SE2I: 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.
SE2I
Largest movements
- Tangible fixed assets -€72,890
down €72,890 (-3.5%), from €2.1m to €2.0m
of which Land and buildings: -€82,786
- Other debts -€195,337
down €195,337 (-47.0%), from €415,743 to €220,406
- Profit (loss) carried forward +€168,691
up €168,691 (+21.7%), from €776,717 to €945,407
- Current portion of long-term debt -€72,638
down €72,638 (-37.7%), from €192,857 to €120,219
- Short-term financial debts +€38,388
up €38,388 (+567.3%), from €6,766 to €45,154
of which Other loans: +€38,388
- Turnover +€94,000
up €94,000 (+58.0%), from €162,000 to €256,000
- Gross operating margin +€86,625
up €86,625 (+28.2%), from €307,424 to €394,049
- Purchases and services +€31,415
up €31,415 (+56.3%), from €55,823 to €87,238
- Taxes +€20,950
up €20,950 (+59.6%), from €35,160 to €56,110
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 | €2,126,955 | €2,055,954 | -€71,001 | -3.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,111,024 | €2,038,134 | -€72,890 | -3.5% |
| Tangible fixed assets | 22/27 | €2,110,974 | €2,038,085 | -€72,890 | -3.5% |
| Land and buildings | 22 | €2,084,839 | €2,002,052 | -€82,786 | -4.0% |
| Plant, machinery and equipment | 23 | €9,251 | €15,152 | +€5,901 | +63.8% |
| Furniture and vehicles | 24 | €16,885 | €20,881 | +€3,996 | +23.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €15,931 | €17,819 | +€1,888 | +11.9% |
| Amounts receivable within one year | 40/41 | €9,680 | €12,180 | +€2,500 | +25.8% |
| Trade receivables | 40 | €9,680 | €9,680 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €4,602 | €5,639 | +€1,038 | +22.5% |
| Deferred charges and accrued income | 490/1 | €1,649 | €0 | -€1,649 | -100.0% |
| Total equity and liabilities | 10/49 | €2,126,955 | €2,055,954 | -€71,001 | -3.3% |
| Equity | 10/15 | €1,488,417 | €1,657,107 | +€168,691 | +11.3% |
| Contributions | 10/11 | €647,000 | €647,000 | = | 0.0% |
| Capital | 10 | €647,000 | €647,000 | = | 0.0% |
| Issued capital | 100 | €647,000 | €647,000 | = | 0.0% |
| Reserves | 13 | €64,700 | €64,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €64,700 | €64,700 | = | 0.0% |
| Legal reserve | 130 | €64,700 | €64,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €776,717 | €945,407 | +€168,691 | +21.7% |
| Amounts payable | 17/49 | €638,538 | €398,846 | -€239,692 | -37.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €638,538 | €397,187 | -€241,351 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €192,857 | €120,219 | -€72,638 | -37.7% |
| Financial debts | 43 | €6,766 | €45,154 | +€38,388 | +567.3% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €6,766 | €45,154 | +€38,388 | +567.3% |
| Trade debts | 44 | €3,084 | €363 | -€2,720 | -88.2% |
| Suppliers | 440/4 | €3,084 | €363 | -€2,720 | -88.2% |
| Taxes, remuneration and social security | 45 | €20,089 | €11,045 | -€9,044 | -45.0% |
| Taxes | 450/3 | €20,089 | €11,045 | -€9,044 | -45.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €415,743 | €220,406 | -€195,337 | -47.0% |
| Accrued charges and deferred income | 492/3 | - | €1,659 | +€1,659 | |
| Turnover | 70 | €162,000 | €256,000 | +€94,000 | +58.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €55,823 | €87,238 | +€31,415 | +56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,455 | €129,245 | +€1,789 | +1.4% |
| Other operating charges | 640/8 | €36,175 | €37,548 | +€1,372 | +3.8% |
| Gross operating margin | 9900 | €307,424 | €394,049 | +€86,625 | +28.2% |
| Operating profit (loss) | 9901 | €143,793 | €227,257 | +€83,464 | +58.0% |
| Financial income | 75/76B | €93 | €53 | -€40 | -43.1% |
| Recurring financial income | 75 | €93 | €53 | -€40 | -43.1% |
| Financial charges | 65/66B | €3,432 | €2,510 | -€922 | -26.9% |
| Recurring financial charges | 65 | €3,432 | €2,510 | -€922 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €140,455 | €224,800 | +€84,346 | +60.1% |
| Income taxes | 67/77 | €35,160 | €56,110 | +€20,950 | +59.6% |
| Profit (loss) for the period | 9904 | €105,295 | €168,691 | +€63,396 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €105,295 | €168,691 | +€63,396 | +60.2% |
Source: filed annual accounts (NBB), fiscal years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.