SYSAERT: 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.
SYSAERT
Largest movements
- Receivables within one year -€678,831
down €678,831 (-77.6%), from €874,944 to €196,113
of which Other amounts receivable: -€703,956
- Current investments +€455,388
up €455,388 (+65.1%), from €700,000 to €1.2m
- Debts after one year -€330,000
down €330,000 (-76.7%), from €430,000 to €100,000
- Other debts +€68,153
up €68,153 (+2736.0%), from €2,491 to €70,644
- Reserves +€52,271
up €52,271 (+2.2%), from €2.4m to €2.4m
of which Distributable reserves: +€52,271
- Financial income -€801,601
down €801,601 (-97.3%), from €823,553 to €21,953
- Gross operating margin -€28,599
down €28,599 (-21.2%), from €135,043 to €106,444
- Staff costs -€26,450
down €26,450 (-41.4%), from €63,879 to €37,430
- Financial charges -€5,800
down €5,800 (-30.5%), from €19,024 to €13,225
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 | €3,060,270 | €2,824,971 | -€235,300 | -7.7% |
| Fixed assets | 21/28 | €1,411,681 | €1,412,881 | +€1,200 | +0.1% |
| Tangible fixed assets | 22/27 | €11,681 | €7,881 | -€3,800 | -32.5% |
| Furniture and vehicles | 24 | €11,681 | €7,881 | -€3,800 | -32.5% |
| Financial fixed assets | 28 | €1,400,000 | €1,405,000 | +€5,000 | +0.4% |
| Current assets | 29/58 | €1,648,589 | €1,412,090 | -€236,500 | -14.3% |
| Amounts receivable within one year | 40/41 | €874,944 | €196,113 | -€678,831 | -77.6% |
| Trade receivables | 40 | €13,806 | €38,931 | +€25,125 | +182.0% |
| Other amounts receivable | 41 | €861,138 | €157,182 | -€703,956 | -81.7% |
| Current investments | 50/53 | €700,000 | €1,155,388 | +€455,388 | +65.1% |
| Cash at bank and in hand | 54/58 | €58,715 | €48,774 | -€9,941 | -16.9% |
| Deferred charges and accrued income | 490/1 | €14,930 | €11,815 | -€3,115 | -20.9% |
| Total equity and liabilities | 10/49 | €3,060,270 | €2,824,971 | -€235,300 | -7.7% |
| Equity | 10/15 | €2,415,398 | €2,467,669 | +€52,271 | +2.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,395,398 | €2,447,669 | +€52,271 | +2.2% |
| Tax-exempt reserves | 132 | €23,155 | €23,155 | = | 0.0% |
| Distributable reserves | 133 | €2,372,243 | €2,424,514 | +€52,271 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €644,872 | €357,302 | -€287,570 | -44.6% |
| Amounts payable after more than one year | 17 | €430,000 | €100,000 | -€330,000 | -76.7% |
| Financial debts | 170/4 | €430,000 | €100,000 | -€330,000 | -76.7% |
| Amounts payable within one year | 42/48 | €202,968 | €249,214 | +€46,245 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €170,000 | €170,000 | = | 0.0% |
| Trade debts | 44 | €1,424 | €1,481 | +€58 | +4.1% |
| Suppliers | 440/4 | €1,424 | €1,481 | +€58 | +4.1% |
| Taxes, remuneration and social security | 45 | €29,054 | €7,088 | -€21,965 | -75.6% |
| Taxes | 450/3 | €16,718 | €5,082 | -€11,635 | -69.6% |
| Remuneration and social security | 454/9 | €12,336 | €2,006 | -€10,330 | -83.7% |
| Other amounts payable | 47/48 | €2,491 | €70,644 | +€68,153 | +2736.0% |
| Accrued charges and deferred income | 492/3 | €11,904 | €8,088 | -€3,816 | -32.1% |
| Remuneration, social security and pensions | 62 | €63,879 | €37,430 | -€26,450 | -41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,800 | €3,800 | = | 0.0% |
| Other operating charges | 640/8 | €285 | €1,271 | +€986 | +346.0% |
| Gross operating margin | 9900 | €135,043 | €106,444 | -€28,599 | -21.2% |
| Operating profit (loss) | 9901 | €67,079 | €63,943 | -€3,135 | -4.7% |
| Financial income | 75/76B | €823,553 | €21,953 | -€801,601 | -97.3% |
| Recurring financial income | 75 | €823,553 | €21,953 | -€801,601 | -97.3% |
| Financial charges | 65/66B | €19,024 | €13,225 | -€5,800 | -30.5% |
| Recurring financial charges | 65 | €19,024 | €13,225 | -€5,800 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €871,608 | €72,671 | -€798,936 | -91.7% |
| Income taxes | 67/77 | €18,109 | €18,735 | +€626 | +3.5% |
| Profit (loss) for the period | 9904 | €853,499 | €53,937 | -€799,562 | -93.7% |
| Transfer to tax-exempt reserves | 689 | €23,155 | €0 | -€23,155 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €830,344 | €53,937 | -€776,407 | -93.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.