SynCap Belgium: 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.
SynCap Belgium
Largest movements
- Cash +€258,061
up €258,061 (+720%), from €35,864 to €293,925
mainly Receivables within one year (+€186,269) and Trade debts (+€125,348)
- Receivables within one year -€186,269
down €186,269 (-43.5%), from €427,735 to €241,466
of which Trade receivables: -€216,412
- Tangible fixed assets +€7,920
up €7,920 (+492%), from €1,611 to €9,531
of which Furniture and vehicles: +€3,980
- Trade debts +€125,348
up €125,348 (+47.3%), from €265,125 to €390,473
- Other debts -€67,273
down €67,273 (-68.6%), from €98,010 to €30,737
- Tax, wage and social debts +€17,613
up €17,613 (+37.7%), from €46,686 to €64,300
of which Remuneration and social security: +€10,000
- Staff costs +€82,612
up €82,612 (+56.9%), from €145,157 to €227,768
- Gross operating margin +€76,546
up €76,546 (+36.1%), from €212,180 to €288,726
- Depreciation +€4,044
up €4,044 (+3,111%), from €130 to €4,174
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 | €516,330 | €596,481 | +€80,151 | +15.5% |
| Fixed assets | 21/28 | €52,012 | €59,932 | +€7,920 | +15.2% |
| Tangible fixed assets | 22/27 | €1,611 | €9,531 | +€7,920 | +492% |
| Plant, machinery and equipment | 23 | €1,611 | €5,551 | +€3,941 | +245% |
| Furniture and vehicles | 24 | - | €3,980 | +€3,980 | |
| Financial fixed assets | 28 | €50,401 | €50,401 | = | 0.0% |
| Current assets | 29/58 | €464,319 | €536,549 | +€72,230 | +15.6% |
| Amounts receivable within one year | 40/41 | €427,735 | €241,466 | -€186,269 | -43.5% |
| Trade receivables | 40 | €427,735 | €211,323 | -€216,412 | -50.6% |
| Other amounts receivable | 41 | €0 | €30,143 | +€30,143 | |
| Cash at bank and in hand | 54/58 | €35,864 | €293,925 | +€258,061 | +720% |
| Deferred charges and accrued income | 490/1 | €719 | €1,158 | +€438 | +60.9% |
| Total equity and liabilities | 10/49 | €516,330 | €596,481 | +€80,151 | +15.5% |
| Equity | 10/15 | €106,121 | €110,971 | +€4,850 | +4.6% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €607 | €607 | = | 0.0% |
| Distributable reserves | 133 | €607 | €607 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,914 | €41,763 | +€4,850 | +13.1% |
| Amounts payable | 17/49 | €410,209 | €485,510 | +€75,301 | +18.4% |
| Amounts payable within one year | 42/48 | €409,822 | €485,510 | +€75,688 | +18.5% |
| Trade debts | 44 | €265,125 | €390,473 | +€125,348 | +47.3% |
| Suppliers | 440/4 | €265,125 | €390,473 | +€125,348 | +47.3% |
| Taxes, remuneration and social security | 45 | €46,686 | €64,300 | +€17,613 | +37.7% |
| Taxes | 450/3 | €30,882 | €38,495 | +€7,613 | +24.7% |
| Remuneration and social security | 454/9 | €15,804 | €25,805 | +€10,000 | +63.3% |
| Other amounts payable | 47/48 | €98,010 | €30,737 | -€67,273 | -68.6% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Remuneration, social security and pensions | 62 | €145,157 | €227,768 | +€82,612 | +56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €4,174 | +€4,044 | +3,111% |
| Other operating charges | 640/8 | €118 | €768 | +€650 | +551% |
| Gross operating margin | 9900 | €212,180 | €288,726 | +€76,546 | +36.1% |
| Operating profit (loss) | 9901 | €66,775 | €56,015 | -€10,760 | -16.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €362 | €2,087 | +€1,725 | +477% |
| Recurring financial charges | 65 | €362 | €2,087 | +€1,725 | +477% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €66,414 | €53,928 | -€12,485 | -18.8% |
| Income taxes | 67/77 | €19,825 | €18,671 | -€1,154 | -5.8% |
| Profit (loss) for the period | 9904 | €46,589 | €35,258 | -€11,331 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,589 | €35,258 | -€11,331 | -24.3% |
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 26 October 2026 via checked.be.