SIWIVI: what changed
SIWIVI
Largest movements
- Tangible fixed assets +€53,706
up €53,706 (+13.3%), from €402,623 to €456,329
of which Land and buildings: +€54,822
- Deferred charges and accrued income -€9,961
down €9,961 (-76.7%), from €12,995 to €3,034
- Cash +€5,872
up €5,872 (+114%), from €5,163 to €11,035
mainly Net result for the year (+€47,161) and Depreciation (+€12,014)
- Reserves +€45,433
up €45,433 (+27.3%), from €166,704 to €212,137
- Trade debts -€9,063
down €9,063 (-76.6%), from €11,829 to €2,766
- Debts after one year +€5,775
up €5,775 (+4.3%), from €135,546 to €141,321
- Other debts +€5,071
up €5,071 (+10.5%), from €48,492 to €53,563
- Financial income +€76,388
up €76,388 (+13,568%), from €563 to €76,951
of which Non-recurring financial income: +€75,719
- Gross operating margin -€33,693
down €33,693 (-64.5%), from €52,197 to €18,504
- Taxes +€13,239
up €13,239 (+122%), from €10,866 to €24,105
- Depreciation +€2,518
up €2,518 (+26.5%), from €9,496 to €12,014
- Financial charges +€1,536
up €1,536 (+19.1%), from €8,023 to €9,559
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €428,549 | €476,988 | +€48,439 | +11.3% |
| Fixed assets | 21/28 | €403,373 | €457,079 | +€53,706 | +13.3% |
| Tangible fixed assets | 22/27 | €402,623 | €456,329 | +€53,706 | +13.3% |
| Land and buildings | 22 | €401,507 | €456,329 | +€54,822 | +13.7% |
| Furniture and vehicles | 24 | €1,116 | - | -€1,116 | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €25,176 | €19,909 | -€5,267 | -20.9% |
| Amounts receivable within one year | 40/41 | €6,517 | €4,740 | -€1,777 | -27.3% |
| Other amounts receivable | 41 | €6,517 | €4,740 | -€1,777 | -27.3% |
| Current investments | 50/53 | €501 | €1,100 | +€599 | +120% |
| Cash at bank and in hand | 54/58 | €5,163 | €11,035 | +€5,872 | +114% |
| Deferred charges and accrued income | 490/1 | €12,995 | €3,034 | -€9,961 | -76.7% |
| Total equity and liabilities | 10/49 | €428,549 | €476,988 | +€48,439 | +11.3% |
| Equity | 10/15 | €201,704 | €247,137 | +€45,433 | +22.5% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €166,704 | €212,137 | +€45,433 | +27.3% |
| Distributable reserves | 133 | €166,704 | €212,137 | +€45,433 | +27.3% |
| Amounts payable | 17/49 | €226,845 | €229,851 | +€3,006 | +1.3% |
| Amounts payable after more than one year | 17 | €135,546 | €141,321 | +€5,775 | +4.3% |
| Financial debts | 170/4 | €135,546 | €141,321 | +€5,775 | +4.3% |
| Amounts payable within one year | 42/48 | €91,299 | €88,530 | -€2,769 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €29,374 | €29,899 | +€525 | +1.8% |
| Financial debts | 43 | - | €246 | +€246 | |
| Credit institutions | 430/8 | - | €246 | +€246 | |
| Trade debts | 44 | €11,829 | €2,766 | -€9,063 | -76.6% |
| Suppliers | 440/4 | €11,829 | €2,766 | -€9,063 | -76.6% |
| Taxes, remuneration and social security | 45 | €1,604 | €2,056 | +€452 | +28.2% |
| Taxes | 450/3 | €1,604 | €2,056 | +€452 | +28.2% |
| Other amounts payable | 47/48 | €48,492 | €53,563 | +€5,071 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,496 | €12,014 | +€2,518 | +26.5% |
| Other operating charges | 640/8 | €1,783 | €2,616 | +€833 | +46.7% |
| Gross operating margin | 9900 | €52,197 | €18,504 | -€33,693 | -64.5% |
| Operating profit (loss) | 9901 | €40,918 | €3,874 | -€37,044 | -90.5% |
| Financial income | 75/76B | €563 | €76,951 | +€76,388 | +13,568% |
| Recurring financial income | 75 | €563 | €1,232 | +€669 | +119% |
| Non-recurring financial income | 76B | - | €75,719 | +€75,719 | |
| Financial charges | 65/66B | €8,023 | €9,559 | +€1,536 | +19.1% |
| Recurring financial charges | 65 | €8,023 | €9,559 | +€1,536 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €33,458 | €71,266 | +€37,808 | +113% |
| Income taxes | 67/77 | €10,866 | €24,105 | +€13,239 | +122% |
| Profit (loss) for the period | 9904 | €22,592 | €47,161 | +€24,569 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €22,592 | €47,161 | +€24,569 | +109% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.