Sizano: 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.
Sizano
Largest movements
- Current investments +€75,000
up €75,000 (+300%), from €25,000 to €100,000
- Cash -€26,999
down €26,999 (-14.7%), from €184,148 to €157,149
mainly Contributions, distributions and other (-€120,000) and Current investments (-€75,000)
- Profit (loss) carried forward -€282,800
down €282,800 (-100%), from €282,800 to €0
- Reserves +€230,497
up €230,497 (+12,392%), from €1,860 to €232,357
- Other debts +€101,246
up €101,246 (+4,049%), from €2,501 to €103,747
- Debts after one year -€13,476
down €13,476 (-62.8%), from €21,460 to €7,984
- Tax, wage and social debts +€8,712
up €8,712 (+3,026%), from €288 to €9,000
- Gross operating margin +€23,174
up €23,174 (+35.0%), from €66,121 to €89,296
- Taxes +€4,558
up €4,558 (+34.0%), from €13,402 to €17,960
- Financial income -€1,037
down €1,037 (-36.5%), from €2,839 to €1,802
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 | €342,034 | €386,393 | +€44,359 | +13.0% |
| Fixed assets | 21/28 | €129,489 | €127,822 | -€1,668 | -1.3% |
| Tangible fixed assets | 22/27 | €4,481 | €2,813 | -€1,669 | -37.2% |
| Plant, machinery and equipment | 23 | €2,519 | €1,458 | -€1,061 | -42.1% |
| Furniture and vehicles | 24 | €1,962 | €1,354 | -€608 | -31.0% |
| Financial fixed assets | 28 | €125,008 | €125,009 | +€1 | 0.0% |
| Current assets | 29/58 | €212,545 | €258,572 | +€46,027 | +21.7% |
| Amounts receivable within one year | 40/41 | €2,372 | €341 | -€2,031 | -85.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,372 | €341 | -€2,031 | -85.6% |
| Current investments | 50/53 | €25,000 | €100,000 | +€75,000 | +300% |
| Cash at bank and in hand | 54/58 | €184,148 | €157,149 | -€26,999 | -14.7% |
| Deferred charges and accrued income | 490/1 | €1,025 | €1,081 | +€57 | +5.5% |
| Total equity and liabilities | 10/49 | €342,034 | €386,393 | +€44,359 | +13.0% |
| Equity | 10/15 | €303,260 | €250,957 | -€52,304 | -17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €232,357 | +€230,497 | +12,392% |
| Distributable reserves | 133 | €1,860 | €232,357 | +€230,497 | +12,392% |
| Profit (loss) carried forward | 14 | €282,800 | €0 | -€282,800 | -100% |
| Amounts payable | 17/49 | €38,774 | €135,437 | +€96,663 | +249% |
| Amounts payable after more than one year | 17 | €21,460 | €7,984 | -€13,476 | -62.8% |
| Financial debts | 170/4 | €21,460 | €7,984 | -€13,476 | -62.8% |
| Amounts payable within one year | 42/48 | €17,313 | €127,452 | +€110,139 | +636% |
| Current portion of amounts payable after more than one year | 42 | €13,215 | €13,476 | +€262 | +2.0% |
| Trade debts | 44 | €1,310 | €1,230 | -€80 | -6.1% |
| Suppliers | 440/4 | €1,310 | €1,230 | -€80 | -6.1% |
| Taxes, remuneration and social security | 45 | €288 | €9,000 | +€8,712 | +3,026% |
| Taxes | 450/3 | €288 | €9,000 | +€8,712 | +3,026% |
| Other amounts payable | 47/48 | €2,501 | €103,747 | +€101,246 | +4,049% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,669 | €1,669 | = | 0.0% |
| Other operating charges | 640/8 | €604 | €677 | +€72 | +12.0% |
| Gross operating margin | 9900 | €66,121 | €89,296 | +€23,174 | +35.0% |
| Operating profit (loss) | 9901 | €63,848 | €86,950 | +€23,102 | +36.2% |
| Financial income | 75/76B | €2,839 | €1,802 | -€1,037 | -36.5% |
| Recurring financial income | 75 | €2,839 | €1,802 | -€1,037 | -36.5% |
| Financial charges | 65/66B | €3,354 | €3,097 | -€257 | -7.6% |
| Recurring financial charges | 65 | €3,354 | €3,097 | -€257 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €63,334 | €85,656 | +€22,322 | +35.2% |
| Income taxes | 67/77 | €13,402 | €17,960 | +€4,558 | +34.0% |
| Profit (loss) for the period | 9904 | €49,932 | €67,696 | +€17,764 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,932 | €67,696 | +€17,764 | +35.6% |
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 17 October 2026 via checked.be.