S.E. INDUSTRIES: 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.
What changed
S.E. INDUSTRIES
NACE 28.990, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €4.9m-€1.9m
Equity
€47.3m
2024 · €44.3m+€3.0m
Cash
€3.0m
2024 · €2.4m+€624,526
Balance sheet total
€51.6m
2024 · €48.5m+€3.1m
Largest movements
Assets
- Tangible fixed assets +€2.6m
up €2.6m (+43.0%), from €6.0m to €8.5m
of which Land and buildings: +€2.3m
- Current investments -€696,689
down €696,689 (-1.8%), from €39.5m to €38.8m
- Receivables within one year +€646,003
up €646,003 (+121.6%), from €531,186 to €1.2m
of which Other amounts receivable: +€432,285
- Cash +€624,526
up €624,526 (+26.2%), from €2.4m to €3.0m
mainly Net result for the year (+€3.0m) and Trade debts (+€1.2m)
Equity and liabilities
- Reserves +€3.0m
up €3.0m (+7.0%), from €42.7m to €45.7m
of which Distributable reserves: +€3.1m
- Trade debts +€1.2m
up €1.2m (+1099.1%), from €112,918 to €1.4m
- Debts after one year -€1.0m
down €1.0m (-50.0%), from €2.0m to €1.0m
Income statement
- Financial income +€432,010
up €432,010 (+16.6%), from €2.6m to €3.0m
- Services and other goods -€165,964
down €165,964 (-33.8%), from €490,843 to €324,879
- Turnover -€73,055
down €73,055 (-4.4%), from €1.7m to €1.6m
- Other operating income +€49,311
up €49,311 (+94.4%), from €52,211 to €101,522
- Depreciation +€46,163
up €46,163 (+18.5%), from €248,963 to €295,125
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.
Result 2024
€4.9m
Turnover
-€73,055
Other operating income
+€49,311
Goods and materials
-€19,480
Services and other goods
+€165,964
Depreciation
-€46,163
Write-downs
-€26,523
Other operating charges
-€5,363
Other operating items
-€3.2m
Financial income
+€432,010
Financial charges
+€14,019
Taxes
-€13,707
Deferred taxes and other
+€815,934
Result 2025
€3.0m
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.
From operations
+€3.8m
Investment
-€2.2m
Financing
-€1.0m
Cash 2024
€2.4m
From operations (derived)
+€3.8m
Net result for the year
+€3.0m
Depreciation
+€295,125
Receivables within one year
-€646,003
Deferred charges and accrued income
+€36,067
Provisions
-€24,349
Trade debts
+€1.2m
Tax, wage and social debts
+€12,216
Other debts
+€126
Accrued charges and deferred income
-€112,352
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.9m
Current investments
+€696,689
Financing
-€1.0m
Debts after one year
-€1.0m
Short-term financial debts
-€88
Cash 2025
€3.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,517,451 | €51,623,879 | +€3.1m | +6.4% |
| Fixed assets | 21/28 | €5,994,773 | €8,563,426 | +€2.6m | +42.8% |
| Tangible fixed assets | 22/27 | €5,978,096 | €8,546,749 | +€2.6m | +43.0% |
| Land and buildings | 22 | €5,668,618 | €7,941,628 | +€2.3m | +40.1% |
| Plant, machinery and equipment | 23 | €306,379 | €602,022 | +€295,643 | +96.5% |
| Furniture and vehicles | 24 | €3,099 | €3,099 | = | 0.0% |
| Financial fixed assets | 28 | €16,678 | €16,678 | = | 0.0% |
| Affiliated companies | 280/1 | €15,493 | €15,493 | = | 0.0% |
| Participating interests | 280 | €15,493 | €15,493 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,185 | €1,185 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,185 | €1,185 | = | 0.0% |
| Current assets | 29/58 | €42,522,678 | €43,060,452 | +€537,775 | +1.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €531,186 | €1,177,189 | +€646,003 | +121.6% |
| Trade receivables | 40 | €79,248 | €292,967 | +€213,718 | +269.7% |
| Other amounts receivable | 41 | €451,937 | €884,222 | +€432,285 | +95.7% |
| Current investments | 50/53 | €39,512,178 | €38,815,490 | -€696,689 | -1.8% |
| Other investments | 51/53 | €39,512,178 | €38,815,490 | -€696,689 | -1.8% |
| Cash at bank and in hand | 54/58 | €2,385,508 | €3,010,035 | +€624,526 | +26.2% |
| Deferred charges and accrued income | 490/1 | €93,806 | €57,739 | -€36,067 | -38.4% |
| Total equity and liabilities | 10/49 | €48,517,451 | €51,623,879 | +€3.1m | +6.4% |
| Equity | 10/15 | €44,280,136 | €47,269,964 | +€3.0m | +6.8% |
| Contributions | 10/11 | €1,573,240 | €1,573,240 | = | 0.0% |
| Capital | 10 | €1,573,240 | €1,573,240 | = | 0.0% |
| Issued capital | 100 | €1,573,240 | €1,573,240 | = | 0.0% |
| Reserves | 13 | €42,670,804 | €45,660,632 | +€3.0m | +7.0% |
| Non-distributable reserves | 130/1 | €157,324 | €157,324 | = | 0.0% |
| Legal reserve | 130 | €157,324 | €157,324 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,842,597 | €2,769,550 | -€73,047 | -2.6% |
| Distributable reserves | 133 | €39,670,883 | €42,733,758 | +€3.1m | +7.7% |
| Investment grants | 15 | €36,092 | €36,092 | = | 0.0% |
| Provisions and deferred taxes | 16 | €959,554 | €935,205 | -€24,349 | -2.5% |
| Deferred taxes | 168 | €959,554 | €935,205 | -€24,349 | -2.5% |
| Amounts payable | 17/49 | €3,277,761 | €3,418,710 | +€140,948 | +4.3% |
| Amounts payable after more than one year | 17 | €2,000,000 | €1,000,000 | -€1.0m | -50.0% |
| Financial debts | 170/4 | €2,000,000 | €1,000,000 | -€1.0m | -50.0% |
| Credit institutions | 173 | €2,000,000 | €1,000,000 | -€1.0m | -50.0% |
| Amounts payable within one year | 42/48 | €1,117,075 | €2,370,376 | +€1.3m | +112.2% |
| Current portion of amounts payable after more than one year | 42 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 43 | €88 | €0 | -€88 | -100.0% |
| Credit institutions | 430/8 | €88 | €0 | -€88 | -100.0% |
| Trade debts | 44 | €112,918 | €1,353,964 | +€1.2m | +1099.1% |
| Suppliers | 440/4 | €112,918 | €1,353,964 | +€1.2m | +1099.1% |
| Taxes, remuneration and social security | 45 | €4,069 | €16,285 | +€12,216 | +300.2% |
| Taxes | 450/3 | €4,069 | €16,285 | +€12,216 | +300.2% |
| Other amounts payable | 47/48 | €0 | €126 | +€126 | |
| Accrued charges and deferred income | 492/3 | €160,686 | €48,334 | -€112,352 | -69.9% |
| Operating income | 70/76A | €4,934,310 | €1,685,372 | -€3.2m | -65.8% |
| Turnover | 70 | €1,656,905 | €1,583,850 | -€73,055 | -4.4% |
| Other operating income | 74 | €52,211 | €101,522 | +€49,311 | +94.4% |
| Non-recurring operating income | 76A | €3,225,194 | €0 | -€3.2m | -100.0% |
| Operating charges | 60/66A | €894,306 | €825,870 | -€68,436 | -7.7% |
| Goods for resale, raw materials and consumables | 60 | €0 | €19,480 | +€19,480 | |
| Purchases | 600/8 | €0 | €19,480 | +€19,480 | |
| Services and other goods | 61 | €490,843 | €324,879 | -€165,964 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,963 | €295,125 | +€46,163 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,523 | €0 | +€26,523 | |
| Other operating charges | 640/8 | €181,023 | €186,386 | +€5,363 | +3.0% |
| Operating profit (loss) | 9901 | €4,040,004 | €859,502 | -€3.2m | -78.7% |
| Financial income | 75/76B | €2,603,360 | €3,035,370 | +€432,010 | +16.6% |
| Recurring financial income | 75 | €2,603,360 | €3,035,370 | +€432,010 | +16.6% |
| Income from current assets | 751 | €2,172,055 | €2,415,466 | +€243,412 | +11.2% |
| Other financial income | 752/9 | €431,306 | €619,904 | +€188,598 | +43.7% |
| Financial charges | 65/66B | €519,501 | €505,482 | -€14,019 | -2.7% |
| Recurring financial charges | 65 | €519,501 | €505,482 | -€14,019 | -2.7% |
| Debt charges | 650 | €24,691 | €17,399 | -€7,292 | -29.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€155,419 | €314,175 | +€469,593 | |
| Other financial charges | 652/9 | €650,229 | €173,909 | -€476,320 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €6,123,862 | €3,389,389 | -€2.7m | -44.7% |
| Transfer from deferred taxes | 780 | €14,713 | €24,349 | +€9,636 | +65.5% |
| Transfer to deferred taxes | 680 | €806,298 | €0 | -€806,298 | -100.0% |
| Income taxes | 67/77 | €410,203 | €423,910 | +€13,707 | +3.3% |
| Taxes | 670/3 | €410,203 | €423,910 | +€13,707 | +3.3% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €4,922,074 | €2,989,828 | -€1.9m | -39.3% |
| Transfer from tax-exempt reserves | 789 | €44,139 | €73,047 | +€28,908 | +65.5% |
| Transfer to tax-exempt reserves | 689 | €2,418,895 | €0 | -€2.4m | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,547,318 | €3,062,875 | +€515,557 | +20.2% |
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 4 October 2026 via checked.be.