SEAL-IT: 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.
SEAL-IT
Largest movements
- Tangible fixed assets +€173,039
up €173,039 (+51.1%), from €338,341 to €511,380
of which Land and buildings: +€173,471
- Cash -€106,887
down €106,887 (-93.0%), from €114,889 to €8,002
mainly Investment in fixed assets (net) (-€206,618) and Other debts (-€3,717)
- Reserves +€53,554
up €53,554 (+13.5%), from €397,206 to €450,760
- Debts after one year +€12,000
new in 2025: €12,000
- Depreciation -€10,519
down €10,519 (-23.9%), from €44,098 to €33,579
- Gross operating margin -€9,742
down €9,742 (-8.2%), from €118,151 to €108,409
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €455,133 | €520,203 | +€65,070 | +14.3% |
| Fixed assets | 21/28 | €338,341 | €511,380 | +€173,039 | +51.1% |
| Tangible fixed assets | 22/27 | €338,341 | €511,380 | +€173,039 | +51.1% |
| Land and buildings | 22 | €334,996 | €508,467 | +€173,471 | +51.8% |
| Plant, machinery and equipment | 23 | €1,213 | €1,681 | +€468 | +38.6% |
| Furniture and vehicles | 24 | €521 | €406 | -€115 | -22.1% |
| Other tangible fixed assets | 26 | €1,611 | €826 | -€785 | -48.7% |
| Current assets | 29/58 | €116,792 | €8,823 | -€107,969 | -92.4% |
| Amounts receivable within one year | 40/41 | €1,903 | €821 | -€1,082 | -56.9% |
| Trade receivables | 40 | - | €821 | +€821 | |
| Other amounts receivable | 41 | €1,903 | - | -€1,903 | |
| Cash at bank and in hand | 54/58 | €114,889 | €8,002 | -€106,887 | -93.0% |
| Total equity and liabilities | 10/49 | €455,133 | €520,203 | +€65,070 | +14.3% |
| Equity | 10/15 | €417,611 | €471,165 | +€53,554 | +12.8% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €397,206 | €450,760 | +€53,554 | +13.5% |
| Distributable reserves | 133 | €397,206 | €450,760 | +€53,554 | +13.5% |
| Amounts payable | 17/49 | €37,522 | €49,038 | +€11,516 | +30.7% |
| Amounts payable after more than one year | 17 | - | €12,000 | +€12,000 | |
| Other amounts payable | 178/9 | - | €12,000 | +€12,000 | |
| Amounts payable within one year | 42/48 | €37,402 | €37,038 | -€364 | -1.0% |
| Taxes, remuneration and social security | 45 | €7,365 | €10,718 | +€3,353 | +45.5% |
| Taxes | 450/3 | €7,365 | €10,718 | +€3,353 | +45.5% |
| Other amounts payable | 47/48 | €30,037 | €26,320 | -€3,717 | -12.4% |
| Accrued charges and deferred income | 492/3 | €120 | - | -€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,098 | €33,579 | -€10,519 | -23.9% |
| Other operating charges | 640/8 | €1,884 | €1,983 | +€99 | +5.3% |
| Gross operating margin | 9900 | €118,151 | €108,409 | -€9,742 | -8.2% |
| Operating profit (loss) | 9901 | €72,169 | €72,847 | +€678 | +0.9% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +2.6% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €72,130 | €72,807 | +€677 | +0.9% |
| Income taxes | 67/77 | €18,097 | €19,253 | +€1,156 | +6.4% |
| Profit (loss) for the period | 9904 | €54,033 | €53,554 | -€479 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,033 | €53,554 | -€479 | -0.9% |
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 15 October 2026 via checked.be.