SYCAMORE: 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.
SYCAMORE
Largest movements
- Cash +€178,367
up €178,367 (+101.8%), from €175,171 to €353,538
mainly Net result for the year (+€129,696) and Tax, wage and social debts (+€42,567)
- Tangible fixed assets +€29,495
up €29,495 (+132.9%), from €22,187 to €51,683
of which Furniture and vehicles: +€29,561
- Receivables within one year -€21,797
down €21,797 (-36.6%), from €59,581 to €37,784
of which Trade receivables: -€17,555
- Current investments +€17,000
up €17,000 (+11.7%), from €145,000 to €162,000
- Reserves +€129,696
up €129,696 (+37.2%), from €348,947 to €478,643
- Tax, wage and social debts +€42,567
up €42,567 (+279.7%), from €15,217 to €57,784
of which Taxes: +€42,567
- Debts after one year +€20,231
up €20,231 (+163.6%), from €12,368 to €32,599
- Other debts +€12,815
up €12,815 (+152.9%), from €8,379 to €21,194
- Depreciation -€9,260
down €9,260 (-80.4%), from €11,519 to €2,259
- Gross operating margin +€6,754
up €6,754 (+3.7%), from €182,784 to €189,538
- Financial income +€4,857
up €4,857 (+258.2%), from €1,881 to €6,738
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 | €405,126 | €608,308 | +€203,182 | +50.2% |
| Fixed assets | 21/28 | €22,187 | €51,683 | +€29,495 | +132.9% |
| Tangible fixed assets | 22/27 | €22,187 | €51,683 | +€29,495 | +132.9% |
| Plant, machinery and equipment | 23 | €266 | €200 | -€66 | -24.8% |
| Furniture and vehicles | 24 | €21,921 | €51,482 | +€29,561 | +134.9% |
| Current assets | 29/58 | €382,939 | €556,626 | +€173,687 | +45.4% |
| Amounts receivable within one year | 40/41 | €59,581 | €37,784 | -€21,797 | -36.6% |
| Trade receivables | 40 | €53,240 | €35,685 | -€17,555 | -33.0% |
| Other amounts receivable | 41 | €6,341 | €2,099 | -€4,242 | -66.9% |
| Current investments | 50/53 | €145,000 | €162,000 | +€17,000 | +11.7% |
| Cash at bank and in hand | 54/58 | €175,171 | €353,538 | +€178,367 | +101.8% |
| Deferred charges and accrued income | 490/1 | €3,188 | €3,304 | +€117 | +3.7% |
| Total equity and liabilities | 10/49 | €405,126 | €608,308 | +€203,182 | +50.2% |
| Equity | 10/15 | €353,947 | €483,643 | +€129,696 | +36.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €348,947 | €478,643 | +€129,696 | +37.2% |
| Distributable reserves | 133 | €348,947 | €478,643 | +€129,696 | +37.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,180 | €124,666 | +€73,486 | +143.6% |
| Amounts payable after more than one year | 17 | €12,368 | €32,599 | +€20,231 | +163.6% |
| Financial debts | 170/4 | €12,368 | €32,599 | +€20,231 | +163.6% |
| Amounts payable within one year | 42/48 | €37,674 | €91,718 | +€54,044 | +143.5% |
| Current portion of amounts payable after more than one year | 42 | €12,855 | €10,537 | -€2,319 | -18.0% |
| Trade debts | 44 | €1,223 | €2,202 | +€980 | +80.1% |
| Suppliers | 440/4 | €1,223 | €2,202 | +€980 | +80.1% |
| Taxes, remuneration and social security | 45 | €15,217 | €57,784 | +€42,567 | +279.7% |
| Taxes | 450/3 | €15,217 | €57,784 | +€42,567 | +279.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,379 | €21,194 | +€12,815 | +152.9% |
| Accrued charges and deferred income | 492/3 | €1,138 | €349 | -€788 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,519 | €2,259 | -€9,260 | -80.4% |
| Other operating charges | 640/8 | €0 | €62 | +€62 | |
| Non-recurring operating charges | 66A | - | €7,681 | +€7,681 | |
| Gross operating margin | 9900 | €182,784 | €189,538 | +€6,754 | +3.7% |
| Operating profit (loss) | 9901 | €171,265 | €179,536 | +€8,271 | +4.8% |
| Financial income | 75/76B | €1,881 | €6,738 | +€4,857 | +258.2% |
| Recurring financial income | 75 | €1,881 | €6,738 | +€4,857 | +258.2% |
| Financial charges | 65/66B | €848 | €497 | -€351 | -41.3% |
| Recurring financial charges | 65 | €848 | €497 | -€351 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €172,298 | €185,776 | +€13,478 | +7.8% |
| Income taxes | 67/77 | €54,223 | €56,080 | +€1,858 | +3.4% |
| Profit (loss) for the period | 9904 | €118,075 | €129,696 | +€11,621 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,075 | €129,696 | +€11,621 | +9.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.