SIZAIRE: 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.
SIZAIRE
Largest movements
- Tangible fixed assets -€21,451
down €21,451 (-6.8%), from €315,112 to €293,661
of which Furniture and vehicles: -€13,319
- Cash +€14,966
up €14,966 (+14.2%), from €105,279 to €120,246
mainly Depreciation (+€28,740) and Current portion of long-term debt (+€10,056)
- Receivables within one year -€5,760
down €5,760 (-36.0%), from €16,013 to €10,253
of which Other amounts receivable: -€8,203
- Reserves -€14,774
down €14,774 (-12.5%), from €118,117 to €103,343
of which Distributable reserves: -€14,774
- Debts after one year -€10,056
down €10,056 (-4.6%), from €217,657 to €207,601
- Current portion of long-term debt +€10,056
new in 2025: €10,056
- Short-term financial debts -€9,071
down €9,071 (-76.8%), from €11,810 to €2,739
- Trade debts +€8,442
up €8,442 (+174%), from €4,863 to €13,305
- Depreciation +€9,808
up €9,808 (+51.8%), from €18,933 to €28,740
- Gross operating margin +€2,132
up €2,132 (+12.4%), from €17,236 to €19,369
- Other operating charges +€277
up €277 (+54.4%), from €509 to €786
- Financial charges -€209
down €209 (-3.0%), from €6,950 to €6,741
- Taxes +€197
up €197 (+723%), from €27 to €224
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.
Derived cash bridge
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 | €449,449 | €432,905 | -€16,544 | -3.7% |
| Fixed assets | 21/28 | €315,112 | €293,661 | -€21,451 | -6.8% |
| Tangible fixed assets | 22/27 | €315,112 | €293,661 | -€21,451 | -6.8% |
| Land and buildings | 22 | €247,406 | €241,334 | -€6,072 | -2.5% |
| Plant, machinery and equipment | 23 | €2,621 | €561 | -€2,060 | -78.6% |
| Furniture and vehicles | 24 | €65,086 | €51,766 | -€13,319 | -20.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €134,336 | €139,244 | +€4,908 | +3.7% |
| Stocks and contracts in progress | 3 | €11,622 | €7,264 | -€4,358 | -37.5% |
| Stocks | 30/36 | €11,622 | €7,264 | -€4,358 | -37.5% |
| Amounts receivable within one year | 40/41 | €16,013 | €10,253 | -€5,760 | -36.0% |
| Trade receivables | 40 | €5,837 | €8,280 | +€2,443 | +41.9% |
| Other amounts receivable | 41 | €10,176 | €1,973 | -€8,203 | -80.6% |
| Cash at bank and in hand | 54/58 | €105,279 | €120,246 | +€14,966 | +14.2% |
| Deferred charges and accrued income | 490/1 | €1,422 | €1,481 | +€59 | +4.2% |
| Total equity and liabilities | 10/49 | €449,449 | €432,905 | -€16,544 | -3.7% |
| Equity | 10/15 | €124,315 | €109,541 | -€14,774 | -11.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €118,117 | €103,343 | -€14,774 | -12.5% |
| Non-distributable reserves | 130/1 | €3,074 | €3,074 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,074 | €3,074 | = | 0.0% |
| Distributable reserves | 133 | €115,043 | €100,269 | -€14,774 | -12.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €325,134 | €323,364 | -€1,770 | -0.5% |
| Amounts payable after more than one year | 17 | €217,657 | €207,601 | -€10,056 | -4.6% |
| Financial debts | 170/4 | €217,657 | €207,601 | -€10,056 | -4.6% |
| Amounts payable within one year | 42/48 | €107,477 | €115,763 | +€8,287 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | - | €10,056 | +€10,056 | |
| Financial debts | 43 | €11,810 | €2,739 | -€9,071 | -76.8% |
| Credit institutions | 430/8 | €11,810 | €2,739 | -€9,071 | -76.8% |
| Trade debts | 44 | €4,863 | €13,305 | +€8,442 | +174% |
| Suppliers | 440/4 | €4,863 | €13,305 | +€8,442 | +174% |
| Taxes, remuneration and social security | 45 | €37 | €2,769 | +€2,731 | +7,285% |
| Taxes | 450/3 | €37 | €2,769 | +€2,731 | +7,285% |
| Other amounts payable | 47/48 | €90,767 | €86,895 | -€3,872 | -4.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,933 | €28,740 | +€9,808 | +51.8% |
| Other operating charges | 640/8 | €509 | €786 | +€277 | +54.4% |
| Gross operating margin | 9900 | €17,236 | €19,369 | +€2,132 | +12.4% |
| Operating profit (loss) | 9901 | -€2,205 | -€10,157 | -€7,952 | -361% |
| Financial income | 75/76B | €2,397 | €2,348 | -€49 | -2.0% |
| Recurring financial income | 75 | €2,397 | €2,348 | -€49 | -2.0% |
| Financial charges | 65/66B | €6,950 | €6,741 | -€209 | -3.0% |
| Recurring financial charges | 65 | €6,950 | €6,741 | -€209 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,758 | -€14,550 | -€7,792 | -115% |
| Income taxes | 67/77 | €27 | €224 | +€197 | +723% |
| Profit (loss) for the period | 9904 | -€6,785 | -€14,774 | -€7,989 | -118% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,785 | -€14,774 | -€7,989 | -118% |
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 30 October 2026 via checked.be.