SEA LIMITS: 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.
SEA LIMITS
Largest movements
- Cash +€12,558
up €12,558, from €0 to €12,558
mainly Trade debts (+€34,584) and Accrued charges and deferred income (+€3,677)
- Trade debts +€34,584
up €34,584 (+368%), from €9,394 to €43,978
- Reserves -€18,624
down €18,624 (-11.5%), from €161,584 to €142,961
of which Distributable reserves: -€16,764
- Other debts -€4,000
down €4,000 (-52.5%), from €7,616 to €3,616
- Accrued charges and deferred income +€3,677
new in 2025: €3,677
- Other operating charges +€29,418
up €29,418 (+1,909%), from €1,541 to €30,960
- Write-downs +€29,389
new in 2025: €29,389
- Financial charges -€9,084
down €9,084 (-88.0%), from €10,326 to €1,242
- Taxes -€5,471
down €5,471 (-50.2%), from €10,894 to €5,423
- Financial income +€1,359
up €1,359 (+16.0%), from €8,512 to €9,871
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 | €206,103 | €219,953 | +€13,851 | +6.7% |
| Fixed assets | 21/28 | €2,803 | €2,268 | -€535 | -19.1% |
| Tangible fixed assets | 22/27 | €2,803 | €2,268 | -€535 | -19.1% |
| Land and buildings | 22 | €1,166 | €0 | -€1,166 | -100% |
| Plant, machinery and equipment | 23 | €1,371 | €1,335 | -€36 | -2.6% |
| Furniture and vehicles | 24 | €266 | €0 | -€266 | -100% |
| Leasing and similar rights | 25 | - | €933 | +€933 | |
| Current assets | 29/58 | €203,299 | €217,685 | +€14,386 | +7.1% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €162,265 | €161,949 | -€316 | -0.2% |
| Trade receivables | 40 | €40,536 | €16,040 | -€24,496 | -60.4% |
| Other amounts receivable | 41 | €121,729 | €145,909 | +€24,180 | +19.9% |
| Cash at bank and in hand | 54/58 | €0 | €12,558 | +€12,558 | |
| Deferred charges and accrued income | 490/1 | €1,034 | €3,178 | +€2,144 | +207% |
| Total equity and liabilities | 10/49 | €206,103 | €219,953 | +€13,851 | +6.7% |
| Equity | 10/15 | €167,784 | €149,161 | -€18,624 | -11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €161,584 | €142,961 | -€18,624 | -11.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €159,724 | €142,961 | -€16,764 | -10.5% |
| Amounts payable | 17/49 | €38,318 | €70,793 | +€32,474 | +84.7% |
| Amounts payable within one year | 42/48 | €38,318 | €67,116 | +€28,798 | +75.2% |
| Financial debts | 43 | €249 | €0 | -€249 | -100% |
| Credit institutions | 430/8 | €249 | €0 | -€249 | -100% |
| Trade debts | 44 | €9,394 | €43,978 | +€34,584 | +368% |
| Suppliers | 440/4 | €9,394 | €43,978 | +€34,584 | +368% |
| Taxes, remuneration and social security | 45 | €21,058 | €19,522 | -€1,537 | -7.3% |
| Taxes | 450/3 | €21,058 | €17,021 | -€4,038 | -19.2% |
| Remuneration and social security | 454/9 | - | €2,501 | +€2,501 | |
| Other amounts payable | 47/48 | €7,616 | €3,616 | -€4,000 | -52.5% |
| Accrued charges and deferred income | 492/3 | - | €3,677 | +€3,677 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,931 | €1,857 | -€74 | -3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €29,389 | +€29,389 | |
| Other operating charges | 640/8 | €1,541 | €30,960 | +€29,418 | +1,909% |
| Non-recurring operating charges | 66A | €6,247 | €0 | -€6,247 | -100% |
| Gross operating margin | 9900 | €41,459 | €40,375 | -€1,084 | -2.6% |
| Operating profit (loss) | 9901 | €31,740 | -€21,830 | -€53,571 | |
| Financial income | 75/76B | €8,512 | €9,871 | +€1,359 | +16.0% |
| Recurring financial income | 75 | €8,512 | €9,871 | +€1,359 | +16.0% |
| Financial charges | 65/66B | €10,326 | €1,242 | -€9,084 | -88.0% |
| Recurring financial charges | 65 | €10,326 | €1,242 | -€9,084 | -88.0% |
| Profit (loss) for the period before taxes | 9903 | €29,927 | -€13,201 | -€43,128 | |
| Income taxes | 67/77 | €10,894 | €5,423 | -€5,471 | -50.2% |
| Profit (loss) for the period | 9904 | €19,033 | -€18,624 | -€37,657 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,033 | -€18,624 | -€37,657 |
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 17 October 2026 via checked.be.