Systèmes-D: 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.
Systèmes-D
Largest movements
- Stocks and contracts +€79,287
up €79,287 (+24.4%), from €325,476 to €404,764
- Cash +€72,114
up €72,114 (+13.9%), from €518,748 to €590,862
mainly Net result for the year (+€253,482) and Other debts (+€143,047)
- Tangible fixed assets -€16,075
down €16,075 (-4.6%), from €346,928 to €330,853
of which Land and buildings: -€16,601
- Other debts +€143,047
up €143,047, from €0 to €143,047
- Trade debts +€42,593
up €42,593 (+101.5%), from €41,976 to €84,568
- Reserves -€32,518
down €32,518 (-3.4%), from €946,559 to €914,041
of which Distributable reserves: -€28,663
- Debts after one year -€30,158
down €30,158 (-26.3%), from €114,550 to €84,392
of which Financial debts: -€30,158
- Tax, wage and social debts +€24,138
up €24,138 (+51.2%), from €47,101 to €71,239
of which Remuneration and social security: +€22,505
- Gross operating margin -€93,077
down €93,077 (-10.0%), from €927,962 to €834,885
- Staff costs +€35,716
up €35,716 (+8.7%), from €410,401 to €446,117
- Other operating charges -€34,893
down €34,893 (-72.3%), from €48,237 to €13,344
- Taxes -€29,250
down €29,250 (-24.9%), from €117,454 to €88,204
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 | €1,247,365 | €1,387,636 | +€140,270 | +11.2% |
| Fixed assets | 21/28 | €347,108 | €331,033 | -€16,075 | -4.6% |
| Tangible fixed assets | 22/27 | €346,928 | €330,853 | -€16,075 | -4.6% |
| Land and buildings | 22 | €302,725 | €286,124 | -€16,601 | -5.5% |
| Plant, machinery and equipment | 23 | €25,975 | €24,861 | -€1,115 | -4.3% |
| Furniture and vehicles | 24 | €18,227 | €19,868 | +€1,641 | +9.0% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €900,258 | €1,056,603 | +€156,345 | +17.4% |
| Stocks and contracts in progress | 3 | €325,476 | €404,764 | +€79,287 | +24.4% |
| Stocks | 30/36 | €325,476 | €404,764 | +€79,287 | +24.4% |
| Amounts receivable within one year | 40/41 | €51,299 | €59,664 | +€8,365 | +16.3% |
| Trade receivables | 40 | €49,610 | €40,598 | -€9,012 | -18.2% |
| Other amounts receivable | 41 | €1,689 | €19,066 | +€17,377 | +1028.8% |
| Cash at bank and in hand | 54/58 | €518,748 | €590,862 | +€72,114 | +13.9% |
| Deferred charges and accrued income | 490/1 | €4,734 | €1,313 | -€3,422 | -72.3% |
| Total equity and liabilities | 10/49 | €1,247,365 | €1,387,636 | +€140,270 | +11.2% |
| Equity | 10/15 | €991,559 | €959,041 | -€32,518 | -3.3% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €946,559 | €914,041 | -€32,518 | -3.4% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,698 | €30,842 | -€3,855 | -11.1% |
| Distributable reserves | 133 | €907,361 | €878,698 | -€28,663 | -3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €17,090 | €15,191 | -€1,899 | -11.1% |
| Deferred taxes | 168 | €17,090 | €15,191 | -€1,899 | -11.1% |
| Amounts payable | 17/49 | €238,717 | €413,404 | +€174,687 | +73.2% |
| Amounts payable after more than one year | 17 | €114,550 | €84,392 | -€30,158 | -26.3% |
| Financial debts | 170/4 | €63,561 | €33,403 | -€30,158 | -47.4% |
| Other amounts payable | 178/9 | €50,989 | €50,989 | = | 0.0% |
| Amounts payable within one year | 42/48 | €124,167 | €329,012 | +€204,845 | +165.0% |
| Current portion of amounts payable after more than one year | 42 | €35,090 | €30,158 | -€4,932 | -14.1% |
| Trade debts | 44 | €41,976 | €84,568 | +€42,593 | +101.5% |
| Suppliers | 440/4 | €41,976 | €84,568 | +€42,593 | +101.5% |
| Taxes, remuneration and social security | 45 | €47,101 | €71,239 | +€24,138 | +51.2% |
| Taxes | 450/3 | €13,928 | €15,560 | +€1,632 | +11.7% |
| Remuneration and social security | 454/9 | €33,174 | €55,679 | +€22,505 | +67.8% |
| Other amounts payable | 47/48 | €0 | €143,047 | +€143,047 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €410,401 | €446,117 | +€35,716 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,242 | €33,413 | -€830 | -2.4% |
| Other operating charges | 640/8 | €48,237 | €13,344 | -€34,893 | -72.3% |
| Gross operating margin | 9900 | €927,962 | €834,885 | -€93,077 | -10.0% |
| Operating profit (loss) | 9901 | €435,082 | €342,011 | -€93,070 | -21.4% |
| Financial income | 75/76B | €3,745 | €3,419 | -€327 | -8.7% |
| Recurring financial income | 75 | €3,745 | €3,419 | -€327 | -8.7% |
| Financial charges | 65/66B | €8,797 | €5,643 | -€3,154 | -35.9% |
| Recurring financial charges | 65 | €8,797 | €5,643 | -€3,154 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €430,030 | €339,786 | -€90,243 | -21.0% |
| Transfer from deferred taxes | 780 | €1,899 | €1,899 | = | 0.0% |
| Income taxes | 67/77 | €117,454 | €88,204 | -€29,250 | -24.9% |
| Profit (loss) for the period | 9904 | €314,474 | €253,482 | -€60,993 | -19.4% |
| Transfer from tax-exempt reserves | 789 | €3,855 | €3,855 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €318,330 | €257,337 | -€60,993 | -19.2% |
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 7 October 2026 via checked.be.