SYSTEMHOUSE: 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.
What changed
SYSTEMHOUSE
NACE 46.851, Wholesale of industrial chemicals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.8m
2024 · €4.2m-€386,497
Equity
€16.8m
2024 · €14.7m+€2.0m
Cash
€1.6m
2024 · €1.3m+€233,126
Balance sheet total
€30.4m
2024 · €27.3m+€3.1m
Largest movements
Assets
- Receivables within one year +€1.8m
up €1.8m (+10.1%), from €18.1m to €19.9m
of which Trade receivables: +€1.9m
- Tangible fixed assets +€1.5m
up €1.5m (+59.2%), from €2.6m to €4.1m
of which Other tangible fixed assets: +€1.2m
- Stocks and contracts -€500,180
down €500,180 (-9.7%), from €5.1m to €4.6m
Equity and liabilities
- Reserves +€2.0m
up €2.0m (+14.1%), from €14.5m to €16.5m
of which Distributable reserves: +€2.1m
- Debts after one year +€1.4m
up €1.4m (+311.3%), from €463,603 to €1.9m
- Trade debts -€862,611
down €862,611 (-10.5%), from €8.2m to €7.3m
Income statement
- Gross operating margin -€190,971
down €190,971 (-2.5%), from €7.6m to €7.4m
- Financial charges -€168,095
down €168,095 (-29.0%), from €580,456 to €412,361
- Staff costs +€141,029
up €141,029 (+9.8%), from €1.4m to €1.6m
- Financial income -€102,849
down €102,849 (-71.6%), from €143,693 to €40,844
- Depreciation +€100,825
up €100,825 (+16.7%), from €602,195 to €703,020
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.
Result 2024
€4.2m
Gross operating margin
-€190,971
Staff costs
-€141,029
Depreciation
-€100,825
Write-downs
+€45,293
Other operating charges
-€51,793
Financial income
-€102,849
Financial charges
+€168,095
Taxes
-€12,418
Result 2025
€3.8m
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.
From operations
+€2.6m
Investment
-€2.2m
Financing
-€142,447
Cash 2024
€1.3m
From operations (derived)
+€2.6m
Net result for the year
+€3.8m
Depreciation
+€703,020
Stocks and contracts
+€500,180
Receivables within one year
-€1.8m
Smaller working-capital items
+€1,176
Trade debts
-€862,611
Tax, wage and social debts
+€116,510
Other debts
+€181,142
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Financing
-€142,447
Debts after one year
+€1.4m
Current portion of long-term debt
+€194,728
Short-term financial debts
-€8,796
Contributions, distributions and other
-€1.8m
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,297,248 | €30,376,965 | +€3.1m | +11.3% |
| Fixed assets | 21/28 | €2,728,271 | €4,242,612 | +€1.5m | +55.5% |
| Intangible fixed assets | 21 | €166,509 | €164,194 | -€2,315 | -1.4% |
| Tangible fixed assets | 22/27 | €2,561,763 | €4,078,418 | +€1.5m | +59.2% |
| Plant, machinery and equipment | 23 | €1,662,586 | €1,742,608 | +€80,022 | +4.8% |
| Furniture and vehicles | 24 | €392,620 | €513,807 | +€121,188 | +30.9% |
| Leasing and similar rights | 25 | - | €132,460 | +€132,460 | |
| Other tangible fixed assets | 26 | €506,557 | €1,689,543 | +€1.2m | +233.5% |
| Current assets | 29/58 | €24,568,976 | €26,134,353 | +€1.6m | +6.4% |
| Stocks and contracts in progress | 3 | €5,131,964 | €4,631,784 | -€500,180 | -9.7% |
| Stocks | 30/36 | €5,131,964 | €4,631,784 | -€500,180 | -9.7% |
| Amounts receivable within one year | 40/41 | €18,101,646 | €19,936,647 | +€1.8m | +10.1% |
| Trade receivables | 40 | €17,617,495 | €19,494,848 | +€1.9m | +10.7% |
| Other amounts receivable | 41 | €484,151 | €441,800 | -€42,351 | -8.7% |
| Cash at bank and in hand | 54/58 | €1,332,795 | €1,565,921 | +€233,126 | +17.5% |
| Deferred charges and accrued income | 490/1 | €2,571 | €0 | -€2,571 | -100.0% |
| Total equity and liabilities | 10/49 | €27,297,248 | €30,376,965 | +€3.1m | +11.3% |
| Equity | 10/15 | €14,749,903 | €16,767,050 | +€2.0m | +13.7% |
| Contributions | 10/11 | €245,957 | €245,957 | = | 0.0% |
| Reserves | 13 | €14,466,229 | €16,504,748 | +€2.0m | +14.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,441,800 | €2,387,070 | -€54,730 | -2.2% |
| Distributable reserves | 133 | €12,024,429 | €14,117,678 | +€2.1m | +17.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €37,717 | €16,345 | -€21,372 | -56.7% |
| Amounts payable | 17/49 | €12,547,345 | €13,609,915 | +€1.1m | +8.5% |
| Amounts payable after more than one year | 17 | €463,603 | €1,906,596 | +€1.4m | +311.3% |
| Financial debts | 170/4 | €463,603 | €1,906,596 | +€1.4m | +311.3% |
| Amounts payable within one year | 42/48 | €12,078,978 | €11,699,951 | -€379,027 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €551,241 | €745,969 | +€194,728 | +35.3% |
| Financial debts | 43 | €535,312 | €526,517 | -€8,796 | -1.6% |
| Credit institutions | 430/8 | €535,312 | €526,517 | -€8,796 | -1.6% |
| Trade debts | 44 | €8,204,921 | €7,342,309 | -€862,611 | -10.5% |
| Suppliers | 440/4 | €8,204,921 | €7,342,309 | -€862,611 | -10.5% |
| Taxes, remuneration and social security | 45 | €440,095 | €556,605 | +€116,510 | +26.5% |
| Taxes | 450/3 | €141,791 | €239,116 | +€97,325 | +68.6% |
| Remuneration and social security | 454/9 | €298,304 | €317,489 | +€19,185 | +6.4% |
| Other amounts payable | 47/48 | €2,347,410 | €2,528,552 | +€181,142 | +7.7% |
| Accrued charges and deferred income | 492/3 | €4,763 | €3,368 | -€1,395 | -29.3% |
| Non-recurring operating income | 76A | €0 | €4,119 | +€4,119 | |
| Remuneration, social security and pensions | 62 | €1,446,208 | €1,587,236 | +€141,029 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €602,195 | €703,020 | +€100,825 | +16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,542 | -€53,835 | -€45,293 | -530.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €13,141 | €64,934 | +€51,793 | +394.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €7,564,692 | €7,373,722 | -€190,971 | -2.5% |
| Operating profit (loss) | 9901 | €5,511,690 | €5,072,366 | -€439,324 | -8.0% |
| Financial income | 75/76B | €143,693 | €40,844 | -€102,849 | -71.6% |
| Recurring financial income | 75 | €143,693 | €40,844 | -€102,849 | -71.6% |
| Financial charges | 65/66B | €580,456 | €412,361 | -€168,095 | -29.0% |
| Recurring financial charges | 65 | €580,456 | €412,361 | -€168,095 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €5,074,927 | €4,700,849 | -€374,078 | -7.4% |
| Income taxes | 67/77 | €899,911 | €912,330 | +€12,418 | +1.4% |
| Profit (loss) for the period | 9904 | €4,175,016 | €3,788,519 | -€386,497 | -9.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €842,000 | €997,770 | +€155,770 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,333,016 | €2,790,749 | -€542,267 | -16.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.