SEAGULL: what changed
What changed
SEAGULL
NACE 10.200, Manufacture of food products
filed annual accounts (NBB)
Net result for the year
€481,765
2024 · €229,781+€251,985
Equity
€1.1m
2024 · €472,324+€614,098
Cash
€633,803
2024 · €193,332+€440,471
Balance sheet total
€3.7m
2024 · €2.5m+€1.3m
Largest movements
Assets
- Receivables within one year +€499,069
up €499,069 (+42.5%), from €1.2m to €1.7m
of which Trade receivables: +€359,947
- Cash +€440,471
up €440,471 (+228%), from €193,332 to €633,803
mainly Net result for the year (+€481,765) and Trade debts (+€257,938)
- Stocks and contracts +€203,289
up €203,289 (+36.5%), from €557,198 to €760,486
- Tangible fixed assets +€123,447
up €123,447 (+23.9%), from €515,731 to €639,179
of which Plant, machinery and equipment: +€134,074
Equity and liabilities
- Reserves +€481,765
up €481,765 (+217%), from €222,324 to €704,089
of which Distributable reserves: +€481,765
- Trade debts +€257,938
up €257,938 (+46.5%), from €554,512 to €812,450
- Debts after one year +€150,032
up €150,032 (+53.6%), from €279,705 to €429,737
of which Financial debts: +€150,032
- Investment grants +€132,332
new in 2025: €132,332
- Short-term financial debts +€114,881
up €114,881 (+11.0%), from €1.0m to €1.2m
Income statement
- Gross operating margin +€261,668
up €261,668 (+22.6%), from €1.2m to €1.4m
- Financial income +€88,085
up €88,085 (+4,003%), from €2,200 to €90,285
- Taxes +€64,563
up €64,563 (+35,878%), from €180 to €64,743
- Staff costs +€30,013
up €30,013 (+4.1%), from €738,806 to €768,819
- Depreciation +€16,856
up €16,856 (+13.1%), from €128,430 to €145,286
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.
Result 2024
€229,781
Gross operating margin
+€261,668
Staff costs
-€30,013
Depreciation
-€16,856
Write-downs
+€11,058
Other operating charges
-€4,871
Financial income
+€88,085
Financial charges
+€7,476
Taxes
-€64,563
Result 2025
€481,765
raises the resultlowers the result
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.
From operations
+€284,962
Investment
-€268,227
Financing
+€423,736
Cash 2024
€193,332
From operations (derived)
+€284,962
Net result for the year
+€481,765
Depreciation
+€145,286
Stocks and contracts
-€203,289
Receivables within one year
-€499,069
Deferred charges and accrued income
+€9,292
Trade debts
+€257,938
Tax, wage and social debts
+€82,986
Accrued charges and deferred income
+€10,052
Investment (derived)
-€268,227
Investment in fixed assets (net)
-€268,227
Financing
+€423,736
Debts after one year
+€150,032
Current portion of long-term debt
+€26,490
Short-term financial debts
+€114,881
Contributions, distributions and other
+€132,332
Cash 2025
€633,803
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,465,825 | €3,722,302 | +€1.3m | +51.0% |
| Fixed assets | 21/28 | €530,465 | €653,405 | +€122,941 | +23.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €515,731 | €639,179 | +€123,447 | +23.9% |
| Plant, machinery and equipment | 23 | €454,728 | €588,802 | +€134,074 | +29.5% |
| Furniture and vehicles | 24 | €9,470 | €4,660 | -€4,810 | -50.8% |
| Other tangible fixed assets | 26 | €51,533 | €45,716 | -€5,817 | -11.3% |
| Financial fixed assets | 28 | €14,734 | €14,227 | -€507 | -3.4% |
| Current assets | 29/58 | €1,935,360 | €3,068,896 | +€1.1m | +58.6% |
| Stocks and contracts in progress | 3 | €557,198 | €760,486 | +€203,289 | +36.5% |
| Stocks | 30/36 | €557,198 | €760,486 | +€203,289 | +36.5% |
| Amounts receivable within one year | 40/41 | €1,175,206 | €1,674,275 | +€499,069 | +42.5% |
| Trade receivables | 40 | €1,096,798 | €1,456,745 | +€359,947 | +32.8% |
| Other amounts receivable | 41 | €78,408 | €217,530 | +€139,122 | +177% |
| Cash at bank and in hand | 54/58 | €193,332 | €633,803 | +€440,471 | +228% |
| Deferred charges and accrued income | 490/1 | €9,624 | €332 | -€9,292 | -96.6% |
| Total equity and liabilities | 10/49 | €2,465,825 | €3,722,302 | +€1.3m | +51.0% |
| Equity | 10/15 | €472,324 | €1,086,421 | +€614,098 | +130% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €222,324 | €704,089 | +€481,765 | +217% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,575 | €20,575 | = | 0.0% |
| Distributable reserves | 133 | €176,748 | €658,514 | +€481,765 | +273% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | - | €132,332 | +€132,332 | |
| Amounts payable | 17/49 | €1,993,501 | €2,635,881 | +€642,379 | +32.2% |
| Amounts payable after more than one year | 17 | €279,705 | €429,737 | +€150,032 | +53.6% |
| Financial debts | 170/4 | - | €150,032 | +€150,032 | |
| Other amounts payable | 178/9 | €279,705 | €279,705 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,713,111 | €2,195,406 | +€482,295 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €26,490 | +€26,490 | |
| Financial debts | 43 | €1,046,365 | €1,161,247 | +€114,881 | +11.0% |
| Credit institutions | 430/8 | €1,046,365 | €1,161,247 | +€114,881 | +11.0% |
| Trade debts | 44 | €554,512 | €812,450 | +€257,938 | +46.5% |
| Suppliers | 440/4 | €554,512 | €812,450 | +€257,938 | +46.5% |
| Taxes, remuneration and social security | 45 | €112,233 | €195,219 | +€82,986 | +73.9% |
| Taxes | 450/3 | €14,699 | €85,337 | +€70,638 | +481% |
| Remuneration and social security | 454/9 | €97,534 | €109,882 | +€12,349 | +12.7% |
| Accrued charges and deferred income | 492/3 | €686 | €10,737 | +€10,052 | +1,466% |
| Non-recurring operating income | 76A | €30,891 | €0 | -€30,891 | -100% |
| Remuneration, social security and pensions | 62 | €738,806 | €768,819 | +€30,013 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,430 | €145,286 | +€16,856 | +13.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,381 | -€676 | -€11,058 | |
| Other operating charges | 640/8 | €2,324 | €7,195 | +€4,871 | +210% |
| Gross operating margin | 9900 | €1,160,136 | €1,421,804 | +€261,668 | +22.6% |
| Operating profit (loss) | 9901 | €280,194 | €501,180 | +€220,986 | +78.9% |
| Financial income | 75/76B | €2,200 | €90,285 | +€88,085 | +4,003% |
| Recurring financial income | 75 | €2,200 | €90,285 | +€88,085 | +4,003% |
| Financial charges | 65/66B | €52,434 | €44,958 | -€7,476 | -14.3% |
| Recurring financial charges | 65 | €52,434 | €44,958 | -€7,476 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €229,961 | €546,508 | +€316,547 | +138% |
| Income taxes | 67/77 | €180 | €64,743 | +€64,563 | +35,878% |
| Profit (loss) for the period | 9904 | €229,781 | €481,765 | +€251,985 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €229,781 | €481,765 | +€251,985 | +110% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.