SEAUTON: 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.
SEAUTON
Largest movements
- Receivables within one year -€2.5m
down €2.5m (-53.3%), from €4.8m to €2.2m
of which Trade receivables: -€2.0m
- Financial fixed assets +€509,556
new in 2025: €509,556
- Cash +€170,794
up €170,794 (+46.2%), from €370,007 to €540,801
mainly Receivables within one year (+€2.5m) and Deferred charges and accrued income (+€119,587)
- Stocks and contracts +€127,624
new in 2025: €127,624
- Deferred charges and accrued income -€119,587
down €119,587 (-86.5%), from €138,226 to €18,639
- Trade debts -€999,884
down €999,884 (-27.0%), from €3.7m to €2.7m
- Other debts -€398,924
down €398,924 (-61.3%), from €650,407 to €251,484
- Profit (loss) carried forward -€185,187
down €185,187 (-18.6%), from -€998,022 to -€1.2m
- Tax, wage and social debts -€125,181
down €125,181 (-88.7%), from €141,107 to €15,926
of which Taxes: -€107,548
- Advances received -€83,877
down €83,877 (-14.4%), from €583,877 to €500,000
- Turnover -€3.9m
no longer reported in 2025 (was €3.9m)
- Purchases and services -€3.5m
no longer reported in 2025 (was €3.5m)
- Gross operating margin -€574,351
down €574,351, from €570,844 to -€3,507
- Staff costs -€441,383
down €441,383 (-76.4%), from €577,654 to €136,270
- Financial charges -€70,909
down €70,909 (-73.7%), from €96,218 to €25,310
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 | €5,299,939 | €3,444,269 | -€1.9m | -35.0% |
| Fixed assets | 21/28 | €19,396 | €522,851 | +€503,455 | +2,596% |
| Intangible fixed assets | 21 | €15,774 | €10,868 | -€4,906 | -31.1% |
| Tangible fixed assets | 22/27 | €3,622 | €2,427 | -€1,195 | -33.0% |
| Furniture and vehicles | 24 | €3,622 | €2,427 | -€1,195 | -33.0% |
| Financial fixed assets | 28 | - | €509,556 | +€509,556 | |
| Current assets | 29/58 | €5,280,543 | €2,921,418 | -€2.4m | -44.7% |
| Stocks and contracts in progress | 3 | - | €127,624 | +€127,624 | |
| Contracts in progress | 37 | - | €127,624 | +€127,624 | |
| Amounts receivable within one year | 40/41 | €4,761,044 | €2,223,088 | -€2.5m | -53.3% |
| Trade receivables | 40 | €4,096,298 | €2,066,935 | -€2.0m | -49.5% |
| Other amounts receivable | 41 | €664,746 | €156,153 | -€508,593 | -76.5% |
| Current investments | 50/53 | €11,266 | €11,266 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €370,007 | €540,801 | +€170,794 | +46.2% |
| Deferred charges and accrued income | 490/1 | €138,226 | €18,639 | -€119,587 | -86.5% |
| Total equity and liabilities | 10/49 | €5,299,939 | €3,444,269 | -€1.9m | -35.0% |
| Equity | 10/15 | €80,342 | -€104,845 | -€185,187 | |
| Contributions | 10/11 | €580,000 | €580,000 | = | 0.0% |
| Reserves | 13 | €498,364 | €498,364 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €485,364 | €485,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€998,022 | -€1,183,209 | -€185,187 | -18.6% |
| Provisions and deferred taxes | 16 | €22,688 | - | -€22,688 | |
| Provisions for liabilities and charges | 160/5 | €22,688 | - | -€22,688 | |
| Other liabilities and charges | 164/5 | €22,688 | - | -€22,688 | |
| Amounts payable | 17/49 | €5,196,908 | €3,549,114 | -€1.6m | -31.7% |
| Amounts payable after more than one year | 17 | €53,061 | €53,061 | = | 0.0% |
| Other amounts payable | 178/9 | €53,061 | €53,061 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,104,017 | €3,496,053 | -€1.6m | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €31,499 | €31,400 | -€99 | -0.3% |
| Trade debts | 44 | €3,697,127 | €2,697,243 | -€999,884 | -27.0% |
| Suppliers | 440/4 | €3,697,127 | €2,697,243 | -€999,884 | -27.0% |
| Advances received on contracts in progress | 46 | €583,877 | €500,000 | -€83,877 | -14.4% |
| Taxes, remuneration and social security | 45 | €141,107 | €15,926 | -€125,181 | -88.7% |
| Taxes | 450/3 | €107,753 | €205 | -€107,548 | -99.8% |
| Remuneration and social security | 454/9 | €33,354 | €15,721 | -€17,633 | -52.9% |
| Other amounts payable | 47/48 | €650,407 | €251,484 | -€398,924 | -61.3% |
| Accrued charges and deferred income | 492/3 | €39,830 | - | -€39,830 | |
| Turnover | 70 | €3,905,525 | - | -€3.9m | |
| Non-recurring operating income | 76A | €4,349 | - | -€4,349 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,474,848 | - | -€3.5m | |
| Remuneration, social security and pensions | 62 | €577,654 | €136,270 | -€441,383 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,142 | €6,101 | -€45,041 | -88.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€215 | - | +€215 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€22,688 | -€22,688 | |
| Other operating charges | 640/8 | €134,287 | €68,422 | -€65,865 | -49.0% |
| Gross operating margin | 9900 | €570,844 | -€3,507 | -€574,351 | |
| Operating profit (loss) | 9901 | -€192,024 | -€191,612 | +€412 | +0.2% |
| Financial income | 75/76B | €79,739 | €32,876 | -€46,863 | -58.8% |
| Recurring financial income | 75 | €79,739 | €32,876 | -€46,863 | -58.8% |
| Financial charges | 65/66B | €96,218 | €25,310 | -€70,909 | -73.7% |
| Recurring financial charges | 65 | €96,218 | €25,310 | -€70,909 | -73.7% |
| Profit (loss) for the period before taxes | 9903 | -€208,503 | -€184,046 | +€24,457 | +11.7% |
| Income taxes | 67/77 | -€0 | €1,141 | +€1,142 | |
| Profit (loss) for the period | 9904 | -€208,503 | -€185,187 | +€23,316 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,503 | -€185,187 | +€23,316 | +11.2% |
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.