SEALPOWER: 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.
SEALPOWER
Largest movements
- Receivables within one year +€2,591
up €2,591 (+9.0%), from €28,763 to €31,353
of which Trade receivables: +€3,032
- Cash -€2,174
down €2,174 (-12.6%), from €17,211 to €15,038
mainly Contributions, distributions and other (-€23,529) and Receivables within one year (-€2,591)
- Tangible fixed assets -€563
down €563 (-29.4%), from €1,913 to €1,350
- Tax, wage and social debts -€1,283
down €1,283 (-5.9%), from €21,847 to €20,564
- Trade debts +€938
up €938 (+38.4%), from €2,443 to €3,381
- Profit (loss) carried forward +€565
up €565 (+2.6%), from €21,757 to €22,322
- Gross operating margin -€13,251
down €13,251 (-26.8%), from €49,412 to €36,161
- Financial charges -€5,651
down €5,651 (-82.0%), from €6,893 to €1,242
- Taxes -€1,382
down €1,382 (-16.1%), from €8,590 to €7,208
- Depreciation +€563
new in 2025: €563
- Other operating charges -€536
down €536 (-38.3%), from €1,398 to €862
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.
Cash bridge derived
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 | €47,886 | €47,741 | -€146 | -0.3% |
| Fixed assets | 21/28 | €1,913 | €1,350 | -€563 | -29.4% |
| Tangible fixed assets | 22/27 | €1,913 | €1,350 | -€563 | -29.4% |
| Furniture and vehicles | 24 | €1,913 | €1,350 | -€563 | -29.4% |
| Current assets | 29/58 | €45,974 | €46,391 | +€417 | +0.9% |
| Amounts receivable within one year | 40/41 | €28,763 | €31,353 | +€2,591 | +9.0% |
| Trade receivables | 40 | €25,900 | €28,933 | +€3,032 | +11.7% |
| Other amounts receivable | 41 | €2,862 | €2,421 | -€442 | -15.4% |
| Cash at bank and in hand | 54/58 | €17,211 | €15,038 | -€2,174 | -12.6% |
| Total equity and liabilities | 10/49 | €47,886 | €47,741 | -€146 | -0.3% |
| Equity | 10/15 | €22,957 | €23,522 | +€565 | +2.5% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,757 | €22,322 | +€565 | +2.6% |
| Amounts payable | 17/49 | €24,929 | €24,219 | -€710 | -2.8% |
| Amounts payable within one year | 42/48 | €24,929 | €24,219 | -€710 | -2.8% |
| Trade debts | 44 | €2,443 | €3,381 | +€938 | +38.4% |
| Suppliers | 440/4 | €2,443 | €3,381 | +€938 | +38.4% |
| Taxes, remuneration and social security | 45 | €21,847 | €20,564 | -€1,283 | -5.9% |
| Taxes | 450/3 | €21,847 | €20,564 | -€1,283 | -5.9% |
| Other amounts payable | 47/48 | €639 | €274 | -€365 | -57.1% |
| Remuneration, social security and pensions | 62 | €2,685 | €2,192 | -€492 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €563 | +€563 | |
| Other operating charges | 640/8 | €1,398 | €862 | -€536 | -38.3% |
| Gross operating margin | 9900 | €49,412 | €36,161 | -€13,251 | -26.8% |
| Operating profit (loss) | 9901 | €45,329 | €32,544 | -€12,785 | -28.2% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €6,893 | €1,242 | -€5,651 | -82.0% |
| Recurring financial charges | 65 | €6,893 | €1,242 | -€5,651 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | €38,471 | €31,302 | -€7,169 | -18.6% |
| Income taxes | 67/77 | €8,590 | €7,208 | -€1,382 | -16.1% |
| Profit (loss) for the period | 9904 | €29,881 | €24,094 | -€5,787 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,881 | €24,094 | -€5,787 | -19.4% |
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 11 October 2026 via checked.be.