SEARSHA: 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.
SEARSHA
Largest movements
- Tangible fixed assets -€43,702
down €43,702 (-4.1%), from €1.1m to €1.0m
of which Land and buildings: -€42,551
- Cash -€31,793
down €31,793 (-20.8%), from €152,787 to €120,994
mainly Net result for the year (-€79,756) and Debts after one year (-€26,316)
- Profit (loss) carried forward -€79,756
down €79,756 (-25.9%), from -€308,335 to -€388,090
- Accrued charges and deferred income +€34,837
up €34,837 (+24.5%), from €142,396 to €177,233
- Debts after one year -€26,316
down €26,316 (-3.1%), from €862,782 to €836,466
- Gross operating margin +€36,672
up €36,672, from -€19,981 to €16,691
- Financial charges +€13,596
up €13,596 (+258%), from €5,270 to €18,866
- Other operating charges +€589
up €589 (+1.8%), from €32,696 to €33,285
- Depreciation -€319
down €319 (-0.7%), from €44,021 to €43,702
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 | €1,730,909 | €1,657,087 | -€73,822 | -4.3% |
| Fixed assets | 21/28 | €1,550,289 | €1,506,587 | -€43,702 | -2.8% |
| Tangible fixed assets | 22/27 | €1,057,869 | €1,014,167 | -€43,702 | -4.1% |
| Land and buildings | 22 | €1,055,707 | €1,013,156 | -€42,551 | -4.0% |
| Furniture and vehicles | 24 | €2,162 | €1,011 | -€1,151 | -53.2% |
| Financial fixed assets | 28 | €492,420 | €492,420 | = | 0.0% |
| Current assets | 29/58 | €180,620 | €150,500 | -€30,120 | -16.7% |
| Amounts receivable within one year | 40/41 | €24,327 | €26,621 | +€2,294 | +9.4% |
| Trade receivables | 40 | €7,750 | €9,750 | +€2,000 | +25.8% |
| Other amounts receivable | 41 | €16,577 | €16,871 | +€294 | +1.8% |
| Cash at bank and in hand | 54/58 | €152,787 | €120,994 | -€31,793 | -20.8% |
| Deferred charges and accrued income | 490/1 | €3,507 | €2,886 | -€621 | -17.7% |
| Total equity and liabilities | 10/49 | €1,730,909 | €1,657,087 | -€73,822 | -4.3% |
| Equity | 10/15 | €691,665 | €611,910 | -€79,756 | -11.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€308,335 | -€388,090 | -€79,756 | -25.9% |
| Amounts payable | 17/49 | €1,039,244 | €1,045,178 | +€5,934 | +0.6% |
| Amounts payable after more than one year | 17 | €862,782 | €836,466 | -€26,316 | -3.1% |
| Other amounts payable | 178/9 | €862,782 | €836,466 | -€26,316 | -3.1% |
| Amounts payable within one year | 42/48 | €34,066 | €31,478 | -€2,588 | -7.6% |
| Trade debts | 44 | €3,996 | €3,544 | -€452 | -11.3% |
| Suppliers | 440/4 | €3,996 | €3,544 | -€452 | -11.3% |
| Taxes, remuneration and social security | 45 | €3,242 | €3,257 | +€15 | +0.5% |
| Taxes | 450/3 | €742 | €757 | +€15 | +2.0% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €26,828 | €24,677 | -€2,151 | -8.0% |
| Accrued charges and deferred income | 492/3 | €142,396 | €177,233 | +€34,837 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,021 | €43,702 | -€319 | -0.7% |
| Other operating charges | 640/8 | €32,696 | €33,285 | +€589 | +1.8% |
| Gross operating margin | 9900 | -€19,981 | €16,691 | +€36,672 | |
| Operating profit (loss) | 9901 | -€96,698 | -€60,296 | +€36,402 | +37.6% |
| Financial income | 75/76B | €162 | €164 | +€2 | +1.0% |
| Recurring financial income | 75 | €162 | €164 | +€2 | +1.0% |
| Financial charges | 65/66B | €5,270 | €18,866 | +€13,596 | +258% |
| Recurring financial charges | 65 | €5,270 | €18,866 | +€13,596 | +258% |
| Profit (loss) for the period before taxes | 9903 | -€101,806 | -€78,999 | +€22,808 | +22.4% |
| Income taxes | 67/77 | €742 | €757 | +€15 | +2.0% |
| Profit (loss) for the period | 9904 | -€102,549 | -€79,756 | +€22,793 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€102,549 | -€79,756 | +€22,793 | +22.2% |
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 17 October 2026 via checked.be.