SEAPORT TERMINALS: 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.
What changed
SEAPORT TERMINALS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19.0m
2024 · €41.0m-€22.0m
Equity
€43.9m
2024 · €25.2m+€18.7m
Cash
€1,362
2024 · €1,360+€2
Balance sheet total
€44.7m
2024 · €25.5m+€19.2m
Largest movements
Assets
- Receivables within one year +€19.3m
up €19.3m (+969%), from €2.0m to €21.3m
of which Other amounts receivable: +€18.9m
Equity and liabilities
- Reserves +€18.7m
up €18.7m (+537%), from €3.5m to €22.2m
of which Distributable reserves: +€18.7m
- Trade debts +€529,762
up €529,762 (+417%), from €126,925 to €656,686
Income statement
- Financial income -€22.5m
down €22.5m (-54.3%), from €41.4m to €18.9m
- Turnover +€633,811
up €633,811 (+38.0%), from €1.7m to €2.3m
- Services and other goods +€629,596
up €629,596 (+41.1%), from €1.5m to €2.2m
- Financial charges -€447,307
down €447,307 (-89.0%), from €502,370 to €55,063
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.
Result 2024
€41.0m
Turnover
+€633,811
Other operating income
-€132
Services and other goods
-€629,596
Other operating charges
+€185
Financial income
-€22.5m
Financial charges
+€447,307
Taxes
+€17,825
Result 2025
€19.0m
raises the resultlowers the result
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.
From operations
+€244,659
Investment
€0
Financing
-€244,657
Cash 2024
€1,360
From operations (derived)
+€244,659
Net result for the year
+€19.0m
Receivables within one year
-€19.3m
Smaller working-capital items
+€21,058
Trade debts
+€529,762
Financing
-€244,657
Contributions, distributions and other
-€244,657
Cash 2025
€1,362
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,489,759 | €44,729,673 | +€19.2m | +75.5% |
| Fixed assets | 21/28 | €23,421,876 | €23,421,876 | = | 0.0% |
| Financial fixed assets | 28 | €23,421,876 | €23,421,876 | = | 0.0% |
| Affiliated companies | 280/1 | €23,421,876 | €23,421,876 | = | 0.0% |
| Participating interests | 280 | €23,421,876 | €23,421,876 | = | 0.0% |
| Current assets | 29/58 | €2,067,883 | €21,307,798 | +€19.2m | +930% |
| Amounts receivable within one year | 40/41 | €1,990,172 | €21,272,644 | +€19.3m | +969% |
| Trade receivables | 40 | €488,949 | €845,923 | +€356,974 | +73.0% |
| Other amounts receivable | 41 | €1,501,223 | €20,426,721 | +€18.9m | +1,261% |
| Cash at bank and in hand | 54/58 | €1,360 | €1,362 | +€2 | +0.1% |
| Deferred charges and accrued income | 490/1 | €76,351 | €33,791 | -€42,560 | -55.7% |
| Total equity and liabilities | 10/49 | €25,489,759 | €44,729,673 | +€19.2m | +75.5% |
| Equity | 10/15 | €25,198,831 | €43,930,486 | +€18.7m | +74.3% |
| Contributions | 10/11 | €21,709,081 | €21,709,081 | = | 0.0% |
| Capital | 10 | €21,709,081 | €21,709,081 | = | 0.0% |
| Issued capital | 100 | €21,709,081 | €21,709,081 | = | 0.0% |
| Reserves | 13 | €3,489,750 | €22,221,405 | +€18.7m | +537% |
| Non-distributable reserves | 130/1 | €2,171,664 | €2,171,664 | = | 0.0% |
| Legal reserve | 130 | €2,170,908 | €2,170,908 | = | 0.0% |
| Reserves not available under the articles | 1311 | €756 | €756 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,073,429 | €1,073,429 | = | 0.0% |
| Distributable reserves | 133 | €244,657 | €18,976,312 | +€18.7m | +7,656% |
| Amounts payable | 17/49 | €290,928 | €799,187 | +€508,259 | +175% |
| Amounts payable within one year | 42/48 | €288,369 | €795,806 | +€507,436 | +176% |
| Trade debts | 44 | €126,925 | €656,686 | +€529,762 | +417% |
| Suppliers | 440/4 | €126,925 | €656,686 | +€529,762 | +417% |
| Taxes, remuneration and social security | 45 | €161,445 | €139,120 | -€22,325 | -13.8% |
| Taxes | 450/3 | €161,445 | €139,120 | -€22,325 | -13.8% |
| Accrued charges and deferred income | 492/3 | €2,559 | €3,382 | +€823 | +32.2% |
| Operating income | 70/76A | €1,669,671 | €2,303,350 | +€633,679 | +38.0% |
| Turnover | 70 | €1,669,539 | €2,303,350 | +€633,811 | +38.0% |
| Other operating income | 74 | €132 | - | -€132 | |
| Operating charges | 60/66A | €1,531,665 | €2,161,076 | +€629,411 | +41.1% |
| Services and other goods | 61 | €1,530,482 | €2,160,078 | +€629,596 | +41.1% |
| Other operating charges | 640/8 | €1,183 | €998 | -€185 | -15.6% |
| Operating profit (loss) | 9901 | €138,006 | €142,273 | +€4,268 | +3.1% |
| Financial income | 75/76B | €41,427,466 | €18,949,721 | -€22.5m | -54.3% |
| Recurring financial income | 75 | €41,427,466 | €18,949,721 | -€22.5m | -54.3% |
| Income from financial fixed assets | 750 | €40,769,160 | €18,815,953 | -€22.0m | -53.8% |
| Income from current assets | 751 | €157,009 | €78,342 | -€78,667 | -50.1% |
| Other financial income | 752/9 | €501,297 | €55,427 | -€445,870 | -88.9% |
| Financial charges | 65/66B | €502,370 | €55,063 | -€447,307 | -89.0% |
| Recurring financial charges | 65 | €502,370 | €55,063 | -€447,307 | -89.0% |
| Other financial charges | 652/9 | €502,370 | €55,063 | -€447,307 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €41,063,102 | €19,036,932 | -€22.0m | -53.6% |
| Income taxes | 67/77 | €78,445 | €60,620 | -€17,825 | -22.7% |
| Taxes | 670/3 | €78,500 | €80,120 | +€1,620 | +2.1% |
| Tax adjustments and reversals of tax provisions | 77 | €55 | €19,500 | +€19,445 | +35,220% |
| Profit (loss) for the period | 9904 | €40,984,657 | €18,976,312 | -€22.0m | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,984,657 | €18,976,312 | -€22.0m | -53.7% |
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 28 October 2026 via checked.be.