SEAFORCE: what changed
SEAFORCE
Largest movements
- Receivables within one year +€28,489
up €28,489 (+34.3%), from €83,137 to €111,626
of which Other amounts receivable: +€26,850
- Cash +€3,411
up €3,411 (+24.1%), from €14,156 to €17,567
mainly Trade debts (+€23,506) and Tax, wage and social debts (+€6,634)
- Tangible fixed assets -€1,590
down €1,590 (-45.7%), from €3,480 to €1,890
of which Plant, machinery and equipment: -€1,017
- Trade debts +€23,506
up €23,506 (+79.1%), from €29,726 to €53,232
- Tax, wage and social debts +€6,634
up €6,634 (+42.6%), from €15,569 to €22,203
of which Remuneration and social security: +€4,100
- Gross operating margin +€9,094
up €9,094 (+9.0%), from €100,976 to €110,070
- Staff costs +€7,432
up €7,432 (+7.5%), from €99,542 to €106,974
- Financial income -€2,364
no longer reported in 2025 (was €2,364)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,604 | €131,084 | +€29,480 | +29.0% |
| Fixed assets | 21/28 | €3,480 | €1,890 | -€1,590 | -45.7% |
| Tangible fixed assets | 22/27 | €3,480 | €1,890 | -€1,590 | -45.7% |
| Plant, machinery and equipment | 23 | €2,282 | €1,265 | -€1,017 | -44.6% |
| Furniture and vehicles | 24 | €1,198 | €625 | -€573 | -47.8% |
| Current assets | 29/58 | €98,124 | €129,194 | +€31,070 | +31.7% |
| Amounts receivable within one year | 40/41 | €83,137 | €111,626 | +€28,489 | +34.3% |
| Trade receivables | 40 | €1,507 | €3,146 | +€1,639 | +109% |
| Other amounts receivable | 41 | €81,630 | €108,480 | +€26,850 | +32.9% |
| Cash at bank and in hand | 54/58 | €14,156 | €17,567 | +€3,411 | +24.1% |
| Deferred charges and accrued income | 490/1 | €831 | - | -€831 | |
| Total equity and liabilities | 10/49 | €101,604 | €131,084 | +€29,480 | +29.0% |
| Equity | 10/15 | €55,944 | €55,649 | -€295 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,484 | €35,189 | -€295 | -0.8% |
| Amounts payable | 17/49 | €45,660 | €75,435 | +€29,775 | +65.2% |
| Amounts payable within one year | 42/48 | €45,659 | €75,435 | +€29,776 | +65.2% |
| Trade debts | 44 | €29,726 | €53,232 | +€23,506 | +79.1% |
| Suppliers | 440/4 | €29,726 | €53,232 | +€23,506 | +79.1% |
| Taxes, remuneration and social security | 45 | €15,569 | €22,203 | +€6,634 | +42.6% |
| Taxes | 450/3 | €6,695 | €9,229 | +€2,534 | +37.9% |
| Remuneration and social security | 454/9 | €8,874 | €12,974 | +€4,100 | +46.2% |
| Other amounts payable | 47/48 | €364 | - | -€364 | |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | €99,542 | €106,974 | +€7,432 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,588 | €1,589 | +€1 | 0.0% |
| Other operating charges | 640/8 | €499 | €226 | -€273 | -54.6% |
| Gross operating margin | 9900 | €100,976 | €110,070 | +€9,094 | +9.0% |
| Operating profit (loss) | 9901 | -€653 | €1,281 | +€1,934 | |
| Financial income | 75/76B | €2,364 | - | -€2,364 | |
| Recurring financial income | 75 | €2,364 | - | -€2,364 | |
| Financial charges | 65/66B | €328 | €381 | +€53 | +16.2% |
| Recurring financial charges | 65 | €328 | €381 | +€53 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €1,383 | €900 | -€483 | -34.9% |
| Income taxes | 67/77 | €1,263 | €1,195 | -€68 | -5.3% |
| Profit (loss) for the period | 9904 | €120 | -€295 | -€415 | |
| Profit (loss) for the period to be appropriated | 9905 | €120 | -€295 | -€415 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.