S.Y. SETRA: what changed
Two financial 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.Y. SETRA
Largest movements
- Receivables within one year -€18,093
down €18,093 (-62.6%), from €28,890 to €10,797
of which Trade receivables: -€21,644
- Cash -€6,282
down €6,282 (-8.7%), from €71,993 to €65,711
mainly Net result for the year (-€11,488) and Other debts (-€5,384)
- Reserves +€39,663
up €39,663 (+43.0%), from €92,142 to €131,805
- Contributions -€39,663
no longer reported in 2025 (was €39,663)
- Profit (loss) carried forward -€11,488
down €11,488 (-50.9%), from -€22,560 to -€34,048
- Other debts -€5,384
no longer reported in 2025 (was €5,384)
- Trade debts -€4,218
no longer reported in 2025 (was €4,218)
- Gross operating margin -€20,430
down €20,430, from €10,912 to -€9,519
- Taxes +€15,110
up €15,110, from -€12,771 to €2,339
- Financial income +€754
up €754 (+1,044%), from €72 to €826
of which Financial income: +€614
- Other operating charges -€213
down €213 (-34.8%), from €613 to €400
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.
Derived cash bridge
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 | €122,133 | €97,757 | -€24,375 | -20.0% |
| Fixed assets | 21/28 | €21,250 | €21,250 | = | 0.0% |
| Tangible fixed assets | 22/27 | €21,250 | €21,250 | = | 0.0% |
| Furniture and vehicles | 24 | €21,250 | €21,250 | = | 0.0% |
| Current assets | 29/58 | €100,883 | €76,507 | -€24,375 | -24.2% |
| Amounts receivable within one year | 40/41 | €28,890 | €10,797 | -€18,093 | -62.6% |
| Trade receivables | 40 | €27,244 | €5,600 | -€21,644 | -79.4% |
| Other amounts receivable | 41 | €1,646 | €5,197 | +€3,550 | +216% |
| Cash at bank and in hand | 54/58 | €71,993 | €65,711 | -€6,282 | -8.7% |
| Total equity and liabilities | 10/49 | €122,133 | €97,757 | -€24,375 | -20.0% |
| Equity | 10/15 | €109,245 | €97,757 | -€11,488 | -10.5% |
| Contributions | 10/11 | €39,663 | - | -€39,663 | |
| Reserves | 13 | €92,142 | €131,805 | +€39,663 | +43.0% |
| Distributable reserves | 133 | €92,142 | €131,805 | +€39,663 | +43.0% |
| Profit (loss) carried forward | 14 | -€22,560 | -€34,048 | -€11,488 | -50.9% |
| Amounts payable | 17/49 | €12,888 | - | -€12,888 | |
| Amounts payable within one year | 42/48 | €12,888 | - | -€12,888 | |
| Trade debts | 44 | €4,218 | - | -€4,218 | |
| Suppliers | 440/4 | €4,218 | - | -€4,218 | |
| Taxes, remuneration and social security | 45 | €3,286 | - | -€3,286 | |
| Taxes | 450/3 | €3,286 | - | -€3,286 | |
| Other amounts payable | 47/48 | €5,384 | - | -€5,384 | |
| Other operating charges | 640/8 | €613 | €400 | -€213 | -34.8% |
| Gross operating margin | 9900 | €10,912 | -€9,519 | -€20,430 | |
| Operating profit (loss) | 9901 | €10,299 | -€9,919 | -€20,217 | |
| Financial income | 75/76B | €72 | €826 | +€754 | +1,044% |
| Recurring financial income | 75 | €72 | €687 | +€614 | +851% |
| Non-recurring financial income | 76B | - | €140 | +€140 | |
| Financial charges | 65/66B | - | €56 | +€56 | |
| Recurring financial charges | 65 | - | €56 | +€56 | |
| Profit (loss) for the period before taxes | 9903 | €10,371 | -€9,148 | -€19,519 | |
| Income taxes | 67/77 | -€12,771 | €2,339 | +€15,110 | |
| Profit (loss) for the period | 9904 | €23,142 | -€11,488 | -€34,630 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,142 | -€11,488 | -€34,630 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.