SEALD: what changed
Two fiscal 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.
SEALD
Largest movements
- Financial fixed assets +€422,140
up €422,140 (+44.6%), from €946,200 to €1.4m
- Receivables within one year -€151,392
down €151,392 (-23.2%), from €652,045 to €500,653
of which Trade receivables: -€574,963
- Cash -€47,666
down €47,666 (-85.4%), from €55,808 to €8,141
mainly Investment in fixed assets (net) (-€422,140) and Other debts (-€128,827)
- Deferred charges and accrued income +€33,880
up €33,880 (+261.3%), from €12,968 to €46,848
- Receivables after one year +€25,000
new in 2024: €25,000
- Profit (loss) carried forward +€339,661
up €339,661 (+889.7%), from €38,176 to €377,837
- Other debts -€128,827
down €128,827 (-11.9%), from €1.1m to €953,821
- Tax, wage and social debts +€54,683
up €54,683 (+80.8%), from €67,651 to €122,334
of which Taxes: +€67,341
- Accrued charges and deferred income +€27,269
up €27,269 (+189.5%), from €14,392 to €41,661
- Financial income +€233,748
up €233,748 (+54339.8%), from €430 to €234,178
- Staff costs -€94,532
down €94,532 (-47.5%), from €198,913 to €104,381
- Taxes +€31,481
up €31,481 (+85.4%), from €36,876 to €68,358
- Financial charges +€25,097
up €25,097 (+94.7%), from €26,508 to €51,605
- Gross operating margin +€16,476
up €16,476 (+5.2%), from €319,117 to €335,592
From the 2023 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
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,674,576 | €1,952,191 | +€277,615 | +16.6% |
| Fixed assets | 21/28 | €953,755 | €1,371,549 | +€417,794 | +43.8% |
| Intangible fixed assets | 21 | €2,695 | €1,611 | -€1,083 | -40.2% |
| Tangible fixed assets | 22/27 | €4,861 | €1,598 | -€3,263 | -67.1% |
| Furniture and vehicles | 24 | €4,861 | €1,598 | -€3,263 | -67.1% |
| Financial fixed assets | 28 | €946,200 | €1,368,340 | +€422,140 | +44.6% |
| Current assets | 29/58 | €720,821 | €580,642 | -€140,178 | -19.4% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €652,045 | €500,653 | -€151,392 | -23.2% |
| Trade receivables | 40 | €614,452 | €39,489 | -€574,963 | -93.6% |
| Other amounts receivable | 41 | €37,592 | €461,164 | +€423,572 | +1126.7% |
| Cash at bank and in hand | 54/58 | €55,808 | €8,141 | -€47,666 | -85.4% |
| Deferred charges and accrued income | 490/1 | €12,968 | €46,848 | +€33,880 | +261.3% |
| Total equity and liabilities | 10/49 | €1,674,576 | €1,952,191 | +€277,615 | +16.6% |
| Equity | 10/15 | €238,176 | €577,837 | +€339,661 | +142.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,176 | €377,837 | +€339,661 | +889.7% |
| Amounts payable | 17/49 | €1,436,400 | €1,374,354 | -€62,045 | -4.3% |
| Amounts payable within one year | 42/48 | €1,422,008 | €1,332,694 | -€89,314 | -6.3% |
| Trade debts | 44 | €271,708 | €256,538 | -€15,170 | -5.6% |
| Suppliers | 440/4 | €271,708 | €256,538 | -€15,170 | -5.6% |
| Taxes, remuneration and social security | 45 | €67,651 | €122,334 | +€54,683 | +80.8% |
| Taxes | 450/3 | €42,322 | €109,663 | +€67,341 | +159.1% |
| Remuneration and social security | 454/9 | €25,329 | €12,671 | -€12,658 | -50.0% |
| Other amounts payable | 47/48 | €1,082,648 | €953,821 | -€128,827 | -11.9% |
| Accrued charges and deferred income | 492/3 | €14,392 | €41,661 | +€27,269 | +189.5% |
| Remuneration, social security and pensions | 62 | €198,913 | €104,381 | -€94,532 | -47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,482 | €4,346 | -€1,136 | -20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,955 | €0 | -€9,955 | -100.0% |
| Other operating charges | 640/8 | €2,595 | €1,420 | -€1,175 | -45.3% |
| Non-recurring operating charges | 66A | €1,041 | €0 | -€1,041 | -100.0% |
| Gross operating margin | 9900 | €319,117 | €335,592 | +€16,476 | +5.2% |
| Operating profit (loss) | 9901 | €101,130 | €225,445 | +€124,314 | +122.9% |
| Financial income | 75/76B | €430 | €234,178 | +€233,748 | +54339.8% |
| Recurring financial income | 75 | €430 | €234,178 | +€233,748 | +54339.8% |
| Financial charges | 65/66B | €26,508 | €51,605 | +€25,097 | +94.7% |
| Recurring financial charges | 65 | €26,508 | €51,605 | +€25,097 | +94.7% |
| Profit (loss) for the period before taxes | 9903 | €75,053 | €408,018 | +€332,966 | +443.6% |
| Income taxes | 67/77 | €36,876 | €68,358 | +€31,481 | +85.4% |
| Profit (loss) for the period | 9904 | €38,176 | €339,661 | +€301,485 | +789.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,176 | €339,661 | +€301,485 | +789.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.