SEACOOP: 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.
SEACOOP
Largest movements
- Financial fixed assets +€20.5m
up €20.5m (+3414116.3%), from €600 to €20.5m
- Current investments -€4.5m
down €4.5m (-100.0%), from €4.5m to €0
- Cash -€1.2m
down €1.2m (-26.5%), from €4.7m to €3.4m
mainly Investment in fixed assets (net) (-€20.5m) and Net result for the year (-€1.5m)
- Receivables within one year +€1.1m
up €1.1m (+723.6%), from €155,648 to €1.3m
of which Other amounts receivable: +€938,398
- Contributions +€9.8m
up €9.8m (+105.0%), from €9.4m to €19.2m
- Short-term financial debts +€7.5m
new in 2025: €7.5m
- Profit (loss) carried forward -€1.5m
down €1.5m (-92.9%), from -€1.6m to -€3.0m
- Other debts -€272,000
down €272,000 (-100.0%), from €272,000 to €0
- Financial charges +€562,475
up €562,475 (+121183.8%), from €464 to €562,939
- Financial income +€336,284
up €336,284 (+2552.9%), from €13,173 to €349,457
- Staff costs +€222,142
up €222,142 (+142.7%), from €155,655 to €377,797
- Gross operating margin +€113,445
up €113,445 (+11.8%), from -€964,697 to -€851,252
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 | €9,387,799 | €25,320,147 | +€15.9m | +169.7% |
| Fixed assets | 21/28 | €32,597 | €20,509,858 | +€20.5m | +62819.6% |
| Intangible fixed assets | 21 | €500 | €21,017 | +€20,517 | +4100.7% |
| Tangible fixed assets | 22/27 | €31,497 | €3,543 | -€27,953 | -88.7% |
| Plant, machinery and equipment | 23 | €3,919 | €3,543 | -€375 | -9.6% |
| Assets under construction and advance payments | 27 | €27,578 | €0 | -€27,578 | -100.0% |
| Financial fixed assets | 28 | €600 | €20,485,298 | +€20.5m | +3414116.3% |
| Current assets | 29/58 | €9,355,202 | €4,810,289 | -€4.5m | -48.6% |
| Amounts receivable within one year | 40/41 | €155,648 | €1,281,958 | +€1.1m | +723.6% |
| Trade receivables | 40 | €61,565 | €249,478 | +€187,913 | +305.2% |
| Other amounts receivable | 41 | €94,083 | €1,032,481 | +€938,398 | +997.4% |
| Current investments | 50/53 | €4,500,000 | €0 | -€4.5m | -100.0% |
| Cash at bank and in hand | 54/58 | €4,694,517 | €3,448,309 | -€1.2m | -26.5% |
| Deferred charges and accrued income | 490/1 | €5,037 | €80,022 | +€74,985 | +1488.7% |
| Total equity and liabilities | 10/49 | €9,387,799 | €25,320,147 | +€15.9m | +169.7% |
| Equity | 10/15 | €7,800,164 | €16,181,473 | +€8.4m | +107.5% |
| Contributions | 10/11 | €9,365,000 | €19,200,000 | +€9.8m | +105.0% |
| Profit (loss) carried forward | 14 | -€1,564,836 | -€3,018,527 | -€1.5m | -92.9% |
| Amounts payable | 17/49 | €1,587,635 | €9,138,674 | +€7.6m | +475.6% |
| Amounts payable after more than one year | 17 | €854,000 | €1,058,000 | +€204,000 | +23.9% |
| Financial debts | 170/4 | - | €1,058,000 | +€1.1m | |
| Other amounts payable | 178/9 | €854,000 | €0 | -€854,000 | -100.0% |
| Amounts payable within one year | 42/48 | €732,979 | €8,063,975 | +€7.3m | +1000.2% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €272,000 | +€72,000 | +36.0% |
| Financial debts | 43 | - | €7,500,000 | +€7.5m | |
| Credit institutions | 430/8 | - | €7,500,000 | +€7.5m | |
| Trade debts | 44 | €221,082 | €221,407 | +€325 | +0.1% |
| Suppliers | 440/4 | €221,082 | €221,407 | +€325 | +0.1% |
| Taxes, remuneration and social security | 45 | €39,897 | €70,568 | +€30,671 | +76.9% |
| Taxes | 450/3 | €6,366 | €9,117 | +€2,751 | +43.2% |
| Remuneration and social security | 454/9 | €33,531 | €61,451 | +€27,921 | +83.3% |
| Other amounts payable | 47/48 | €272,000 | €0 | -€272,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €656 | €16,699 | +€16,043 | +2446.1% |
| Remuneration, social security and pensions | 62 | €155,655 | €377,797 | +€222,142 | +142.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,709 | €10,595 | +€8,886 | +520.0% |
| Other operating charges | 640/8 | €1,255 | €565 | -€690 | -55.0% |
| Gross operating margin | 9900 | -€964,697 | -€851,252 | +€113,445 | +11.8% |
| Operating profit (loss) | 9901 | -€1,123,316 | -€1,240,210 | -€116,894 | -10.4% |
| Financial income | 75/76B | €13,173 | €349,457 | +€336,284 | +2552.9% |
| Recurring financial income | 75 | €13,173 | €349,457 | +€336,284 | +2552.9% |
| Financial charges | 65/66B | €464 | €562,939 | +€562,475 | +121183.8% |
| Recurring financial charges | 65 | €464 | €562,939 | +€562,475 | +121183.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,110,607 | -€1,453,691 | -€343,084 | -30.9% |
| Income taxes | 67/77 | €3,952 | €0 | -€3,952 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,114,559 | -€1,453,691 | -€339,132 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,114,559 | -€1,453,691 | -€339,132 | -30.4% |
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 9 October 2026 via checked.be.