SIVAN: 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.
What changed
SIVAN
NACE 46.842, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€286,764
2024 · €3.6m-€3.9m
Equity
€10.2m
2024 · €10.6m-€331,764
Cash
€26,098
2024 · €52,629-€26,531
Balance sheet total
€21.8m
2024 · €21.1m+€638,788
Largest movements
Assets
- Financial fixed assets +€861,620
up €861,620 (+4.2%), from €20.6m to €21.4m
Equity and liabilities
- Other debts +€684,958
up €684,958 (+16.6%), from €4.1m to €4.8m
- Debts after one year +€426,191
up €426,191 (+7.1%), from €6.0m to €6.5m
of which Financial debts: +€467,857
- Reserves -€331,764
down €331,764 (-3.2%), from €10.5m to €10.2m
of which Distributable reserves: -€331,764
- Short-term financial debts -€250,000
no longer reported in 2025 (was €250,000)
Income statement
- Financial income -€2.0m
down €2.0m (-99.9%), from €2.0m to €2,363
- Turnover -€1.9m
down €1.9m (-60.6%), from €3.1m to €1.2m
- Taxes -€172,172
down €172,172, from €170,660 to -€1,512
of which Taxes: -€170,660
- Staff costs +€78,584
up €78,584 (+20.5%), from €383,478 to €462,061
- Financial charges +€61,091
up €61,091 (+20.8%), from €293,025 to €354,116
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.
Result 2024
€3.6m
Turnover
-€1.9m
Other operating income
+€19,706
Services and other goods
-€6,334
Staff costs
-€78,584
Other operating charges
-€231
Financial income
-€2.0m
Financial charges
-€61,091
Taxes
+€172,172
Result 2025
-€286,764
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.
From operations
+€607,470
Investment
-€861,620
Financing
+€227,619
Cash 2024
€52,629
From operations (derived)
+€607,470
Net result for the year
-€286,764
Depreciation
+€70,000
Receivables after one year
+€64,286
Receivables within one year
+€62,048
Smaller working-capital items
-€1,976
Trade debts
+€2,748
Tax, wage and social debts
+€12,170
Other debts
+€684,958
Investment (derived)
-€861,620
Investment in fixed assets (net)
-€861,620
Financing
+€227,619
Debts after one year
+€426,191
Current portion of long-term debt
+€96,429
Short-term financial debts
-€250,000
Contributions, distributions and other
-€45,000
Cash 2025
€26,098
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,120,456 | €21,759,244 | +€638,788 | +3.0% |
| Fixed assets | 21/28 | €20,747,036 | €21,538,656 | +€791,620 | +3.8% |
| Intangible fixed assets | 21 | €175,288 | €105,288 | -€70,000 | -39.9% |
| Financial fixed assets | 28 | €20,571,748 | €21,433,368 | +€861,620 | +4.2% |
| Affiliated companies | 280/1 | €20,571,748 | €21,433,368 | +€861,620 | +4.2% |
| Participating interests | 280 | €20,571,748 | €21,433,368 | +€861,620 | +4.2% |
| Current assets | 29/58 | €373,420 | €220,588 | -€152,832 | -40.9% |
| Amounts receivable after more than one year | 29 | €96,429 | €32,143 | -€64,286 | -66.7% |
| Other amounts receivable | 291 | €96,429 | €32,143 | -€64,286 | -66.7% |
| Amounts receivable within one year | 40/41 | €221,899 | €159,852 | -€62,048 | -28.0% |
| Trade receivables | 40 | €74,604 | €94,741 | +€20,137 | +27.0% |
| Other amounts receivable | 41 | €147,296 | €65,111 | -€82,185 | -55.8% |
| Cash at bank and in hand | 54/58 | €52,629 | €26,098 | -€26,531 | -50.4% |
| Deferred charges and accrued income | 490/1 | €2,463 | €2,495 | +€32 | +1.3% |
| Total equity and liabilities | 10/49 | €21,120,456 | €21,759,244 | +€638,788 | +3.0% |
| Equity | 10/15 | €10,575,804 | €10,244,040 | -€331,764 | -3.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €10,513,804 | €10,182,040 | -€331,764 | -3.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €10,507,604 | €10,175,840 | -€331,764 | -3.2% |
| Amounts payable | 17/49 | €10,544,652 | €11,515,203 | +€970,552 | +9.2% |
| Amounts payable after more than one year | 17 | €6,041,667 | €6,467,857 | +€426,191 | +7.1% |
| Financial debts | 170/4 | €6,000,000 | €6,467,857 | +€467,857 | +7.8% |
| Credit institutions | 173 | - | €392,857 | +€392,857 | |
| Other loans | 174 | €6,000,000 | €6,075,000 | +€75,000 | +1.3% |
| Other amounts payable | 178/9 | €41,667 | - | -€41,667 | |
| Amounts payable within one year | 42/48 | €4,499,291 | €5,045,596 | +€546,305 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | - | €96,429 | +€96,429 | |
| Financial debts | 43 | €250,000 | - | -€250,000 | |
| Credit institutions | 430/8 | €250,000 | - | -€250,000 | |
| Trade debts | 44 | €77,924 | €80,673 | +€2,748 | +3.5% |
| Suppliers | 440/4 | €77,924 | €80,673 | +€2,748 | +3.5% |
| Taxes, remuneration and social security | 45 | €55,243 | €67,413 | +€12,170 | +22.0% |
| Taxes | 450/3 | €3,260 | €4,545 | +€1,285 | +39.4% |
| Remuneration and social security | 454/9 | €51,983 | €62,868 | +€10,885 | +20.9% |
| Other amounts payable | 47/48 | €4,116,124 | €4,801,082 | +€684,958 | +16.6% |
| Accrued charges and deferred income | 492/3 | €3,694 | €1,750 | -€1,944 | -52.6% |
| Operating income | 70/76A | €3,281,646 | €1,399,935 | -€1.9m | -57.3% |
| Turnover | 70 | €3,137,195 | €1,235,777 | -€1.9m | -60.6% |
| Other operating income | 74 | €144,451 | €164,158 | +€19,706 | +13.6% |
| Operating charges | 60/66A | €1,251,309 | €1,336,457 | +€85,148 | +6.8% |
| Services and other goods | 61 | €796,395 | €802,729 | +€6,334 | +0.8% |
| Remuneration, social security and pensions | 62 | €383,478 | €462,061 | +€78,584 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,000 | €70,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,436 | €1,667 | +€231 | +16.1% |
| Operating profit (loss) | 9901 | €2,030,337 | €63,478 | -€2.0m | -96.9% |
| Financial income | 75/76B | €2,037,405 | €2,363 | -€2.0m | -99.9% |
| Recurring financial income | 75 | €2,037,405 | €2,363 | -€2.0m | -99.9% |
| Income from financial fixed assets | 750 | €2,000,000 | - | -€2.0m | |
| Income from current assets | 751 | €37,405 | €2,363 | -€35,043 | -93.7% |
| Financial charges | 65/66B | €293,025 | €354,116 | +€61,091 | +20.8% |
| Recurring financial charges | 65 | €293,025 | €354,116 | +€61,091 | +20.8% |
| Debt charges | 650 | - | €354,116 | +€354,116 | |
| Other financial charges | 652/9 | €293,025 | - | -€293,025 | |
| Profit (loss) for the period before taxes | 9903 | €3,774,717 | -€288,275 | -€4.1m | |
| Income taxes | 67/77 | €170,660 | -€1,512 | -€172,172 | |
| Taxes | 670/3 | €170,660 | - | -€170,660 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,512 | +€1,512 | |
| Profit (loss) for the period | 9904 | €3,604,057 | -€286,764 | -€3.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €3,604,057 | -€286,764 | -€3.9m |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.