SE TRANS: 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.
SE TRANS
Largest movements
- Tangible fixed assets -€33,689
down €33,689 (-20.1%), from €167,775 to €134,086
of which Leasing and similar rights: -€31,471
- Receivables after one year +€5,000
up €5,000 (+14.3%), from €35,000 to €40,000
- Deferred charges and accrued income -€3,650
down €3,650 (-86.4%), from €4,225 to €575
- Receivables within one year -€3,524
down €3,524 (-8.8%), from €39,990 to €36,466
of which Other amounts receivable: -€5,965
- Debts after one year -€29,303
down €29,303 (-25.5%), from €115,008 to €85,705
- Other debts +€17,650
up €17,650 (+896.2%), from €1,969 to €19,620
- Trade debts -€14,305
down €14,305 (-44.2%), from €32,339 to €18,033
- Current portion of long-term debt -€8,383
down €8,383 (-22.4%), from €37,401 to €29,017
- Reserves -€4,000
down €4,000 (-10.2%), from €39,350 to €35,350
of which Distributable reserves: -€4,000
- Gross operating margin +€28,604
up €28,604 (+52.3%), from €54,721 to €83,325
- Depreciation +€10,427
up €10,427 (+41.0%), from €25,445 to €35,873
- Taxes +€6,746
up €6,746 (+359.6%), from €1,876 to €8,623
- Financial charges +€3,487
up €3,487 (+70.8%), from €4,929 to €8,416
- Other operating charges -€1,693
down €1,693 (-9.4%), from €18,036 to €16,343
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 | €257,870 | €221,720 | -€36,150 | -14.0% |
| Fixed assets | 21/28 | €176,775 | €143,086 | -€33,689 | -19.1% |
| Tangible fixed assets | 22/27 | €167,775 | €134,086 | -€33,689 | -20.1% |
| Plant, machinery and equipment | 23 | €319 | €94 | -€225 | -70.6% |
| Furniture and vehicles | 24 | €2,292 | €299 | -€1,993 | -86.9% |
| Leasing and similar rights | 25 | €165,164 | €133,693 | -€31,471 | -19.1% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €81,095 | €78,634 | -€2,462 | -3.0% |
| Amounts receivable after more than one year | 29 | €35,000 | €40,000 | +€5,000 | +14.3% |
| Other amounts receivable | 291 | €35,000 | €40,000 | +€5,000 | +14.3% |
| Amounts receivable within one year | 40/41 | €39,990 | €36,466 | -€3,524 | -8.8% |
| Trade receivables | 40 | €21,795 | €24,235 | +€2,441 | +11.2% |
| Other amounts receivable | 41 | €18,195 | €12,231 | -€5,965 | -32.8% |
| Cash at bank and in hand | 54/58 | €1,881 | €1,593 | -€288 | -15.3% |
| Deferred charges and accrued income | 490/1 | €4,225 | €575 | -€3,650 | -86.4% |
| Total equity and liabilities | 10/49 | €257,870 | €221,720 | -€36,150 | -14.0% |
| Equity | 10/15 | €47,794 | €43,982 | -€3,812 | -8.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,350 | €35,350 | -€4,000 | -10.2% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €39,250 | €35,250 | -€4,000 | -10.2% |
| Profit (loss) carried forward | 14 | €2,244 | €2,432 | +€188 | +8.4% |
| Amounts payable | 17/49 | €210,076 | €177,738 | -€32,338 | -15.4% |
| Amounts payable after more than one year | 17 | €115,008 | €85,705 | -€29,303 | -25.5% |
| Financial debts | 170/4 | €115,008 | €85,705 | -€29,303 | -25.5% |
| Amounts payable within one year | 42/48 | €94,849 | €91,804 | -€3,045 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €37,401 | €29,017 | -€8,383 | -22.4% |
| Financial debts | 43 | €18,987 | €21,354 | +€2,368 | +12.5% |
| Credit institutions | 430/8 | €18,987 | €21,354 | +€2,368 | +12.5% |
| Trade debts | 44 | €32,339 | €18,033 | -€14,305 | -44.2% |
| Suppliers | 440/4 | €32,339 | €18,033 | -€14,305 | -44.2% |
| Taxes, remuneration and social security | 45 | €4,154 | €3,779 | -€375 | -9.0% |
| Taxes | 450/3 | €4,154 | €3,779 | -€375 | -9.0% |
| Other amounts payable | 47/48 | €1,969 | €19,620 | +€17,650 | +896.2% |
| Accrued charges and deferred income | 492/3 | €219 | €228 | +€10 | +4.5% |
| Non-recurring operating income | 76A | €5,593 | - | -€5,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,445 | €35,873 | +€10,427 | +41.0% |
| Other operating charges | 640/8 | €18,036 | €16,343 | -€1,693 | -9.4% |
| Gross operating margin | 9900 | €54,721 | €83,325 | +€28,604 | +52.3% |
| Operating profit (loss) | 9901 | €11,239 | €31,109 | +€19,870 | +176.8% |
| Financial income | 75/76B | €964 | €1,118 | +€154 | +16.0% |
| Recurring financial income | 75 | €964 | €1,118 | +€154 | +16.0% |
| Financial charges | 65/66B | €4,929 | €8,416 | +€3,487 | +70.8% |
| Recurring financial charges | 65 | €4,929 | €8,416 | +€3,487 | +70.8% |
| Profit (loss) for the period before taxes | 9903 | €7,274 | €23,811 | +€16,536 | +227.3% |
| Income taxes | 67/77 | €1,876 | €8,623 | +€6,746 | +359.6% |
| Profit (loss) for the period | 9904 | €5,398 | €15,188 | +€9,790 | +181.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,398 | €15,188 | +€9,790 | +181.4% |
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 7 October 2026 via checked.be.