SITATUNGA: 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.
SITATUNGA
Largest movements
- Current investments +€81,896
new in 2025: €81,896
- Cash -€30,665
down €30,665 (-19.6%), from €156,225 to €125,560
mainly Current investments (-€81,896) and Investment in fixed assets (net) (-€1,999)
- Reserves +€45,509
up €45,509 (+28.4%), from €160,441 to €205,950
- Other debts +€5,444
up €5,444 (+39.2%), from €13,899 to €19,343
- Gross operating margin +€6,879
up €6,879 (+11.8%), from €58,276 to €65,155
- Taxes +€1,662
up €1,662 (+10.4%), from €15,987 to €17,649
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 | €186,750 | €239,482 | +€52,732 | +28.2% |
| Fixed assets | 21/28 | €427 | €1,948 | +€1,522 | +356.5% |
| Tangible fixed assets | 22/27 | €427 | €1,948 | +€1,522 | +356.5% |
| Plant, machinery and equipment | 23 | €427 | €1,948 | +€1,522 | +356.5% |
| Current assets | 29/58 | €186,324 | €237,534 | +€51,210 | +27.5% |
| Amounts receivable within one year | 40/41 | €26,257 | €26,251 | -€6 | 0.0% |
| Trade receivables | 40 | €24,745 | €26,251 | +€1,506 | +6.1% |
| Other amounts receivable | 41 | €1,513 | €0 | -€1,513 | -100.0% |
| Current investments | 50/53 | - | €81,896 | +€81,896 | |
| Cash at bank and in hand | 54/58 | €156,225 | €125,560 | -€30,665 | -19.6% |
| Deferred charges and accrued income | 490/1 | €3,841 | €3,827 | -€15 | -0.4% |
| Total equity and liabilities | 10/49 | €186,750 | €239,482 | +€52,732 | +28.2% |
| Equity | 10/15 | €166,641 | €212,150 | +€45,509 | +27.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €160,441 | €205,950 | +€45,509 | +28.4% |
| Distributable reserves | 133 | €160,441 | €205,950 | +€45,509 | +28.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,110 | €27,332 | +€7,223 | +35.9% |
| Amounts payable within one year | 42/48 | €20,110 | €27,332 | +€7,223 | +35.9% |
| Trade debts | 44 | - | €348 | +€348 | |
| Suppliers | 440/4 | - | €348 | +€348 | |
| Taxes, remuneration and social security | 45 | €6,211 | €7,642 | +€1,431 | +23.0% |
| Taxes | 450/3 | €6,211 | €7,642 | +€1,431 | +23.0% |
| Other amounts payable | 47/48 | €13,899 | €19,343 | +€5,444 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375 | €478 | +€103 | +27.3% |
| Other operating charges | 640/8 | €1,333 | €1,141 | -€193 | -14.4% |
| Gross operating margin | 9900 | €58,276 | €65,155 | +€6,879 | +11.8% |
| Operating profit (loss) | 9901 | €56,567 | €63,536 | +€6,969 | +12.3% |
| Financial charges | 65/66B | €260 | €378 | +€119 | +45.7% |
| Recurring financial charges | 65 | €260 | €275 | +€15 | +5.8% |
| Non-recurring financial charges | 66B | - | €104 | +€104 | |
| Profit (loss) for the period before taxes | 9903 | €56,307 | €63,158 | +€6,851 | +12.2% |
| Income taxes | 67/77 | €15,987 | €17,649 | +€1,662 | +10.4% |
| Profit (loss) for the period | 9904 | €40,320 | €45,509 | +€5,189 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,320 | €45,509 | +€5,189 | +12.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.