Sygel: 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.
Sygel
Largest movements
- Current investments +€83,790
new in 2025: €83,790
- Cash -€46,363
down €46,363 (-73.7%), from €62,912 to €16,549
mainly Current investments (-€83,790) and Trade debts (-€8,201)
- Receivables within one year -€29,082
down €29,082 (-59.6%), from €48,819 to €19,737
- Trade debts -€8,201
down €8,201 (-76.8%), from €10,674 to €2,474
- Other debts +€7,159
up €7,159 (+49.2%), from €14,565 to €21,724
- Profit (loss) carried forward +€3,934
no longer reported in 2025 (was -€3,934)
- Reserves +€2,825
up €2,825 (+3.2%), from €87,187 to €90,012
- Accrued charges and deferred income +€2,638
up €2,638 (+35.5%), from €7,441 to €10,079
- Financial income +€34,012
up €34,012 (+137.1%), from €24,815 to €58,826
- Gross operating margin -€18,486
down €18,486 (-73.6%), from -€25,121 to -€43,608
- Taxes +€2,748
up €2,748 (+2028.8%), from €135 to €2,883
- Financial charges +€1,472
up €1,472 (+50.9%), from €2,891 to €4,362
- Depreciation +€673
up €673 (+3226.7%), from €21 to €694
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 | €115,933 | €124,572 | +€8,639 | +7.5% |
| Fixed assets | 21/28 | €2,061 | €1,367 | -€694 | -33.7% |
| Tangible fixed assets | 22/27 | €2,061 | €1,367 | -€694 | -33.7% |
| Furniture and vehicles | 24 | €2,061 | €1,367 | -€694 | -33.7% |
| Current assets | 29/58 | €113,872 | €123,205 | +€9,333 | +8.2% |
| Amounts receivable within one year | 40/41 | €48,819 | €19,737 | -€29,082 | -59.6% |
| Other amounts receivable | 41 | €48,819 | €19,737 | -€29,082 | -59.6% |
| Current investments | 50/53 | - | €83,790 | +€83,790 | |
| Cash at bank and in hand | 54/58 | €62,912 | €16,549 | -€46,363 | -73.7% |
| Deferred charges and accrued income | 490/1 | €2,142 | €3,130 | +€988 | +46.1% |
| Total equity and liabilities | 10/49 | €115,933 | €124,572 | +€8,639 | +7.5% |
| Equity | 10/15 | €83,253 | €90,013 | +€6,759 | +8.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €87,187 | €90,012 | +€2,825 | +3.2% |
| Distributable reserves | 133 | €87,187 | €90,012 | +€2,825 | +3.2% |
| Profit (loss) carried forward | 14 | -€3,934 | - | +€3,934 | |
| Amounts payable | 17/49 | €32,680 | €34,559 | +€1,879 | +5.8% |
| Amounts payable within one year | 42/48 | €25,239 | €24,481 | -€759 | -3.0% |
| Trade debts | 44 | €10,674 | €2,474 | -€8,201 | -76.8% |
| Suppliers | 440/4 | €10,674 | €2,474 | -€8,201 | -76.8% |
| Taxes, remuneration and social security | 45 | - | €283 | +€283 | |
| Taxes | 450/3 | - | €283 | +€283 | |
| Other amounts payable | 47/48 | €14,565 | €21,724 | +€7,159 | +49.2% |
| Accrued charges and deferred income | 492/3 | €7,441 | €10,079 | +€2,638 | +35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21 | €694 | +€673 | +3226.7% |
| Other operating charges | 640/8 | €581 | €520 | -€61 | -10.5% |
| Gross operating margin | 9900 | -€25,121 | -€43,608 | -€18,486 | -73.6% |
| Operating profit (loss) | 9901 | -€25,723 | -€44,821 | -€19,098 | -74.2% |
| Financial income | 75/76B | €24,815 | €58,826 | +€34,012 | +137.1% |
| Recurring financial income | 75 | €24,815 | €58,826 | +€34,012 | +137.1% |
| Financial charges | 65/66B | €2,891 | €4,362 | +€1,472 | +50.9% |
| Recurring financial charges | 65 | €2,891 | €4,362 | +€1,472 | +50.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,799 | €9,643 | +€13,441 | |
| Income taxes | 67/77 | €135 | €2,883 | +€2,748 | +2028.8% |
| Profit (loss) for the period | 9904 | -€3,934 | €6,759 | +€10,694 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,934 | €6,759 | +€10,694 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.