SEASHOP: 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.
SEASHOP
Largest movements
- Stocks and contracts +€61,473
up €61,473 (+19.6%), from €314,388 to €375,861
- Receivables within one year -€56,289
down €56,289 (-31.5%), from €178,687 to €122,398
of which Trade receivables: -€55,038
- Tangible fixed assets -€31,314
down €31,314 (-33.4%), from €93,736 to €62,421
of which Other tangible fixed assets: -€21,420
- Cash -€14,672
down €14,672 (-90.9%), from €16,142 to €1,470
mainly Other debts (-€61,902) and Stocks and contracts (-€61,473)
- Other debts -€61,902
down €61,902 (-57.8%), from €107,006 to €45,104
- Trade debts +€30,545
up €30,545 (+24.0%), from €127,096 to €157,641
- Current portion of long-term debt -€16,332
down €16,332 (-39.9%), from €40,920 to €24,588
- Debts after one year +€8,297
up €8,297 (+4.0%), from €205,691 to €213,988
- Staff costs +€11,710
up €11,710 (+13.6%), from €86,324 to €98,034
- Financial charges -€6,703
down €6,703 (-23.6%), from €28,364 to €21,661
- Write-downs -€6,416
no longer reported in 2025 (was €6,416)
- Depreciation +€4,936
up €4,936 (+15.0%), from €32,825 to €37,761
- Gross operating margin +€1,766
up €1,766 (+1.1%), from €157,416 to €159,182
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 | €618,404 | €580,307 | -€38,097 | -6.2% |
| Fixed assets | 21/28 | €109,187 | €76,033 | -€33,155 | -30.4% |
| Intangible fixed assets | 21 | €13,280 | €11,440 | -€1,840 | -13.9% |
| Tangible fixed assets | 22/27 | €93,736 | €62,421 | -€31,314 | -33.4% |
| Plant, machinery and equipment | 23 | €727 | €348 | -€378 | -52.1% |
| Furniture and vehicles | 24 | €39,837 | €30,321 | -€9,516 | -23.9% |
| Other tangible fixed assets | 26 | €53,172 | €31,752 | -€21,420 | -40.3% |
| Financial fixed assets | 28 | €2,172 | €2,172 | = | 0.0% |
| Current assets | 29/58 | €509,217 | €504,274 | -€4,943 | -1.0% |
| Stocks and contracts in progress | 3 | €314,388 | €375,861 | +€61,473 | +19.6% |
| Stocks | 30/36 | €314,388 | €375,861 | +€61,473 | +19.6% |
| Amounts receivable within one year | 40/41 | €178,687 | €122,398 | -€56,289 | -31.5% |
| Trade receivables | 40 | €63,049 | €8,011 | -€55,038 | -87.3% |
| Other amounts receivable | 41 | €115,638 | €114,386 | -€1,252 | -1.1% |
| Cash at bank and in hand | 54/58 | €16,142 | €1,470 | -€14,672 | -90.9% |
| Deferred charges and accrued income | 490/1 | - | €4,546 | +€4,546 | |
| Total equity and liabilities | 10/49 | €618,404 | €580,307 | -€38,097 | -6.2% |
| Equity | 10/15 | €52,253 | €52,863 | +€610 | +1.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,253 | €4,863 | +€610 | +14.3% |
| Amounts payable | 17/49 | €566,151 | €527,444 | -€38,707 | -6.8% |
| Amounts payable after more than one year | 17 | €205,691 | €213,988 | +€8,297 | +4.0% |
| Financial debts | 170/4 | €205,691 | €213,988 | +€8,297 | +4.0% |
| Amounts payable within one year | 42/48 | €335,684 | €288,680 | -€47,004 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €40,920 | €24,588 | -€16,332 | -39.9% |
| Trade debts | 44 | €127,096 | €157,641 | +€30,545 | +24.0% |
| Suppliers | 440/4 | €127,096 | €157,641 | +€30,545 | +24.0% |
| Taxes, remuneration and social security | 45 | €60,663 | €61,348 | +€685 | +1.1% |
| Taxes | 450/3 | €41,251 | €39,271 | -€1,981 | -4.8% |
| Remuneration and social security | 454/9 | €19,412 | €22,077 | +€2,666 | +13.7% |
| Other amounts payable | 47/48 | €107,006 | €45,104 | -€61,902 | -57.8% |
| Accrued charges and deferred income | 492/3 | €24,776 | €24,776 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €86,324 | €98,034 | +€11,710 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,825 | €37,761 | +€4,936 | +15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,416 | - | -€6,416 | |
| Other operating charges | 640/8 | €935 | €1,217 | +€283 | +30.3% |
| Gross operating margin | 9900 | €157,416 | €159,182 | +€1,766 | +1.1% |
| Operating profit (loss) | 9901 | €30,916 | €22,170 | -€8,747 | -28.3% |
| Financial income | 75/76B | €100 | €101 | +€1 | +0.8% |
| Recurring financial income | 75 | €100 | €101 | +€1 | +0.8% |
| Financial charges | 65/66B | €28,364 | €21,661 | -€6,703 | -23.6% |
| Recurring financial charges | 65 | €28,364 | €21,661 | -€6,703 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €2,653 | €610 | -€2,043 | -77.0% |
| Profit (loss) for the period | 9904 | €2,653 | €610 | -€2,043 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,653 | €610 | -€2,043 | -77.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.