SYNDIC L9: 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.
SYNDIC L9
Largest movements
- Receivables within one year +€59,687
up €59,687 (+41.8%), from €142,917 to €202,604
of which Other amounts receivable: +€37,055
- Tangible fixed assets -€4,625
down €4,625 (-34.5%), from €13,423 to €8,797
of which Furniture and vehicles: -€4,314
- Deferred charges and accrued income +€3,852
up €3,852 (+75.6%), from €5,096 to €8,948
- Trade debts +€25,481
up €25,481 (+30.9%), from €82,553 to €108,033
- Other debts +€24,694
up €24,694, from €0 to €24,694
- Accrued charges and deferred income +€16,052
up €16,052 (+1,010%), from €1,589 to €17,641
- Debts after one year -€11,425
down €11,425 (-30.2%), from €37,817 to €26,392
- Tax, wage and social debts -€8,151
down €8,151 (-8.7%), from €93,361 to €85,210
of which Remuneration and social security: -€13,058
- Gross operating margin +€54,468
up €54,468 (+13.6%), from €401,942 to €456,410
- Financial charges -€41,229
down €41,229 (-77.9%), from €52,943 to €11,714
- Staff costs +€14,442
up €14,442 (+4.0%), from €358,311 to €372,754
- Taxes +€6,427
up €6,427 (+1,071%), from €600 to €7,028
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 | €297,584 | €355,416 | +€57,832 | +19.4% |
| Fixed assets | 21/28 | €47,769 | €40,564 | -€7,205 | -15.1% |
| Intangible fixed assets | 21 | €31,997 | €29,762 | -€2,235 | -7.0% |
| Tangible fixed assets | 22/27 | €13,423 | €8,797 | -€4,625 | -34.5% |
| Plant, machinery and equipment | 23 | €311 | €0 | -€311 | -100% |
| Furniture and vehicles | 24 | €13,112 | €8,797 | -€4,314 | -32.9% |
| Financial fixed assets | 28 | €2,350 | €2,005 | -€345 | -14.7% |
| Current assets | 29/58 | €249,815 | €314,853 | +€65,037 | +26.0% |
| Amounts receivable after more than one year | 29 | €100,525 | €100,525 | = | 0.0% |
| Trade receivables | 290 | €100,525 | €100,525 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €142,917 | €202,604 | +€59,687 | +41.8% |
| Trade receivables | 40 | €115,083 | €137,715 | +€22,632 | +19.7% |
| Other amounts receivable | 41 | €27,833 | €64,888 | +€37,055 | +133% |
| Cash at bank and in hand | 54/58 | €1,277 | €2,776 | +€1,498 | +117% |
| Deferred charges and accrued income | 490/1 | €5,096 | €8,948 | +€3,852 | +75.6% |
| Total equity and liabilities | 10/49 | €297,584 | €355,416 | +€57,832 | +19.4% |
| Equity | 10/15 | €25,067 | €32,057 | +€6,990 | +27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,607 | €11,597 | +€6,990 | +152% |
| Amounts payable | 17/49 | €272,518 | €323,359 | +€50,842 | +18.7% |
| Amounts payable after more than one year | 17 | €37,817 | €26,392 | -€11,425 | -30.2% |
| Financial debts | 170/4 | €37,817 | €26,392 | -€11,425 | -30.2% |
| Amounts payable within one year | 42/48 | €233,112 | €279,326 | +€46,214 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €12,822 | €11,425 | -€1,397 | -10.9% |
| Financial debts | 43 | €44,376 | €49,964 | +€5,588 | +12.6% |
| Credit institutions | 430/8 | €44,376 | €49,964 | +€5,588 | +12.6% |
| Trade debts | 44 | €82,553 | €108,033 | +€25,481 | +30.9% |
| Suppliers | 440/4 | €82,553 | €108,033 | +€25,481 | +30.9% |
| Taxes, remuneration and social security | 45 | €93,361 | €85,210 | -€8,151 | -8.7% |
| Taxes | 450/3 | €34,757 | €39,664 | +€4,907 | +14.1% |
| Remuneration and social security | 454/9 | €58,604 | €45,546 | -€13,058 | -22.3% |
| Other amounts payable | 47/48 | €0 | €24,694 | +€24,694 | |
| Accrued charges and deferred income | 492/3 | €1,589 | €17,641 | +€16,052 | +1,010% |
| Remuneration, social security and pensions | 62 | €358,311 | €372,754 | +€14,442 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,433 | €29,932 | -€2,500 | -7.7% |
| Other operating charges | 640/8 | €2,590 | €2,821 | +€232 | +9.0% |
| Gross operating margin | 9900 | €401,942 | €456,410 | +€54,468 | +13.6% |
| Operating profit (loss) | 9901 | €8,609 | €50,902 | +€42,294 | +491% |
| Financial income | 75/76B | €5,963 | €4,830 | -€1,133 | -19.0% |
| Recurring financial income | 75 | €5,963 | €4,830 | -€1,133 | -19.0% |
| Financial charges | 65/66B | €52,943 | €11,714 | -€41,229 | -77.9% |
| Recurring financial charges | 65 | €52,943 | €11,714 | -€41,229 | -77.9% |
| Profit (loss) for the period before taxes | 9903 | -€38,371 | €44,018 | +€82,390 | |
| Income taxes | 67/77 | €600 | €7,028 | +€6,427 | +1,071% |
| Profit (loss) for the period | 9904 | -€38,972 | €36,990 | +€75,962 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,972 | €36,990 | +€75,962 |
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.