SEALINER: 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.
SEALINER
Largest movements
- Receivables within one year +€672,371
up €672,371 (+69.8%), from €962,778 to €1.6m
of which Trade receivables: +€621,631
- Cash -€281,721
down €281,721 (-19.7%), from €1.4m to €1.1m
mainly Debts after one year (-€1.0m) and Receivables within one year (-€672,371)
- Debts after one year -€1.0m
no longer reported in 2025 (was €1.0m)
- Current portion of long-term debt +€1.0m
new in 2025: €1.0m
- Profit (loss) carried forward +€428,969
up €428,969 (+709%), from €60,521 to €489,490
- Tax, wage and social debts -€51,452
down €51,452 (-11.4%), from €452,430 to €400,977
of which Remuneration and social security: -€51,878
- Gross operating margin +€364,741
up €364,741 (+15.8%), from €2.3m to €2.7m
- Staff costs +€138,938
up €138,938 (+7.1%), from €2.0m to €2.1m
- Taxes +€104,851
up €104,851 (+14,851%), from €706 to €105,557
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 | €2,390,209 | €2,780,859 | +€390,650 | +16.3% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Current assets | 29/58 | €2,390,209 | €2,780,859 | +€390,650 | +16.3% |
| Amounts receivable within one year | 40/41 | €962,778 | €1,635,149 | +€672,371 | +69.8% |
| Trade receivables | 40 | €879,894 | €1,501,525 | +€621,631 | +70.6% |
| Other amounts receivable | 41 | €82,884 | €133,623 | +€50,739 | +61.2% |
| Cash at bank and in hand | 54/58 | €1,427,431 | €1,145,710 | -€281,721 | -19.7% |
| Total equity and liabilities | 10/49 | €2,390,209 | €2,780,859 | +€390,650 | +16.3% |
| Equity | 10/15 | €234,992 | €663,961 | +€428,969 | +183% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €112,470 | €112,470 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €106,270 | €106,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,521 | €489,490 | +€428,969 | +709% |
| Provisions and deferred taxes | 16 | €8,988 | €8,448 | -€540 | -6.0% |
| Provisions for liabilities and charges | 160/5 | €8,988 | €8,448 | -€540 | -6.0% |
| Pensions and similar obligations | 160 | €3,988 | €3,448 | -€540 | -13.5% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,146,230 | €2,108,450 | -€37,779 | -1.8% |
| Amounts payable after more than one year | 17 | €1,000,000 | - | -€1.0m | |
| Financial debts | 170/4 | €1,000,000 | - | -€1.0m | |
| Amounts payable within one year | 42/48 | €1,146,230 | €2,108,450 | +€962,221 | +83.9% |
| Current portion of amounts payable after more than one year | 42 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €693,800 | €707,473 | +€13,673 | +2.0% |
| Suppliers | 440/4 | €693,800 | €707,473 | +€13,673 | +2.0% |
| Taxes, remuneration and social security | 45 | €452,430 | €400,977 | -€51,452 | -11.4% |
| Taxes | 450/3 | €170,385 | €170,811 | +€426 | +0.3% |
| Remuneration and social security | 454/9 | €282,044 | €230,166 | -€51,878 | -18.4% |
| Remuneration, social security and pensions | 62 | €1,967,361 | €2,106,299 | +€138,938 | +7.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,487 | -€540 | -€2,027 | |
| Other operating charges | 640/8 | €8,964 | €1,978 | -€6,986 | -77.9% |
| Gross operating margin | 9900 | €2,306,677 | €2,671,417 | +€364,741 | +15.8% |
| Operating profit (loss) | 9901 | €328,864 | €563,681 | +€234,816 | +71.4% |
| Financial income | 75/76B | €3,201 | €1,960 | -€1,241 | -38.8% |
| Recurring financial income | 75 | €3,201 | €1,960 | -€1,241 | -38.8% |
| Financial charges | 65/66B | €32,896 | €31,114 | -€1,781 | -5.4% |
| Recurring financial charges | 65 | €32,896 | €31,114 | -€1,781 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €299,170 | €534,526 | +€235,357 | +78.7% |
| Income taxes | 67/77 | €706 | €105,557 | +€104,851 | +14,851% |
| Profit (loss) for the period | 9904 | €298,463 | €428,969 | +€130,506 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €298,463 | €428,969 | +€130,506 | +43.7% |
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 26 October 2026 via checked.be.