SYNEPEIA: what changed
SYNEPEIA
Largest movements
- Current investments +€435,836
up €435,836 (+54.5%), from €799,236 to €1.2m
- Cash +€74,238
up €74,238 (+71.3%), from €104,169 to €178,407
mainly Net result for the year (+€450,987) and Receivables within one year (+€68,240)
- Receivables within one year -€68,240
down €68,240 (-29.8%), from €229,216 to €160,976
of which Trade receivables: -€68,235
- Tangible fixed assets -€63,520
down €63,520 (-2.8%), from €2.3m to €2.2m
of which Land and buildings: -€57,520
- Reserves +€401,860
up €401,860 (+34.8%), from €1.2m to €1.6m
of which Distributable reserves: +€328,185
- Tax, wage and social debts -€64,519
down €64,519 (-71.8%), from €89,847 to €25,328
of which Taxes: -€59,660
- Profit (loss) carried forward +€49,127
up €49,127 (+16.6%), from €296,610 to €345,737
- Accrued charges and deferred income -€42,482
down €42,482 (-88.8%), from €47,857 to €5,375
- Financial income +€84,675
up €84,675 (+768%), from €11,022 to €95,697
- Gross operating margin -€39,249
down €39,249 (-6.3%), from €620,288 to €581,039
- Staff costs -€10,647
down €10,647 (-27.8%), from €38,339 to €27,692
- Taxes -€8,136
down €8,136 (-6.1%), from €133,708 to €125,572
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,430,835 | €3,807,268 | +€376,433 | +11.0% |
| Fixed assets | 21/28 | €2,294,680 | €2,231,159 | -€63,520 | -2.8% |
| Tangible fixed assets | 22/27 | €2,294,609 | €2,231,089 | -€63,520 | -2.8% |
| Land and buildings | 22 | €2,273,987 | €2,216,467 | -€57,520 | -2.5% |
| Plant, machinery and equipment | 23 | €12,112 | €8,024 | -€4,088 | -33.8% |
| Furniture and vehicles | 24 | €8,511 | €6,598 | -€1,912 | -22.5% |
| Financial fixed assets | 28 | €71 | €71 | = | 0.0% |
| Current assets | 29/58 | €1,136,155 | €1,576,109 | +€439,954 | +38.7% |
| Amounts receivable within one year | 40/41 | €229,216 | €160,976 | -€68,240 | -29.8% |
| Trade receivables | 40 | €229,211 | €160,976 | -€68,235 | -29.8% |
| Other amounts receivable | 41 | €5 | €0 | -€5 | -100% |
| Current investments | 50/53 | €799,236 | €1,235,072 | +€435,836 | +54.5% |
| Cash at bank and in hand | 54/58 | €104,169 | €178,407 | +€74,238 | +71.3% |
| Deferred charges and accrued income | 490/1 | €3,535 | €1,654 | -€1,881 | -53.2% |
| Total equity and liabilities | 10/49 | €3,430,835 | €3,807,268 | +€376,433 | +11.0% |
| Equity | 10/15 | €1,464,637 | €1,915,623 | +€450,987 | +30.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,155,627 | €1,557,487 | +€401,860 | +34.8% |
| Tax-exempt reserves | 132 | €239,970 | €313,645 | +€73,675 | +30.7% |
| Distributable reserves | 133 | €915,657 | €1,243,842 | +€328,185 | +35.8% |
| Profit (loss) carried forward | 14 | €296,610 | €345,737 | +€49,127 | +16.6% |
| Amounts payable | 17/49 | €1,966,198 | €1,891,645 | -€74,553 | -3.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,918,341 | €1,886,270 | -€32,072 | -1.7% |
| Trade debts | 44 | €27,614 | €44,205 | +€16,591 | +60.1% |
| Suppliers | 440/4 | €27,614 | €44,205 | +€16,591 | +60.1% |
| Taxes, remuneration and social security | 45 | €89,847 | €25,328 | -€64,519 | -71.8% |
| Taxes | 450/3 | €84,211 | €24,552 | -€59,660 | -70.8% |
| Remuneration and social security | 454/9 | €5,636 | €776 | -€4,859 | -86.2% |
| Other amounts payable | 47/48 | €1,800,880 | €1,816,737 | +€15,856 | +0.9% |
| Accrued charges and deferred income | 492/3 | €47,857 | €5,375 | -€42,482 | -88.8% |
| Remuneration, social security and pensions | 62 | €38,339 | €27,692 | -€10,647 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,135 | €63,520 | +€1,385 | +2.2% |
| Other operating charges | 640/8 | €6,145 | €6,166 | +€21 | +0.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €620,288 | €581,039 | -€39,249 | -6.3% |
| Operating profit (loss) | 9901 | €513,669 | €483,660 | -€30,008 | -5.8% |
| Financial income | 75/76B | €11,022 | €95,697 | +€84,675 | +768% |
| Recurring financial income | 75 | €11,022 | €95,697 | +€84,675 | +768% |
| Financial charges | 65/66B | €1,753 | €2,800 | +€1,046 | +59.7% |
| Recurring financial charges | 65 | €1,753 | €2,800 | +€1,046 | +59.7% |
| Profit (loss) for the period before taxes | 9903 | €522,938 | €576,558 | +€53,621 | +10.3% |
| Income taxes | 67/77 | €133,708 | €125,572 | -€8,136 | -6.1% |
| Profit (loss) for the period | 9904 | €389,230 | €450,987 | +€61,757 | +15.9% |
| Transfer from tax-exempt reserves | 789 | - | €31,575 | +€31,575 | |
| Transfer to tax-exempt reserves | 689 | €92,620 | €105,250 | +€12,630 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €296,610 | €377,312 | +€80,702 | +27.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.