SEC NEWGATE EU: 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.
SEC NEWGATE EU
Largest movements
- Cash -€163,025
down €163,025 (-60.1%), from €271,364 to €108,339
mainly Net result for the year (-€212,461) and Accrued charges and deferred income (-€122,343)
- Receivables within one year -€47,618
down €47,618 (-6.2%), from €763,130 to €715,512
of which Trade receivables: -€109,703
- Deferred charges and accrued income -€39,394
down €39,394 (-31.2%), from €126,290 to €86,896
- Reserves -€386,118
down €386,118 (-98.4%), from €392,268 to €6,150
of which Distributable reserves: -€386,118
- Profit (loss) carried forward +€173,657
up €173,657, from €0 to €173,657
- Accrued charges and deferred income -€122,343
down €122,343 (-57.6%), from €212,415 to €90,072
- Short-term financial debts +€58,603
up €58,603, from €0 to €58,603
- Trade debts +€33,857
up €33,857 (+10.4%), from €324,572 to €358,429
- Gross operating margin -€161,854
down €161,854 (-13.0%), from €1.2m to €1.1m
- Staff costs -€50,836
down €50,836 (-3.8%), from €1.3m to €1.3m
- Write-downs +€12,850
up €12,850 (+68.2%), from -€18,850 to -€6,000
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 | €1,179,408 | €923,096 | -€256,312 | -21.7% |
| Fixed assets | 21/28 | €18,624 | €12,349 | -€6,275 | -33.7% |
| Tangible fixed assets | 22/27 | €18,025 | €11,750 | -€6,275 | -34.8% |
| Plant, machinery and equipment | 23 | €7,195 | €2,399 | -€4,796 | -66.7% |
| Furniture and vehicles | 24 | €10,829 | €9,351 | -€1,479 | -13.7% |
| Financial fixed assets | 28 | €599 | €599 | = | 0.0% |
| Current assets | 29/58 | €1,160,784 | €910,747 | -€250,037 | -21.5% |
| Amounts receivable within one year | 40/41 | €763,130 | €715,512 | -€47,618 | -6.2% |
| Trade receivables | 40 | €692,056 | €582,354 | -€109,703 | -15.9% |
| Other amounts receivable | 41 | €71,074 | €133,158 | +€62,084 | +87.4% |
| Cash at bank and in hand | 54/58 | €271,364 | €108,339 | -€163,025 | -60.1% |
| Deferred charges and accrued income | 490/1 | €126,290 | €86,896 | -€39,394 | -31.2% |
| Total equity and liabilities | 10/49 | €1,179,408 | €923,096 | -€256,312 | -21.7% |
| Equity | 10/15 | €453,768 | €241,307 | -€212,461 | -46.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €392,268 | €6,150 | -€386,118 | -98.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €386,118 | €0 | -€386,118 | -100% |
| Profit (loss) carried forward | 14 | €0 | €173,657 | +€173,657 | |
| Amounts payable | 17/49 | €725,640 | €681,790 | -€43,851 | -6.0% |
| Amounts payable within one year | 42/48 | €513,225 | €591,718 | +€78,492 | +15.3% |
| Financial debts | 43 | €0 | €58,603 | +€58,603 | |
| Credit institutions | 430/8 | €0 | €58,603 | +€58,603 | |
| Trade debts | 44 | €324,572 | €358,429 | +€33,857 | +10.4% |
| Suppliers | 440/4 | €324,572 | €358,429 | +€33,857 | +10.4% |
| Taxes, remuneration and social security | 45 | €188,653 | €174,686 | -€13,967 | -7.4% |
| Taxes | 450/3 | €34,824 | €37,691 | +€2,868 | +8.2% |
| Remuneration and social security | 454/9 | €153,830 | €136,994 | -€16,835 | -10.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €212,415 | €90,072 | -€122,343 | -57.6% |
| Remuneration, social security and pensions | 62 | €1,323,668 | €1,272,832 | -€50,836 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,978 | €12,171 | -€3,807 | -23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,850 | -€6,000 | +€12,850 | +68.2% |
| Other operating charges | 640/8 | €1,075 | €2,435 | +€1,360 | +127% |
| Non-recurring operating charges | 66A | - | €11,053 | +€11,053 | |
| Gross operating margin | 9900 | €1,247,402 | €1,085,548 | -€161,854 | -13.0% |
| Operating profit (loss) | 9901 | -€74,469 | -€206,944 | -€132,474 | -178% |
| Financial income | 75/76B | €111 | €91 | -€21 | -18.4% |
| Recurring financial income | 75 | €111 | €91 | -€21 | -18.4% |
| Financial charges | 65/66B | €2,277 | €5,612 | +€3,335 | +146% |
| Recurring financial charges | 65 | €2,277 | €5,612 | +€3,335 | +146% |
| Profit (loss) for the period before taxes | 9903 | -€76,635 | -€212,465 | -€135,830 | -177% |
| Income taxes | 67/77 | €3,261 | -€4 | -€3,265 | |
| Profit (loss) for the period | 9904 | -€79,897 | -€212,461 | -€132,564 | -166% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,897 | -€212,461 | -€132,564 | -166% |
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 18 October 2026 via checked.be.