Sydec: 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.
Sydec
Largest movements
- Receivables within one year +€7,972
up €7,972 (+228%), from €3,502 to €11,474
- Cash -€6,186
down €6,186 (-13.4%), from €46,017 to €39,831
mainly Debts after one year (-€11,683) and Receivables within one year (-€7,972)
- Tangible fixed assets -€5,718
down €5,718 (-12.7%), from €44,987 to €39,269
of which Furniture and vehicles: -€5,552
- Deferred charges and accrued income -€1,756
down €1,756 (-45.0%), from €3,901 to €2,145
- Debts after one year -€11,683
down €11,683 (-32.4%), from €36,022 to €24,339
- Reserves +€4,200
up €4,200 (+16.3%), from €25,800 to €30,000
- Tax, wage and social debts +€3,807
up €3,807 (+31.4%), from €12,123 to €15,930
of which Remuneration and social security: +€2,122
- Other debts -€2,269
down €2,269 (-32.2%), from €7,055 to €4,786
- Gross operating margin -€32,892
down €32,892 (-63.1%), from €52,126 to €19,234
- Taxes -€8,418
down €8,418 (-82.0%), from €10,264 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.
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 | €98,407 | €92,719 | -€5,689 | -5.8% |
| Fixed assets | 21/28 | €44,987 | €39,269 | -€5,718 | -12.7% |
| Tangible fixed assets | 22/27 | €44,987 | €39,269 | -€5,718 | -12.7% |
| Plant, machinery and equipment | 23 | €1,503 | €1,337 | -€166 | -11.0% |
| Furniture and vehicles | 24 | €43,484 | €37,932 | -€5,552 | -12.8% |
| Current assets | 29/58 | €53,420 | €53,450 | +€30 | +0.1% |
| Amounts receivable within one year | 40/41 | €3,502 | €11,474 | +€7,972 | +228% |
| Trade receivables | 40 | €3,502 | €11,474 | +€7,972 | +228% |
| Cash at bank and in hand | 54/58 | €46,017 | €39,831 | -€6,186 | -13.4% |
| Deferred charges and accrued income | 490/1 | €3,901 | €2,145 | -€1,756 | -45.0% |
| Total equity and liabilities | 10/49 | €98,407 | €92,719 | -€5,689 | -5.8% |
| Equity | 10/15 | €30,944 | €35,342 | +€4,398 | +14.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,800 | €30,000 | +€4,200 | +16.3% |
| Distributable reserves | 133 | €25,800 | €30,000 | +€4,200 | +16.3% |
| Profit (loss) carried forward | 14 | €144 | €342 | +€198 | +137% |
| Amounts payable | 17/49 | €67,463 | €57,377 | -€10,087 | -15.0% |
| Amounts payable after more than one year | 17 | €36,022 | €24,339 | -€11,683 | -32.4% |
| Financial debts | 170/4 | €36,022 | €24,339 | -€11,683 | -32.4% |
| Amounts payable within one year | 42/48 | €31,441 | €33,038 | +€1,596 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €11,683 | €11,683 | = | 0.0% |
| Trade debts | 44 | €580 | €638 | +€58 | +10.0% |
| Suppliers | 440/4 | €580 | €638 | +€58 | +10.0% |
| Taxes, remuneration and social security | 45 | €12,123 | €15,930 | +€3,807 | +31.4% |
| Taxes | 450/3 | €12,123 | €13,808 | +€1,685 | +13.9% |
| Remuneration and social security | 454/9 | - | €2,122 | +€2,122 | |
| Other amounts payable | 47/48 | €7,055 | €4,786 | -€2,269 | -32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,749 | €11,232 | +€483 | +4.5% |
| Other operating charges | 640/8 | €277 | €225 | -€51 | -18.5% |
| Gross operating margin | 9900 | €52,126 | €19,234 | -€32,892 | -63.1% |
| Operating profit (loss) | 9901 | €41,101 | €7,777 | -€33,324 | -81.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,892 | €1,535 | -€357 | -18.9% |
| Recurring financial charges | 65 | €1,892 | €1,535 | -€357 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €39,209 | €6,244 | -€32,965 | -84.1% |
| Income taxes | 67/77 | €10,264 | €1,846 | -€8,418 | -82.0% |
| Profit (loss) for the period | 9904 | €28,944 | €4,398 | -€24,546 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,944 | €4,398 | -€24,546 | -84.8% |
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 30 October 2026 via checked.be.