SEA NV: 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 NV
Largest movements
- Stocks and contracts +€29,328
up €29,328 (+4.3%), from €685,983 to €715,311
- Receivables within one year +€14,249
up €14,249 (+13.8%), from €103,522 to €117,771
- Deferred charges and accrued income +€13,076
up €13,076 (+111%), from €11,728 to €24,804
- Current portion of long-term debt -€151,195
down €151,195 (-37.7%), from €401,195 to €250,000
- Other debts +€124,048
up €124,048 (+173%), from €71,608 to €195,656
- Trade debts +€85,136
up €85,136 (+333%), from €25,549 to €110,685
- Tax, wage and social debts -€13,851
down €13,851 (-24.4%), from €56,875 to €43,025
of which Remuneration and social security: -€11,053
- Staff costs -€76,037
down €76,037 (-34.9%), from €217,905 to €141,867
- Financial charges +€6,702
up €6,702 (+31.6%), from €21,225 to €27,927
- Other operating charges -€4,410
down €4,410 (-35.2%), from €12,529 to €8,119
- Gross operating margin -€3,949
down €3,949 (-2.1%), from €190,028 to €186,080
- Depreciation +€2,687
up €2,687 (+42.0%), from €6,395 to €9,082
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 | €872,819 | €915,046 | +€42,227 | +4.8% |
| Fixed assets | 21/28 | €39,958 | €30,492 | -€9,466 | -23.7% |
| Intangible fixed assets | 21 | €8,578 | €6,861 | -€1,717 | -20.0% |
| Tangible fixed assets | 22/27 | €31,340 | €23,591 | -€7,750 | -24.7% |
| Plant, machinery and equipment | 23 | €8,727 | €4,442 | -€4,286 | -49.1% |
| Furniture and vehicles | 24 | €22,613 | €19,149 | -€3,464 | -15.3% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €832,861 | €884,554 | +€51,693 | +6.2% |
| Stocks and contracts in progress | 3 | €685,983 | €715,311 | +€29,328 | +4.3% |
| Stocks | 30/36 | €685,983 | €715,311 | +€29,328 | +4.3% |
| Amounts receivable within one year | 40/41 | €103,522 | €117,771 | +€14,249 | +13.8% |
| Trade receivables | 40 | €103,522 | €117,771 | +€14,249 | +13.8% |
| Cash at bank and in hand | 54/58 | €31,628 | €26,669 | -€4,959 | -15.7% |
| Deferred charges and accrued income | 490/1 | €11,728 | €24,804 | +€13,076 | +111% |
| Total equity and liabilities | 10/49 | €872,819 | €915,046 | +€42,227 | +4.8% |
| Equity | 10/15 | €289,233 | €289,577 | +€344 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,033 | €221,377 | +€344 | +0.2% |
| Amounts payable | 17/49 | €583,587 | €625,470 | +€41,883 | +7.2% |
| Amounts payable within one year | 42/48 | €578,551 | €617,395 | +€38,844 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €401,195 | €250,000 | -€151,195 | -37.7% |
| Financial debts | 43 | €23,325 | €18,030 | -€5,295 | -22.7% |
| Credit institutions | 430/8 | €23,325 | €18,030 | -€5,295 | -22.7% |
| Trade debts | 44 | €25,549 | €110,685 | +€85,136 | +333% |
| Suppliers | 440/4 | €25,549 | €110,685 | +€85,136 | +333% |
| Taxes, remuneration and social security | 45 | €56,875 | €43,025 | -€13,851 | -24.4% |
| Taxes | 450/3 | €18,038 | €15,241 | -€2,797 | -15.5% |
| Remuneration and social security | 454/9 | €38,838 | €27,784 | -€11,053 | -28.5% |
| Other amounts payable | 47/48 | €71,608 | €195,656 | +€124,048 | +173% |
| Accrued charges and deferred income | 492/3 | €5,035 | €8,074 | +€3,039 | +60.3% |
| Remuneration, social security and pensions | 62 | €217,905 | €141,867 | -€76,037 | -34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,395 | €9,082 | +€2,687 | +42.0% |
| Other operating charges | 640/8 | €12,529 | €8,119 | -€4,410 | -35.2% |
| Gross operating margin | 9900 | €190,028 | €186,080 | -€3,949 | -2.1% |
| Operating profit (loss) | 9901 | -€46,800 | €27,011 | +€73,811 | |
| Financial income | 75/76B | €553 | €1,301 | +€748 | +135% |
| Recurring financial income | 75 | €553 | €1,301 | +€748 | +135% |
| Financial charges | 65/66B | €21,225 | €27,927 | +€6,702 | +31.6% |
| Recurring financial charges | 65 | €21,225 | €27,927 | +€6,702 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | -€67,473 | €384 | +€67,857 | |
| Income taxes | 67/77 | €1,590 | €40 | -€1,550 | -97.5% |
| Profit (loss) for the period | 9904 | -€69,063 | €344 | +€69,407 | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,063 | €344 | +€69,407 |
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 14 October 2026 via checked.be.