SITALVINI: 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.
SITALVINI
Largest movements
- Cash -€84,172
down €84,172 (-24.9%), from €338,610 to €254,438
mainly Contributions, distributions and other (-€385,773) and Trade debts (-€64,618)
- Receivables within one year -€57,536
down €57,536 (-20.1%), from €285,886 to €228,350
of which Trade receivables: -€95,505
- Tangible fixed assets -€56,082
down €56,082 (-14.8%), from €377,790 to €321,708
- Reserves -€288,144
down €288,144 (-37.0%), from €779,724 to €491,579
of which Distributable reserves: -€288,144
- Other debts +€271,235
up €271,235 (+215%), from €126,308 to €397,543
- Trade debts -€64,618
down €64,618 (-67.4%), from €95,914 to €31,297
- Debts after one year -€44,191
down €44,191 (-57.9%), from €76,366 to €32,175
- Current portion of long-term debt -€31,593
down €31,593 (-37.8%), from €83,570 to €51,977
- Depreciation +€57,511
new in 2025: €57,511
- Gross operating margin -€42,607
down €42,607 (-10.1%), from €421,715 to €379,107
- Taxes -€23,596
down €23,596 (-35.4%), from €66,583 to €42,986
- Other operating charges -€19,670
down €19,670 (-12.2%), from €161,341 to €141,671
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 | €1,391,007 | €1,204,342 | -€186,666 | -13.4% |
| Fixed assets | 21/28 | €378,703 | €322,621 | -€56,082 | -14.8% |
| Tangible fixed assets | 22/27 | €377,790 | €321,708 | -€56,082 | -14.8% |
| Land and buildings | 22 | €278,831 | €253,288 | -€25,543 | -9.2% |
| Plant, machinery and equipment | 23 | €21,751 | €15,537 | -€6,213 | -28.6% |
| Furniture and vehicles | 24 | €77,208 | €52,883 | -€24,325 | -31.5% |
| Financial fixed assets | 28 | €913 | €913 | = | 0.0% |
| Current assets | 29/58 | €1,012,305 | €881,721 | -€130,584 | -12.9% |
| Stocks and contracts in progress | 3 | €387,809 | €398,933 | +€11,124 | +2.9% |
| Stocks | 30/36 | €387,809 | €398,933 | +€11,124 | +2.9% |
| Amounts receivable within one year | 40/41 | €285,886 | €228,350 | -€57,536 | -20.1% |
| Trade receivables | 40 | €271,480 | €175,975 | -€95,505 | -35.2% |
| Other amounts receivable | 41 | €14,406 | €52,375 | +€37,969 | +264% |
| Cash at bank and in hand | 54/58 | €338,610 | €254,438 | -€84,172 | -24.9% |
| Total equity and liabilities | 10/49 | €1,391,007 | €1,204,342 | -€186,666 | -13.4% |
| Equity | 10/15 | €967,455 | €679,310 | -€288,144 | -29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €779,724 | €491,579 | -€288,144 | -37.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,029 | €69,029 | = | 0.0% |
| Distributable reserves | 133 | €708,835 | €420,690 | -€288,144 | -40.7% |
| Profit (loss) carried forward | 14 | €169,131 | €169,131 | = | 0.0% |
| Amounts payable | 17/49 | €423,553 | €525,031 | +€101,479 | +24.0% |
| Amounts payable after more than one year | 17 | €76,366 | €32,175 | -€44,191 | -57.9% |
| Financial debts | 170/4 | €76,366 | €32,175 | -€44,191 | -57.9% |
| Amounts payable within one year | 42/48 | €347,187 | €492,857 | +€145,669 | +42.0% |
| Current portion of amounts payable after more than one year | 42 | €83,570 | €51,977 | -€31,593 | -37.8% |
| Financial debts | 43 | €132 | €468 | +€336 | +253% |
| Credit institutions | 430/8 | €132 | €468 | +€336 | +253% |
| Trade debts | 44 | €95,914 | €31,297 | -€64,618 | -67.4% |
| Suppliers | 440/4 | €95,914 | €31,297 | -€64,618 | -67.4% |
| Taxes, remuneration and social security | 45 | €41,263 | €11,573 | -€29,690 | -72.0% |
| Taxes | 450/3 | €34,179 | €7,869 | -€26,310 | -77.0% |
| Remuneration and social security | 454/9 | €7,084 | €3,703 | -€3,380 | -47.7% |
| Other amounts payable | 47/48 | €126,308 | €397,543 | +€271,235 | +215% |
| Remuneration, social security and pensions | 62 | €40,214 | €37,818 | -€2,396 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €57,511 | +€57,511 | |
| Other operating charges | 640/8 | €161,341 | €141,671 | -€19,670 | -12.2% |
| Gross operating margin | 9900 | €421,715 | €379,107 | -€42,607 | -10.1% |
| Operating profit (loss) | 9901 | €220,160 | €142,108 | -€78,053 | -35.5% |
| Financial income | 75/76B | €2,384 | €3,294 | +€911 | +38.2% |
| Recurring financial income | 75 | €2,384 | €3,294 | +€911 | +38.2% |
| Financial charges | 65/66B | €6,988 | €4,788 | -€2,200 | -31.5% |
| Recurring financial charges | 65 | €6,988 | €4,788 | -€2,200 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €215,556 | €140,614 | -€74,942 | -34.8% |
| Income taxes | 67/77 | €66,583 | €42,986 | -€23,596 | -35.4% |
| Profit (loss) for the period | 9904 | €148,974 | €97,628 | -€51,346 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,974 | €97,628 | -€51,346 | -34.5% |
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 28 October 2026 via checked.be.