Systebo: 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.
Systebo
Largest movements
- Stocks and contracts +€337,803
up €337,803 (+856%), from €39,469 to €377,272
- Tangible fixed assets -€17,204
down €17,204 (-4.5%), from €378,501 to €361,297
of which Land and buildings: -€18,808
- Receivables within one year +€15,039
up €15,039 (+18.2%), from €82,859 to €97,898
of which Other amounts receivable: +€11,731
- Debts after one year +€261,414
up €261,414 (+31.2%), from €839,116 to €1.1m
- Trade debts +€43,248
up €43,248 (+3,823%), from €1,131 to €44,379
- Financial charges +€9,376
up €9,376 (+25.9%), from €36,229 to €45,605
- Financial income +€6,936
up €6,936 (+76,133%), from €9 to €6,945
- Gross operating margin +€4,582
up €4,582 (+6.5%), from €70,935 to €75,517
- Depreciation +€1,007
up €1,007 (+4.6%), from €21,969 to €22,976
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 | €1,108,558 | €1,436,377 | +€327,818 | +29.6% |
| Fixed assets | 21/28 | €611,551 | €594,347 | -€17,204 | -2.8% |
| Tangible fixed assets | 22/27 | €378,501 | €361,297 | -€17,204 | -4.5% |
| Land and buildings | 22 | €374,041 | €355,234 | -€18,808 | -5.0% |
| Plant, machinery and equipment | 23 | €2,755 | €4,061 | +€1,306 | +47.4% |
| Furniture and vehicles | 24 | €1,705 | €2,003 | +€298 | +17.5% |
| Financial fixed assets | 28 | €233,050 | €233,050 | = | 0.0% |
| Current assets | 29/58 | €497,008 | €842,030 | +€345,022 | +69.4% |
| Amounts receivable after more than one year | 29 | €360,795 | €353,195 | -€7,600 | -2.1% |
| Other amounts receivable | 291 | €360,795 | €353,195 | -€7,600 | -2.1% |
| Stocks and contracts in progress | 3 | €39,469 | €377,272 | +€337,803 | +856% |
| Stocks | 30/36 | €39,469 | €377,272 | +€337,803 | +856% |
| Amounts receivable within one year | 40/41 | €82,859 | €97,898 | +€15,039 | +18.2% |
| Trade receivables | 40 | €28,696 | €32,003 | +€3,308 | +11.5% |
| Other amounts receivable | 41 | €54,164 | €65,895 | +€11,731 | +21.7% |
| Cash at bank and in hand | 54/58 | €13,884 | €11,951 | -€1,934 | -13.9% |
| Deferred charges and accrued income | 490/1 | - | €1,714 | +€1,714 | |
| Total equity and liabilities | 10/49 | €1,108,558 | €1,436,377 | +€327,818 | +29.6% |
| Equity | 10/15 | €197,338 | €205,320 | +€7,982 | +4.0% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €63,856 | €63,856 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,996 | €61,996 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,181 | €132,163 | +€7,982 | +6.4% |
| Amounts payable | 17/49 | €911,221 | €1,231,057 | +€319,836 | +35.1% |
| Amounts payable after more than one year | 17 | €839,116 | €1,100,530 | +€261,414 | +31.2% |
| Financial debts | 170/4 | €839,116 | €1,100,530 | +€261,414 | +31.2% |
| Amounts payable within one year | 42/48 | €72,105 | €130,527 | +€58,422 | +81.0% |
| Current portion of amounts payable after more than one year | 42 | €61,072 | €63,392 | +€2,320 | +3.8% |
| Trade debts | 44 | €1,131 | €44,379 | +€43,248 | +3,823% |
| Suppliers | 440/4 | €1,131 | €44,379 | +€43,248 | +3,823% |
| Taxes, remuneration and social security | 45 | €9,902 | €22,757 | +€12,855 | +130% |
| Taxes | 450/3 | €9,902 | €22,757 | +€12,855 | +130% |
| Non-recurring operating income | 76A | €282 | - | -€282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,969 | €22,976 | +€1,007 | +4.6% |
| Other operating charges | 640/8 | €4,210 | €4,016 | -€194 | -4.6% |
| Gross operating margin | 9900 | €70,935 | €75,517 | +€4,582 | +6.5% |
| Operating profit (loss) | 9901 | €44,756 | €48,525 | +€3,769 | +8.4% |
| Financial income | 75/76B | €9 | €6,945 | +€6,936 | +76,133% |
| Recurring financial income | 75 | €9 | €6,945 | +€6,936 | +76,133% |
| Financial charges | 65/66B | €36,229 | €45,605 | +€9,376 | +25.9% |
| Recurring financial charges | 65 | €36,229 | €45,605 | +€9,376 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €8,537 | €9,865 | +€1,328 | +15.6% |
| Income taxes | 67/77 | €2,500 | €1,883 | -€617 | -24.7% |
| Profit (loss) for the period | 9904 | €6,037 | €7,982 | +€1,945 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,037 | €7,982 | +€1,945 | +32.2% |
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 1 November 2026 via checked.be.