SYSTEMO: 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.
SYSTEMO
Largest movements
- Cash +€174,401
up €174,401 (+40.1%), from €434,988 to €609,389
mainly Net result for the year (+€111,984) and Receivables after one year (+€38,938)
- Receivables after one year -€38,938
down €38,938 (-5.0%), from €786,588 to €747,650
- Profit (loss) carried forward +€111,984
up €111,984 (+8.6%), from €1.3m to €1.4m
- Gross operating margin +€125,234
up €125,234 (+195.9%), from €63,913 to €189,147
- Financial income -€15,537
down €15,537 (-44.4%), from €35,018 to €19,481
- Taxes -€9,816
down €9,816 (-86.6%), from €11,336 to €1,519
- Staff costs +€2,132
up €2,132 (+2.6%), from €81,610 to €83,741
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 | €1,316,371 | €1,428,010 | +€111,639 | +8.5% |
| Fixed assets | 21/28 | €20,293 | €12,033 | -€8,260 | -40.7% |
| Tangible fixed assets | 22/27 | €20,293 | €12,033 | -€8,260 | -40.7% |
| Furniture and vehicles | 24 | €20,293 | €12,033 | -€8,260 | -40.7% |
| Current assets | 29/58 | €1,296,079 | €1,415,977 | +€119,899 | +9.3% |
| Amounts receivable after more than one year | 29 | €786,588 | €747,650 | -€38,938 | -5.0% |
| Other amounts receivable | 291 | €786,588 | €747,650 | -€38,938 | -5.0% |
| Amounts receivable within one year | 40/41 | €72,013 | €58,939 | -€13,074 | -18.2% |
| Trade receivables | 40 | €27,600 | €20,000 | -€7,600 | -27.5% |
| Other amounts receivable | 41 | €44,413 | €38,939 | -€5,474 | -12.3% |
| Cash at bank and in hand | 54/58 | €434,988 | €609,389 | +€174,401 | +40.1% |
| Deferred charges and accrued income | 490/1 | €2,490 | €0 | -€2,490 | -100.0% |
| Total equity and liabilities | 10/49 | €1,316,371 | €1,428,010 | +€111,639 | +8.5% |
| Equity | 10/15 | €1,301,425 | €1,413,409 | +€111,984 | +8.6% |
| Profit (loss) carried forward | 14 | €1,301,425 | €1,413,409 | +€111,984 | +8.6% |
| Amounts payable | 17/49 | €14,946 | €14,601 | -€346 | -2.3% |
| Amounts payable within one year | 42/48 | €14,946 | €14,601 | -€346 | -2.3% |
| Trade debts | 44 | €377 | €275 | -€102 | -27.1% |
| Suppliers | 440/4 | €377 | €275 | -€102 | -27.1% |
| Taxes, remuneration and social security | 45 | €14,570 | €14,326 | -€243 | -1.7% |
| Taxes | 450/3 | €410 | €411 | +€0 | +0.1% |
| Remuneration and social security | 454/9 | €14,159 | €13,915 | -€244 | -1.7% |
| Remuneration, social security and pensions | 62 | €81,610 | €83,741 | +€2,132 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,577 | €9,880 | +€304 | +3.2% |
| Other operating charges | 640/8 | €1,593 | €1,273 | -€320 | -20.1% |
| Gross operating margin | 9900 | €63,913 | €189,147 | +€125,234 | +195.9% |
| Operating profit (loss) | 9901 | -€28,866 | €94,253 | +€123,119 | |
| Financial income | 75/76B | €35,018 | €19,481 | -€15,537 | -44.4% |
| Recurring financial income | 75 | €35,018 | €19,481 | -€15,537 | -44.4% |
| Financial charges | 65/66B | €228 | €231 | +€3 | +1.1% |
| Recurring financial charges | 65 | €228 | €231 | +€3 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €5,924 | €113,504 | +€107,579 | +1815.9% |
| Income taxes | 67/77 | €11,336 | €1,519 | -€9,816 | -86.6% |
| Profit (loss) for the period | 9904 | -€5,411 | €111,984 | +€117,396 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,411 | €111,984 | +€117,396 |
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 4 October 2026 via checked.be.