SYPRI MANAGEMENT: 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.
SYPRI MANAGEMENT
Largest movements
- Deferred charges and accrued income +€26,538
up €26,538 (+390%), from €6,801 to €33,340
- Cash -€25,990
down €25,990 (-45.6%), from €57,024 to €31,035
mainly Deferred charges and accrued income (-€26,538) and Receivables within one year (-€16,642)
- Receivables within one year +€16,642
up €16,642 (+7.5%), from €222,585 to €239,227
of which Other amounts receivable: +€47,676
- Tangible fixed assets -€10,736
down €10,736 (-38.2%), from €28,108 to €17,372
of which Furniture and vehicles: -€9,686
- Debts after one year -€14,466
down €14,466 (-66.3%), from €21,817 to €7,352
- Reserves +€10,000
up €10,000 (+2.4%), from €412,614 to €422,614
of which Distributable reserves: +€10,000
- Profit (loss) carried forward +€9,184
up €9,184 (+28.5%), from -€32,279 to -€23,095
- Taxes -€63,308
down €63,308 (-89.2%), from €71,013 to €7,705
- Gross operating margin -€27,557
down €27,557 (-41.8%), from €65,904 to €38,348
- Depreciation -€10,766
down €10,766 (-50.1%), from €21,502 to €10,736
- Other operating charges -€9,121
down €9,121 (-86.0%), from €10,601 to €1,480
- Financial charges -€3,913
down €3,913 (-48.8%), from €8,025 to €4,112
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 | €443,596 | €447,350 | +€3,755 | +0.8% |
| Fixed assets | 21/28 | €94,008 | €83,272 | -€10,736 | -11.4% |
| Tangible fixed assets | 22/27 | €28,108 | €17,372 | -€10,736 | -38.2% |
| Plant, machinery and equipment | 23 | €1,854 | €805 | -€1,049 | -56.6% |
| Furniture and vehicles | 24 | €13,939 | €4,252 | -€9,686 | -69.5% |
| Other tangible fixed assets | 26 | €12,315 | €12,315 | = | 0.0% |
| Financial fixed assets | 28 | €65,900 | €65,900 | = | 0.0% |
| Current assets | 29/58 | €349,588 | €364,078 | +€14,490 | +4.1% |
| Amounts receivable after more than one year | 29 | €63,177 | €60,477 | -€2,700 | -4.3% |
| Other amounts receivable | 291 | €63,177 | €60,477 | -€2,700 | -4.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €222,585 | €239,227 | +€16,642 | +7.5% |
| Trade receivables | 40 | €31,034 | €0 | -€31,034 | -100% |
| Other amounts receivable | 41 | €191,551 | €239,227 | +€47,676 | +24.9% |
| Cash at bank and in hand | 54/58 | €57,024 | €31,035 | -€25,990 | -45.6% |
| Deferred charges and accrued income | 490/1 | €6,801 | €33,340 | +€26,538 | +390% |
| Total equity and liabilities | 10/49 | €443,596 | €447,350 | +€3,755 | +0.8% |
| Equity | 10/15 | €392,735 | €411,919 | +€19,184 | +4.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €412,614 | €422,614 | +€10,000 | +2.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €412,614 | €422,614 | +€10,000 | +2.4% |
| Profit (loss) carried forward | 14 | -€32,279 | -€23,095 | +€9,184 | +28.5% |
| Amounts payable | 17/49 | €50,860 | €35,431 | -€15,429 | -30.3% |
| Amounts payable after more than one year | 17 | €21,817 | €7,352 | -€14,466 | -66.3% |
| Financial debts | 170/4 | €21,817 | €7,352 | -€14,466 | -66.3% |
| Amounts payable within one year | 42/48 | €28,979 | €28,069 | -€909 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €14,155 | €14,466 | +€311 | +2.2% |
| Trade debts | 44 | €3,224 | €5,118 | +€1,895 | +58.8% |
| Suppliers | 440/4 | €3,224 | €5,118 | +€1,895 | +58.8% |
| Taxes, remuneration and social security | 45 | €11,600 | €8,485 | -€3,115 | -26.9% |
| Taxes | 450/3 | €11,600 | €8,485 | -€3,115 | -26.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €64 | €10 | -€54 | -84.5% |
| Non-recurring operating income | 76A | €4,540 | €0 | -€4,540 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,502 | €10,736 | -€10,766 | -50.1% |
| Other operating charges | 640/8 | €10,601 | €1,480 | -€9,121 | -86.0% |
| Non-recurring operating charges | 66A | €1,723 | €0 | -€1,723 | -100% |
| Gross operating margin | 9900 | €65,904 | €38,348 | -€27,557 | -41.8% |
| Operating profit (loss) | 9901 | €32,079 | €26,132 | -€5,947 | -18.5% |
| Financial income | 75/76B | €4,591 | €4,869 | +€278 | +6.0% |
| Recurring financial income | 75 | €4,591 | €4,869 | +€278 | +6.0% |
| Financial charges | 65/66B | €8,025 | €4,112 | -€3,913 | -48.8% |
| Recurring financial charges | 65 | €8,025 | €4,112 | -€3,913 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | €28,645 | €26,889 | -€1,756 | -6.1% |
| Income taxes | 67/77 | €71,013 | €7,705 | -€63,308 | -89.2% |
| Profit (loss) for the period | 9904 | -€42,368 | €19,184 | +€61,552 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,368 | €19,184 | +€61,552 |
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 24 October 2026 via checked.be.