SYFECO: 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.
SYFECO
Largest movements
- Tangible fixed assets +€208,861
up €208,861 (+10.5%), from €2.0m to €2.2m
of which Land and buildings: +€175,406
- Cash +€75,603
up €75,603 (+217.9%), from €34,694 to €110,297
mainly Debts after one year (+€268,590) and Depreciation (+€52,119)
- Debts after one year +€268,590
up €268,590 (+24.0%), from €1.1m to €1.4m
- Profit (loss) carried forward +€50,512
up €50,512 (+14.8%), from €342,382 to €392,894
- Reserves -€37,159
down €37,159 (-9.1%), from €407,681 to €370,521
of which Tax-exempt reserves: -€37,159
- Depreciation +€35,252
up €35,252 (+209.0%), from €16,867 to €52,119
- Gross operating margin +€18,855
up €18,855 (+20.5%), from €91,854 to €110,709
- Taxes +€5,596
up €5,596 (+43.8%), from €12,791 to €18,388
- Other operating charges -€2,153
down €2,153 (-18.9%), from €11,390 to €9,236
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 | €2,034,012 | €2,314,411 | +€280,399 | +13.8% |
| Fixed assets | 21/28 | €1,987,769 | €2,196,631 | +€208,861 | +10.5% |
| Tangible fixed assets | 22/27 | €1,987,769 | €2,196,631 | +€208,861 | +10.5% |
| Land and buildings | 22 | €1,903,085 | €2,078,491 | +€175,406 | +9.2% |
| Furniture and vehicles | 24 | €84,685 | €118,140 | +€33,455 | +39.5% |
| Current assets | 29/58 | €46,243 | €117,780 | +€71,538 | +154.7% |
| Amounts receivable within one year | 40/41 | €11,549 | €7,483 | -€4,066 | -35.2% |
| Trade receivables | 40 | €4,066 | - | -€4,066 | |
| Other amounts receivable | 41 | €7,483 | €7,483 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,694 | €110,297 | +€75,603 | +217.9% |
| Total equity and liabilities | 10/49 | €2,034,012 | €2,314,411 | +€280,399 | +13.8% |
| Equity | 10/15 | €758,739 | €772,092 | +€13,353 | +1.8% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €407,681 | €370,521 | -€37,159 | -9.1% |
| Tax-exempt reserves | 132 | €374,173 | €337,014 | -€37,159 | -9.9% |
| Distributable reserves | 133 | €33,508 | €33,508 | = | 0.0% |
| Profit (loss) carried forward | 14 | €342,382 | €392,894 | +€50,512 | +14.8% |
| Provisions and deferred taxes | 16 | €124,724 | €112,338 | -€12,386 | -9.9% |
| Deferred taxes | 168 | €124,724 | €112,338 | -€12,386 | -9.9% |
| Amounts payable | 17/49 | €1,150,549 | €1,429,981 | +€279,432 | +24.3% |
| Amounts payable after more than one year | 17 | €1,118,347 | €1,386,938 | +€268,590 | +24.0% |
| Other amounts payable | 178/9 | €1,118,347 | €1,386,938 | +€268,590 | +24.0% |
| Amounts payable within one year | 42/48 | €32,119 | €43,044 | +€10,925 | +34.0% |
| Financial debts | 43 | €10,060 | €10,994 | +€934 | +9.3% |
| Other loans | 439 | €10,060 | €10,994 | +€934 | +9.3% |
| Trade debts | 44 | €1,773 | €13,662 | +€11,889 | +670.5% |
| Suppliers | 440/4 | €1,773 | €13,662 | +€11,889 | +670.5% |
| Taxes, remuneration and social security | 45 | €20,285 | €18,388 | -€1,898 | -9.4% |
| Taxes | 450/3 | €20,285 | €18,388 | -€1,898 | -9.4% |
| Accrued charges and deferred income | 492/3 | €83 | - | -€83 | |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,867 | €52,119 | +€35,252 | +209.0% |
| Other operating charges | 640/8 | €11,390 | €9,236 | -€2,153 | -18.9% |
| Non-recurring operating charges | 66A | - | €2,513 | +€2,513 | |
| Gross operating margin | 9900 | €91,854 | €110,709 | +€18,855 | +20.5% |
| Operating profit (loss) | 9901 | €63,597 | €46,841 | -€16,756 | -26.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €28,225 | €27,487 | -€738 | -2.6% |
| Recurring financial charges | 65 | €28,225 | €27,487 | -€738 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €35,372 | €19,354 | -€16,018 | -45.3% |
| Transfer from deferred taxes | 780 | €3,948 | €12,386 | +€8,438 | +213.7% |
| Income taxes | 67/77 | €12,791 | €18,388 | +€5,596 | +43.8% |
| Profit (loss) for the period | 9904 | €26,529 | €13,353 | -€13,176 | -49.7% |
| Transfer from tax-exempt reserves | 789 | €11,845 | €37,159 | +€25,314 | +213.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,374 | €50,512 | +€12,138 | +31.6% |
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 3 October 2026 via checked.be.