SEALUTION: 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.
SEALUTION
Largest movements
- Receivables within one year -€69,943
down €69,943 (-78.2%), from €89,476 to €19,533
of which Other amounts receivable: -€69,499
- Intangible fixed assets -€25,257
down €25,257 (-4.0%), from €636,369 to €611,112
- Other debts +€376,445
up €376,445 (+189.2%), from €199,000 to €575,445
- Profit (loss) carried forward -€345,461
down €345,461 (-63.2%), from -€546,719 to -€892,180
- Trade debts -€111,387
down €111,387 (-85.1%), from €130,938 to €19,551
- Accrued charges and deferred income +€33,722
up €33,722 (+150.4%), from €22,420 to €56,142
- Debts after one year -€25,000
down €25,000 (-3.1%), from €798,529 to €773,529
- Staff costs -€114,690
down €114,690 (-48.8%), from €235,099 to €120,409
- Gross operating margin -€109,907
down €109,907, from €105,973 to -€3,934
- Depreciation +€63,611
up €63,611 (+54.6%), from €116,465 to €180,077
- Financial charges +€18,846
up €18,846 (+94.8%), from €19,884 to €38,731
- Financial income -€1,238
down €1,238 (-97.9%), from €1,265 to €26
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 | €757,968 | €657,758 | -€100,210 | -13.2% |
| Fixed assets | 21/28 | €658,222 | €634,227 | -€23,995 | -3.6% |
| Intangible fixed assets | 21 | €636,369 | €611,112 | -€25,257 | -4.0% |
| Tangible fixed assets | 22/27 | €21,853 | €23,115 | +€1,262 | +5.8% |
| Plant, machinery and equipment | 23 | €17,009 | €18,442 | +€1,433 | +8.4% |
| Furniture and vehicles | 24 | €4,844 | €4,673 | -€171 | -3.5% |
| Current assets | 29/58 | €99,746 | €23,531 | -€76,215 | -76.4% |
| Amounts receivable within one year | 40/41 | €89,476 | €19,533 | -€69,943 | -78.2% |
| Trade receivables | 40 | €7,439 | €6,994 | -€445 | -6.0% |
| Other amounts receivable | 41 | €82,037 | €12,538 | -€69,499 | -84.7% |
| Cash at bank and in hand | 54/58 | €3,583 | €25 | -€3,557 | -99.3% |
| Deferred charges and accrued income | 490/1 | €6,687 | €3,973 | -€2,714 | -40.6% |
| Total equity and liabilities | 10/49 | €757,968 | €657,758 | -€100,210 | -13.2% |
| Equity | 10/15 | -€538,719 | -€884,180 | -€345,461 | -64.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€546,719 | -€892,180 | -€345,461 | -63.2% |
| Amounts payable | 17/49 | €1,296,686 | €1,541,938 | +€245,251 | +18.9% |
| Amounts payable after more than one year | 17 | €798,529 | €773,529 | -€25,000 | -3.1% |
| Financial debts | 170/4 | €798,529 | €773,529 | -€25,000 | -3.1% |
| Amounts payable within one year | 42/48 | €475,737 | €712,266 | +€236,529 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €84,833 | €63,370 | -€21,463 | -25.3% |
| Trade debts | 44 | €130,938 | €19,551 | -€111,387 | -85.1% |
| Suppliers | 440/4 | €130,938 | €19,551 | -€111,387 | -85.1% |
| Taxes, remuneration and social security | 45 | €60,967 | €53,900 | -€7,067 | -11.6% |
| Remuneration and social security | 454/9 | €60,967 | €53,900 | -€7,067 | -11.6% |
| Other amounts payable | 47/48 | €199,000 | €575,445 | +€376,445 | +189.2% |
| Accrued charges and deferred income | 492/3 | €22,420 | €56,142 | +€33,722 | +150.4% |
| Remuneration, social security and pensions | 62 | €235,099 | €120,409 | -€114,690 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,465 | €180,077 | +€63,611 | +54.6% |
| Other operating charges | 640/8 | €1,120 | €2,337 | +€1,217 | +108.6% |
| Gross operating margin | 9900 | €105,973 | -€3,934 | -€109,907 | |
| Operating profit (loss) | 9901 | -€246,712 | -€306,756 | -€60,045 | -24.3% |
| Financial income | 75/76B | €1,265 | €26 | -€1,238 | -97.9% |
| Recurring financial income | 75 | €1,265 | €26 | -€1,238 | -97.9% |
| Financial charges | 65/66B | €19,884 | €38,731 | +€18,846 | +94.8% |
| Recurring financial charges | 65 | €19,884 | €38,731 | +€18,846 | +94.8% |
| Profit (loss) for the period before taxes | 9903 | -€265,331 | -€345,461 | -€80,130 | -30.2% |
| Profit (loss) for the period | 9904 | -€265,331 | -€345,461 | -€80,130 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€265,331 | -€345,461 | -€80,130 | -30.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.