SYBEPHAR: 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.
SYBEPHAR
Largest movements
- Receivables within one year +€73,618
up €73,618 (+74.1%), from €99,287 to €172,905
of which Trade receivables: +€84,519
- Cash +€64,129
up €64,129 (+54.7%), from €117,155 to €181,284
mainly Net result for the year (+€148,100) and Depreciation (+€69,213)
- Tangible fixed assets -€51,393
down €51,393 (-12.5%), from €409,620 to €358,226
of which Land and buildings: -€43,133
- Current investments +€50,000
new in 2025: €50,000
- Stocks and contracts +€27,339
up €27,339 (+15.7%), from €173,726 to €201,065
- Reserves +€94,676
up €94,676 (+34.8%), from €271,927 to €366,603
- Debts after one year -€76,183
down €76,183 (-31.2%), from €244,007 to €167,823
- Trade debts +€69,193
up €69,193 (+49.7%), from €139,135 to €208,327
- Other debts +€49,459
up €49,459 (+983.6%), from €5,028 to €54,487
- Tax, wage and social debts +€26,746
up €26,746 (+129.4%), from €20,667 to €47,413
of which Taxes: +€21,275
- Gross operating margin +€74,599
up €74,599 (+22.9%), from €325,370 to €399,968
- Staff costs +€24,956
up €24,956 (+37.0%), from €67,507 to €92,463
- Taxes +€21,217
up €21,217 (+48.2%), from €44,048 to €65,265
- Depreciation -€9,665
down €9,665 (-12.3%), from €78,878 to €69,213
- Write-downs -€6,750
down €6,750 (-78.5%), from €8,596 to €1,846
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 | €804,114 | €970,416 | +€166,303 | +20.7% |
| Fixed assets | 21/28 | €410,775 | €358,893 | -€51,882 | -12.6% |
| Intangible fixed assets | 21 | €1,105 | €522 | -€584 | -52.8% |
| Tangible fixed assets | 22/27 | €409,620 | €358,226 | -€51,393 | -12.5% |
| Land and buildings | 22 | €261,341 | €218,208 | -€43,133 | -16.5% |
| Plant, machinery and equipment | 23 | €1,385 | €3,836 | +€2,451 | +177.0% |
| Furniture and vehicles | 24 | €3,295 | €2,558 | -€737 | -22.4% |
| Other tangible fixed assets | 26 | €143,599 | €133,625 | -€9,974 | -6.9% |
| Financial fixed assets | 28 | €50 | €145 | +€95 | +190.0% |
| Current assets | 29/58 | €393,338 | €611,523 | +€218,185 | +55.5% |
| Stocks and contracts in progress | 3 | €173,726 | €201,065 | +€27,339 | +15.7% |
| Stocks | 30/36 | €173,726 | €201,065 | +€27,339 | +15.7% |
| Amounts receivable within one year | 40/41 | €99,287 | €172,905 | +€73,618 | +74.1% |
| Trade receivables | 40 | €88,059 | €172,579 | +€84,519 | +96.0% |
| Other amounts receivable | 41 | €11,228 | €326 | -€10,902 | -97.1% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €117,155 | €181,284 | +€64,129 | +54.7% |
| Deferred charges and accrued income | 490/1 | €3,170 | €6,269 | +€3,099 | +97.8% |
| Total equity and liabilities | 10/49 | €804,114 | €970,416 | +€166,303 | +20.7% |
| Equity | 10/15 | €321,506 | €416,182 | +€94,676 | +29.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €271,927 | €366,603 | +€94,676 | +34.8% |
| Distributable reserves | 133 | €271,927 | €366,603 | +€94,676 | +34.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €482,608 | €554,234 | +€71,626 | +14.8% |
| Amounts payable after more than one year | 17 | €244,007 | €167,823 | -€76,183 | -31.2% |
| Financial debts | 170/4 | €244,007 | €167,823 | -€76,183 | -31.2% |
| Amounts payable within one year | 42/48 | €238,601 | €386,411 | +€147,810 | +61.9% |
| Current portion of amounts payable after more than one year | 42 | €73,771 | €76,183 | +€2,412 | +3.3% |
| Trade debts | 44 | €139,135 | €208,327 | +€69,193 | +49.7% |
| Suppliers | 440/4 | €139,135 | €208,327 | +€69,193 | +49.7% |
| Taxes, remuneration and social security | 45 | €20,667 | €47,413 | +€26,746 | +129.4% |
| Taxes | 450/3 | €9,158 | €30,433 | +€21,275 | +232.3% |
| Remuneration and social security | 454/9 | €11,509 | €16,980 | +€5,471 | +47.5% |
| Other amounts payable | 47/48 | €5,028 | €54,487 | +€49,459 | +983.6% |
| Remuneration, social security and pensions | 62 | €67,507 | €92,463 | +€24,956 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,878 | €69,213 | -€9,665 | -12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,596 | €1,846 | -€6,750 | -78.5% |
| Other operating charges | 640/8 | €3,532 | €4,684 | +€1,151 | +32.6% |
| Gross operating margin | 9900 | €325,370 | €399,968 | +€74,599 | +22.9% |
| Operating profit (loss) | 9901 | €166,857 | €231,762 | +€64,905 | +38.9% |
| Financial income | 75/76B | €4,889 | €5,342 | +€453 | +9.3% |
| Recurring financial income | 75 | €4,889 | €5,342 | +€453 | +9.3% |
| Financial charges | 65/66B | €22,648 | €23,739 | +€1,091 | +4.8% |
| Recurring financial charges | 65 | €22,648 | €23,739 | +€1,091 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €149,097 | €213,364 | +€64,267 | +43.1% |
| Income taxes | 67/77 | €44,048 | €65,265 | +€21,217 | +48.2% |
| Profit (loss) for the period | 9904 | €105,049 | €148,100 | +€43,050 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €105,049 | €148,100 | +€43,050 | +41.0% |
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 8 October 2026 via checked.be.