SYSTOLE: 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.
SYSTOLE
Largest movements
- Tangible fixed assets +€777,786
up €777,786 (+32.4%), from €2.4m to €3.2m
- Cash +€89,974
up €89,974 (+738%), from €12,191 to €102,165
mainly Debts after one year (+€813,701) and Depreciation (+€75,238)
- Debts after one year +€813,701
up €813,701 (+39.7%), from €2.1m to €2.9m
of which Financial debts: +€978,701
- Gross operating margin -€36,263
down €36,263 (-19.6%), from €185,000 to €148,737
- Depreciation +€22,046
up €22,046 (+41.4%), from €53,192 to €75,238
- Financial charges +€14,434
up €14,434 (+52.2%), from €27,644 to €42,078
- Other operating charges -€13,356
down €13,356 (-52.6%), from €25,374 to €12,018
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 | €2,427,730 | €3,306,483 | +€878,753 | +36.2% |
| Fixed assets | 21/28 | €2,411,293 | €3,189,080 | +€777,786 | +32.3% |
| Tangible fixed assets | 22/27 | €2,401,043 | €3,178,829 | +€777,786 | +32.4% |
| Land and buildings | 22 | €2,401,043 | €3,178,829 | +€777,786 | +32.4% |
| Financial fixed assets | 28 | €10,250 | €10,250 | = | 0.0% |
| Current assets | 29/58 | €16,436 | €117,403 | +€100,967 | +614% |
| Amounts receivable within one year | 40/41 | €4,245 | €15,238 | +€10,992 | +259% |
| Other amounts receivable | 41 | €4,245 | €15,238 | +€10,992 | +259% |
| Cash at bank and in hand | 54/58 | €12,191 | €102,165 | +€89,974 | +738% |
| Total equity and liabilities | 10/49 | €2,427,730 | €3,306,483 | +€878,753 | +36.2% |
| Equity | 10/15 | -€64,382 | -€44,979 | +€19,403 | +30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,842 | -€65,439 | +€19,403 | +22.9% |
| Amounts payable | 17/49 | €2,492,112 | €3,351,462 | +€859,350 | +34.5% |
| Amounts payable after more than one year | 17 | €2,051,462 | €2,865,163 | +€813,701 | +39.7% |
| Financial debts | 170/4 | €691,462 | €1,670,163 | +€978,701 | +142% |
| Other amounts payable | 178/9 | €1,360,000 | €1,195,000 | -€165,000 | -12.1% |
| Amounts payable within one year | 42/48 | €438,884 | €486,299 | +€47,415 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €32,656 | €33,237 | +€581 | +1.8% |
| Trade debts | 44 | €2,397 | €16,109 | +€13,712 | +572% |
| Suppliers | 440/4 | €2,397 | €16,109 | +€13,712 | +572% |
| Taxes, remuneration and social security | 45 | €2,007 | €23,080 | +€21,073 | +1,050% |
| Taxes | 450/3 | €2,007 | €23,080 | +€21,073 | +1,050% |
| Other amounts payable | 47/48 | €401,823 | €413,873 | +€12,050 | +3.0% |
| Accrued charges and deferred income | 492/3 | €1,766 | - | -€1,766 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,192 | €75,238 | +€22,046 | +41.4% |
| Other operating charges | 640/8 | €25,374 | €12,018 | -€13,356 | -52.6% |
| Gross operating margin | 9900 | €185,000 | €148,737 | -€36,263 | -19.6% |
| Operating profit (loss) | 9901 | €106,434 | €61,481 | -€44,953 | -42.2% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €27,644 | €42,078 | +€14,434 | +52.2% |
| Recurring financial charges | 65 | €27,644 | €42,078 | +€14,434 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | €78,793 | €19,403 | -€59,390 | -75.4% |
| Profit (loss) for the period | 9904 | €78,793 | €19,403 | -€59,390 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,793 | €19,403 | -€59,390 | -75.4% |
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 23 October 2026 via checked.be.