Secant: 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.
Secant
Largest movements
- Current investments +€61,555
up €61,555 (+40.0%), from €153,778 to €215,333
- Receivables after one year +€30,000
new in 2025: €30,000
- Cash -€25,833
down €25,833 (-25.3%), from €102,158 to €76,325
mainly Current investments (-€61,555) and Receivables after one year (-€30,000)
- Tangible fixed assets -€10,525
down €10,525 (-46.1%), from €22,846 to €12,322
of which Furniture and vehicles: -€7,090
- Receivables within one year +€3,879
up €3,879 (+10.8%), from €35,902 to €39,781
of which Trade receivables: +€33,717
- Trade debts +€40,333
up €40,333 (+201.9%), from €19,977 to €60,309
- Reserves +€33,993
up €33,993 (+20.8%), from €163,104 to €197,097
- Tax, wage and social debts -€15,042
down €15,042 (-61.6%), from €24,417 to €9,376
- Gross operating margin -€64,595
down €64,595 (-63.2%), from €102,223 to €37,628
- Financial income +€18,122
up €18,122 (+472.5%), from €3,836 to €21,958
- Taxes -€12,256
down €12,256 (-46.6%), from €26,323 to €14,067
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 | €316,120 | €375,526 | +€59,407 | +18.8% |
| Fixed assets | 21/28 | €22,846 | €12,322 | -€10,525 | -46.1% |
| Tangible fixed assets | 22/27 | €22,846 | €12,322 | -€10,525 | -46.1% |
| Plant, machinery and equipment | 23 | €7,862 | €4,428 | -€3,434 | -43.7% |
| Furniture and vehicles | 24 | €14,984 | €7,894 | -€7,090 | -47.3% |
| Current assets | 29/58 | €293,273 | €363,205 | +€69,931 | +23.8% |
| Amounts receivable after more than one year | 29 | - | €30,000 | +€30,000 | |
| Trade receivables | 290 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €35,902 | €39,781 | +€3,879 | +10.8% |
| Trade receivables | 40 | €547 | €34,264 | +€33,717 | +6162.3% |
| Other amounts receivable | 41 | €35,355 | €5,517 | -€29,838 | -84.4% |
| Current investments | 50/53 | €153,778 | €215,333 | +€61,555 | +40.0% |
| Cash at bank and in hand | 54/58 | €102,158 | €76,325 | -€25,833 | -25.3% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,767 | +€331 | +23.1% |
| Total equity and liabilities | 10/49 | €316,120 | €375,526 | +€59,407 | +18.8% |
| Equity | 10/15 | €271,447 | €305,440 | +€33,993 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163,104 | €197,097 | +€33,993 | +20.8% |
| Distributable reserves | 133 | €163,104 | €197,097 | +€33,993 | +20.8% |
| Profit (loss) carried forward | 14 | €89,743 | €89,743 | = | 0.0% |
| Amounts payable | 17/49 | €44,672 | €70,086 | +€25,414 | +56.9% |
| Amounts payable within one year | 42/48 | €44,672 | €70,086 | +€25,414 | +56.9% |
| Trade debts | 44 | €19,977 | €60,309 | +€40,333 | +201.9% |
| Suppliers | 440/4 | €19,977 | €60,309 | +€40,333 | +201.9% |
| Taxes, remuneration and social security | 45 | €24,417 | €9,376 | -€15,042 | -61.6% |
| Taxes | 450/3 | €24,417 | €9,376 | -€15,042 | -61.6% |
| Other amounts payable | 47/48 | €278 | €402 | +€123 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,531 | €10,525 | -€1,006 | -8.7% |
| Other operating charges | 640/8 | €754 | €798 | +€45 | +5.9% |
| Gross operating margin | 9900 | €102,223 | €37,628 | -€64,595 | -63.2% |
| Operating profit (loss) | 9901 | €89,938 | €26,305 | -€63,633 | -70.8% |
| Financial income | 75/76B | €3,836 | €21,958 | +€18,122 | +472.5% |
| Recurring financial income | 75 | €3,836 | €21,958 | +€18,122 | +472.5% |
| Financial charges | 65/66B | €981 | €203 | -€778 | -79.3% |
| Recurring financial charges | 65 | €981 | €203 | -€778 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | €92,792 | €48,059 | -€44,733 | -48.2% |
| Income taxes | 67/77 | €26,323 | €14,067 | -€12,256 | -46.6% |
| Profit (loss) for the period | 9904 | €66,469 | €33,993 | -€32,476 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,469 | €33,993 | -€32,476 | -48.9% |
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.