SYSMANS: what changed
Two fiscal 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.
SYSMANS
Largest movements
- Current investments +€508,075
up €508,075 (+27.0%), from €1.9m to €2.4m
- Cash -€94,185
down €94,185 (-84.2%), from €111,872 to €17,687
mainly Current investments (-€508,075) and Investment in fixed assets (net) (-€17,140)
- Reserves +€420,500
up €420,500 (+20.8%), from €2.0m to €2.4m
of which Distributable reserves: +€420,500
- Staff costs -€53,008
down €53,008 (-34.8%), from €152,510 to €99,502
- Financial income +€22,564
up €22,564 (+61.6%), from €36,651 to €59,214
- Taxes +€20,659
up €20,659 (+12.1%), from €170,393 to €191,052
- Gross operating margin -€15,429
down €15,429 (-2.3%), from €677,043 to €661,614
- Depreciation -€6,811
down €6,811 (-53.4%), from €12,763 to €5,952
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 | €2,062,424 | €2,495,117 | +€432,693 | +21.0% |
| Fixed assets | 21/28 | €9,974 | €21,162 | +€11,188 | +112.2% |
| Tangible fixed assets | 22/27 | €9,974 | €21,162 | +€11,188 | +112.2% |
| Land and buildings | 22 | €3,571 | €14,608 | +€11,037 | +309.1% |
| Furniture and vehicles | 24 | €6,403 | €6,554 | +€151 | +2.4% |
| Current assets | 29/58 | €2,052,450 | €2,473,955 | +€421,504 | +20.5% |
| Amounts receivable within one year | 40/41 | €2,565 | - | -€2,565 | |
| Other amounts receivable | 41 | €2,565 | - | -€2,565 | |
| Current investments | 50/53 | €1,883,008 | €2,391,083 | +€508,075 | +27.0% |
| Cash at bank and in hand | 54/58 | €111,872 | €17,687 | -€94,185 | -84.2% |
| Deferred charges and accrued income | 490/1 | €55,005 | €65,185 | +€10,180 | +18.5% |
| Total equity and liabilities | 10/49 | €2,062,424 | €2,495,117 | +€432,693 | +21.0% |
| Equity | 10/15 | €2,032,472 | €2,453,029 | +€420,557 | +20.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,018,629 | €2,439,129 | +€420,500 | +20.8% |
| Tax-exempt reserves | 132 | €9,679 | €9,679 | = | 0.0% |
| Distributable reserves | 133 | €2,008,950 | €2,429,450 | +€420,500 | +20.9% |
| Profit (loss) carried forward | 14 | €7,643 | €7,700 | +€57 | +0.7% |
| Amounts payable | 17/49 | €29,952 | €42,088 | +€12,135 | +40.5% |
| Amounts payable within one year | 42/48 | €25,402 | €38,138 | +€12,735 | +50.1% |
| Trade debts | 44 | €2,263 | €7,457 | +€5,194 | +229.5% |
| Suppliers | 440/4 | €2,263 | €7,457 | +€5,194 | +229.5% |
| Taxes, remuneration and social security | 45 | €22,995 | €29,678 | +€6,682 | +29.1% |
| Taxes | 450/3 | €11,906 | €11,718 | -€188 | -1.6% |
| Remuneration and social security | 454/9 | €11,089 | €17,959 | +€6,870 | +62.0% |
| Other amounts payable | 47/48 | €144 | €1,003 | +€860 | +598.6% |
| Accrued charges and deferred income | 492/3 | €4,550 | €3,950 | -€600 | -13.2% |
| Remuneration, social security and pensions | 62 | €152,510 | €99,502 | -€53,008 | -34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,763 | €5,952 | -€6,811 | -53.4% |
| Other operating charges | 640/8 | €3,746 | €3,575 | -€171 | -4.6% |
| Gross operating margin | 9900 | €677,043 | €661,614 | -€15,429 | -2.3% |
| Operating profit (loss) | 9901 | €508,024 | €552,585 | +€44,561 | +8.8% |
| Financial income | 75/76B | €36,651 | €59,214 | +€22,564 | +61.6% |
| Recurring financial income | 75 | €36,651 | €59,214 | +€22,564 | +61.6% |
| Financial charges | 65/66B | €154 | €190 | +€36 | +23.7% |
| Recurring financial charges | 65 | €154 | €190 | +€36 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €544,521 | €611,609 | +€67,089 | +12.3% |
| Income taxes | 67/77 | €170,393 | €191,052 | +€20,659 | +12.1% |
| Profit (loss) for the period | 9904 | €374,128 | €420,557 | +€46,430 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €374,128 | €420,557 | +€46,430 | +12.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.