SIZEN: 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.
SIZEN
Largest movements
- Cash +€226,521
up €226,521 (+2764.8%), from €8,193 to €234,714
mainly Current portion of long-term debt (+€200,723) and Tax, wage and social debts (+€40,408)
- Receivables within one year +€62,878
up €62,878 (+171.7%), from €36,611 to €99,489
of which Trade receivables: +€68,976
- Tangible fixed assets -€44,615
down €44,615 (-61.2%), from €72,869 to €28,255
of which Furniture and vehicles: -€44,545
- Deferred charges and accrued income -€5,511
down €5,511 (-7.1%), from €77,148 to €71,637
- Current portion of long-term debt +€200,723
up €200,723 (+1000.7%), from €20,057 to €220,780
- Tax, wage and social debts +€40,408
up €40,408 (+463.6%), from €8,716 to €49,124
of which Remuneration and social security: +€21,788
- Debts after one year -€20,780
down €20,780 (-50.2%), from €41,406 to €20,626
- Profit (loss) carried forward +€11,635
up €11,635 (+73.9%), from €15,736 to €27,371
- Trade debts +€8,924
up €8,924 (+525.2%), from €1,699 to €10,623
- Gross operating margin +€141,382
up €141,382 (+160.1%), from €88,289 to €229,671
- Staff costs +€123,386
up €123,386 (+196.3%), from €62,871 to €186,257
- Financial income -€11,562
down €11,562 (-97.3%), from €11,881 to €319
- Taxes +€3,780
up €3,780 (+54.4%), from €6,947 to €10,727
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 | €194,821 | €434,095 | +€239,274 | +122.8% |
| Fixed assets | 21/28 | €72,869 | €28,255 | -€44,615 | -61.2% |
| Tangible fixed assets | 22/27 | €72,869 | €28,255 | -€44,615 | -61.2% |
| Furniture and vehicles | 24 | €72,659 | €28,115 | -€44,545 | -61.3% |
| Other tangible fixed assets | 26 | €210 | €140 | -€70 | -33.3% |
| Current assets | 29/58 | €121,952 | €405,840 | +€283,888 | +232.8% |
| Amounts receivable within one year | 40/41 | €36,611 | €99,489 | +€62,878 | +171.7% |
| Trade receivables | 40 | €14,714 | €83,689 | +€68,976 | +468.8% |
| Other amounts receivable | 41 | €21,897 | €15,800 | -€6,097 | -27.8% |
| Cash at bank and in hand | 54/58 | €8,193 | €234,714 | +€226,521 | +2764.8% |
| Deferred charges and accrued income | 490/1 | €77,148 | €71,637 | -€5,511 | -7.1% |
| Total equity and liabilities | 10/49 | €194,821 | €434,095 | +€239,274 | +122.8% |
| Equity | 10/15 | €112,681 | €124,316 | +€11,635 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €90,745 | €90,745 | = | 0.0% |
| Distributable reserves | 133 | €90,745 | €90,745 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,736 | €27,371 | +€11,635 | +73.9% |
| Amounts payable | 17/49 | €82,140 | €309,779 | +€227,639 | +277.1% |
| Amounts payable after more than one year | 17 | €41,406 | €20,626 | -€20,780 | -50.2% |
| Financial debts | 170/4 | €41,406 | €20,626 | -€20,780 | -50.2% |
| Amounts payable within one year | 42/48 | €40,734 | €289,153 | +€248,419 | +609.9% |
| Current portion of amounts payable after more than one year | 42 | €20,057 | €220,780 | +€200,723 | +1000.7% |
| Trade debts | 44 | €1,699 | €10,623 | +€8,924 | +525.2% |
| Suppliers | 440/4 | €1,699 | €10,623 | +€8,924 | +525.2% |
| Taxes, remuneration and social security | 45 | €8,716 | €49,124 | +€40,408 | +463.6% |
| Taxes | 450/3 | €322 | €18,942 | +€18,620 | +5780.3% |
| Remuneration and social security | 454/9 | €8,394 | €30,182 | +€21,788 | +259.6% |
| Other amounts payable | 47/48 | €10,261 | €8,626 | -€1,636 | -15.9% |
| Remuneration, social security and pensions | 62 | €62,871 | €186,257 | +€123,386 | +196.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,772 | €10,706 | -€66 | -0.6% |
| Other operating charges | 640/8 | €507 | €685 | +€178 | +35.2% |
| Non-recurring operating charges | 66A | - | €4,929 | +€4,929 | |
| Gross operating margin | 9900 | €88,289 | €229,671 | +€141,382 | +160.1% |
| Operating profit (loss) | 9901 | €14,139 | €27,095 | +€12,955 | +91.6% |
| Financial income | 75/76B | €11,881 | €319 | -€11,562 | -97.3% |
| Recurring financial income | 75 | €11,881 | €319 | -€11,562 | -97.3% |
| Financial charges | 65/66B | €2,767 | €4,010 | +€1,243 | +44.9% |
| Recurring financial charges | 65 | €2,767 | €4,010 | +€1,243 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | €23,253 | €23,404 | +€151 | +0.6% |
| Income taxes | 67/77 | €6,947 | €10,727 | +€3,780 | +54.4% |
| Profit (loss) for the period | 9904 | €16,306 | €12,677 | -€3,629 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,306 | €12,677 | -€3,629 | -22.3% |
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 7 October 2026 via checked.be.