SEA SPEED: 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 SPEED
Largest movements
- Stocks and contracts -€10,846
down €10,846 (-10.8%), from €100,534 to €89,688
- Tangible fixed assets -€4,204
down €4,204 (-45.6%), from €9,225 to €5,021
of which Furniture and vehicles: -€2,977
- Short-term financial debts +€19,035
up €19,035 (+15.7%), from €121,410 to €140,445
- Accrued charges and deferred income -€14,995
down €14,995 (-100%), from €14,995 to €0
- Other debts -€10,169
down €10,169 (-53.1%), from €19,133 to €8,964
- Profit (loss) carried forward -€8,313
down €8,313 (-14.1%), from -€59,110 to -€67,423
- Trade debts +€5,051
up €5,051 (+49.1%), from €10,291 to €15,343
- Gross operating margin +€10,997
up €10,997 (+414%), from €2,657 to €13,654
- Write-downs +€3,988
up €3,988, from €0 to €3,988
- Financial charges +€1,299
up €1,299 (+10.6%), from €12,272 to €13,570
- Depreciation -€638
down €638 (-10.6%), from €5,991 to €5,353
- Financial income +€558
up €558 (+60.9%), from €916 to €1,474
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 | €177,823 | €164,256 | -€13,567 | -7.6% |
| Fixed assets | 21/28 | €10,736 | €6,533 | -€4,204 | -39.2% |
| Tangible fixed assets | 22/27 | €9,225 | €5,021 | -€4,204 | -45.6% |
| Plant, machinery and equipment | 23 | €3,083 | €2,211 | -€872 | -28.3% |
| Furniture and vehicles | 24 | €5,234 | €2,257 | -€2,977 | -56.9% |
| Other tangible fixed assets | 26 | €908 | €553 | -€354 | -39.0% |
| Financial fixed assets | 28 | €1,512 | €1,512 | = | 0.0% |
| Current assets | 29/58 | €167,086 | €157,723 | -€9,363 | -5.6% |
| Stocks and contracts in progress | 3 | €100,534 | €89,688 | -€10,846 | -10.8% |
| Stocks | 30/36 | €100,534 | €89,688 | -€10,846 | -10.8% |
| Amounts receivable within one year | 40/41 | €61,868 | €61,388 | -€480 | -0.8% |
| Trade receivables | 40 | €54,133 | €57,347 | +€3,214 | +5.9% |
| Other amounts receivable | 41 | €7,735 | €4,041 | -€3,695 | -47.8% |
| Cash at bank and in hand | 54/58 | €1,334 | €2,802 | +€1,469 | +110% |
| Deferred charges and accrued income | 490/1 | €3,351 | €3,845 | +€495 | +14.8% |
| Total equity and liabilities | 10/49 | €177,823 | €164,256 | -€13,567 | -7.6% |
| Equity | 10/15 | €7,813 | -€500 | -€8,313 | |
| 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 | €4,923 | €4,923 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,432 | €3,432 | = | 0.0% |
| Legal reserve | 130 | €3,432 | €3,432 | = | 0.0% |
| Distributable reserves | 133 | €1,491 | €1,491 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,110 | -€67,423 | -€8,313 | -14.1% |
| Amounts payable | 17/49 | €170,010 | €164,756 | -€5,254 | -3.1% |
| Amounts payable within one year | 42/48 | €155,015 | €164,756 | +€9,741 | +6.3% |
| Financial debts | 43 | €121,410 | €140,445 | +€19,035 | +15.7% |
| Credit institutions | 430/8 | €121,410 | €140,445 | +€19,035 | +15.7% |
| Trade debts | 44 | €10,291 | €15,343 | +€5,051 | +49.1% |
| Suppliers | 440/4 | €10,291 | €15,343 | +€5,051 | +49.1% |
| Taxes, remuneration and social security | 45 | €4,180 | €4 | -€4,177 | -99.9% |
| Taxes | 450/3 | €4,180 | €4 | -€4,177 | -99.9% |
| Other amounts payable | 47/48 | €19,133 | €8,964 | -€10,169 | -53.1% |
| Accrued charges and deferred income | 492/3 | €14,995 | €0 | -€14,995 | -100% |
| Non-recurring operating income | 76A | €0 | €107 | +€107 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,991 | €5,353 | -€638 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €3,988 | +€3,988 | |
| Other operating charges | 640/8 | €514 | €529 | +€15 | +2.9% |
| Non-recurring operating charges | 66A | €1,006 | €0 | -€1,006 | -100% |
| Gross operating margin | 9900 | €2,657 | €13,654 | +€10,997 | +414% |
| Operating profit (loss) | 9901 | -€4,854 | €3,784 | +€8,637 | |
| Financial income | 75/76B | €916 | €1,474 | +€558 | +60.9% |
| Recurring financial income | 75 | €916 | €1,474 | +€558 | +60.9% |
| Financial charges | 65/66B | €12,272 | €13,570 | +€1,299 | +10.6% |
| Recurring financial charges | 65 | €12,272 | €13,570 | +€1,299 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,209 | -€8,313 | +€7,897 | +48.7% |
| Profit (loss) for the period | 9904 | -€16,209 | -€8,313 | +€7,897 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,209 | -€8,313 | +€7,897 | +48.7% |
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 31 October 2026 via checked.be.