SYSTEME L: 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.
SYSTEME L
Largest movements
- Receivables within one year -€72,470
down €72,470 (-99.7%), from €72,685 to €215
of which Other amounts receivable: -€72,004
- Cash -€19,366
down €19,366 (-19.6%), from €99,033 to €79,667
mainly Contributions, distributions and other (-€90,000) and Debts after one year (-€13,934)
- Tangible fixed assets -€7,968
down €7,968 (-11.0%), from €72,181 to €64,212
of which Land and buildings: -€4,681
- Reserves -€90,000
down €90,000 (-66.8%), from €134,823 to €44,823
of which Distributable reserves: -€90,000
- Debts after one year -€13,934
down €13,934 (-66.3%), from €21,002 to €7,069
- Tax, wage and social debts +€5,850
new in 2025: €5,850
- Other operating charges +€546
up €546 (+17.8%), from €3,078 to €3,624
- Financial charges -€257
down €257 (-26.6%), from €963 to €706
- Gross operating margin -€217
down €217 (-2.1%), from €10,178 to €9,961
- Depreciation -€175
down €175 (-2.1%), from €8,143 to €7,968
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 | €246,629 | €146,830 | -€99,799 | -40.5% |
| Fixed assets | 21/28 | €74,299 | €66,330 | -€7,968 | -10.7% |
| Tangible fixed assets | 22/27 | €72,181 | €64,212 | -€7,968 | -11.0% |
| Land and buildings | 22 | €39,525 | €34,845 | -€4,681 | -11.8% |
| Plant, machinery and equipment | 23 | €15,715 | €13,886 | -€1,829 | -11.6% |
| Other tangible fixed assets | 26 | €16,941 | €15,482 | -€1,459 | -8.6% |
| Financial fixed assets | 28 | €2,118 | €2,118 | = | 0.0% |
| Current assets | 29/58 | €172,331 | €80,500 | -€91,831 | -53.3% |
| Amounts receivable within one year | 40/41 | €72,685 | €215 | -€72,470 | -99.7% |
| Trade receivables | 40 | €681 | €215 | -€466 | -68.4% |
| Other amounts receivable | 41 | €72,004 | - | -€72,004 | |
| Cash at bank and in hand | 54/58 | €99,033 | €79,667 | -€19,366 | -19.6% |
| Deferred charges and accrued income | 490/1 | €613 | €618 | +€5 | +0.9% |
| Total equity and liabilities | 10/49 | €246,629 | €146,830 | -€99,799 | -40.5% |
| Equity | 10/15 | €113,038 | €20,701 | -€92,337 | -81.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €134,823 | €44,823 | -€90,000 | -66.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €132,964 | €42,964 | -€90,000 | -67.7% |
| Profit (loss) carried forward | 14 | -€27,982 | -€30,319 | -€2,337 | -8.4% |
| Provisions and deferred taxes | 16 | €97,631 | €97,631 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €97,631 | €97,631 | = | 0.0% |
| Pensions and similar obligations | 160 | €97,631 | €97,631 | = | 0.0% |
| Amounts payable | 17/49 | €35,959 | €28,497 | -€7,462 | -20.8% |
| Amounts payable after more than one year | 17 | €21,002 | €7,069 | -€13,934 | -66.3% |
| Financial debts | 170/4 | €21,002 | €7,069 | -€13,934 | -66.3% |
| Amounts payable within one year | 42/48 | €14,957 | €21,429 | +€6,472 | +43.3% |
| Current portion of amounts payable after more than one year | 42 | €13,664 | €13,934 | +€269 | +2.0% |
| Trade debts | 44 | €1,293 | €1,645 | +€353 | +27.3% |
| Suppliers | 440/4 | €1,293 | €1,645 | +€353 | +27.3% |
| Taxes, remuneration and social security | 45 | - | €5,850 | +€5,850 | |
| Taxes | 450/3 | - | €5,850 | +€5,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,143 | €7,968 | -€175 | -2.1% |
| Other operating charges | 640/8 | €3,078 | €3,624 | +€546 | +17.8% |
| Gross operating margin | 9900 | €10,178 | €9,961 | -€217 | -2.1% |
| Operating profit (loss) | 9901 | -€1,043 | -€1,631 | -€588 | -56.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €963 | €706 | -€257 | -26.6% |
| Recurring financial charges | 65 | €963 | €706 | -€257 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,006 | -€2,337 | -€332 | -16.5% |
| Income taxes | 67/77 | -€14 | - | +€14 | |
| Profit (loss) for the period | 9904 | -€1,991 | -€2,337 | -€346 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,991 | -€2,337 | -€346 | -17.4% |
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 13 October 2026 via checked.be.