SE-S MANAGEMENT: 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.
What changed
SE-S MANAGEMENT
NACE 73.300, Public relations and communication consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€26,228
2024 · €11,443-€37,671
Equity
€653,654
2024 · €679,882-€26,228
Cash
€22,970
2024 · €26,736-€3,766
Balance sheet total
€1.4m
2024 · €1.4m-€30,516
Largest movements
Assets
- Tangible fixed assets -€16,003
down €16,003 (-27.8%), from €57,557 to €41,553
of which Furniture and vehicles: -€14,977
Equity and liabilities
- Reserves -€26,228
down €26,228 (-3.9%), from €677,132 to €650,904
Income statement
- Gross operating margin -€37,765
down €37,765, from €33,335 to -€4,430
- Taxes -€5,036
down €5,036 (-94.4%), from €5,337 to €301
- Financial charges +€3,947
up €3,947 (+235%), from €1,682 to €5,628
- Financial income -€657
down €657 (-42.3%), from €1,553 to €897
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
€11,443
Gross operating margin
-€37,765
Depreciation
-€121
Other operating charges
-€218
Financial income
-€657
Financial charges
-€3,947
Taxes
+€5,036
Result 2025
-€26,228
raises the resultlowers the result
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.
From operations
+€3,596
Investment
€0
Financing
-€7,361
Cash 2024
€26,736
From operations (derived)
+€3,596
Net result for the year
-€26,228
Depreciation
+€16,003
Receivables within one year
+€10,790
Deferred charges and accrued income
-€44
Trade debts
-€1,804
Tax, wage and social debts
-€8,461
Other debts
+€13,339
Financing
-€7,361
Debts after one year
-€8,837
Current portion of long-term debt
+€464
Short-term financial debts
+€1,011
Cash 2025
€22,970
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,391,284 | €1,360,768 | -€30,516 | -2.2% |
| Fixed assets | 21/28 | €1,308,763 | €1,292,759 | -€16,003 | -1.2% |
| Tangible fixed assets | 22/27 | €57,557 | €41,553 | -€16,003 | -27.8% |
| Plant, machinery and equipment | 23 | €2,285 | €1,259 | -€1,026 | -44.9% |
| Furniture and vehicles | 24 | €55,271 | €40,294 | -€14,977 | -27.1% |
| Financial fixed assets | 28 | €1,251,206 | €1,251,206 | = | 0.0% |
| Current assets | 29/58 | €82,521 | €68,009 | -€14,512 | -17.6% |
| Amounts receivable within one year | 40/41 | €46,255 | €35,465 | -€10,790 | -23.3% |
| Trade receivables | 40 | €18,948 | €18,948 | = | 0.0% |
| Other amounts receivable | 41 | €27,308 | €16,517 | -€10,790 | -39.5% |
| Cash at bank and in hand | 54/58 | €26,736 | €22,970 | -€3,766 | -14.1% |
| Deferred charges and accrued income | 490/1 | €9,530 | €9,574 | +€44 | +0.5% |
| Total equity and liabilities | 10/49 | €1,391,284 | €1,360,768 | -€30,516 | -2.2% |
| Equity | 10/15 | €679,882 | €653,654 | -€26,228 | -3.9% |
| Contributions | 10/11 | €2,750 | €2,750 | = | 0.0% |
| Reserves | 13 | €677,132 | €650,904 | -€26,228 | -3.9% |
| Distributable reserves | 133 | €677,132 | €650,904 | -€26,228 | -3.9% |
| Amounts payable | 17/49 | €711,402 | €707,114 | -€4,287 | -0.6% |
| Amounts payable after more than one year | 17 | €15,785 | €6,948 | -€8,837 | -56.0% |
| Financial debts | 170/4 | €15,785 | €6,948 | -€8,837 | -56.0% |
| Amounts payable within one year | 42/48 | €695,617 | €700,166 | +€4,550 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €8,373 | €8,837 | +€464 | +5.5% |
| Financial debts | 43 | - | €1,011 | +€1,011 | |
| Credit institutions | 430/8 | - | €1,011 | +€1,011 | |
| Trade debts | 44 | €4,819 | €3,014 | -€1,804 | -37.4% |
| Suppliers | 440/4 | €4,819 | €3,014 | -€1,804 | -37.4% |
| Taxes, remuneration and social security | 45 | €14,763 | €6,303 | -€8,461 | -57.3% |
| Taxes | 450/3 | €10,099 | €6,303 | -€3,796 | -37.6% |
| Remuneration and social security | 454/9 | €4,664 | €0 | -€4,664 | -100% |
| Other amounts payable | 47/48 | €667,662 | €681,001 | +€13,339 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,882 | €16,003 | +€121 | +0.8% |
| Other operating charges | 640/8 | €544 | €762 | +€218 | +40.2% |
| Gross operating margin | 9900 | €33,335 | -€4,430 | -€37,765 | |
| Operating profit (loss) | 9901 | €16,909 | -€21,195 | -€38,104 | |
| Financial income | 75/76B | €1,553 | €897 | -€657 | -42.3% |
| Recurring financial income | 75 | €1,553 | €897 | -€657 | -42.3% |
| Financial charges | 65/66B | €1,682 | €5,628 | +€3,947 | +235% |
| Recurring financial charges | 65 | €1,682 | €5,628 | +€3,947 | +235% |
| Profit (loss) for the period before taxes | 9903 | €16,780 | -€25,927 | -€42,707 | |
| Income taxes | 67/77 | €5,337 | €301 | -€5,036 | -94.4% |
| Profit (loss) for the period | 9904 | €11,443 | -€26,228 | -€37,671 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,443 | -€26,228 | -€37,671 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.