SEAL-IT-CONSTRUCT: 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-CONSTRUCT
Largest movements
- Cash +€197,070
up €197,070 (+119.3%), from €165,191 to €362,261
- Receivables within one year +€152,047
up €152,047 (+33.1%), from €459,388 to €611,434
of which Trade receivables: +€123,832
- Tangible fixed assets +€95,645
up €95,645 (+53.9%), from €177,484 to €273,129
of which Furniture and vehicles: +€85,515
- Reserves +€214,606
up €214,606 (+285.3%), from €75,217 to €289,823
- Current portion of long-term debt +€156,206
up €156,206 (+181.0%), from €86,321 to €242,527
- Tax, wage and social debts +€35,199
up €35,199 (+95.6%), from €36,818 to €72,017
of which Remuneration and social security: +€24,689
- Debts after one year +€33,508
up €33,508 (+29.1%), from €115,195 to €148,703
- Trade debts +€33,185
up €33,185 (+6.3%), from €530,861 to €564,046
- Gross operating margin +€1.7m
up €1.7m (+359.9%), from €462,404 to €2.1m
- Staff costs +€1.3m
up €1.3m (+532.4%), from €247,040 to €1.6m
- Write-downs +€92,039
new in 2024: €92,039
- Depreciation +€90,980
up €90,980 (+316.7%), from €28,724 to €119,704
- Taxes +€64,367
up €64,367 (+265.2%), from €24,269 to €88,636
From the 2022 result to the 2024 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.
Cash bridge derived
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €874,531 | €1,330,233 | +€455,702 | +52.1% |
| Fixed assets | 21/28 | €180,935 | €281,684 | +€100,749 | +55.7% |
| Intangible fixed assets | 21 | - | €4,754 | +€4,754 | |
| Tangible fixed assets | 22/27 | €177,484 | €273,129 | +€95,645 | +53.9% |
| Plant, machinery and equipment | 23 | €13,644 | €10,591 | -€3,053 | -22.4% |
| Furniture and vehicles | 24 | €158,043 | €243,558 | +€85,515 | +54.1% |
| Other tangible fixed assets | 26 | €5,797 | €18,980 | +€13,183 | +227.4% |
| Financial fixed assets | 28 | €3,451 | €3,801 | +€350 | +10.1% |
| Current assets | 29/58 | €693,596 | €1,048,549 | +€354,953 | +51.2% |
| Amounts receivable after more than one year | 29 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Other amounts receivable | 291 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Amounts receivable within one year | 40/41 | €459,388 | €611,434 | +€152,047 | +33.1% |
| Trade receivables | 40 | €326,179 | €450,011 | +€123,832 | +38.0% |
| Other amounts receivable | 41 | €133,209 | €161,424 | +€28,215 | +21.2% |
| Cash at bank and in hand | 54/58 | €165,191 | €362,261 | +€197,070 | +119.3% |
| Deferred charges and accrued income | 490/1 | €19,017 | €14,854 | -€4,164 | -21.9% |
| Total equity and liabilities | 10/49 | €874,531 | €1,330,233 | +€455,702 | +52.1% |
| Equity | 10/15 | €87,617 | €302,223 | +€214,606 | +244.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,217 | €289,823 | +€214,606 | +285.3% |
| Distributable reserves | 133 | €75,217 | €289,823 | +€214,606 | +285.3% |
| Amounts payable | 17/49 | €786,914 | €1,028,009 | +€241,096 | +30.6% |
| Amounts payable after more than one year | 17 | €115,195 | €148,703 | +€33,508 | +29.1% |
| Financial debts | 170/4 | €115,195 | €148,703 | +€33,508 | +29.1% |
| Amounts payable within one year | 42/48 | €671,224 | €879,306 | +€208,082 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €86,321 | €242,527 | +€156,206 | +181.0% |
| Trade debts | 44 | €530,861 | €564,046 | +€33,185 | +6.3% |
| Suppliers | 440/4 | €530,861 | €564,046 | +€33,185 | +6.3% |
| Taxes, remuneration and social security | 45 | €36,818 | €72,017 | +€35,199 | +95.6% |
| Taxes | 450/3 | €9,206 | €19,716 | +€10,510 | +114.2% |
| Remuneration and social security | 454/9 | €27,611 | €52,300 | +€24,689 | +89.4% |
| Other amounts payable | 47/48 | €17,224 | €716 | -€16,508 | -95.8% |
| Accrued charges and deferred income | 492/3 | €494 | €0 | -€494 | -100.0% |
| Remuneration, social security and pensions | 62 | €247,040 | €1,562,225 | +€1.3m | +532.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,724 | €119,704 | +€90,980 | +316.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €92,039 | +€92,039 | |
| Other operating charges | 640/8 | €80,524 | €19,623 | -€60,901 | -75.6% |
| Gross operating margin | 9900 | €462,404 | €2,126,753 | +€1.7m | +359.9% |
| Operating profit (loss) | 9901 | €106,116 | €333,162 | +€227,046 | +214.0% |
| Financial income | 75/76B | €3,470 | €2,748 | -€722 | -20.8% |
| Recurring financial income | 75 | €3,470 | €2,748 | -€722 | -20.8% |
| Financial charges | 65/66B | €10,355 | €32,668 | +€22,313 | +215.5% |
| Recurring financial charges | 65 | €10,231 | €32,668 | +€22,437 | +219.3% |
| Non-recurring financial charges | 66B | €124 | €0 | -€124 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €99,231 | €303,242 | +€204,011 | +205.6% |
| Income taxes | 67/77 | €24,269 | €88,636 | +€64,367 | +265.2% |
| Profit (loss) for the period | 9904 | €74,962 | €214,606 | +€139,644 | +186.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,962 | €214,606 | +€139,644 | +186.3% |
Source: filed annual accounts (NBB), financial years ended 28 September 2022 and 27 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.