S.E Books: 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.
S.E Books
Largest movements
- Receivables within one year -€13,413
down €13,413 (-81.8%), from €16,401 to €2,987
of which Trade receivables: -€13,399
- Cash -€10,978
down €10,978 (-24.9%), from €44,023 to €33,046
mainly Debts after one year (-€12,802) and Tax, wage and social debts (-€10,948)
- Intangible fixed assets -€3,430
down €3,430 (-13.5%), from €25,421 to €21,991
- Tangible fixed assets -€1,407
down €1,407 (-3.1%), from €44,728 to €43,320
of which Other tangible fixed assets: -€5,819
- Debts after one year -€12,802
down €12,802 (-30.7%), from €41,633 to €28,832
- Tax, wage and social debts -€10,948
down €10,948 (-48.5%), from €22,591 to €11,643
of which Taxes: -€8,409
- Accrued charges and deferred income -€7,825
no longer reported in 2025 (was €7,825)
- Profit (loss) carried forward +€1,811
up €1,811 (+17.9%), from -€10,124 to -€8,313
- Staff costs -€34,008
down €34,008 (-43.5%), from €78,162 to €44,154
- Gross operating margin -€20,980
down €20,980 (-24.9%), from €84,229 to €63,250
- Taxes +€1,260
up €1,260 (+746.6%), from €169 to €1,429
- Financial charges -€1,071
down €1,071 (-26.8%), from €3,998 to €2,928
- Depreciation +€953
up €953 (+9.6%), from €9,964 to €10,917
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 | €130,573 | €101,344 | -€29,229 | -22.4% |
| Fixed assets | 21/28 | €70,149 | €65,312 | -€4,838 | -6.9% |
| Intangible fixed assets | 21 | €25,421 | €21,991 | -€3,430 | -13.5% |
| Tangible fixed assets | 22/27 | €44,728 | €43,320 | -€1,407 | -3.1% |
| Furniture and vehicles | 24 | €1,577 | €5,989 | +€4,412 | +279.7% |
| Other tangible fixed assets | 26 | €43,150 | €37,331 | -€5,819 | -13.5% |
| Current assets | 29/58 | €60,424 | €36,033 | -€24,391 | -40.4% |
| Amounts receivable within one year | 40/41 | €16,401 | €2,987 | -€13,413 | -81.8% |
| Trade receivables | 40 | €16,386 | €2,987 | -€13,399 | -81.8% |
| Other amounts receivable | 41 | €14 | - | -€14 | |
| Cash at bank and in hand | 54/58 | €44,023 | €33,046 | -€10,978 | -24.9% |
| Total equity and liabilities | 10/49 | €130,573 | €101,344 | -€29,229 | -22.4% |
| Equity | 10/15 | €42,377 | €44,189 | +€1,811 | +4.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €50,002 | €50,002 | = | 0.0% |
| Distributable reserves | 133 | €50,002 | €50,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,124 | -€8,313 | +€1,811 | +17.9% |
| Amounts payable | 17/49 | €88,196 | €57,156 | -€31,040 | -35.2% |
| Amounts payable after more than one year | 17 | €41,633 | €28,832 | -€12,802 | -30.7% |
| Financial debts | 170/4 | €41,633 | €28,832 | -€12,802 | -30.7% |
| Amounts payable within one year | 42/48 | €38,737 | €28,324 | -€10,413 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €12,420 | €12,802 | +€382 | +3.1% |
| Financial debts | 43 | - | €45 | +€45 | |
| Credit institutions | 430/8 | - | €45 | +€45 | |
| Trade debts | 44 | €760 | €1,963 | +€1,203 | +158.3% |
| Suppliers | 440/4 | €760 | €1,963 | +€1,203 | +158.3% |
| Taxes, remuneration and social security | 45 | €22,591 | €11,643 | -€10,948 | -48.5% |
| Taxes | 450/3 | €16,417 | €8,007 | -€8,409 | -51.2% |
| Remuneration and social security | 454/9 | €6,174 | €3,636 | -€2,539 | -41.1% |
| Other amounts payable | 47/48 | €2,967 | €1,872 | -€1,095 | -36.9% |
| Accrued charges and deferred income | 492/3 | €7,825 | - | -€7,825 | |
| Remuneration, social security and pensions | 62 | €78,162 | €44,154 | -€34,008 | -43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,964 | €10,917 | +€953 | +9.6% |
| Other operating charges | 640/8 | €2,061 | €2,011 | -€50 | -2.4% |
| Gross operating margin | 9900 | €84,229 | €63,250 | -€20,980 | -24.9% |
| Operating profit (loss) | 9901 | -€5,957 | €6,168 | +€12,125 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +42.9% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +42.9% |
| Financial charges | 65/66B | €3,998 | €2,928 | -€1,071 | -26.8% |
| Recurring financial charges | 65 | €3,998 | €2,928 | -€1,071 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,956 | €3,241 | +€13,196 | |
| Income taxes | 67/77 | €169 | €1,429 | +€1,260 | +746.6% |
| Profit (loss) for the period | 9904 | -€10,124 | €1,811 | +€11,936 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,124 | €1,811 | +€11,936 |
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.