SECATEX: 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.
SECATEX
Largest movements
- Cash -€106,668
down €106,668 (-41.0%), from €260,067 to €153,399
mainly Receivables within one year (-€88,388) and Trade debts (-€20,851)
- Receivables within one year +€88,388
up €88,388 (+48.8%), from €181,242 to €269,630
of which Other amounts receivable: +€126,286
- Tangible fixed assets -€23,030
down €23,030 (-43.1%), from €53,480 to €30,450
of which Furniture and vehicles: -€22,039
- Trade debts -€20,851
down €20,851 (-15.3%), from €136,184 to €115,333
- Current portion of long-term debt -€14,057
no longer reported in 2025 (was €14,057)
- Gross operating margin -€82,355
down €82,355 (-45.1%), from €182,757 to €100,402
- Taxes -€43,168
no longer reported in 2025 (was €43,168)
- Staff costs +€28,052
up €28,052 (+54.0%), from €51,975 to €80,026
- Financial income +€10,823
up €10,823 (+701.7%), from €1,542 to €12,365
of which Financial income: +€10,228
- Other operating charges +€7,957
up €7,957 (+609.7%), from €1,305 to €9,262
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 | €494,789 | €453,478 | -€41,311 | -8.3% |
| Fixed assets | 21/28 | €53,480 | €30,450 | -€23,030 | -43.1% |
| Tangible fixed assets | 22/27 | €53,480 | €30,450 | -€23,030 | -43.1% |
| Furniture and vehicles | 24 | €52,488 | €30,450 | -€22,039 | -42.0% |
| Other tangible fixed assets | 26 | €992 | - | -€992 | |
| Current assets | 29/58 | €441,309 | €423,028 | -€18,280 | -4.1% |
| Amounts receivable within one year | 40/41 | €181,242 | €269,630 | +€88,388 | +48.8% |
| Trade receivables | 40 | €175,408 | €137,511 | -€37,898 | -21.6% |
| Other amounts receivable | 41 | €5,833 | €132,119 | +€126,286 | +2164.9% |
| Cash at bank and in hand | 54/58 | €260,067 | €153,399 | -€106,668 | -41.0% |
| Total equity and liabilities | 10/49 | €494,789 | €453,478 | -€41,311 | -8.3% |
| Equity | 10/15 | €281,992 | €277,820 | -€4,172 | -1.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €261,992 | €257,820 | -€4,172 | -1.6% |
| Amounts payable | 17/49 | €212,796 | €175,658 | -€37,138 | -17.5% |
| Amounts payable within one year | 42/48 | €212,796 | €175,658 | -€37,138 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €14,057 | - | -€14,057 | |
| Trade debts | 44 | €136,184 | €115,333 | -€20,851 | -15.3% |
| Suppliers | 440/4 | €136,184 | €115,333 | -€20,851 | -15.3% |
| Taxes, remuneration and social security | 45 | €62,555 | €58,081 | -€4,475 | -7.2% |
| Taxes | 450/3 | €36,455 | €33,712 | -€2,743 | -7.5% |
| Remuneration and social security | 454/9 | €26,100 | €24,368 | -€1,732 | -6.6% |
| Other amounts payable | 47/48 | - | €2,245 | +€2,245 | |
| Non-recurring operating income | 76A | - | €129 | +€129 | |
| Remuneration, social security and pensions | 62 | €51,975 | €80,026 | +€28,052 | +54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,141 | €27,041 | -€1,100 | -3.9% |
| Other operating charges | 640/8 | €1,305 | €9,262 | +€7,957 | +609.7% |
| Non-recurring operating charges | 66A | - | €230 | +€230 | |
| Gross operating margin | 9900 | €182,757 | €100,402 | -€82,355 | -45.1% |
| Operating profit (loss) | 9901 | €101,336 | -€16,158 | -€117,494 | |
| Financial income | 75/76B | €1,542 | €12,365 | +€10,823 | +701.7% |
| Recurring financial income | 75 | €1,542 | €11,770 | +€10,228 | +663.1% |
| Non-recurring financial income | 76B | €1,542 | €595 | -€948 | -61.4% |
| Financial charges | 65/66B | €4,475 | €379 | -€4,095 | -91.5% |
| Recurring financial charges | 65 | €3,679 | €359 | -€3,320 | -90.2% |
| Non-recurring financial charges | 66B | €795 | €20 | -€775 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €98,404 | -€4,172 | -€102,576 | |
| Income taxes | 67/77 | €43,168 | - | -€43,168 | |
| Profit (loss) for the period | 9904 | €55,236 | -€4,172 | -€59,408 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,236 | -€4,172 | -€59,408 |
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 12 October 2026 via checked.be.