SECA ENGINEERING: 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.
SECA ENGINEERING
Largest movements
- Receivables within one year +€238,936
up €238,936 (+28.4%), from €841,519 to €1.1m
of which Trade receivables: +€230,792
- Deferred charges and accrued income -€43,516
down €43,516 (-81.8%), from €53,179 to €9,663
- Cash -€28,094
down €28,094 (-7.9%), from €353,791 to €325,696
mainly Receivables within one year (-€238,936) and Contributions, distributions and other (-€80,000)
- Tangible fixed assets -€25,631
down €25,631 (-7.9%), from €323,591 to €297,960
of which Land and buildings: -€25,047
- Other debts +€88,011
up €88,011 (+235.3%), from €37,398 to €125,409
- Short-term financial debts +€65,298
up €65,298 (+72.3%), from €90,344 to €155,642
- Trade debts +€48,151
up €48,151 (+9.9%), from €486,028 to €534,179
- Tax, wage and social debts -€28,517
down €28,517 (-17.3%), from €164,939 to €136,422
of which Taxes: -€36,727
- Debts after one year -€21,762
down €21,762 (-10.3%), from €210,961 to €189,198
- Gross operating margin +€117,092
up €117,092 (+8.6%), from €1.4m to €1.5m
- Taxes +€28,639
up €28,639 (+134.1%), from €21,361 to €50,000
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.
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 | €1,586,470 | €1,730,089 | +€143,619 | +9.1% |
| Fixed assets | 21/28 | €337,981 | €314,274 | -€23,706 | -7.0% |
| Intangible fixed assets | 21 | - | €1,924 | +€1,924 | |
| Tangible fixed assets | 22/27 | €323,591 | €297,960 | -€25,631 | -7.9% |
| Land and buildings | 22 | €302,771 | €277,724 | -€25,047 | -8.3% |
| Plant, machinery and equipment | 23 | €1,192 | €794 | -€398 | -33.4% |
| Furniture and vehicles | 24 | €19,628 | €19,442 | -€186 | -0.9% |
| Financial fixed assets | 28 | €14,390 | €14,390 | = | 0.0% |
| Current assets | 29/58 | €1,248,489 | €1,415,815 | +€167,326 | +13.4% |
| Amounts receivable within one year | 40/41 | €841,519 | €1,080,455 | +€238,936 | +28.4% |
| Trade receivables | 40 | €809,101 | €1,039,894 | +€230,792 | +28.5% |
| Other amounts receivable | 41 | €32,418 | €40,562 | +€8,144 | +25.1% |
| Cash at bank and in hand | 54/58 | €353,791 | €325,696 | -€28,094 | -7.9% |
| Deferred charges and accrued income | 490/1 | €53,179 | €9,663 | -€43,516 | -81.8% |
| Total equity and liabilities | 10/49 | €1,586,470 | €1,730,089 | +€143,619 | +9.1% |
| Equity | 10/15 | €575,431 | €567,476 | -€7,955 | -1.4% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €23,000 | €23,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,000 | €23,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,000 | €23,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €322,431 | €314,476 | -€7,955 | -2.5% |
| Amounts payable | 17/49 | €1,011,038 | €1,162,613 | +€151,575 | +15.0% |
| Amounts payable after more than one year | 17 | €210,961 | €189,198 | -€21,762 | -10.3% |
| Financial debts | 170/4 | €210,961 | €189,198 | -€21,762 | -10.3% |
| Amounts payable within one year | 42/48 | €800,077 | €973,415 | +€173,337 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €21,368 | €21,762 | +€394 | +1.8% |
| Financial debts | 43 | €90,344 | €155,642 | +€65,298 | +72.3% |
| Credit institutions | 430/8 | €90,344 | €155,642 | +€65,298 | +72.3% |
| Trade debts | 44 | €486,028 | €534,179 | +€48,151 | +9.9% |
| Suppliers | 440/4 | €486,028 | €534,179 | +€48,151 | +9.9% |
| Taxes, remuneration and social security | 45 | €164,939 | €136,422 | -€28,517 | -17.3% |
| Taxes | 450/3 | €36,727 | - | -€36,727 | |
| Remuneration and social security | 454/9 | €128,212 | €136,422 | +€8,210 | +6.4% |
| Other amounts payable | 47/48 | €37,398 | €125,409 | +€88,011 | +235.3% |
| Remuneration, social security and pensions | 62 | €1,274,731 | €1,279,068 | +€4,337 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,011 | €35,336 | -€675 | -1.9% |
| Other operating charges | 640/8 | €9,680 | €13,904 | +€4,224 | +43.6% |
| Gross operating margin | 9900 | €1,357,111 | €1,474,203 | +€117,092 | +8.6% |
| Operating profit (loss) | 9901 | €36,690 | €145,896 | +€109,207 | +297.6% |
| Financial income | 75/76B | €940 | €138 | -€802 | -85.3% |
| Recurring financial income | 75 | €940 | €138 | -€802 | -85.3% |
| Financial charges | 65/66B | €23,504 | €23,989 | +€485 | +2.1% |
| Recurring financial charges | 65 | €23,504 | €23,989 | +€485 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €14,126 | €122,045 | +€107,919 | +764.0% |
| Income taxes | 67/77 | €21,361 | €50,000 | +€28,639 | +134.1% |
| Profit (loss) for the period | 9904 | -€7,236 | €72,045 | +€79,280 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,236 | €72,045 | +€79,280 |
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 9 October 2026 via checked.be.