SITIPAC: 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.
SITIPAC
Largest movements
- Cash +€54,330
up €54,330 (+59.4%), from €91,389 to €145,719
mainly Other debts (+€55,742) and Receivables within one year (+€43,964)
- Receivables within one year -€43,964
down €43,964 (-42.0%), from €104,587 to €60,622
of which Trade receivables: -€56,782
- Stocks and contracts +€25,027
up €25,027 (+32.5%), from €76,984 to €102,011
- Tangible fixed assets -€4,457
down €4,457 (-7.4%), from €60,329 to €55,872
of which Land and buildings: -€2,598
- Other debts +€55,742
up €55,742 (+419.6%), from €13,285 to €69,026
- Reserves -€55,596
down €55,596 (-47.0%), from €118,255 to €62,659
- Trade debts +€34,053
up €34,053 (+22.6%), from €150,616 to €184,669
- Debts after one year -€3,892
down €3,892 (-66.3%), from €5,867 to €1,975
- Gross operating margin -€47,660
down €47,660 (-66.1%), from €72,048 to €24,389
- Taxes -€16,618
down €16,618 (-94.9%), from €17,507 to €889
- Other operating charges +€8,014
up €8,014 (+157.7%), from €5,080 to €13,094
- Depreciation -€787
down €787 (-6.9%), from €11,357 to €10,571
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 | €333,744 | €365,481 | +€31,737 | +9.5% |
| Fixed assets | 21/28 | €60,692 | €56,235 | -€4,457 | -7.3% |
| Tangible fixed assets | 22/27 | €60,329 | €55,872 | -€4,457 | -7.4% |
| Land and buildings | 22 | €28,478 | €25,880 | -€2,598 | -9.1% |
| Plant, machinery and equipment | 23 | €8,150 | €10,555 | +€2,405 | +29.5% |
| Furniture and vehicles | 24 | €10,059 | €7,620 | -€2,439 | -24.2% |
| Other tangible fixed assets | 26 | €13,643 | €11,817 | -€1,825 | -13.4% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €273,051 | €309,246 | +€36,195 | +13.3% |
| Stocks and contracts in progress | 3 | €76,984 | €102,011 | +€25,027 | +32.5% |
| Stocks | 30/36 | €76,984 | €102,011 | +€25,027 | +32.5% |
| Amounts receivable within one year | 40/41 | €104,587 | €60,622 | -€43,964 | -42.0% |
| Trade receivables | 40 | €100,166 | €43,384 | -€56,782 | -56.7% |
| Other amounts receivable | 41 | €4,421 | €17,238 | +€12,818 | +289.9% |
| Cash at bank and in hand | 54/58 | €91,389 | €145,719 | +€54,330 | +59.4% |
| Deferred charges and accrued income | 490/1 | €91 | €893 | +€802 | +883.1% |
| Total equity and liabilities | 10/49 | €333,744 | €365,481 | +€31,737 | +9.5% |
| Equity | 10/15 | €143,255 | €89,607 | -€53,648 | -37.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €118,255 | €62,659 | -€55,596 | -47.0% |
| Distributable reserves | 133 | €118,255 | €62,659 | -€55,596 | -47.0% |
| Profit (loss) carried forward | 14 | - | €1,948 | +€1,948 | |
| Amounts payable | 17/49 | €190,489 | €275,874 | +€85,385 | +44.8% |
| Amounts payable after more than one year | 17 | €5,867 | €1,975 | -€3,892 | -66.3% |
| Financial debts | 170/4 | €5,867 | €1,975 | -€3,892 | -66.3% |
| Amounts payable within one year | 42/48 | €184,622 | €273,899 | +€89,277 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €3,816 | €3,892 | +€76 | +2.0% |
| Trade debts | 44 | €150,616 | €184,669 | +€34,053 | +22.6% |
| Suppliers | 440/4 | €150,616 | €184,669 | +€34,053 | +22.6% |
| Taxes, remuneration and social security | 45 | €16,905 | €16,312 | -€593 | -3.5% |
| Taxes | 450/3 | €16,905 | €16,312 | -€593 | -3.5% |
| Other amounts payable | 47/48 | €13,285 | €69,026 | +€55,742 | +419.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,357 | €10,571 | -€787 | -6.9% |
| Other operating charges | 640/8 | €5,080 | €13,094 | +€8,014 | +157.7% |
| Gross operating margin | 9900 | €72,048 | €24,389 | -€47,660 | -66.1% |
| Operating profit (loss) | 9901 | €55,611 | €724 | -€54,887 | -98.7% |
| Financial income | 75/76B | €5,091 | €5,120 | +€28 | +0.6% |
| Recurring financial income | 75 | €5,091 | €5,120 | +€28 | +0.6% |
| Financial charges | 65/66B | €3,382 | €3,006 | -€376 | -11.1% |
| Recurring financial charges | 65 | €3,382 | €3,006 | -€376 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €57,320 | €2,837 | -€54,483 | -95.1% |
| Income taxes | 67/77 | €17,507 | €889 | -€16,618 | -94.9% |
| Profit (loss) for the period | 9904 | €39,813 | €1,948 | -€37,865 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,813 | €1,948 | -€37,865 | -95.1% |
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.