SYNDIC SOLUTIONS: 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 SOLUTIONS
Largest movements
- Current investments -€48,797
down €48,797 (-23.8%), from €205,426 to €156,629
- Cash -€31,393
down €31,393 (-22.8%), from €137,771 to €106,378
mainly Contributions, distributions and other (-€181,584) and Investment in fixed assets (net) (-€12,917)
- Tangible fixed assets -€17,899
down €17,899 (-27.2%), from €65,849 to €47,950
of which Furniture and vehicles: -€19,483
- Receivables within one year +€7,832
up €7,832 (+48.1%), from €16,284 to €24,116
of which Trade receivables: +€11,715
- Reserves -€116,690
down €116,690 (-42.0%), from €277,864 to €161,174
- Tax, wage and social debts +€16,073
up €16,073 (+29.5%), from €54,403 to €70,476
of which Taxes: +€11,559
- Gross operating margin +€71,923
up €71,923 (+13.2%), from €543,575 to €615,498
- Staff costs +€42,220
up €42,220 (+9.6%), from €440,666 to €482,886
- Depreciation -€12,165
down €12,165 (-27.8%), from €43,751 to €31,586
- Taxes +€12,111
up €12,111 (+59.9%), from €20,207 to €32,317
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 | €443,929 | €348,748 | -€95,181 | -21.4% |
| Fixed assets | 21/28 | €69,552 | €50,883 | -€18,669 | -26.8% |
| Intangible fixed assets | 21 | €3,704 | €2,933 | -€770 | -20.8% |
| Tangible fixed assets | 22/27 | €65,849 | €47,950 | -€17,899 | -27.2% |
| Land and buildings | 22 | €5,553 | €5,304 | -€249 | -4.5% |
| Plant, machinery and equipment | 23 | €4,636 | €8,551 | +€3,915 | +84.5% |
| Furniture and vehicles | 24 | €52,491 | €33,008 | -€19,483 | -37.1% |
| Other tangible fixed assets | 26 | €3,168 | €1,086 | -€2,082 | -65.7% |
| Current assets | 29/58 | €374,377 | €297,865 | -€76,512 | -20.4% |
| Amounts receivable within one year | 40/41 | €16,284 | €24,116 | +€7,832 | +48.1% |
| Trade receivables | 40 | €1,581 | €13,296 | +€11,715 | +741.0% |
| Other amounts receivable | 41 | €14,703 | €10,820 | -€3,883 | -26.4% |
| Current investments | 50/53 | €205,426 | €156,629 | -€48,797 | -23.8% |
| Cash at bank and in hand | 54/58 | €137,771 | €106,378 | -€31,393 | -22.8% |
| Deferred charges and accrued income | 490/1 | €14,896 | €10,741 | -€4,154 | -27.9% |
| Total equity and liabilities | 10/49 | €443,929 | €348,748 | -€95,181 | -21.4% |
| Equity | 10/15 | €296,030 | €179,774 | -€116,256 | -39.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €277,864 | €161,174 | -€116,690 | -42.0% |
| Distributable reserves | 133 | €277,864 | €161,174 | -€116,690 | -42.0% |
| Profit (loss) carried forward | 14 | -€434 | €0 | +€434 | |
| Amounts payable | 17/49 | €147,899 | €168,974 | +€21,075 | +14.2% |
| Amounts payable within one year | 42/48 | €146,540 | €168,974 | +€22,433 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €2,217 | €1,966 | -€252 | -11.4% |
| Credit institutions | 430/8 | €2,217 | €1,966 | -€252 | -11.4% |
| Trade debts | 44 | €21,543 | €24,345 | +€2,802 | +13.0% |
| Suppliers | 440/4 | €21,543 | €24,345 | +€2,802 | +13.0% |
| Taxes, remuneration and social security | 45 | €54,403 | €70,476 | +€16,073 | +29.5% |
| Taxes | 450/3 | €11,705 | €23,264 | +€11,559 | +98.8% |
| Remuneration and social security | 454/9 | €42,698 | €47,211 | +€4,513 | +10.6% |
| Other amounts payable | 47/48 | €68,378 | €72,188 | +€3,810 | +5.6% |
| Accrued charges and deferred income | 492/3 | €1,358 | €0 | -€1,358 | -100.0% |
| Non-recurring operating income | 76A | - | €209 | +€209 | |
| Remuneration, social security and pensions | 62 | €440,666 | €482,886 | +€42,220 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,751 | €31,586 | -€12,165 | -27.8% |
| Other operating charges | 640/8 | €1,430 | €4,030 | +€2,600 | +181.9% |
| Non-recurring operating charges | 66A | - | €801 | +€801 | |
| Gross operating margin | 9900 | €543,575 | €615,498 | +€71,923 | +13.2% |
| Operating profit (loss) | 9901 | €57,729 | €96,196 | +€38,467 | +66.6% |
| Financial income | 75/76B | €4,617 | €3,500 | -€1,118 | -24.2% |
| Recurring financial income | 75 | €4,617 | €3,500 | -€1,118 | -24.2% |
| Financial charges | 65/66B | €5,247 | €2,049 | -€3,197 | -60.9% |
| Recurring financial charges | 65 | €5,247 | €2,049 | -€3,197 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €57,099 | €97,646 | +€40,547 | +71.0% |
| Income taxes | 67/77 | €20,207 | €32,317 | +€12,111 | +59.9% |
| Profit (loss) for the period | 9904 | €36,893 | €65,328 | +€28,436 | +77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,893 | €65,328 | +€28,436 | +77.1% |
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 10 October 2026 via checked.be.