SEALTEC Waterproofing: 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.
SEALTEC Waterproofing
Largest movements
- Stocks and contracts +€131,800
up €131,800 (+46.6%), from €282,640 to €414,440
- Receivables within one year -€34,585
down €34,585 (-11.5%), from €301,514 to €266,929
of which Trade receivables: -€31,135
- Cash -€31,165
down €31,165 (-27.7%), from €112,309 to €81,144
mainly Debts after one year (-€158,521) and Stocks and contracts (-€131,800)
- Intangible fixed assets +€11,620
up €11,620 (+1,427%), from €814 to €12,434
- Short-term financial debts +€200,000
new in 2025: €200,000
- Debts after one year -€158,521
down €158,521 (-84.1%), from €188,414 to €29,893
- Current portion of long-term debt +€76,005
up €76,005 (+190%), from €39,956 to €115,961
- Trade debts -€43,642
down €43,642 (-21.1%), from €206,379 to €162,737
- Profit (loss) carried forward +€30,149
up €30,149 (+10.2%), from €296,101 to €326,250
- Gross operating margin +€89,576
up €89,576 (+15.2%), from €589,844 to €679,419
- Financial charges +€30,479
up €30,479 (+106%), from €28,731 to €59,210
- Staff costs -€19,947
down €19,947 (-3.7%), from €532,028 to €512,081
- Other operating charges +€12,116
up €12,116 (+1,252%), from €968 to €13,083
- Depreciation +€9,969
up €9,969 (+23.9%), from €41,677 to €51,647
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 | €819,526 | €902,578 | +€83,052 | +10.1% |
| Fixed assets | 21/28 | €99,213 | €115,549 | +€16,336 | +16.5% |
| Intangible fixed assets | 21 | €814 | €12,434 | +€11,620 | +1,427% |
| Tangible fixed assets | 22/27 | €92,511 | €97,227 | +€4,716 | +5.1% |
| Land and buildings | 22 | €11,413 | €10,169 | -€1,244 | -10.9% |
| Plant, machinery and equipment | 23 | €26,096 | €30,848 | +€4,752 | +18.2% |
| Furniture and vehicles | 24 | €49,428 | €42,525 | -€6,903 | -14.0% |
| Other tangible fixed assets | 26 | €5,574 | €13,685 | +€8,111 | +146% |
| Financial fixed assets | 28 | €5,888 | €5,888 | = | 0.0% |
| Current assets | 29/58 | €720,313 | €787,029 | +€66,716 | +9.3% |
| Stocks and contracts in progress | 3 | €282,640 | €414,440 | +€131,800 | +46.6% |
| Stocks | 30/36 | €282,640 | €414,440 | +€131,800 | +46.6% |
| Amounts receivable within one year | 40/41 | €301,514 | €266,929 | -€34,585 | -11.5% |
| Trade receivables | 40 | €232,447 | €201,312 | -€31,135 | -13.4% |
| Other amounts receivable | 41 | €69,068 | €65,618 | -€3,450 | -5.0% |
| Cash at bank and in hand | 54/58 | €112,309 | €81,144 | -€31,165 | -27.7% |
| Deferred charges and accrued income | 490/1 | €23,850 | €24,516 | +€666 | +2.8% |
| Total equity and liabilities | 10/49 | €819,526 | €902,578 | +€83,052 | +10.1% |
| Equity | 10/15 | €316,561 | €346,710 | +€30,149 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €296,101 | €326,250 | +€30,149 | +10.2% |
| Amounts payable | 17/49 | €502,965 | €555,868 | +€52,903 | +10.5% |
| Amounts payable after more than one year | 17 | €188,414 | €29,893 | -€158,521 | -84.1% |
| Financial debts | 170/4 | €188,414 | €29,893 | -€158,521 | -84.1% |
| Amounts payable within one year | 42/48 | €313,572 | €525,756 | +€212,185 | +67.7% |
| Current portion of amounts payable after more than one year | 42 | €39,956 | €115,961 | +€76,005 | +190% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €206,379 | €162,737 | -€43,642 | -21.1% |
| Suppliers | 440/4 | €206,379 | €162,737 | -€43,642 | -21.1% |
| Taxes, remuneration and social security | 45 | €66,522 | €47,058 | -€19,464 | -29.3% |
| Taxes | 450/3 | €64,577 | €35,153 | -€29,425 | -45.6% |
| Remuneration and social security | 454/9 | €1,945 | €11,905 | +€9,960 | +512% |
| Other amounts payable | 47/48 | €714 | €0 | -€714 | -100% |
| Accrued charges and deferred income | 492/3 | €980 | €219 | -€761 | -77.6% |
| Non-recurring operating income | 76A | €6,451 | €1,263 | -€5,187 | -80.4% |
| Remuneration, social security and pensions | 62 | €532,028 | €512,081 | -€19,947 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,677 | €51,647 | +€9,969 | +23.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,076 | +€4,076 | |
| Other operating charges | 640/8 | €968 | €13,083 | +€12,116 | +1,252% |
| Non-recurring operating charges | 66A | €725 | €1,959 | +€1,234 | +170% |
| Gross operating margin | 9900 | €589,844 | €679,419 | +€89,576 | +15.2% |
| Operating profit (loss) | 9901 | €14,446 | €96,573 | +€82,127 | +569% |
| Financial income | 75/76B | €3,474 | €870 | -€2,604 | -75.0% |
| Recurring financial income | 75 | €3,474 | €870 | -€2,604 | -75.0% |
| Financial charges | 65/66B | €28,731 | €59,210 | +€30,479 | +106% |
| Recurring financial charges | 65 | €28,731 | €59,210 | +€30,479 | +106% |
| Profit (loss) for the period before taxes | 9903 | -€10,811 | €38,233 | +€49,044 | |
| Income taxes | 67/77 | €844 | €8,085 | +€7,241 | +858% |
| Profit (loss) for the period | 9904 | -€11,655 | €30,149 | +€41,803 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,655 | €30,149 | +€41,803 |
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 16 October 2026 via checked.be.