SEA2RISK: 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.
SEA2RISK
Largest movements
- Receivables within one year -€20,804
down €20,804 (-92.2%), from €22,570 to €1,767
of which Trade receivables: -€20,833
- Cash +€17,909
up €17,909 (+21.6%), from €82,747 to €100,657
mainly Net result for the year (+€98,185) and Receivables within one year (+€20,804)
- Tangible fixed assets -€15,022
down €15,022 (-35.5%), from €42,278 to €27,257
of which Furniture and vehicles: -€16,306
- Current investments -€4,000
down €4,000 (-80.0%), from €5,000 to €1,000
- Receivables after one year -€1,767
down €1,767 (-45.3%), from €3,896 to €2,129
- Other debts -€23,431
down €23,431 (-19.0%), from €123,075 to €99,644
- Gross operating margin -€12,304
down €12,304 (-7.9%), from €155,059 to €142,754
- Taxes -€3,044
down €3,044 (-8.7%), from €34,905 to €31,861
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 | €158,018 | €134,249 | -€23,769 | -15.0% |
| Fixed assets | 21/28 | €42,278 | €27,257 | -€15,022 | -35.5% |
| Tangible fixed assets | 22/27 | €42,278 | €27,257 | -€15,022 | -35.5% |
| Plant, machinery and equipment | 23 | €2,197 | €3,481 | +€1,284 | +58.5% |
| Furniture and vehicles | 24 | €40,082 | €23,776 | -€16,306 | -40.7% |
| Current assets | 29/58 | €115,740 | €106,992 | -€8,748 | -7.6% |
| Amounts receivable after more than one year | 29 | €3,896 | €2,129 | -€1,767 | -45.3% |
| Other amounts receivable | 291 | €3,896 | €2,129 | -€1,767 | -45.3% |
| Amounts receivable within one year | 40/41 | €22,570 | €1,767 | -€20,804 | -92.2% |
| Trade receivables | 40 | €20,833 | - | -€20,833 | |
| Other amounts receivable | 41 | €1,737 | €1,767 | +€29 | +1.7% |
| Current investments | 50/53 | €5,000 | €1,000 | -€4,000 | -80.0% |
| Cash at bank and in hand | 54/58 | €82,747 | €100,657 | +€17,909 | +21.6% |
| Deferred charges and accrued income | 490/1 | €1,527 | €1,440 | -€87 | -5.7% |
| Total equity and liabilities | 10/49 | €158,018 | €134,249 | -€23,769 | -15.0% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €139,418 | €115,649 | -€23,769 | -17.0% |
| Amounts payable within one year | 42/48 | €139,418 | €115,370 | -€24,048 | -17.2% |
| Trade debts | 44 | €273 | €316 | +€44 | +16.0% |
| Suppliers | 440/4 | €273 | €316 | +€44 | +16.0% |
| Taxes, remuneration and social security | 45 | €16,071 | €15,410 | -€661 | -4.1% |
| Taxes | 450/3 | €13,303 | €12,770 | -€534 | -4.0% |
| Remuneration and social security | 454/9 | €2,768 | €2,640 | -€127 | -4.6% |
| Other amounts payable | 47/48 | €123,075 | €99,644 | -€23,431 | -19.0% |
| Accrued charges and deferred income | 492/3 | - | €279 | +€279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,914 | €9,519 | +€605 | +6.8% |
| Other operating charges | 640/8 | €1,433 | €2,572 | +€1,139 | +79.5% |
| Non-recurring operating charges | 66A | - | €841 | +€841 | |
| Gross operating margin | 9900 | €155,059 | €142,754 | -€12,304 | -7.9% |
| Operating profit (loss) | 9901 | €144,712 | €129,822 | -€14,890 | -10.3% |
| Financial income | 75/76B | €1,574 | €364 | -€1,210 | -76.9% |
| Recurring financial income | 75 | €1,574 | €364 | -€1,210 | -76.9% |
| Financial charges | 65/66B | €131 | €140 | +€9 | +6.9% |
| Recurring financial charges | 65 | €131 | €140 | +€9 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €146,155 | €130,046 | -€16,109 | -11.0% |
| Income taxes | 67/77 | €34,905 | €31,861 | -€3,044 | -8.7% |
| Profit (loss) for the period | 9904 | €111,250 | €98,185 | -€13,065 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €111,250 | €98,185 | -€13,065 | -11.7% |
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 24 October 2026 via checked.be.