SYSMATHICK: 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.
SYSMATHICK
Largest movements
- Cash +€494,477
up €494,477 (+270.4%), from €182,847 to €677,324
mainly Net result for the year (+€379,270) and Provisions (+€104,241)
- Stocks and contracts -€55,600
down €55,600 (-69.6%), from €79,873 to €24,273
- Receivables within one year +€52,280
up €52,280 (+34.5%), from €151,386 to €203,665
of which Trade receivables: +€111,547
- Tangible fixed assets -€51,881
down €51,881 (-24.3%), from €213,196 to €161,315
of which Land and buildings: -€30,020
- Reserves +€305,222
up €305,222 (+144.3%), from €211,533 to €516,755
of which Tax-exempt reserves: +€312,722
- Provisions +€104,241
new in 2025: €104,241
- Tax, wage and social debts +€44,618
up €44,618 (+200.5%), from €22,253 to €66,871
of which Taxes: +€42,471
- Debts after one year -€27,394
down €27,394 (-59.6%), from €45,931 to €18,536
- Trade debts +€15,397
up €15,397 (+62.0%), from €24,822 to €40,219
- Gross operating margin +€479,372
up €479,372 (+361.2%), from €132,702 to €612,075
- Taxes +€20,899
up €20,899 (+323.4%), from €6,461 to €27,361
- Depreciation +€6,620
up €6,620 (+20.4%), from €32,448 to €39,067
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 | €634,958 | €1,071,622 | +€436,664 | +68.8% |
| Fixed assets | 21/28 | €213,196 | €161,315 | -€51,881 | -24.3% |
| Tangible fixed assets | 22/27 | €213,196 | €161,315 | -€51,881 | -24.3% |
| Land and buildings | 22 | €104,747 | €74,726 | -€30,020 | -28.7% |
| Plant, machinery and equipment | 23 | €12,069 | €8,233 | -€3,836 | -31.8% |
| Furniture and vehicles | 24 | €96,380 | €78,356 | -€18,024 | -18.7% |
| Current assets | 29/58 | €421,762 | €910,306 | +€488,545 | +115.8% |
| Stocks and contracts in progress | 3 | €79,873 | €24,273 | -€55,600 | -69.6% |
| Stocks | 30/36 | €79,873 | €24,273 | -€55,600 | -69.6% |
| Amounts receivable within one year | 40/41 | €151,386 | €203,665 | +€52,280 | +34.5% |
| Trade receivables | 40 | €81,222 | €192,769 | +€111,547 | +137.3% |
| Other amounts receivable | 41 | €70,163 | €10,897 | -€59,267 | -84.5% |
| Cash at bank and in hand | 54/58 | €182,847 | €677,324 | +€494,477 | +270.4% |
| Deferred charges and accrued income | 490/1 | €7,656 | €5,044 | -€2,612 | -34.1% |
| Total equity and liabilities | 10/49 | €634,958 | €1,071,622 | +€436,664 | +68.8% |
| Equity | 10/15 | €507,155 | €812,425 | +€305,270 | +60.2% |
| Contributions | 10/11 | €79,326 | €79,326 | = | 0.0% |
| Capital | 10 | €79,326 | €79,326 | = | 0.0% |
| Issued capital | 100 | €79,326 | €79,326 | = | 0.0% |
| Reserves | 13 | €211,533 | €516,755 | +€305,222 | +144.3% |
| Non-distributable reserves | 130/1 | €7,933 | €7,933 | = | 0.0% |
| Legal reserve | 130 | €7,933 | €7,933 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,600 | €345,322 | +€312,722 | +959.3% |
| Distributable reserves | 133 | €171,000 | €163,500 | -€7,500 | -4.4% |
| Profit (loss) carried forward | 14 | €216,296 | €216,344 | +€48 | 0.0% |
| Provisions and deferred taxes | 16 | - | €104,241 | +€104,241 | |
| Deferred taxes | 168 | - | €104,241 | +€104,241 | |
| Amounts payable | 17/49 | €127,803 | €154,956 | +€27,153 | +21.2% |
| Amounts payable after more than one year | 17 | €45,931 | €18,536 | -€27,394 | -59.6% |
| Financial debts | 170/4 | €45,931 | €18,536 | -€27,394 | -59.6% |
| Amounts payable within one year | 42/48 | €81,873 | €136,033 | +€54,160 | +66.2% |
| Current portion of amounts payable after more than one year | 42 | €9,044 | €2,327 | -€6,717 | -74.3% |
| Financial debts | 43 | €24,042 | €25,067 | +€1,025 | +4.3% |
| Credit institutions | 430/8 | €24,042 | €25,067 | +€1,025 | +4.3% |
| Trade debts | 44 | €24,822 | €40,219 | +€15,397 | +62.0% |
| Suppliers | 440/4 | €24,822 | €40,219 | +€15,397 | +62.0% |
| Taxes, remuneration and social security | 45 | €22,253 | €66,871 | +€44,618 | +200.5% |
| Taxes | 450/3 | €11,035 | €53,507 | +€42,471 | +384.9% |
| Remuneration and social security | 454/9 | €11,218 | €13,364 | +€2,147 | +19.1% |
| Other amounts payable | 47/48 | €1,712 | €1,549 | -€163 | -9.5% |
| Accrued charges and deferred income | 492/3 | €0 | €387 | +€387 | |
| Non-recurring operating income | 76A | - | €416,963 | +€416,963 | |
| Remuneration, social security and pensions | 62 | €50,499 | €50,829 | +€329 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,448 | €39,067 | +€6,620 | +20.4% |
| Other operating charges | 640/8 | €5,982 | €6,189 | +€207 | +3.5% |
| Gross operating margin | 9900 | €132,702 | €612,075 | +€479,372 | +361.2% |
| Operating profit (loss) | 9901 | €43,774 | €515,989 | +€472,216 | +1078.8% |
| Financial income | 75/76B | €180 | €0 | -€180 | -100.0% |
| Recurring financial income | 75 | €180 | €0 | -€180 | -100.0% |
| Financial charges | 65/66B | €6,545 | €5,117 | -€1,428 | -21.8% |
| Recurring financial charges | 65 | €6,545 | €5,117 | -€1,428 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €37,409 | €510,872 | +€473,463 | +1265.7% |
| Transfer to deferred taxes | 680 | - | €104,241 | +€104,241 | |
| Income taxes | 67/77 | €6,461 | €27,361 | +€20,899 | +323.4% |
| Profit (loss) for the period | 9904 | €30,947 | €379,270 | +€348,323 | +1125.5% |
| Transfer to tax-exempt reserves | 689 | - | €312,722 | +€312,722 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,947 | €66,548 | +€35,601 | +115.0% |
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 28 September 2026 via checked.be.