | +€3,606 | +12.3% |
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 9 October 2026 via checked.be.