Le Sequin: 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.
Le Sequin
Largest movements
- Tangible fixed assets +€230,442
up €230,442 (+36462.3%), from €632 to €231,074
of which Land and buildings: +€230,819
- Receivables within one year +€13,752
up €13,752 (+123.8%), from €11,107 to €24,859
of which Other amounts receivable: +€22,988
- Deferred charges and accrued income -€3,811
no longer reported in 2025 (was €3,811)
- Debts after one year +€194,239
new in 2025: €194,239
- Other debts +€47,017
up €47,017 (+338.0%), from €13,912 to €60,929
- Profit (loss) carried forward -€23,817
down €23,817, from €8,658 to -€15,159
- Tax, wage and social debts +€21,398
up €21,398 (+155.5%), from €13,758 to €35,156
of which Taxes: +€24,511
- Current portion of long-term debt +€4,777
new in 2025: €4,777
- Gross operating margin -€64,403
down €64,403, from €59,766 to -€4,637
- Staff costs -€33,973
down €33,973 (-77.3%), from €43,941 to €9,968
- Financial charges +€1,978
up €1,978 (+251.7%), from €786 to €2,764
- Depreciation +€1,636
up €1,636 (+46.1%), from €3,549 to €5,185
- Other operating charges +€832
up €832 (+193.0%), from €431 to €1,263
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.
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 | €50,964 | €290,793 | +€239,829 | +470.6% |
| Formation expenses | 20 | €1,554 | €1,037 | -€517 | -33.3% |
| Fixed assets | 21/28 | €21,862 | €249,650 | +€227,788 | +1041.9% |
| Intangible fixed assets | 21 | €21,230 | €18,576 | -€2,654 | -12.5% |
| Tangible fixed assets | 22/27 | €632 | €231,074 | +€230,442 | +36462.3% |
| Land and buildings | 22 | - | €230,819 | +€230,819 | |
| Furniture and vehicles | 24 | €632 | €255 | -€377 | -59.7% |
| Current assets | 29/58 | €27,548 | €40,106 | +€12,558 | +45.6% |
| Stocks and contracts in progress | 3 | €5,599 | €5,510 | -€89 | -1.6% |
| Stocks | 30/36 | €5,599 | €5,510 | -€89 | -1.6% |
| Amounts receivable within one year | 40/41 | €11,107 | €24,859 | +€13,752 | +123.8% |
| Trade receivables | 40 | €9,602 | €366 | -€9,236 | -96.2% |
| Other amounts receivable | 41 | €1,505 | €24,493 | +€22,988 | +1527.4% |
| Cash at bank and in hand | 54/58 | €7,031 | €9,737 | +€2,706 | +38.5% |
| Deferred charges and accrued income | 490/1 | €3,811 | - | -€3,811 | |
| Total equity and liabilities | 10/49 | €50,964 | €290,793 | +€239,829 | +470.6% |
| Equity | 10/15 | €11,158 | -€12,659 | -€23,817 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,658 | -€15,159 | -€23,817 | |
| Amounts payable | 17/49 | €39,806 | €303,452 | +€263,646 | +662.3% |
| Amounts payable after more than one year | 17 | - | €194,239 | +€194,239 | |
| Financial debts | 170/4 | - | €194,239 | +€194,239 | |
| Amounts payable within one year | 42/48 | €39,806 | €109,213 | +€69,407 | +174.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,777 | +€4,777 | |
| Trade debts | 44 | €12,136 | €8,351 | -€3,785 | -31.2% |
| Suppliers | 440/4 | €12,136 | €8,351 | -€3,785 | -31.2% |
| Taxes, remuneration and social security | 45 | €13,758 | €35,156 | +€21,398 | +155.5% |
| Taxes | 450/3 | €10,544 | €35,055 | +€24,511 | +232.5% |
| Remuneration and social security | 454/9 | €3,214 | €101 | -€3,113 | -96.9% |
| Other amounts payable | 47/48 | €13,912 | €60,929 | +€47,017 | +338.0% |
| Remuneration, social security and pensions | 62 | €43,941 | €9,968 | -€33,973 | -77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,549 | €5,185 | +€1,636 | +46.1% |
| Other operating charges | 640/8 | €431 | €1,263 | +€832 | +193.0% |
| Gross operating margin | 9900 | €59,766 | -€4,637 | -€64,403 | |
| Operating profit (loss) | 9901 | €11,845 | -€21,053 | -€32,898 | |
| Financial charges | 65/66B | €786 | €2,764 | +€1,978 | +251.7% |
| Recurring financial charges | 65 | €786 | €2,764 | +€1,978 | +251.7% |
| Profit (loss) for the period before taxes | 9903 | €11,059 | -€23,817 | -€34,876 | |
| Income taxes | 67/77 | €163 | - | -€163 | |
| Profit (loss) for the period | 9904 | €10,896 | -€23,817 | -€34,713 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,896 | -€23,817 | -€34,713 |
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 5 October 2026 via checked.be.