SYNDESIS ADVISORY: 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.
SYNDESIS ADVISORY
Largest movements
- Tangible fixed assets +€109,771
up €109,771 (+42.2%), from €260,123 to €369,894
of which Land and buildings: +€116,421
- Receivables within one year -€49,315
down €49,315 (-60.1%), from €81,988 to €32,673
of which Trade receivables: -€80,899
- Cash -€43,688
down €43,688 (-22.4%), from €194,734 to €151,046
mainly Contributions, distributions and other (-€299,999) and Investment in fixed assets (net) (-€132,116)
- Profit (loss) carried forward +€130,157
up €130,157 (+44.6%), from €291,894 to €422,051
- Other debts -€78,847
down €78,847 (-90.3%), from €87,350 to €8,503
- Tax, wage and social debts -€15,195
down €15,195 (-70.4%), from €21,595 to €6,400
- Debts after one year -€13,585
down €13,585 (-14.0%), from €96,979 to €83,394
- Trade debts -€5,667
down €5,667 (-88.5%), from €6,405 to €738
- Gross operating margin +€564,940
up €564,940 (+242%), from €233,694 to €798,634
- Write-downs +€203,002
new in 2025: €203,002
- Taxes +€97,618
up €97,618 (+236%), from €41,400 to €139,018
- Financial charges -€37,542
down €37,542 (-93.2%), from €40,301 to €2,759
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 | €537,489 | €554,671 | +€17,182 | +3.2% |
| Fixed assets | 21/28 | €260,123 | €369,894 | +€109,771 | +42.2% |
| Tangible fixed assets | 22/27 | €260,123 | €369,894 | +€109,771 | +42.2% |
| Land and buildings | 22 | €120,637 | €237,058 | +€116,421 | +96.5% |
| Plant, machinery and equipment | 23 | €118,094 | €112,151 | -€5,943 | -5.0% |
| Furniture and vehicles | 24 | €18,369 | €18,162 | -€207 | -1.1% |
| Other tangible fixed assets | 26 | €3,023 | €2,523 | -€500 | -16.5% |
| Current assets | 29/58 | €277,366 | €184,777 | -€92,589 | -33.4% |
| Amounts receivable within one year | 40/41 | €81,988 | €32,673 | -€49,315 | -60.1% |
| Trade receivables | 40 | €80,899 | - | -€80,899 | |
| Other amounts receivable | 41 | €1,089 | €32,673 | +€31,584 | +2,900% |
| Cash at bank and in hand | 54/58 | €194,734 | €151,046 | -€43,688 | -22.4% |
| Deferred charges and accrued income | 490/1 | €644 | €1,058 | +€414 | +64.3% |
| Total equity and liabilities | 10/49 | €537,489 | €554,671 | +€17,182 | +3.2% |
| Equity | 10/15 | €311,894 | €442,051 | +€130,157 | +41.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €291,894 | €422,051 | +€130,157 | +44.6% |
| Amounts payable | 17/49 | €225,595 | €112,620 | -€112,975 | -50.1% |
| Amounts payable after more than one year | 17 | €96,979 | €83,394 | -€13,585 | -14.0% |
| Financial debts | 170/4 | €96,979 | €83,394 | -€13,585 | -14.0% |
| Amounts payable within one year | 42/48 | €128,616 | €29,226 | -€99,390 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €13,266 | €13,585 | +€319 | +2.4% |
| Trade debts | 44 | €6,405 | €738 | -€5,667 | -88.5% |
| Suppliers | 440/4 | €6,405 | €738 | -€5,667 | -88.5% |
| Taxes, remuneration and social security | 45 | €21,595 | €6,400 | -€15,195 | -70.4% |
| Taxes | 450/3 | €21,595 | €6,400 | -€15,195 | -70.4% |
| Other amounts payable | 47/48 | €87,350 | €8,503 | -€78,847 | -90.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,178 | €22,345 | +€4,167 | +22.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €203,002 | +€203,002 | |
| Other operating charges | 640/8 | €1,315 | €1,357 | +€42 | +3.2% |
| Gross operating margin | 9900 | €233,694 | €798,634 | +€564,940 | +242% |
| Operating profit (loss) | 9901 | €214,201 | €571,930 | +€357,729 | +167% |
| Financial income | 75/76B | €1 | €3 | +€2 | +200% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +200% |
| Financial charges | 65/66B | €40,301 | €2,759 | -€37,542 | -93.2% |
| Recurring financial charges | 65 | €40,301 | €2,759 | -€37,542 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €173,901 | €569,174 | +€395,273 | +227% |
| Income taxes | 67/77 | €41,400 | €139,018 | +€97,618 | +236% |
| Profit (loss) for the period | 9904 | €132,501 | €430,156 | +€297,655 | +225% |
| Profit (loss) for the period to be appropriated | 9905 | €132,501 | €430,156 | +€297,655 | +225% |
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 25 October 2026 via checked.be.