SEAVOLUTION: 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.
SEAVOLUTION
Largest movements
- Cash -€30,707
down €30,707 (-28.7%), from €106,882 to €76,175
mainly Contributions, distributions and other (-€95,000) and Debts after one year (-€12,511)
- Tangible fixed assets -€9,118
down €9,118 (-2.6%), from €355,578 to €346,460
of which Land and buildings: -€7,944
- Reserves -€57,805
down €57,805 (-60.3%), from €95,856 to €38,051
- Other debts +€30,747
up €30,747, from €0 to €30,747
- Debts after one year -€12,511
down €12,511 (-5.8%), from €216,833 to €204,322
- Trade debts -€5,643
down €5,643 (-12.5%), from €45,084 to €39,441
- Taxes +€5,307
up €5,307 (+73.1%), from €7,258 to €12,565
- Gross operating margin +€1,952
up €1,952 (+3.0%), from €65,664 to €67,616
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 | €471,365 | €430,322 | -€41,042 | -8.7% |
| Fixed assets | 21/28 | €355,613 | €346,460 | -€9,153 | -2.6% |
| Intangible fixed assets | 21 | €36 | €0 | -€36 | -100.0% |
| Tangible fixed assets | 22/27 | €355,578 | €346,460 | -€9,118 | -2.6% |
| Land and buildings | 22 | €353,206 | €345,262 | -€7,944 | -2.2% |
| Plant, machinery and equipment | 23 | €2,372 | €1,197 | -€1,174 | -49.5% |
| Current assets | 29/58 | €115,751 | €83,863 | -€31,889 | -27.5% |
| Amounts receivable within one year | 40/41 | €2,000 | €935 | -€1,065 | -53.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,000 | €935 | -€1,065 | -53.3% |
| Cash at bank and in hand | 54/58 | €106,882 | €76,175 | -€30,707 | -28.7% |
| Deferred charges and accrued income | 490/1 | €6,870 | €6,753 | -€116 | -1.7% |
| Total equity and liabilities | 10/49 | €471,365 | €430,322 | -€41,042 | -8.7% |
| Equity | 10/15 | €195,856 | €138,051 | -€57,805 | -29.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €95,856 | €38,051 | -€57,805 | -60.3% |
| Distributable reserves | 133 | €95,856 | €38,051 | -€57,805 | -60.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €275,509 | €292,271 | +€16,762 | +6.1% |
| Amounts payable after more than one year | 17 | €216,833 | €204,322 | -€12,511 | -5.8% |
| Financial debts | 170/4 | €216,833 | €204,322 | -€12,511 | -5.8% |
| Amounts payable within one year | 42/48 | €58,676 | €87,949 | +€29,273 | +49.9% |
| Current portion of amounts payable after more than one year | 42 | €12,333 | €12,511 | +€178 | +1.4% |
| Trade debts | 44 | €45,084 | €39,441 | -€5,643 | -12.5% |
| Suppliers | 440/4 | €45,084 | €39,441 | -€5,643 | -12.5% |
| Taxes, remuneration and social security | 45 | €1,258 | €5,250 | +€3,992 | +317.3% |
| Taxes | 450/3 | €1,258 | €5,250 | +€3,992 | +317.3% |
| Other amounts payable | 47/48 | €0 | €30,747 | +€30,747 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,442 | €11,266 | -€176 | -1.5% |
| Other operating charges | 640/8 | €1,620 | €1,665 | +€45 | +2.8% |
| Gross operating margin | 9900 | €65,664 | €67,616 | +€1,952 | +3.0% |
| Operating profit (loss) | 9901 | €52,602 | €54,685 | +€2,083 | +4.0% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €5,091 | €4,924 | -€166 | -3.3% |
| Recurring financial charges | 65 | €5,091 | €4,924 | -€166 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €47,511 | €49,761 | +€2,249 | +4.7% |
| Income taxes | 67/77 | €7,258 | €12,565 | +€5,307 | +73.1% |
| Profit (loss) for the period | 9904 | €40,253 | €37,195 | -€3,058 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,253 | €37,195 | -€3,058 | -7.6% |
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 29 September 2026 via checked.be.