SEA-PLAN: 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.
SEA-PLAN
Largest movements
- Receivables within one year +€21,933
new in 2025: €21,933
- Tangible fixed assets +€13,111
up €13,111 (+2.4%), from €537,759 to €550,870
of which Land and buildings: +€15,167
- Profit (loss) carried forward +€65,143
no longer reported in 2025 (was -€65,143)
- Debts after one year -€21,667
down €21,667 (-6.8%), from €316,360 to €294,693
- Other debts -€16,649
down €16,649 (-11.9%), from €140,201 to €123,552
- Tax, wage and social debts +€6,327
up €6,327 (+1825.8%), from €347 to €6,673
- Financial income +€82,954
up €82,954 (+15651690.6%), from €1 to €82,954
of which Non-recurring financial income: +€82,954
- Taxes +€21,387
up €21,387 (+7473.8%), from €286 to €21,673
- Gross operating margin +€1,472
up €1,472 (+2.9%), from €50,860 to €52,332
- Depreciation +€778
up €778 (+2.5%), from €31,276 to €32,054
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 | €564,043 | €600,835 | +€36,792 | +6.5% |
| Fixed assets | 21/28 | €537,759 | €550,870 | +€13,111 | +2.4% |
| Tangible fixed assets | 22/27 | €537,759 | €550,870 | +€13,111 | +2.4% |
| Land and buildings | 22 | €534,318 | €549,485 | +€15,167 | +2.8% |
| Furniture and vehicles | 24 | €3,441 | €1,386 | -€2,056 | -59.7% |
| Current assets | 29/58 | €26,284 | €49,965 | +€23,681 | +90.1% |
| Amounts receivable within one year | 40/41 | - | €21,933 | +€21,933 | |
| Trade receivables | 40 | - | €21,933 | +€21,933 | |
| Cash at bank and in hand | 54/58 | €25,124 | €28,032 | +€2,908 | +11.6% |
| Deferred charges and accrued income | 490/1 | €1,160 | - | -€1,160 | |
| Total equity and liabilities | 10/49 | €564,043 | €600,835 | +€36,792 | +6.5% |
| Equity | 10/15 | €84,857 | €154,031 | +€69,174 | +81.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | - | €4,031 | +€4,031 | |
| Distributable reserves | 133 | - | €4,031 | +€4,031 | |
| Profit (loss) carried forward | 14 | -€65,143 | - | +€65,143 | |
| Amounts payable | 17/49 | €479,187 | €446,804 | -€32,382 | -6.8% |
| Amounts payable after more than one year | 17 | €316,360 | €294,693 | -€21,667 | -6.8% |
| Financial debts | 170/4 | €316,360 | €294,693 | -€21,667 | -6.8% |
| Amounts payable within one year | 42/48 | €162,827 | €152,112 | -€10,715 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €21,152 | €21,667 | +€515 | +2.4% |
| Trade debts | 44 | €1,128 | €219 | -€908 | -80.6% |
| Suppliers | 440/4 | €1,128 | €219 | -€908 | -80.6% |
| Taxes, remuneration and social security | 45 | €347 | €6,673 | +€6,327 | +1825.8% |
| Taxes | 450/3 | €347 | €6,673 | +€6,327 | +1825.8% |
| Other amounts payable | 47/48 | €140,201 | €123,552 | -€16,649 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,276 | €32,054 | +€778 | +2.5% |
| Other operating charges | 640/8 | €4,917 | €5,064 | +€147 | +3.0% |
| Gross operating margin | 9900 | €50,860 | €52,332 | +€1,472 | +2.9% |
| Operating profit (loss) | 9901 | €14,667 | €15,214 | +€547 | +3.7% |
| Financial income | 75/76B | €1 | €82,954 | +€82,954 | +15651690.6% |
| Recurring financial income | 75 | €1 | €82,954 | +€82,954 | +15651690.6% |
| Non-recurring financial income | 76B | - | €82,954 | +€82,954 | |
| Financial charges | 65/66B | €7,764 | €7,321 | -€443 | -5.7% |
| Recurring financial charges | 65 | €7,764 | €7,321 | -€443 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €6,904 | €90,847 | +€83,944 | +1215.9% |
| Income taxes | 67/77 | €286 | €21,673 | +€21,387 | +7473.8% |
| Profit (loss) for the period | 9904 | €6,617 | €69,174 | +€62,557 | +945.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,617 | €69,174 | +€62,557 | +945.3% |
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 8 October 2026 via checked.be.