SEACORIN: 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.
What changed
SEACORIN
NACE 46.391, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€30,458
2024 · -€1.3m+€1.3m
Equity
-€1.0m
2024 · -€1.1m+€30,458
Cash
€228,945
2024 · €611,081-€382,136
Balance sheet total
€16.4m
2024 · €13.6m+€2.7m
Largest movements
Assets
- Stocks and contracts +€3.3m
up €3.3m (+36.4%), from €9.2m to €12.5m
- Cash -€382,136
down €382,136 (-62.5%), from €611,081 to €228,945
mainly Stocks and contracts (-€3.3m) and Short-term financial debts (-€729,793)
Equity and liabilities
- Trade debts +€2.4m
up €2.4m (+29.2%), from €8.1m to €10.5m
- Current portion of long-term debt +€1.0m
new in 2025: €1.0m
- Short-term financial debts -€729,793
down €729,793 (-16.3%), from €4.5m to €3.8m
Income statement
- Turnover +€2.3m
up €2.3m (+11.2%), from €20.7m to €23.0m
- Goods and materials +€1.4m
up €1.4m (+7.6%), from €19.0m to €20.5m
of which Purchases: +€6.1m
- Financial income +€644,313
up €644,313 (+222%), from €290,054 to €934,367
- Financial charges +€287,867
up €287,867 (+34.4%), from €837,217 to €1.1m
- Services and other goods +€251,998
up €251,998 (+13.5%), from €1.9m to €2.1m
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.
Result 2024
-€1.3m
Turnover
+€2.3m
Other operating income
+€156,314
Goods and materials
-€1.4m
Services and other goods
-€251,998
Staff costs
+€96,207
Depreciation
+€14,916
Write-downs
+€65,833
Other operating charges
+€2,141
Other operating items
+€25,569
Financial income
+€644,313
Financial charges
-€287,867
Taxes
-€1,946
Result 2025
€30,458
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€642,614
Investment
-€9,729
Financing
+€270,207
Cash 2024
€611,081
From operations (derived)
-€642,614
Net result for the year
+€30,458
Depreciation
+€19,896
Stocks and contracts
-€3.3m
Receivables within one year
+€156,609
Deferred charges and accrued income
+€62,901
Trade debts
+€2.4m
Tax, wage and social debts
+€4,368
Accrued charges and deferred income
+€59,441
Investment (derived)
-€9,729
Investment in fixed assets (net)
-€9,729
Financing
+€270,207
Current portion of long-term debt
+€1.0m
Short-term financial debts
-€729,793
Cash 2025
€228,945
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,617,134 | €16,351,086 | +€2.7m | +20.1% |
| Fixed assets | 21/28 | €61,161 | €50,994 | -€10,167 | -16.6% |
| Intangible fixed assets | 21 | €2,545 | €6,312 | +€3,767 | +148% |
| Tangible fixed assets | 22/27 | €52,594 | €38,660 | -€13,934 | -26.5% |
| Plant, machinery and equipment | 23 | €444 | €242 | -€202 | -45.5% |
| Furniture and vehicles | 24 | €52,150 | €38,418 | -€13,732 | -26.3% |
| Financial fixed assets | 28 | €6,022 | €6,022 | = | 0.0% |
| Other financial fixed assets | 284/8 | €6,022 | €6,022 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €6,022 | €6,022 | = | 0.0% |
| Current assets | 29/58 | €13,555,973 | €16,300,092 | +€2.7m | +20.2% |
| Stocks and contracts in progress | 3 | €9,185,267 | €12,531,032 | +€3.3m | +36.4% |
| Stocks | 30/36 | €9,185,267 | €12,531,032 | +€3.3m | +36.4% |
| Goods purchased for resale | 34 | €9,185,267 | €12,531,032 | +€3.3m | +36.4% |
| Amounts receivable within one year | 40/41 | €3,680,601 | €3,523,992 | -€156,609 | -4.3% |
| Trade receivables | 40 | €3,430,581 | €3,015,247 | -€415,334 | -12.1% |
| Other amounts receivable | 41 | €250,020 | €508,745 | +€258,725 | +103% |
| Cash at bank and in hand | 54/58 | €611,081 | €228,945 | -€382,136 | -62.5% |
| Deferred charges and accrued income | 490/1 | €79,024 | €16,123 | -€62,901 | -79.6% |
| Total equity and liabilities | 10/49 | €13,617,134 | €16,351,086 | +€2.7m | +20.1% |
| Equity | 10/15 | -€1,065,490 | -€1,035,032 | +€30,458 | +2.9% |
| Contributions | 10/11 | €3,400,000 | €3,400,000 | = | 0.0% |
| Capital | 10 | €3,400,000 | €3,400,000 | = | 0.0% |
| Issued capital | 100 | €3,400,000 | €3,400,000 | = | 0.0% |
| Reserves | 13 | €2,029 | €2,029 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,029 | €2,029 | = | 0.0% |
| Legal reserve | 130 | €2,029 | €2,029 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,467,519 | -€4,437,061 | +€30,458 | +0.7% |
| Amounts payable | 17/49 | €14,682,624 | €17,386,118 | +€2.7m | +18.4% |
| Amounts payable after more than one year | 17 | €1,900,000 | €1,900,000 | = | 0.0% |
| Financial debts | 170/4 | €1,900,000 | €1,900,000 | = | 0.0% |
| Other loans | 174 | €1,900,000 | €1,900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €12,619,457 | €15,263,510 | +€2.6m | +21.0% |
| Current portion of amounts payable after more than one year | 42 | - | €1,000,000 | +€1.0m | |
| Financial debts | 43 | €4,480,217 | €3,750,424 | -€729,793 | -16.3% |
| Credit institutions | 430/8 | €4,480,217 | €3,750,424 | -€729,793 | -16.3% |
| Trade debts | 44 | €8,116,161 | €10,485,639 | +€2.4m | +29.2% |
| Suppliers | 440/4 | €8,116,161 | €10,485,639 | +€2.4m | +29.2% |
| Taxes, remuneration and social security | 45 | €23,079 | €27,447 | +€4,368 | +18.9% |
| Remuneration and social security | 454/9 | €23,079 | €27,447 | +€4,368 | +18.9% |
| Accrued charges and deferred income | 492/3 | €163,167 | €222,608 | +€59,441 | +36.4% |
| Operating income | 70/76A | €20,678,053 | €23,164,093 | +€2.5m | +12.0% |
| Turnover | 70 | €20,655,342 | €22,959,499 | +€2.3m | +11.2% |
| Own construction capitalised | 72 | €8,271 | €33,840 | +€25,569 | +309% |
| Other operating income | 74 | €14,440 | €170,754 | +€156,314 | +1,083% |
| Operating charges | 60/66A | €21,422,302 | €22,940,972 | +€1.5m | +7.1% |
| Goods for resale, raw materials and consumables | 60 | €19,046,345 | €20,492,114 | +€1.4m | +7.6% |
| Purchases | 600/8 | €17,545,641 | €23,672,469 | +€6.1m | +34.9% |
| Change in stocks: decrease (increase) | 609 | €1,500,704 | -€3,180,355 | -€4.7m | |
| Services and other goods | 61 | €1,865,187 | €2,117,185 | +€251,998 | +13.5% |
| Remuneration, social security and pensions | 62 | €419,954 | €323,747 | -€96,207 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,812 | €19,896 | -€14,916 | -42.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,857 | -€23,976 | -€65,833 | |
| Other operating charges | 640/8 | €14,147 | €12,006 | -€2,141 | -15.1% |
| Operating profit (loss) | 9901 | -€744,249 | €223,121 | +€967,370 | |
| Financial income | 75/76B | €290,054 | €934,367 | +€644,313 | +222% |
| Recurring financial income | 75 | €290,054 | €934,367 | +€644,313 | +222% |
| Income from financial fixed assets | 750 | €31 | - | -€31 | |
| Other financial income | 752/9 | €290,023 | €934,367 | +€644,344 | +222% |
| Financial charges | 65/66B | €837,217 | €1,125,084 | +€287,867 | +34.4% |
| Recurring financial charges | 65 | €837,217 | €1,125,084 | +€287,867 | +34.4% |
| Debt charges | 650 | €566,416 | €431,979 | -€134,437 | -23.7% |
| Other financial charges | 652/9 | €270,801 | €693,105 | +€422,304 | +156% |
| Profit (loss) for the period before taxes | 9903 | -€1,291,412 | €32,404 | +€1.3m | |
| Income taxes | 67/77 | - | €1,946 | +€1,946 | |
| Taxes | 670/3 | - | €1,946 | +€1,946 | |
| Profit (loss) for the period | 9904 | -€1,291,412 | €30,458 | +€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,291,412 | €30,458 | +€1.3m |
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 28 October 2026 via checked.be.