SITAR: 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.
SITAR
Largest movements
- Stocks and contracts -€9,955
down €9,955 (-32.6%), from €30,513 to €20,558
- Cash +€9,573
up €9,573 (+85.4%), from €11,215 to €20,788
mainly Stocks and contracts (+€9,955) and Net result for the year (+€1,169)
- Receivables within one year +€541
up €541 (+11.0%), from €4,918 to €5,458
- Trade debts -€1,200
no longer reported in 2025 (was €1,200)
- Profit (loss) carried forward +€1,169
up €1,169 (+3.4%), from €34,488 to €35,657
- Gross operating margin +€5,248
up €5,248, from -€352 to €4,897
- Taxes +€2,221
up €2,221 (+673%), from €330 to €2,552
- Depreciation -€1,011
down €1,011 (-84.2%), from €1,200 to €190
- Financial charges +€277
new in 2025: €277
- Other operating charges +€205
up €205 (+40.8%), from €504 to €709
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 | €46,835 | €46,804 | -€31 | -0.1% |
| Fixed assets | 21/28 | €190 | - | -€190 | |
| Tangible fixed assets | 22/27 | €190 | - | -€190 | |
| Plant, machinery and equipment | 23 | €190 | - | -€190 | |
| Current assets | 29/58 | €46,645 | €46,804 | +€159 | +0.3% |
| Stocks and contracts in progress | 3 | €30,513 | €20,558 | -€9,955 | -32.6% |
| Stocks | 30/36 | €30,513 | €20,558 | -€9,955 | -32.6% |
| Amounts receivable within one year | 40/41 | €4,918 | €5,458 | +€541 | +11.0% |
| Other amounts receivable | 41 | €4,918 | €5,458 | +€541 | +11.0% |
| Cash at bank and in hand | 54/58 | €11,215 | €20,788 | +€9,573 | +85.4% |
| Total equity and liabilities | 10/49 | €46,835 | €46,804 | -€31 | -0.1% |
| Equity | 10/15 | €45,635 | €46,804 | +€1,169 | +2.6% |
| Contributions | 10/11 | €8,592 | €8,592 | = | 0.0% |
| Capital | 10 | - | €8,592 | +€8,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Uncalled capital | 101 | - | €10,000 | +€10,000 | |
| Reserves | 13 | €2,555 | €2,555 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €695 | €695 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,488 | €35,657 | +€1,169 | +3.4% |
| Amounts payable | 17/49 | €1,200 | - | -€1,200 | |
| Amounts payable within one year | 42/48 | €1,200 | - | -€1,200 | |
| Trade debts | 44 | €1,200 | - | -€1,200 | |
| Suppliers | 440/4 | €1,200 | - | -€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,200 | €190 | -€1,011 | -84.2% |
| Other operating charges | 640/8 | €504 | €709 | +€205 | +40.8% |
| Gross operating margin | 9900 | -€352 | €4,897 | +€5,248 | |
| Operating profit (loss) | 9901 | -€2,056 | €3,997 | +€6,053 | |
| Financial charges | 65/66B | - | €277 | +€277 | |
| Recurring financial charges | 65 | - | €277 | +€277 | |
| Profit (loss) for the period before taxes | 9903 | -€2,056 | €3,721 | +€5,776 | |
| Income taxes | 67/77 | €330 | €2,552 | +€2,221 | +673% |
| Profit (loss) for the period | 9904 | -€2,386 | €1,169 | +€3,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,386 | €1,169 | +€3,555 |
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 15 October 2026 via checked.be.