Seagull Decor: 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
Seagull Decor
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€111,299
2024 · €56,273+€55,026
Equity
€16.4m
2024 · €16.3m+€113,818
Cash
€352,635
2024 · €504,482-€151,847
Balance sheet total
€21.6m
2024 · €20.6m+€1.0m
Largest movements
Assets
- Receivables after one year +€1.8m
up €1.8m (+34.4%), from €5.2m to €7.0m
- Tangible fixed assets -€422,689
down €422,689 (-3.0%), from €14.0m to €13.6m
of which Leasing and similar rights: -€382,486
- Receivables within one year -€227,124
down €227,124 (-28.7%), from €792,185 to €565,061
of which Trade receivables: -€256,450
Equity and liabilities
- Debts after one year +€831,998
up €831,998 (+41.8%), from €2.0m to €2.8m
of which Other amounts payable: +€1.2m
Income statement
- Other operating charges -€434,238
down €434,238 (-44.6%), from €973,581 to €539,342
- Gross operating margin -€258,326
down €258,326 (-14.5%), from €1.8m to €1.5m
- Financial charges +€76,726
up €76,726 (+127.8%), from €60,045 to €136,771
- Depreciation +€48,986
up €48,986 (+6.9%), from €707,389 to €756,374
- Taxes -€19,531
down €19,531 (-38.9%), from €50,271 to €30,740
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
€56,273
Gross operating margin
-€258,326
Depreciation
-€48,986
Other operating charges
+€434,238
Financial income
+€12,449
Financial charges
-€76,726
Taxes
+€19,531
Deferred taxes and other
-€27,155
Result 2025
€111,299
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.
From operations
-€642,698
Investment
-€333,685
Financing
+€824,536
Cash 2024
€504,482
From operations (derived)
-€642,698
Net result for the year
+€111,299
Depreciation
+€756,374
Receivables after one year
-€1.8m
Receivables within one year
+€227,124
Deferred charges and accrued income
-€12,477
Provisions
+€3,390
Trade debts
+€53,763
Tax, wage and social debts
-€57,956
Accrued charges and deferred income
+€74,326
Investment (derived)
-€333,685
Investment in fixed assets (net)
-€333,685
Financing
+€824,536
Debts after one year
+€831,998
Current portion of long-term debt
-€9,980
Contributions, distributions and other
+€2,518
Cash 2025
€352,635
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,569,428 | €21,578,786 | +€1.0m | +4.9% |
| Fixed assets | 21/28 | €14,048,412 | €13,625,723 | -€422,689 | -3.0% |
| Tangible fixed assets | 22/27 | €14,048,412 | €13,625,723 | -€422,689 | -3.0% |
| Land and buildings | 22 | €4,470,771 | €4,355,655 | -€115,117 | -2.6% |
| Plant, machinery and equipment | 23 | €178,336 | €213,253 | +€34,917 | +19.6% |
| Leasing and similar rights | 25 | €6,684,740 | €6,302,255 | -€382,486 | -5.7% |
| Other tangible fixed assets | 26 | €2,714,565 | €2,754,561 | +€39,996 | +1.5% |
| Current assets | 29/58 | €6,521,015 | €7,953,063 | +€1.4m | +22.0% |
| Amounts receivable after more than one year | 29 | €5,221,563 | €7,020,105 | +€1.8m | +34.4% |
| Other amounts receivable | 291 | €5,221,563 | €7,020,105 | +€1.8m | +34.4% |
| Amounts receivable within one year | 40/41 | €792,185 | €565,061 | -€227,124 | -28.7% |
| Trade receivables | 40 | €729,364 | €472,913 | -€256,450 | -35.2% |
| Other amounts receivable | 41 | €62,822 | €92,148 | +€29,326 | +46.7% |
| Cash at bank and in hand | 54/58 | €504,482 | €352,635 | -€151,847 | -30.1% |
| Deferred charges and accrued income | 490/1 | €2,785 | €15,262 | +€12,477 | +448.0% |
| Total equity and liabilities | 10/49 | €20,569,428 | €21,578,786 | +€1.0m | +4.9% |
| Equity | 10/15 | €16,290,699 | €16,404,516 | +€113,818 | +0.7% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €15,918,858 | €16,032,676 | +€113,818 | +0.7% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €755,951 | €784,786 | +€28,835 | +3.8% |
| Distributable reserves | 133 | €15,125,724 | €15,210,706 | +€84,982 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €392,781 | €396,171 | +€3,390 | +0.9% |
| Deferred taxes | 168 | €392,781 | €396,171 | +€3,390 | +0.9% |
| Amounts payable | 17/49 | €3,885,948 | €4,778,099 | +€892,151 | +23.0% |
| Amounts payable after more than one year | 17 | €1,988,583 | €2,820,581 | +€831,998 | +41.8% |
| Financial debts | 170/4 | €1,919,199 | €1,507,427 | -€411,772 | -21.5% |
| Other amounts payable | 178/9 | €69,384 | €1,313,155 | +€1.2m | +1792.6% |
| Amounts payable within one year | 42/48 | €1,451,918 | €1,437,745 | -€14,173 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €421,753 | €411,772 | -€9,980 | -2.4% |
| Trade debts | 44 | €972,209 | €1,025,973 | +€53,763 | +5.5% |
| Suppliers | 440/4 | €972,209 | €1,025,973 | +€53,763 | +5.5% |
| Taxes, remuneration and social security | 45 | €57,956 | €0 | -€57,956 | -100.0% |
| Taxes | 450/3 | €57,956 | €0 | -€57,956 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €445,447 | €519,773 | +€74,326 | +16.7% |
| Non-recurring operating income | 76A | €237,214 | €209,172 | -€28,042 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €707,389 | €756,374 | +€48,986 | +6.9% |
| Other operating charges | 640/8 | €973,581 | €539,342 | -€434,238 | -44.6% |
| Gross operating margin | 9900 | €1,781,151 | €1,522,825 | -€258,326 | -14.5% |
| Operating profit (loss) | 9901 | €100,182 | €227,108 | +€126,927 | +126.7% |
| Financial income | 75/76B | €45,161 | €57,610 | +€12,449 | +27.6% |
| Recurring financial income | 75 | €45,161 | €57,610 | +€12,449 | +27.6% |
| Financial charges | 65/66B | €60,045 | €136,771 | +€76,726 | +127.8% |
| Recurring financial charges | 65 | €60,045 | €136,771 | +€76,726 | +127.8% |
| Profit (loss) for the period before taxes | 9903 | €85,297 | €147,947 | +€62,650 | +73.4% |
| Transfer from deferred taxes | 780 | €21,247 | €21,247 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €27,155 | +€27,155 | |
| Income taxes | 67/77 | €50,271 | €30,740 | -€19,531 | -38.9% |
| Profit (loss) for the period | 9904 | €56,273 | €111,299 | +€55,026 | +97.8% |
| Transfer from tax-exempt reserves | 789 | €55,149 | €55,149 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €81,466 | +€81,466 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,422 | €84,982 | -€26,440 | -23.7% |
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 10 October 2026 via checked.be.