SECA BEL: 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.
SECA BEL
Largest movements
- Receivables within one year -€158,656
down €158,656 (-68.3%), from €232,345 to €73,689
of which Trade receivables: -€152,583
- Cash +€60,617
up €60,617 (+109%), from €55,375 to €115,991
mainly Receivables within one year (+€158,656) and Net result for the year (+€14,029)
- Tangible fixed assets -€7,325
down €7,325 (-46.1%), from €15,888 to €8,563
of which Furniture and vehicles: -€4,286
- Trade debts -€84,821
down €84,821 (-57.2%), from €148,221 to €63,399
- Profit (loss) carried forward -€9,971
down €9,971 (-7.9%), from €126,610 to €116,640
- Tax, wage and social debts -€9,079
down €9,079 (-36.9%), from €24,606 to €15,527
of which Remuneration and social security: -€11,788
- Gross operating margin -€39,161
down €39,161 (-49.0%), from €79,957 to €40,796
- Financial charges +€10,962
up €10,962 (+683%), from €1,606 to €12,568
- Taxes -€9,713
down €9,713 (-65.3%), from €14,885 to €5,172
- Depreciation +€1,026
up €1,026 (+13.9%), from €7,368 to €8,394
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 | €304,437 | €200,566 | -€103,871 | -34.1% |
| Fixed assets | 21/28 | €16,718 | €9,393 | -€7,325 | -43.8% |
| Tangible fixed assets | 22/27 | €15,888 | €8,563 | -€7,325 | -46.1% |
| Plant, machinery and equipment | 23 | €5,963 | €2,925 | -€3,039 | -51.0% |
| Furniture and vehicles | 24 | €9,925 | €5,639 | -€4,286 | -43.2% |
| Financial fixed assets | 28 | €830 | €830 | = | 0.0% |
| Current assets | 29/58 | €287,719 | €191,173 | -€96,546 | -33.6% |
| Amounts receivable within one year | 40/41 | €232,345 | €73,689 | -€158,656 | -68.3% |
| Trade receivables | 40 | €159,315 | €6,732 | -€152,583 | -95.8% |
| Other amounts receivable | 41 | €73,030 | €66,957 | -€6,072 | -8.3% |
| Cash at bank and in hand | 54/58 | €55,375 | €115,991 | +€60,617 | +109% |
| Deferred charges and accrued income | 490/1 | - | €1,493 | +€1,493 | |
| Total equity and liabilities | 10/49 | €304,437 | €200,566 | -€103,871 | -34.1% |
| Equity | 10/15 | €131,610 | €121,640 | -€9,971 | -7.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,610 | €116,640 | -€9,971 | -7.9% |
| Amounts payable | 17/49 | €172,827 | €78,927 | -€93,901 | -54.3% |
| Amounts payable within one year | 42/48 | €172,827 | €78,927 | -€93,901 | -54.3% |
| Trade debts | 44 | €148,221 | €63,399 | -€84,821 | -57.2% |
| Suppliers | 440/4 | €148,221 | €63,399 | -€84,821 | -57.2% |
| Taxes, remuneration and social security | 45 | €24,606 | €15,527 | -€9,079 | -36.9% |
| Taxes | 450/3 | €12,818 | €15,527 | +€2,709 | +21.1% |
| Remuneration and social security | 454/9 | €11,788 | - | -€11,788 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,368 | €8,394 | +€1,026 | +13.9% |
| Other operating charges | 640/8 | €1,311 | €646 | -€665 | -50.7% |
| Gross operating margin | 9900 | €79,957 | €40,796 | -€39,161 | -49.0% |
| Operating profit (loss) | 9901 | €71,278 | €31,756 | -€39,522 | -55.4% |
| Financial income | 75/76B | €17 | €13 | -€4 | -24.4% |
| Recurring financial income | 75 | €17 | €13 | -€4 | -24.4% |
| Financial charges | 65/66B | €1,606 | €12,568 | +€10,962 | +683% |
| Recurring financial charges | 65 | €1,606 | €12,568 | +€10,962 | +683% |
| Profit (loss) for the period before taxes | 9903 | €69,690 | €19,201 | -€50,489 | -72.4% |
| Income taxes | 67/77 | €14,885 | €5,172 | -€9,713 | -65.3% |
| Profit (loss) for the period | 9904 | €54,805 | €14,029 | -€40,776 | -74.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,805 | €14,029 | -€40,776 | -74.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.