Sybamax: 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.
Sybamax
Largest movements
- Receivables within one year -€391,181
down €391,181 (-79.4%), from €492,476 to €101,295
of which Trade receivables: -€427,213
- Cash -€84,726
down €84,726 (-32.3%), from €262,154 to €177,427
mainly Trade debts (-€384,721) and Other debts (-€298,487)
- Tangible fixed assets -€59,702
down €59,702 (-22.0%), from €271,763 to €212,060
of which Furniture and vehicles: -€32,296
- Deferred charges and accrued income -€44,041
down €44,041 (-25.2%), from €174,849 to €130,807
- Stocks and contracts +€26,945
up €26,945 (+25.1%), from €107,232 to €134,177
- Trade debts -€384,721
down €384,721 (-78.2%), from €491,762 to €107,041
- Other debts -€298,487
down €298,487 (-88.2%), from €338,231 to €39,743
- Debts after one year +€79,516
up €79,516 (+49.2%), from €161,578 to €241,094
of which Other amounts payable: +€120,000
- Reserves +€60,107
up €60,107 (+44.0%), from €136,642 to €196,749
- Tax, wage and social debts -€48,521
down €48,521 (-35.4%), from €136,877 to €88,356
of which Taxes: -€48,760
- Gross operating margin -€64,509
down €64,509 (-30.6%), from €211,156 to €146,647
- Taxes -€26,372
down €26,372 (-58.3%), from €45,258 to €18,887
- Depreciation +€21,136
up €21,136 (+101%), from €20,896 to €42,032
- Financial charges +€13,580
up €13,580 (+161%), from €8,431 to €22,011
- Other operating charges +€3,024
up €3,024 (+533%), from €568 to €3,592
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 | €1,308,473 | €755,767 | -€552,706 | -42.2% |
| Fixed assets | 21/28 | €271,763 | €212,060 | -€59,702 | -22.0% |
| Tangible fixed assets | 22/27 | €271,763 | €212,060 | -€59,702 | -22.0% |
| Land and buildings | 22 | €133,401 | €117,365 | -€16,036 | -12.0% |
| Plant, machinery and equipment | 23 | €3,534 | €2,734 | -€800 | -22.6% |
| Furniture and vehicles | 24 | €82,524 | €50,228 | -€32,296 | -39.1% |
| Leasing and similar rights | 25 | €52,304 | €41,734 | -€10,570 | -20.2% |
| Current assets | 29/58 | €1,036,710 | €543,706 | -€493,004 | -47.6% |
| Stocks and contracts in progress | 3 | €107,232 | €134,177 | +€26,945 | +25.1% |
| Stocks | 30/36 | €107,232 | €134,177 | +€26,945 | +25.1% |
| Amounts receivable within one year | 40/41 | €492,476 | €101,295 | -€391,181 | -79.4% |
| Trade receivables | 40 | €481,788 | €54,575 | -€427,213 | -88.7% |
| Other amounts receivable | 41 | €10,688 | €46,719 | +€36,032 | +337% |
| Cash at bank and in hand | 54/58 | €262,154 | €177,427 | -€84,726 | -32.3% |
| Deferred charges and accrued income | 490/1 | €174,849 | €130,807 | -€44,041 | -25.2% |
| Total equity and liabilities | 10/49 | €1,308,473 | €755,767 | -€552,706 | -42.2% |
| Equity | 10/15 | €139,642 | €199,749 | +€60,107 | +43.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €136,642 | €196,749 | +€60,107 | +44.0% |
| Distributable reserves | 133 | €136,642 | €196,749 | +€60,107 | +44.0% |
| Amounts payable | 17/49 | €1,168,831 | €556,017 | -€612,814 | -52.4% |
| Amounts payable after more than one year | 17 | €161,578 | €241,094 | +€79,516 | +49.2% |
| Financial debts | 170/4 | €161,578 | €121,094 | -€40,484 | -25.1% |
| Other amounts payable | 178/9 | - | €120,000 | +€120,000 | |
| Amounts payable within one year | 42/48 | €1,006,332 | €306,427 | -€699,904 | -69.6% |
| Current portion of amounts payable after more than one year | 42 | €39,462 | €68,599 | +€29,137 | +73.8% |
| Trade debts | 44 | €491,762 | €107,041 | -€384,721 | -78.2% |
| Suppliers | 440/4 | €491,762 | €107,041 | -€384,721 | -78.2% |
| Advances received on contracts in progress | 46 | - | €2,688 | +€2,688 | |
| Taxes, remuneration and social security | 45 | €136,877 | €88,356 | -€48,521 | -35.4% |
| Taxes | 450/3 | €130,795 | €82,035 | -€48,760 | -37.3% |
| Remuneration and social security | 454/9 | €6,082 | €6,321 | +€239 | +3.9% |
| Other amounts payable | 47/48 | €338,231 | €39,743 | -€298,487 | -88.2% |
| Accrued charges and deferred income | 492/3 | €921 | €8,496 | +€7,575 | +822% |
| Remuneration, social security and pensions | 62 | - | €275 | +€275 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,896 | €42,032 | +€21,136 | +101% |
| Other operating charges | 640/8 | €568 | €3,592 | +€3,024 | +533% |
| Non-recurring operating charges | 66A | - | €315 | +€315 | |
| Gross operating margin | 9900 | €211,156 | €146,647 | -€64,509 | -30.6% |
| Operating profit (loss) | 9901 | €189,693 | €100,434 | -€89,259 | -47.1% |
| Financial income | 75/76B | €638 | €571 | -€67 | -10.5% |
| Recurring financial income | 75 | €638 | €571 | -€67 | -10.5% |
| Financial charges | 65/66B | €8,431 | €22,011 | +€13,580 | +161% |
| Recurring financial charges | 65 | €8,431 | €22,011 | +€13,580 | +161% |
| Profit (loss) for the period before taxes | 9903 | €181,900 | €78,994 | -€102,907 | -56.6% |
| Income taxes | 67/77 | €45,258 | €18,887 | -€26,372 | -58.3% |
| Profit (loss) for the period | 9904 | €136,642 | €60,107 | -€76,535 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €136,642 | €60,107 | -€76,535 | -56.0% |
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 20 October 2026 via checked.be.