SIX: 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
SIX
NACE 43.221, Plumbing work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.7m
2024 · €97,612+€1.6m
Equity
€13.5m
2024 · €13.5m+€14,878
Cash
€2.3m
2024 · €887,202+€1.4m
Balance sheet total
€31.8m
2024 · €25.2m+€6.6m
Largest movements
Assets
- Receivables within one year +€4.1m
up €4.1m (+34.0%), from €12.1m to €16.2m
of which Trade receivables: +€3.8m
- Cash +€1.4m
up €1.4m (+153.9%), from €887,202 to €2.3m
mainly Trade debts (+€2.3m) and Short-term financial debts (+€2.0m)
- Stocks and contracts +€895,197
up €895,197 (+26.9%), from €3.3m to €4.2m
of which Contracts in progress: +€524,616
Equity and liabilities
- Trade debts +€2.3m
up €2.3m (+47.5%), from €4.8m to €7.1m
- Short-term financial debts +€2.0m
up €2.0m (+122.4%), from €1.7m to €3.7m
- Other debts +€1.4m
up €1.4m (+94.9%), from €1.4m to €2.8m
- Advances received +€495,508
new in 2025: €495,508
Income statement
- Turnover +€12.2m
up €12.2m (+23.2%), from €52.8m to €65.0m
- Goods and materials +€8.4m
up €8.4m (+24.2%), from €34.7m to €43.1m
of which Purchases: +€8.6m
- Staff costs +€1.9m
up €1.9m (+16.2%), from €11.8m to €13.7m
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
€97,612
Turnover
+€12.2m
Other operating income
+€53,325
Goods and materials
-€8.4m
Services and other goods
-€354,404
Staff costs
-€1.9m
Depreciation
-€89,068
Provisions
-€26,000
Other operating charges
+€23,451
Other operating items
+€326,552
Financial income
+€93,150
Financial charges
-€104,638
Taxes
-€289,937
Result 2025
€1.7m
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
+€1.8m
Investment
-€855,060
Financing
+€395,453
Cash 2024
€887,202
From operations (derived)
+€1.8m
Net result for the year
+€1.7m
Depreciation
+€592,994
Smaller working-capital items
-€2,954
Stocks and contracts
-€895,197
Receivables within one year
-€4.1m
Provisions
+€26,000
Trade debts
+€2.3m
Tax, wage and social debts
+€157,451
Advances received
+€495,508
Other debts
+€1.4m
Accrued charges and deferred income
+€241,457
Investment (derived)
-€855,060
Investment in fixed assets (net)
-€855,060
Financing
+€395,453
Debts after one year
+€204,692
Current portion of long-term debt
-€192,192
Short-term financial debts
+€2.0m
Contributions, distributions and other
-€1.7m
Cash 2025
€2.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,173,815 | €31,807,502 | +€6.6m | +26.4% |
| Fixed assets | 21/28 | €2,482,392 | €2,744,459 | +€262,066 | +10.6% |
| Intangible fixed assets | 21 | €114,860 | €72,562 | -€42,298 | -36.8% |
| Tangible fixed assets | 22/27 | €1,468,839 | €1,774,997 | +€306,159 | +20.8% |
| Plant, machinery and equipment | 23 | €577,458 | €969,047 | +€391,590 | +67.8% |
| Furniture and vehicles | 24 | €413,086 | €477,090 | +€64,004 | +15.5% |
| Other tangible fixed assets | 26 | €478,295 | €328,860 | -€149,435 | -31.2% |
| Financial fixed assets | 28 | €898,694 | €896,899 | -€1,795 | -0.2% |
| Other financial fixed assets | 284/8 | €898,694 | €896,899 | -€1,795 | -0.2% |
| Amounts receivable and cash guarantees | 285/8 | €898,694 | €896,899 | -€1,795 | -0.2% |
| Current assets | 29/58 | €22,691,423 | €29,063,043 | +€6.4m | +28.1% |
| Amounts receivable after more than one year | 29 | €6,024,359 | €6,020,042 | -€4,317 | -0.1% |
| Other amounts receivable | 291 | €6,024,359 | €6,020,042 | -€4,317 | -0.1% |
| Stocks and contracts in progress | 3 | €3,332,440 | €4,227,637 | +€895,197 | +26.9% |
| Stocks | 30/36 | €2,085,973 | €2,456,554 | +€370,581 | +17.8% |
| Raw materials and consumables | 30/31 | €2,085,973 | €2,456,554 | +€370,581 | +17.8% |
| Contracts in progress | 37 | €1,246,467 | €1,771,083 | +€524,616 | +42.1% |
| Amounts receivable within one year | 40/41 | €12,096,452 | €16,204,837 | +€4.1m | +34.0% |
| Trade receivables | 40 | €7,972,755 | €11,753,725 | +€3.8m | +47.4% |
| Other amounts receivable | 41 | €4,123,698 | €4,451,113 | +€327,415 | +7.9% |
| Cash at bank and in hand | 54/58 | €887,202 | €2,252,287 | +€1.4m | +153.9% |
| Deferred charges and accrued income | 490/1 | €350,969 | €358,240 | +€7,270 | +2.1% |
| Total equity and liabilities | 10/49 | €25,173,815 | €31,807,502 | +€6.6m | +26.4% |
| Equity | 10/15 | €13,470,864 | €13,485,741 | +€14,878 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,452,264 | €13,467,141 | +€14,878 | +0.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,231,861 | €13,231,861 | = | 0.0% |
| Distributable reserves | 133 | €218,543 | €233,421 | +€14,878 | +6.8% |
| Provisions and deferred taxes | 16 | - | €26,000 | +€26,000 | |
| Provisions for liabilities and charges | 160/5 | - | €26,000 | +€26,000 | |
| Other liabilities and charges | 164/5 | - | €26,000 | +€26,000 | |
| Amounts payable | 17/49 | €11,702,951 | €18,295,760 | +€6.6m | +56.3% |
| Amounts payable after more than one year | 17 | €1,162,500 | €1,367,192 | +€204,692 | +17.6% |
| Financial debts | 170/4 | €1,162,500 | €1,367,192 | +€204,692 | +17.6% |
| Credit institutions | 173 | €1,162,500 | €1,367,192 | +€204,692 | +17.6% |
| Amounts payable within one year | 42/48 | €10,314,173 | €16,460,833 | +€6.1m | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €737,500 | €545,308 | -€192,192 | -26.1% |
| Financial debts | 43 | €1,661,517 | €3,694,470 | +€2.0m | +122.4% |
| Credit institutions | 430/8 | €1,661,517 | €3,694,470 | +€2.0m | +122.4% |
| Trade debts | 44 | €4,843,852 | €7,146,590 | +€2.3m | +47.5% |
| Suppliers | 440/4 | €4,843,852 | €7,146,590 | +€2.3m | +47.5% |
| Advances received on contracts in progress | 46 | - | €495,508 | +€495,508 | |
| Taxes, remuneration and social security | 45 | €1,648,199 | €1,805,650 | +€157,451 | +9.6% |
| Taxes | 450/3 | €241,281 | €275,518 | +€34,237 | +14.2% |
| Remuneration and social security | 454/9 | €1,406,919 | €1,530,132 | +€123,214 | +8.8% |
| Other amounts payable | 47/48 | €1,423,104 | €2,773,307 | +€1.4m | +94.9% |
| Accrued charges and deferred income | 492/3 | €226,278 | €467,735 | +€241,457 | +106.7% |
| Operating income | 70/76A | €53,424,407 | €66,046,779 | +€12.6m | +23.6% |
| Turnover | 70 | €52,780,602 | €65,021,905 | +€12.2m | +23.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €170,584 | €524,616 | +€354,032 | +207.5% |
| Other operating income | 74 | €434,946 | €488,270 | +€53,325 | +12.3% |
| Non-recurring operating income | 76A | €38,275 | €11,988 | -€26,288 | -68.7% |
| Operating charges | 60/66A | €53,591,068 | €64,344,750 | +€10.8m | +20.1% |
| Goods for resale, raw materials and consumables | 60 | €34,661,497 | €43,056,358 | +€8.4m | +24.2% |
| Purchases | 600/8 | €34,780,278 | €43,426,939 | +€8.6m | +24.9% |
| Change in stocks: decrease (increase) | 609 | -€118,781 | -€370,581 | -€251,800 | -212.0% |
| Services and other goods | 61 | €6,550,697 | €6,905,100 | +€354,404 | +5.4% |
| Remuneration, social security and pensions | 62 | €11,794,229 | €13,705,838 | +€1.9m | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €503,926 | €592,994 | +€89,068 | +17.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €26,000 | +€26,000 | |
| Other operating charges | 640/8 | €80,719 | €57,268 | -€23,451 | -29.1% |
| Non-recurring operating charges | 66A | - | €1,192 | +€1,192 | |
| Operating profit (loss) | 9901 | -€166,661 | €1,702,029 | +€1.9m | |
| Financial income | 75/76B | €738,919 | €832,070 | +€93,150 | +12.6% |
| Recurring financial income | 75 | €738,919 | €832,070 | +€93,150 | +12.6% |
| Income from current assets | 751 | €280,566 | €357,462 | +€76,897 | +27.4% |
| Other financial income | 752/9 | €458,353 | €474,607 | +€16,254 | +3.5% |
| Financial charges | 65/66B | €399,696 | €504,334 | +€104,638 | +26.2% |
| Recurring financial charges | 65 | €399,696 | €504,334 | +€104,638 | +26.2% |
| Debt charges | 650 | €216,526 | €257,276 | +€40,750 | +18.8% |
| Other financial charges | 652/9 | €183,170 | €247,058 | +€63,888 | +34.9% |
| Profit (loss) for the period before taxes | 9903 | €172,562 | €2,029,765 | +€1.9m | +1076.3% |
| Income taxes | 67/77 | €74,950 | €364,887 | +€289,937 | +386.8% |
| Taxes | 670/3 | €74,950 | €364,887 | +€289,937 | +386.8% |
| Profit (loss) for the period | 9904 | €97,612 | €1,664,878 | +€1.6m | +1605.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,612 | €1,664,878 | +€1.6m | +1605.6% |
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 3 October 2026 via checked.be.