GROUP SE: 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.
GROUP SE
Largest movements
- Cash +€61,356
up €61,356 (+165.3%), from €37,117 to €98,472
mainly Net result for the year (+€56,727) and Tax, wage and social debts (+€18,689)
- Current investments +€22,000
new in 2025: €22,000
- Receivables within one year -€10,588
down €10,588 (-51.7%), from €20,468 to €9,880
of which Trade receivables: -€11,936
- Reserves +€54,091
up €54,091 (+188.1%), from €28,752 to €82,843
- Tax, wage and social debts +€18,689
up €18,689 (+91.8%), from €20,353 to €39,043
- Other debts +€1,817
up €1,817 (+107.1%), from €1,696 to €3,514
- Trade debts -€1,655
down €1,655 (-45.2%), from €3,663 to €2,008
- Gross operating margin +€32,417
up €32,417 (+73.1%), from €44,359 to €76,776
- Taxes +€5,138
up €5,138 (+46.4%), from €11,082 to €16,220
- Depreciation -€3,379
down €3,379 (-100.0%), from €3,379 to €0
- Financial charges +€1,071
up €1,071 (+6362.3%), from €17 to €1,088
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 | €58,465 | €131,408 | +€72,943 | +124.8% |
| Current assets | 29/58 | €58,465 | €131,408 | +€72,943 | +124.8% |
| Amounts receivable within one year | 40/41 | €20,468 | €9,880 | -€10,588 | -51.7% |
| Trade receivables | 40 | €19,909 | €7,974 | -€11,936 | -60.0% |
| Other amounts receivable | 41 | €558 | €1,906 | +€1,348 | +241.4% |
| Current investments | 50/53 | - | €22,000 | +€22,000 | |
| Cash at bank and in hand | 54/58 | €37,117 | €98,472 | +€61,356 | +165.3% |
| Deferred charges and accrued income | 490/1 | €881 | €1,055 | +€175 | +19.8% |
| Total equity and liabilities | 10/49 | €58,465 | €131,408 | +€72,943 | +124.8% |
| Equity | 10/15 | €32,752 | €86,843 | +€54,091 | +165.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €28,752 | €82,843 | +€54,091 | +188.1% |
| Distributable reserves | 133 | €28,752 | €82,843 | +€54,091 | +188.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €25,713 | €44,565 | +€18,852 | +73.3% |
| Amounts payable within one year | 42/48 | €25,713 | €44,565 | +€18,852 | +73.3% |
| Trade debts | 44 | €3,663 | €2,008 | -€1,655 | -45.2% |
| Suppliers | 440/4 | €3,663 | €2,008 | -€1,655 | -45.2% |
| Taxes, remuneration and social security | 45 | €20,353 | €39,043 | +€18,689 | +91.8% |
| Taxes | 450/3 | €20,353 | €39,043 | +€18,689 | +91.8% |
| Other amounts payable | 47/48 | €1,696 | €3,514 | +€1,817 | +107.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,379 | €0 | -€3,379 | -100.0% |
| Other operating charges | 640/8 | €1,129 | €1,034 | -€95 | -8.4% |
| Non-recurring operating charges | 66A | - | €1,779 | +€1,779 | |
| Gross operating margin | 9900 | €44,359 | €76,776 | +€32,417 | +73.1% |
| Operating profit (loss) | 9901 | €39,851 | €73,963 | +€34,112 | +85.6% |
| Financial income | 75/76B | - | €71 | +€71 | |
| Recurring financial income | 75 | - | €71 | +€71 | |
| Financial charges | 65/66B | €17 | €1,088 | +€1,071 | +6362.3% |
| Recurring financial charges | 65 | €17 | €1,088 | +€1,071 | +6362.3% |
| Profit (loss) for the period before taxes | 9903 | €39,834 | €72,947 | +€33,113 | +83.1% |
| Income taxes | 67/77 | €11,082 | €16,220 | +€5,138 | +46.4% |
| Profit (loss) for the period | 9904 | €28,752 | €56,727 | +€27,975 | +97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,752 | €56,727 | +€27,975 | +97.3% |
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 8 October 2026 via checked.be.