SYSTEM-DAIX: 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.
SYSTEM-DAIX
Largest movements
- Receivables within one year -€216,801
down €216,801 (-32.1%), from €676,246 to €459,444
of which Trade receivables: -€196,932
- Tangible fixed assets -€185,968
down €185,968 (-12.0%), from €1.6m to €1.4m
of which Leasing and similar rights: -€144,224
- Cash -€56,105
down €56,105 (-49.9%), from €112,469 to €56,363
mainly Debts after one year (-€273,664) and Current portion of long-term debt (-€122,253)
- Stocks and contracts +€46,556
up €46,556 (+13.2%), from €352,626 to €399,181
- Debts after one year -€273,664
down €273,664 (-24.3%), from €1.1m to €852,584
- Current portion of long-term debt -€122,253
down €122,253 (-13.8%), from €886,081 to €763,828
- Trade debts -€77,621
down €77,621 (-20.8%), from €372,566 to €294,945
- Investment grants +€65,082
new in 2025: €65,082
- Profit (loss) carried forward +€44,424
up €44,424 (+33.7%), from €131,698 to €176,122
- Staff costs +€134,940
up €134,940 (+30.6%), from €441,194 to €576,134
- Financial income +€107,813
up €107,813 (+3530.6%), from €3,054 to €110,867
- Gross operating margin +€34,177
up €34,177 (+4.4%), from €771,554 to €805,731
- Financial charges -€27,351
down €27,351 (-24.9%), from €109,666 to €82,315
- Depreciation +€8,414
up €8,414 (+4.6%), from €182,023 to €190,437
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 | €2,696,302 | €2,282,872 | -€413,430 | -15.3% |
| Fixed assets | 21/28 | €1,554,829 | €1,367,883 | -€186,946 | -12.0% |
| Intangible fixed assets | 21 | €1,273 | €295 | -€978 | -76.8% |
| Tangible fixed assets | 22/27 | €1,553,556 | €1,367,588 | -€185,968 | -12.0% |
| Plant, machinery and equipment | 23 | €264,779 | €223,981 | -€40,798 | -15.4% |
| Furniture and vehicles | 24 | €9,001 | €8,056 | -€945 | -10.5% |
| Leasing and similar rights | 25 | €1,279,776 | €1,135,552 | -€144,224 | -11.3% |
| Current assets | 29/58 | €1,141,472 | €914,989 | -€226,483 | -19.8% |
| Stocks and contracts in progress | 3 | €352,626 | €399,181 | +€46,556 | +13.2% |
| Stocks | 30/36 | €352,626 | €399,181 | +€46,556 | +13.2% |
| Amounts receivable within one year | 40/41 | €676,246 | €459,444 | -€216,801 | -32.1% |
| Trade receivables | 40 | €600,936 | €404,003 | -€196,932 | -32.8% |
| Other amounts receivable | 41 | €75,310 | €55,441 | -€19,869 | -26.4% |
| Cash at bank and in hand | 54/58 | €112,469 | €56,363 | -€56,105 | -49.9% |
| Deferred charges and accrued income | 490/1 | €132 | - | -€132 | |
| Total equity and liabilities | 10/49 | €2,696,302 | €2,282,872 | -€413,430 | -15.3% |
| Equity | 10/15 | €182,926 | €292,432 | +€109,506 | +59.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €30,768 | €30,768 | = | 0.0% |
| Distributable reserves | 133 | €30,768 | €30,768 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,698 | €176,122 | +€44,424 | +33.7% |
| Investment grants | 15 | - | €65,082 | +€65,082 | |
| Amounts payable | 17/49 | €2,513,376 | €1,990,440 | -€522,936 | -20.8% |
| Amounts payable after more than one year | 17 | €1,126,248 | €852,584 | -€273,664 | -24.3% |
| Financial debts | 170/4 | €1,126,248 | €852,584 | -€273,664 | -24.3% |
| Amounts payable within one year | 42/48 | €1,360,728 | €1,137,856 | -€222,871 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €886,081 | €763,828 | -€122,253 | -13.8% |
| Trade debts | 44 | €372,566 | €294,945 | -€77,621 | -20.8% |
| Suppliers | 440/4 | €372,566 | €294,945 | -€77,621 | -20.8% |
| Taxes, remuneration and social security | 45 | €102,081 | €79,083 | -€22,997 | -22.5% |
| Taxes | 450/3 | €60,697 | €12,204 | -€48,492 | -79.9% |
| Remuneration and social security | 454/9 | €41,384 | €66,879 | +€25,495 | +61.6% |
| Accrued charges and deferred income | 492/3 | €26,400 | - | -€26,400 | |
| Remuneration, social security and pensions | 62 | €441,194 | €576,134 | +€134,940 | +30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,023 | €190,437 | +€8,414 | +4.6% |
| Other operating charges | 640/8 | €16,428 | €10,738 | -€5,690 | -34.6% |
| Gross operating margin | 9900 | €771,554 | €805,731 | +€34,177 | +4.4% |
| Operating profit (loss) | 9901 | €131,910 | €28,422 | -€103,487 | -78.5% |
| Financial income | 75/76B | €3,054 | €110,867 | +€107,813 | +3530.6% |
| Recurring financial income | 75 | €3,054 | €110,867 | +€107,813 | +3530.6% |
| Financial charges | 65/66B | €109,666 | €82,315 | -€27,351 | -24.9% |
| Recurring financial charges | 65 | €109,666 | €82,315 | -€27,351 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €25,297 | €56,974 | +€31,677 | +125.2% |
| Income taxes | 67/77 | €10,665 | €12,551 | +€1,886 | +17.7% |
| Profit (loss) for the period | 9904 | €14,633 | €44,424 | +€29,791 | +203.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,633 | €44,424 | +€29,791 | +203.6% |
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 11 October 2026 via checked.be.