SYNACO: 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.
SYNACO
Largest movements
- Stocks and contracts -€75,013
down €75,013 (-15.1%), from €495,703 to €420,690
- Tangible fixed assets -€72,804
down €72,804 (-21.9%), from €333,089 to €260,285
of which Land and buildings: -€46,113
- Receivables within one year -€24,776
down €24,776 (-5.3%), from €467,795 to €443,018
of which Other amounts receivable: -€25,117
- Profit (loss) carried forward -€117,316
down €117,316 (-35.5%), from €330,815 to €213,499
- Debts after one year -€36,819
down €36,819 (-17.0%), from €216,671 to €179,851
- Trade debts -€18,898
down €18,898 (-8.9%), from €212,942 to €194,043
- Tax, wage and social debts +€17,215
up €17,215 (+59.1%), from €29,109 to €46,323
of which Remuneration and social security: +€9,406
- Gross operating margin -€73,986
down €73,986 (-15.6%), from €473,106 to €399,120
- Staff costs +€20,460
up €20,460 (+6.1%), from €333,978 to €354,439
- Write-downs +€19,333
up €19,333 (+77.2%), from €25,040 to €44,373
- Financial charges -€6,420
down €6,420 (-17.2%), from €37,319 to €30,899
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 | €1,383,644 | €1,217,542 | -€166,102 | -12.0% |
| Formation expenses | 20 | €6,017 | €3,477 | -€2,540 | -42.2% |
| Fixed assets | 21/28 | €333,439 | €260,635 | -€72,804 | -21.8% |
| Tangible fixed assets | 22/27 | €333,089 | €260,285 | -€72,804 | -21.9% |
| Land and buildings | 22 | €234,085 | €187,972 | -€46,113 | -19.7% |
| Plant, machinery and equipment | 23 | €47,738 | €42,879 | -€4,859 | -10.2% |
| Furniture and vehicles | 24 | €51,266 | €29,434 | -€21,832 | -42.6% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €1,044,189 | €953,430 | -€90,759 | -8.7% |
| Stocks and contracts in progress | 3 | €495,703 | €420,690 | -€75,013 | -15.1% |
| Stocks | 30/36 | €495,703 | €420,690 | -€75,013 | -15.1% |
| Amounts receivable within one year | 40/41 | €467,795 | €443,018 | -€24,776 | -5.3% |
| Trade receivables | 40 | €422,109 | €422,450 | +€341 | +0.1% |
| Other amounts receivable | 41 | €45,685 | €20,568 | -€25,117 | -55.0% |
| Cash at bank and in hand | 54/58 | €67,450 | €77,299 | +€9,849 | +14.6% |
| Deferred charges and accrued income | 490/1 | €13,241 | €12,423 | -€818 | -6.2% |
| Total equity and liabilities | 10/49 | €1,383,644 | €1,217,542 | -€166,102 | -12.0% |
| Equity | 10/15 | €526,159 | €408,843 | -€117,316 | -22.3% |
| Contributions | 10/11 | €181,948 | €181,948 | = | 0.0% |
| Capital | 10 | €181,948 | €181,948 | = | 0.0% |
| Issued capital | 100 | €181,948 | €181,948 | = | 0.0% |
| Reserves | 13 | €13,395 | €13,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,395 | €13,395 | = | 0.0% |
| Legal reserve | 130 | €13,395 | €13,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €330,815 | €213,499 | -€117,316 | -35.5% |
| Amounts payable | 17/49 | €857,486 | €808,699 | -€48,786 | -5.7% |
| Amounts payable after more than one year | 17 | €216,671 | €179,851 | -€36,819 | -17.0% |
| Financial debts | 170/4 | €216,671 | €179,851 | -€36,819 | -17.0% |
| Amounts payable within one year | 42/48 | €640,815 | €628,848 | -€11,967 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €38,409 | €28,073 | -€10,337 | -26.9% |
| Financial debts | 43 | €360,000 | €360,000 | = | 0.0% |
| Credit institutions | 430/8 | €360,000 | €360,000 | = | 0.0% |
| Trade debts | 44 | €212,942 | €194,043 | -€18,898 | -8.9% |
| Suppliers | 440/4 | €212,942 | €194,043 | -€18,898 | -8.9% |
| Taxes, remuneration and social security | 45 | €29,109 | €46,323 | +€17,215 | +59.1% |
| Taxes | 450/3 | €453 | €8,262 | +€7,809 | +1,724% |
| Remuneration and social security | 454/9 | €28,656 | €38,061 | +€9,406 | +32.8% |
| Other amounts payable | 47/48 | €355 | €409 | +€54 | +15.1% |
| Remuneration, social security and pensions | 62 | €333,978 | €354,439 | +€20,460 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,113 | €84,073 | +€1,960 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,040 | €44,373 | +€19,333 | +77.2% |
| Other operating charges | 640/8 | €2,706 | €2,841 | +€135 | +5.0% |
| Gross operating margin | 9900 | €473,106 | €399,120 | -€73,986 | -15.6% |
| Operating profit (loss) | 9901 | €29,269 | -€86,606 | -€115,875 | |
| Financial income | 75/76B | €1,013 | €613 | -€400 | -39.5% |
| Recurring financial income | 75 | €1,013 | €613 | -€400 | -39.5% |
| Financial charges | 65/66B | €37,319 | €30,899 | -€6,420 | -17.2% |
| Recurring financial charges | 65 | €37,319 | €30,899 | -€6,420 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,038 | -€116,892 | -€109,855 | -1,561% |
| Income taxes | 67/77 | €453 | €424 | -€29 | -6.5% |
| Profit (loss) for the period | 9904 | -€7,491 | -€117,316 | -€109,825 | -1,466% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,491 | -€117,316 | -€109,825 | -1,466% |
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 16 October 2026 via checked.be.