SITAR: what changed
Two fiscal 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
- Cash -€39,191
down €39,191 (-20.9%), from €187,829 to €148,638
mainly Contributions, distributions and other (-€55,486) and Net result for the year (-€46,479)
- Receivables within one year -€15,819
down €15,819 (-34.3%), from €46,069 to €30,250
of which Trade receivables: -€32,252
- Receivables after one year -€12,154
down €12,154 (-52.3%), from €23,232 to €11,078
- Profit (loss) carried forward -€101,965
down €101,965 (-43.7%), from €233,439 to €131,474
- Other debts +€38,841
new in 2026: €38,841
- Trade debts -€12,884
down €12,884 (-93.1%), from €13,834 to €950
- Tax, wage and social debts +€7,431
up €7,431 (+68.5%), from €10,845 to €18,275
of which Taxes: +€11,626
- Gross operating margin -€78,145
down €78,145, from €35,117 to -€43,028
- Taxes -€5,008
down €5,008 (-71.3%), from €7,020 to €2,012
- Other operating charges -€1,966
down €1,966 (-52.7%), from €3,729 to €1,763
- Financial income -€1,567
down €1,567 (-69.0%), from €2,269 to €702
- Depreciation -€1,269
down €1,269 (-100.0%), from €1,269 to €0
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,352 | €212,774 | -€68,578 | -24.4% |
| Fixed assets | 21/28 | €22,312 | €22,312 | = | 0.0% |
| Tangible fixed assets | 22/27 | €22,237 | €22,237 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,315 | €1,315 | = | 0.0% |
| Furniture and vehicles | 24 | €20,922 | €20,922 | = | 0.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €259,039 | €190,462 | -€68,578 | -26.5% |
| Amounts receivable after more than one year | 29 | €23,232 | €11,078 | -€12,154 | -52.3% |
| Other amounts receivable | 291 | €23,232 | €11,078 | -€12,154 | -52.3% |
| Amounts receivable within one year | 40/41 | €46,069 | €30,250 | -€15,819 | -34.3% |
| Trade receivables | 40 | €32,826 | €574 | -€32,252 | -98.3% |
| Other amounts receivable | 41 | €13,244 | €29,676 | +€16,433 | +124.1% |
| Cash at bank and in hand | 54/58 | €187,829 | €148,638 | -€39,191 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,909 | €495 | -€1,414 | -74.0% |
| Total equity and liabilities | 10/49 | €281,352 | €212,774 | -€68,578 | -24.4% |
| Equity | 10/15 | €256,499 | €154,534 | -€101,965 | -39.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €233,439 | €131,474 | -€101,965 | -43.7% |
| Amounts payable | 17/49 | €24,852 | €58,240 | +€33,387 | +134.3% |
| Amounts payable within one year | 42/48 | €24,852 | €58,240 | +€33,387 | +134.3% |
| Financial debts | 43 | €174 | €174 | = | 0.0% |
| Credit institutions | 430/8 | €174 | €174 | = | 0.0% |
| Trade debts | 44 | €13,834 | €950 | -€12,884 | -93.1% |
| Suppliers | 440/4 | €13,834 | €950 | -€12,884 | -93.1% |
| Taxes, remuneration and social security | 45 | €10,845 | €18,275 | +€7,431 | +68.5% |
| Taxes | 450/3 | €5,020 | €16,646 | +€11,626 | +231.6% |
| Remuneration and social security | 454/9 | €5,825 | €1,629 | -€4,195 | -72.0% |
| Other amounts payable | 47/48 | - | €38,841 | +€38,841 | |
| Non-recurring operating income | 76A | - | €1,336 | +€1,336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,269 | €0 | -€1,269 | -100.0% |
| Other operating charges | 640/8 | €3,729 | €1,763 | -€1,966 | -52.7% |
| Gross operating margin | 9900 | €35,117 | -€43,028 | -€78,145 | |
| Operating profit (loss) | 9901 | €30,119 | -€44,791 | -€74,910 | |
| Financial income | 75/76B | €2,269 | €702 | -€1,567 | -69.0% |
| Recurring financial income | 75 | €2,269 | €702 | -€1,567 | -69.0% |
| Financial charges | 65/66B | €199 | €378 | +€178 | +89.6% |
| Recurring financial charges | 65 | €199 | €378 | +€178 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €32,189 | -€44,466 | -€76,655 | |
| Income taxes | 67/77 | €7,020 | €2,012 | -€5,008 | -71.3% |
| Profit (loss) for the period | 9904 | €25,169 | -€46,479 | -€71,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,169 | -€46,479 | -€71,648 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.