Systemworks: 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.
Systemworks
Largest movements
- Cash +€10,193
up €10,193 (+14.2%), from €71,907 to €82,100
mainly Net result for the year (+€38,902) and Depreciation (+€13,875)
- Tangible fixed assets -€6,290
down €6,290 (-1.9%), from €331,940 to €325,649
of which Land and buildings: -€10,906
- Reserves +€38,902
up €38,902 (+23.8%), from €163,572 to €202,474
of which Distributable reserves: +€38,902
- Debts after one year -€25,076
down €25,076 (-21.3%), from €117,748 to €92,672
- Tax, wage and social debts -€12,455
down €12,455 (-32.6%), from €38,195 to €25,740
of which Taxes: -€11,613
- Gross operating margin -€5,730
down €5,730 (-7.0%), from €81,934 to €76,204
- Depreciation +€1,016
up €1,016 (+7.9%), from €12,859 to €13,875
- Taxes -€862
down €862 (-5.0%), from €17,392 to €16,530
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 | €437,078 | €438,601 | +€1,523 | +0.3% |
| Fixed assets | 21/28 | €331,940 | €325,649 | -€6,290 | -1.9% |
| Tangible fixed assets | 22/27 | €331,940 | €325,649 | -€6,290 | -1.9% |
| Land and buildings | 22 | €328,433 | €317,526 | -€10,906 | -3.3% |
| Plant, machinery and equipment | 23 | - | €3,836 | +€3,836 | |
| Furniture and vehicles | 24 | €3,507 | €4,287 | +€780 | +22.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €105,138 | €112,951 | +€7,813 | +7.4% |
| Amounts receivable within one year | 40/41 | €32,421 | €30,105 | -€2,316 | -7.1% |
| Trade receivables | 40 | €22,379 | €25,237 | +€2,858 | +12.8% |
| Other amounts receivable | 41 | €10,043 | €4,868 | -€5,175 | -51.5% |
| Current investments | 50/53 | €197 | €197 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,907 | €82,100 | +€10,193 | +14.2% |
| Deferred charges and accrued income | 490/1 | €613 | €550 | -€64 | -10.4% |
| Total equity and liabilities | 10/49 | €437,078 | €438,601 | +€1,523 | +0.3% |
| Equity | 10/15 | €239,670 | €278,573 | +€38,902 | +16.2% |
| Contributions | 10/11 | €75,500 | €75,500 | = | 0.0% |
| Reserves | 13 | €163,572 | €202,474 | +€38,902 | +23.8% |
| Non-distributable reserves | 130/1 | €6,021 | €6,021 | = | 0.0% |
| Other | 1319 | €6,021 | €6,021 | = | 0.0% |
| Distributable reserves | 133 | €157,551 | €196,453 | +€38,902 | +24.7% |
| Profit (loss) carried forward | 14 | €599 | €599 | = | 0.0% |
| Amounts payable | 17/49 | €197,408 | €160,028 | -€37,379 | -18.9% |
| Amounts payable after more than one year | 17 | €117,748 | €92,672 | -€25,076 | -21.3% |
| Financial debts | 170/4 | €117,748 | €92,672 | -€25,076 | -21.3% |
| Amounts payable within one year | 42/48 | €77,722 | €66,421 | -€11,301 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €24,427 | €25,076 | +€649 | +2.7% |
| Financial debts | 43 | - | €35 | +€35 | |
| Credit institutions | 430/8 | - | €35 | +€35 | |
| Trade debts | 44 | €2,265 | €1,684 | -€581 | -25.7% |
| Suppliers | 440/4 | €2,265 | €1,684 | -€581 | -25.7% |
| Taxes, remuneration and social security | 45 | €38,195 | €25,740 | -€12,455 | -32.6% |
| Taxes | 450/3 | €32,797 | €21,184 | -€11,613 | -35.4% |
| Remuneration and social security | 454/9 | €5,398 | €4,556 | -€842 | -15.6% |
| Other amounts payable | 47/48 | €12,834 | €13,886 | +€1,052 | +8.2% |
| Accrued charges and deferred income | 492/3 | €1,937 | €935 | -€1,002 | -51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,859 | €13,875 | +€1,016 | +7.9% |
| Other operating charges | 640/8 | €3,081 | €3,199 | +€119 | +3.9% |
| Gross operating margin | 9900 | €81,934 | €76,204 | -€5,730 | -7.0% |
| Operating profit (loss) | 9901 | €65,995 | €59,130 | -€6,865 | -10.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,309 | €3,698 | -€611 | -14.2% |
| Recurring financial charges | 65 | €4,309 | €3,698 | -€611 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €61,686 | €55,432 | -€6,254 | -10.1% |
| Income taxes | 67/77 | €17,392 | €16,530 | -€862 | -5.0% |
| Profit (loss) for the period | 9904 | €44,295 | €38,902 | -€5,392 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,295 | €38,902 | -€5,392 | -12.2% |
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 29 September 2026 via checked.be.