SEC SHOP: 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 SHOP
Largest movements
- Tangible fixed assets +€7,835
up €7,835 (+278%), from €2,822 to €10,657
of which Plant, machinery and equipment: +€7,011
- Receivables within one year -€7,351
down €7,351 (-84.2%), from €8,730 to €1,379
of which Trade receivables: -€7,351
- Deferred charges and accrued income -€597
no longer reported in 2025 (was €597)
- Cash +€442
up €442 (+2.7%), from €16,569 to €17,011
mainly Receivables within one year (+€7,351) and Net result for the year (+€1,887)
- Trade debts -€1,961
down €1,961 (-41.7%), from €4,709 to €2,748
- Reserves +€1,887
new in 2025: €1,887
- Tax, wage and social debts +€404
up €404 (+28.8%), from €1,402 to €1,806
of which Taxes: +€404
- Gross operating margin -€2,233
down €2,233 (-31.2%), from €7,153 to €4,920
- Taxes +€1,377
new in 2025: €1,377
- Depreciation +€118
up €118 (+151%), from €78 to €195
- Financial charges -€88
down €88 (-46.8%), from €187 to €99
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 | €28,898 | €29,228 | +€330 | +1.1% |
| Fixed assets | 21/28 | €3,002 | €10,837 | +€7,835 | +261% |
| Tangible fixed assets | 22/27 | €2,822 | €10,657 | +€7,835 | +278% |
| Plant, machinery and equipment | 23 | €2,822 | €9,833 | +€7,011 | +248% |
| Furniture and vehicles | 24 | - | €824 | +€824 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €25,896 | €18,390 | -€7,505 | -29.0% |
| Amounts receivable within one year | 40/41 | €8,730 | €1,379 | -€7,351 | -84.2% |
| Trade receivables | 40 | €8,730 | €1,379 | -€7,351 | -84.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,569 | €17,011 | +€442 | +2.7% |
| Deferred charges and accrued income | 490/1 | €597 | - | -€597 | |
| Total equity and liabilities | 10/49 | €28,898 | €29,228 | +€330 | +1.1% |
| Equity | 10/15 | €10,517 | €12,405 | +€1,887 | +17.9% |
| Contributions | 10/11 | €8,065 | €8,065 | = | 0.0% |
| Reserves | 13 | - | €1,887 | +€1,887 | |
| Distributable reserves | 133 | - | €1,887 | +€1,887 | |
| Profit (loss) carried forward | 14 | €2,453 | €2,453 | = | 0.0% |
| Amounts payable | 17/49 | €18,381 | €16,823 | -€1,558 | -8.5% |
| Amounts payable after more than one year | 17 | €12,269 | €12,269 | = | 0.0% |
| Financial debts | 170/4 | €12,269 | €12,269 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,112 | €4,554 | -€1,558 | -25.5% |
| Trade debts | 44 | €4,709 | €2,748 | -€1,961 | -41.7% |
| Suppliers | 440/4 | €4,709 | €2,748 | -€1,961 | -41.7% |
| Taxes, remuneration and social security | 45 | €1,402 | €1,806 | +€404 | +28.8% |
| Taxes | 450/3 | €1,402 | €1,806 | +€404 | +28.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78 | €195 | +€118 | +151% |
| Other operating charges | 640/8 | €1,329 | €1,360 | +€31 | +2.4% |
| Gross operating margin | 9900 | €7,153 | €4,920 | -€2,233 | -31.2% |
| Operating profit (loss) | 9901 | €5,746 | €3,364 | -€2,382 | -41.4% |
| Financial charges | 65/66B | €187 | €99 | -€88 | -46.8% |
| Recurring financial charges | 65 | €187 | €99 | -€88 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €5,559 | €3,265 | -€2,294 | -41.3% |
| Income taxes | 67/77 | - | €1,377 | +€1,377 | |
| Profit (loss) for the period | 9904 | €5,559 | €1,887 | -€3,671 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,559 | €1,887 | -€3,671 | -66.0% |
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 15 October 2026 via checked.be.