SYSTHERM: 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.
SYSTHERM
Largest movements
- Cash -€14,480
down €14,480 (-50.8%), from €28,491 to €14,010
mainly Accrued charges and deferred income (-€15,600) and Tax, wage and social debts (-€9,600)
- Tangible fixed assets -€7,784
down €7,784 (-20.7%), from €37,586 to €29,802
of which Furniture and vehicles: -€7,192
- Receivables within one year -€3,743
down €3,743 (-9.8%), from €38,190 to €34,447
of which Trade receivables: -€8,804
- Accrued charges and deferred income -€15,600
no longer reported in 2025 (was €15,600)
- Tax, wage and social debts -€9,600
down €9,600 (-51.9%), from €18,505 to €8,905
- Profit (loss) carried forward +€7,561
up €7,561 (+28.9%), from €26,198 to €33,759
- Debts after one year -€6,168
down €6,168 (-24.1%), from €25,570 to €19,402
- Trade debts -€3,233
down €3,233 (-60.8%), from €5,314 to €2,080
- Gross operating margin +€11,357
up €11,357 (+81.6%), from €13,924 to €25,281
- Other operating charges +€1,531
up €1,531 (+79.7%), from €1,921 to €3,451
- Taxes +€1,038
up €1,038 (+54.8%), from €1,896 to €2,934
- Financial charges +€651
up €651 (+25.3%), from €2,575 to €3,226
- Depreciation -€357
down €357 (-4.1%), from €8,620 to €8,263
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 | €105,183 | €78,374 | -€26,809 | -25.5% |
| Fixed assets | 21/28 | €37,701 | €29,917 | -€7,784 | -20.6% |
| Tangible fixed assets | 22/27 | €37,586 | €29,802 | -€7,784 | -20.7% |
| Plant, machinery and equipment | 23 | €2,376 | €2,070 | -€307 | -12.9% |
| Furniture and vehicles | 24 | €32,737 | €25,545 | -€7,192 | -22.0% |
| Other tangible fixed assets | 26 | €2,473 | €2,187 | -€286 | -11.6% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €67,482 | €48,457 | -€19,025 | -28.2% |
| Amounts receivable within one year | 40/41 | €38,190 | €34,447 | -€3,743 | -9.8% |
| Trade receivables | 40 | €23,926 | €15,123 | -€8,804 | -36.8% |
| Other amounts receivable | 41 | €14,263 | €19,324 | +€5,060 | +35.5% |
| Cash at bank and in hand | 54/58 | €28,491 | €14,010 | -€14,480 | -50.8% |
| Deferred charges and accrued income | 490/1 | €801 | - | -€801 | |
| Total equity and liabilities | 10/49 | €105,183 | €78,374 | -€26,809 | -25.5% |
| Equity | 10/15 | €34,258 | €41,819 | +€7,561 | +22.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,198 | €33,759 | +€7,561 | +28.9% |
| Amounts payable | 17/49 | €70,924 | €36,555 | -€34,370 | -48.5% |
| Amounts payable after more than one year | 17 | €25,570 | €19,402 | -€6,168 | -24.1% |
| Financial debts | 170/4 | €25,570 | €19,402 | -€6,168 | -24.1% |
| Amounts payable within one year | 42/48 | €29,755 | €17,153 | -€12,602 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €5,936 | €6,168 | +€232 | +3.9% |
| Trade debts | 44 | €5,314 | €2,080 | -€3,233 | -60.8% |
| Suppliers | 440/4 | €5,314 | €2,080 | -€3,233 | -60.8% |
| Taxes, remuneration and social security | 45 | €18,505 | €8,905 | -€9,600 | -51.9% |
| Taxes | 450/3 | €18,505 | €8,905 | -€9,600 | -51.9% |
| Accrued charges and deferred income | 492/3 | €15,600 | - | -€15,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,620 | €8,263 | -€357 | -4.1% |
| Other operating charges | 640/8 | €1,921 | €3,451 | +€1,531 | +79.7% |
| Gross operating margin | 9900 | €13,924 | €25,281 | +€11,357 | +81.6% |
| Operating profit (loss) | 9901 | €3,383 | €13,566 | +€10,183 | +301% |
| Financial income | 75/76B | €69 | €155 | +€86 | +125% |
| Recurring financial income | 75 | €69 | €155 | +€86 | +125% |
| Financial charges | 65/66B | €2,575 | €3,226 | +€651 | +25.3% |
| Recurring financial charges | 65 | €2,575 | €3,226 | +€651 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €877 | €10,495 | +€9,618 | +1,097% |
| Income taxes | 67/77 | €1,896 | €2,934 | +€1,038 | +54.8% |
| Profit (loss) for the period | 9904 | -€1,019 | €7,561 | +€8,580 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,019 | €7,561 | +€8,580 |
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 25 October 2026 via checked.be.