Seagull I: 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 I
NACE 35.150, Electricity, gas, steam and air conditioning supply
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€303,602
2024 · €259,895+€43,708
Equity
€2.2m
2024 · €2.2m+€2,911
Cash
€504,644
2024 · €169,028+€335,616
Balance sheet total
€8.0m
2024 · €8.4m-€440,860
Largest movements
Assets
- Tangible fixed assets -€456,966
down €456,966 (-6.8%), from €6.7m to €6.2m
- Cash +€335,616
up €335,616 (+199%), from €169,028 to €504,644
mainly Depreciation (+€456,966) and Net result for the year (+€303,602)
- Receivables within one year -€277,374
down €277,374 (-18.9%), from €1.5m to €1.2m
of which Other amounts receivable: -€354,363
Equity and liabilities
- Debts after one year -€482,507
down €482,507 (-9.5%), from €5.1m to €4.6m
Income statement
- Other operating income +€323,693
up €323,693 (+1,349%), from €24,002 to €347,696
- Turnover -€191,469
down €191,469 (-13.9%), from €1.4m to €1.2m
- Financial income -€55,996
down €55,996 (-71.3%), from €78,502 to €22,506
- Services and other goods +€27,797
up €27,797 (+6.3%), from €438,134 to €465,931
- Taxes +€21,177
up €21,177 (+25.0%), from €84,875 to €106,052
of which Taxes: +€17,104
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
€259,895
Turnover
-€191,469
Other operating income
+€323,693
Services and other goods
-€27,797
Depreciation
+€0
Other operating charges
-€31
Financial income
-€55,996
Financial charges
+€16,485
Taxes
-€21,177
Result 2025
€303,602
raises the resultlowers the result
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
+€1.1m
Investment
€0
Financing
-€765,409
Cash 2024
€169,028
From operations (derived)
+€1.1m
Net result for the year
+€303,602
Depreciation
+€456,966
Receivables within one year
+€277,374
Deferred charges and accrued income
+€42,135
Provisions
+€16,800
Trade debts
+€29,318
Tax, wage and social debts
-€39,584
Other debts
+€19,653
Accrued charges and deferred income
-€5,240
Financing
-€765,409
Debts after one year
-€482,507
Current portion of long-term debt
+€17,789
Contributions, distributions and other
-€300,691
Cash 2025
€504,644
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,435,299 | €7,994,440 | -€440,860 | -5.2% |
| Fixed assets | 21/28 | €6,702,173 | €6,245,207 | -€456,966 | -6.8% |
| Tangible fixed assets | 22/27 | €6,702,173 | €6,245,207 | -€456,966 | -6.8% |
| Plant, machinery and equipment | 23 | €6,702,173 | €6,245,207 | -€456,966 | -6.8% |
| Current assets | 29/58 | €1,733,126 | €1,749,233 | +€16,107 | +0.9% |
| Amounts receivable within one year | 40/41 | €1,469,618 | €1,192,244 | -€277,374 | -18.9% |
| Trade receivables | 40 | €417,005 | €493,994 | +€76,989 | +18.5% |
| Other amounts receivable | 41 | €1,052,613 | €698,250 | -€354,363 | -33.7% |
| Cash at bank and in hand | 54/58 | €169,028 | €504,644 | +€335,616 | +199% |
| Deferred charges and accrued income | 490/1 | €94,481 | €52,346 | -€42,135 | -44.6% |
| Total equity and liabilities | 10/49 | €8,435,299 | €7,994,440 | -€440,860 | -5.2% |
| Equity | 10/15 | €2,207,206 | €2,210,118 | +€2,911 | +0.1% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €200,000 | €200,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,206 | €10,118 | +€2,911 | +40.4% |
| Provisions and deferred taxes | 16 | €88,200 | €105,000 | +€16,800 | +19.0% |
| Provisions for liabilities and charges | 160/5 | €88,200 | €105,000 | +€16,800 | +19.0% |
| Other liabilities and charges | 164/5 | €88,200 | €105,000 | +€16,800 | +19.0% |
| Amounts payable | 17/49 | €6,139,893 | €5,679,322 | -€460,571 | -7.5% |
| Amounts payable after more than one year | 17 | €5,069,443 | €4,586,935 | -€482,507 | -9.5% |
| Financial debts | 170/4 | €5,069,443 | €4,586,935 | -€482,507 | -9.5% |
| Other loans | 174 | €5,069,443 | €4,586,935 | -€482,507 | -9.5% |
| Amounts payable within one year | 42/48 | €1,056,784 | €1,083,960 | +€27,176 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €464,719 | €482,507 | +€17,789 | +3.8% |
| Trade debts | 44 | €167,475 | €196,793 | +€29,318 | +17.5% |
| Suppliers | 440/4 | €167,475 | €196,793 | +€29,318 | +17.5% |
| Taxes, remuneration and social security | 45 | €143,553 | €103,969 | -€39,584 | -27.6% |
| Taxes | 450/3 | €143,553 | €103,969 | -€39,584 | -27.6% |
| Other amounts payable | 47/48 | €281,038 | €300,691 | +€19,653 | +7.0% |
| Accrued charges and deferred income | 492/3 | €13,666 | €8,427 | -€5,240 | -38.3% |
| Operating income | 70/76A | €1,401,006 | €1,533,230 | +€132,224 | +9.4% |
| Turnover | 70 | €1,377,004 | €1,185,535 | -€191,469 | -13.9% |
| Other operating income | 74 | €24,002 | €347,696 | +€323,693 | +1,349% |
| Operating charges | 60/66A | €912,993 | €940,821 | +€27,828 | +3.0% |
| Services and other goods | 61 | €438,134 | €465,931 | +€27,797 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €456,966 | €456,966 | -€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €16,800 | €16,800 | = | 0.0% |
| Other operating charges | 640/8 | €1,094 | €1,124 | +€31 | +2.8% |
| Operating profit (loss) | 9901 | €488,013 | €592,409 | +€104,396 | +21.4% |
| Financial income | 75/76B | €78,502 | €22,506 | -€55,996 | -71.3% |
| Recurring financial income | 75 | €78,502 | €22,506 | -€55,996 | -71.3% |
| Income from current assets | 751 | €78,499 | €22,503 | -€55,996 | -71.3% |
| Other financial income | 752/9 | €3 | €3 | +€0 | +0.6% |
| Financial charges | 65/66B | €221,745 | €205,260 | -€16,485 | -7.4% |
| Recurring financial charges | 65 | €221,745 | €205,260 | -€16,485 | -7.4% |
| Debt charges | 650 | €221,337 | €204,698 | -€16,639 | -7.5% |
| Other financial charges | 652/9 | €408 | €562 | +€154 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €344,770 | €409,655 | +€64,885 | +18.8% |
| Income taxes | 67/77 | €84,875 | €106,052 | +€21,177 | +25.0% |
| Taxes | 670/3 | €88,949 | €106,052 | +€17,104 | +19.2% |
| Tax adjustments and reversals of tax provisions | 77 | €4,073 | - | -€4,073 | |
| Profit (loss) for the period | 9904 | €259,895 | €303,602 | +€43,708 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €259,895 | €303,602 | +€43,708 | +16.8% |
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 20 October 2026 via checked.be.