SECHWAY: 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.
SECHWAY
Largest movements
- Current investments +€380,562
up €380,562 (+89.9%), from €423,533 to €804,095
- Cash -€153,942
down €153,942 (-41.5%), from €370,780 to €216,837
mainly Current investments (-€380,562) and Tax, wage and social debts (-€20,939)
- Deferred charges and accrued income -€24,756
down €24,756 (-95.2%), from €26,000 to €1,244
- Tangible fixed assets -€15,029
down €15,029 (-38.5%), from €39,017 to €23,989
- Reserves +€234,486
up €234,486 (+31.5%), from €745,234 to €979,720
- Tax, wage and social debts -€20,939
down €20,939 (-21.1%), from €99,339 to €78,400
- Debts after one year -€12,223
down €12,223 (-37.5%), from €32,590 to €20,367
- Gross operating margin -€118,445
down €118,445 (-27.2%), from €435,498 to €317,053
- Financial income +€18,093
up €18,093 (+224.8%), from €8,047 to €26,140
- Taxes -€16,734
down €16,734 (-16.4%), from €101,753 to €85,019
- Financial charges +€5,857
up €5,857 (+916.7%), from €639 to €6,496
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 | €903,927 | €1,099,766 | +€195,838 | +21.7% |
| Fixed assets | 21/28 | €39,017 | €23,989 | -€15,029 | -38.5% |
| Tangible fixed assets | 22/27 | €39,017 | €23,989 | -€15,029 | -38.5% |
| Furniture and vehicles | 24 | €39,017 | €23,989 | -€15,029 | -38.5% |
| Current assets | 29/58 | €864,910 | €1,075,777 | +€210,867 | +24.4% |
| Amounts receivable within one year | 40/41 | €44,597 | €53,600 | +€9,003 | +20.2% |
| Trade receivables | 40 | €44,597 | €48,400 | +€3,803 | +8.5% |
| Other amounts receivable | 41 | - | €5,200 | +€5,200 | |
| Current investments | 50/53 | €423,533 | €804,095 | +€380,562 | +89.9% |
| Cash at bank and in hand | 54/58 | €370,780 | €216,837 | -€153,942 | -41.5% |
| Deferred charges and accrued income | 490/1 | €26,000 | €1,244 | -€24,756 | -95.2% |
| Total equity and liabilities | 10/49 | €903,927 | €1,099,766 | +€195,838 | +21.7% |
| Equity | 10/15 | €749,234 | €983,720 | +€234,486 | +31.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €745,234 | €979,720 | +€234,486 | +31.5% |
| Distributable reserves | 133 | €745,234 | €979,720 | +€234,486 | +31.5% |
| Amounts payable | 17/49 | €154,693 | €116,046 | -€38,647 | -25.0% |
| Amounts payable after more than one year | 17 | €32,590 | €20,367 | -€12,223 | -37.5% |
| Financial debts | 170/4 | €32,590 | €20,367 | -€12,223 | -37.5% |
| Amounts payable within one year | 42/48 | €122,104 | €93,821 | -€28,282 | -23.2% |
| Trade debts | 44 | €21,548 | €15,421 | -€6,127 | -28.4% |
| Suppliers | 440/4 | €21,548 | €15,421 | -€6,127 | -28.4% |
| Taxes, remuneration and social security | 45 | €99,339 | €78,400 | -€20,939 | -21.1% |
| Taxes | 450/3 | €99,339 | €78,400 | -€20,939 | -21.1% |
| Other amounts payable | 47/48 | €1,216 | - | -€1,216 | |
| Accrued charges and deferred income | 492/3 | - | €1,858 | +€1,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,102 | €16,792 | -€310 | -1.8% |
| Other operating charges | 640/8 | €69 | €400 | +€330 | +476.8% |
| Gross operating margin | 9900 | €435,498 | €317,053 | -€118,445 | -27.2% |
| Operating profit (loss) | 9901 | €418,327 | €299,861 | -€118,466 | -28.3% |
| Financial income | 75/76B | €8,047 | €26,140 | +€18,093 | +224.8% |
| Recurring financial income | 75 | €8,047 | €26,140 | +€18,093 | +224.8% |
| Financial charges | 65/66B | €639 | €6,496 | +€5,857 | +916.7% |
| Recurring financial charges | 65 | €639 | €6,496 | +€5,857 | +916.7% |
| Profit (loss) for the period before taxes | 9903 | €425,735 | €319,505 | -€106,230 | -25.0% |
| Income taxes | 67/77 | €101,753 | €85,019 | -€16,734 | -16.4% |
| Profit (loss) for the period | 9904 | €323,982 | €234,486 | -€89,496 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €323,982 | €234,486 | -€89,496 | -27.6% |
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 9 October 2026 via checked.be.