SIWA: 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.
SIWA
Largest movements
- Tangible fixed assets +€162,624
up €162,624 (+714.0%), from €22,778 to €185,401
of which Land and buildings: +€165,635
- Receivables within one year +€64,156
up €64,156 (+241.3%), from €26,585 to €90,741
of which Trade receivables: +€74,023
- Cash -€15,059
down €15,059 (-42.1%), from €35,743 to €20,684
mainly Investment in fixed assets (net) (-€174,002) and Receivables within one year (-€64,156)
- Debts after one year +€127,602
up €127,602 (+1785.4%), from €7,147 to €134,749
- Trade debts +€41,053
up €41,053 (+180.7%), from €22,723 to €63,775
- Profit (loss) carried forward +€22,832
up €22,832 (+85.9%), from -€26,566 to -€3,734
- Tax, wage and social debts +€14,596
up €14,596 (+181.7%), from €8,034 to €22,629
- Other debts +€3,396
up €3,396 (+12.0%), from €28,218 to €31,614
- Gross operating margin +€64,067
up €64,067, from -€16,731 to €47,336
- Financial charges +€7,508
up €7,508 (+804.3%), from €933 to €8,441
- Depreciation +€7,148
up €7,148 (+136.7%), from €5,230 to €12,378
- Other operating charges +€1,001
up €1,001 (+82.8%), from €1,209 to €2,210
- Taxes -€614
down €614 (-25.5%), from €2,405 to €1,791
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 | €92,703 | €303,423 | +€210,720 | +227.3% |
| Fixed assets | 21/28 | €30,375 | €191,999 | +€161,624 | +532.1% |
| Intangible fixed assets | 21 | €7,597 | €6,597 | -€1,000 | -13.2% |
| Tangible fixed assets | 22/27 | €22,778 | €185,401 | +€162,624 | +714.0% |
| Land and buildings | 22 | €12,582 | €178,217 | +€165,635 | +1316.5% |
| Plant, machinery and equipment | 23 | €679 | €294 | -€385 | -56.7% |
| Furniture and vehicles | 24 | €9,517 | €6,891 | -€2,626 | -27.6% |
| Current assets | 29/58 | €62,328 | €111,425 | +€49,096 | +78.8% |
| Amounts receivable within one year | 40/41 | €26,585 | €90,741 | +€64,156 | +241.3% |
| Trade receivables | 40 | €16,718 | €90,741 | +€74,023 | +442.8% |
| Other amounts receivable | 41 | €9,867 | - | -€9,867 | |
| Cash at bank and in hand | 54/58 | €35,743 | €20,684 | -€15,059 | -42.1% |
| Total equity and liabilities | 10/49 | €92,703 | €303,423 | +€210,720 | +227.3% |
| Equity | 10/15 | €19,200 | €42,032 | +€22,832 | +118.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €33,365 | €33,365 | = | 0.0% |
| Distributable reserves | 133 | €33,365 | €33,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,566 | -€3,734 | +€22,832 | +85.9% |
| Amounts payable | 17/49 | €73,504 | €261,391 | +€187,888 | +255.6% |
| Amounts payable after more than one year | 17 | €7,147 | €134,749 | +€127,602 | +1785.4% |
| Financial debts | 170/4 | €7,147 | €134,749 | +€127,602 | +1785.4% |
| Amounts payable within one year | 42/48 | €66,357 | €126,643 | +€60,286 | +90.9% |
| Current portion of amounts payable after more than one year | 42 | €7,383 | €8,624 | +€1,241 | +16.8% |
| Trade debts | 44 | €22,723 | €63,775 | +€41,053 | +180.7% |
| Suppliers | 440/4 | €22,723 | €63,775 | +€41,053 | +180.7% |
| Taxes, remuneration and social security | 45 | €8,034 | €22,629 | +€14,596 | +181.7% |
| Taxes | 450/3 | €8,034 | €22,629 | +€14,596 | +181.7% |
| Other amounts payable | 47/48 | €28,218 | €31,614 | +€3,396 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,230 | €12,378 | +€7,148 | +136.7% |
| Other operating charges | 640/8 | €1,209 | €2,210 | +€1,001 | +82.8% |
| Gross operating margin | 9900 | -€16,731 | €47,336 | +€64,067 | |
| Operating profit (loss) | 9901 | -€23,171 | €32,748 | +€55,918 | |
| Financial income | 75/76B | €1 | €317 | +€316 | +30061.0% |
| Recurring financial income | 75 | €1 | €317 | +€316 | +30061.0% |
| Financial charges | 65/66B | €933 | €8,441 | +€7,508 | +804.3% |
| Recurring financial charges | 65 | €933 | €8,441 | +€7,508 | +804.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,103 | €24,623 | +€48,726 | |
| Income taxes | 67/77 | €2,405 | €1,791 | -€614 | -25.5% |
| Profit (loss) for the period | 9904 | -€26,508 | €22,832 | +€49,340 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,508 | €22,832 | +€49,340 |
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 2 October 2026 via checked.be.