S.E.D.: 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.D.
Largest movements
- Cash -€5,267
down €5,267 (-4.0%), from €131,771 to €126,504
mainly Net result for the year (-€5,288)
- Profit (loss) carried forward -€5,288
down €5,288 (-22.2%), from -€23,857 to -€29,144
- Gross operating margin -€2,403
down €2,403 (-235.8%), from -€1,019 to -€3,422
- Other operating charges +€280
up €280 (+50.3%), from €557 to €837
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €280,528 | €275,240 | -€5,288 | -1.9% |
| Fixed assets | 21/28 | €148,736 | €148,736 | = | 0.0% |
| Financial fixed assets | 28 | €148,736 | €148,736 | = | 0.0% |
| Current assets | 29/58 | €131,792 | €126,504 | -€5,288 | -4.0% |
| Amounts receivable within one year | 40/41 | €21 | - | -€21 | |
| Trade receivables | 40 | €21 | - | -€21 | |
| Cash at bank and in hand | 54/58 | €131,771 | €126,504 | -€5,267 | -4.0% |
| Total equity and liabilities | 10/49 | €280,528 | €275,240 | -€5,288 | -1.9% |
| Equity | 10/15 | €280,528 | €275,240 | -€5,288 | -1.9% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €129,384 | €129,384 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,540 | €17,540 | = | 0.0% |
| Legal reserve | 130 | €17,540 | €17,540 | = | 0.0% |
| Distributable reserves | 133 | €111,844 | €111,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,857 | -€29,144 | -€5,288 | -22.2% |
| Other operating charges | 640/8 | €557 | €837 | +€280 | +50.3% |
| Gross operating margin | 9900 | -€1,019 | -€3,422 | -€2,403 | -235.8% |
| Operating profit (loss) | 9901 | -€1,576 | -€4,259 | -€2,683 | -170.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,029 | €1,029 | -€1 | -0.1% |
| Recurring financial charges | 65 | €1,029 | €1,029 | -€1 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,606 | -€5,288 | -€2,682 | -102.9% |
| Profit (loss) for the period | 9904 | -€2,606 | -€5,288 | -€2,682 | -102.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,606 | -€5,288 | -€2,682 | -102.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.