SECITEL: 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.
SECITEL
Largest movements
- Tangible fixed assets +€172,968
up €172,968 (+312.6%), from €55,328 to €228,296
of which Land and buildings: +€144,498
- Cash +€124,027
up €124,027 (+152.2%), from €81,497 to €205,524
mainly Debts after one year (+€179,423) and Depreciation (+€42,818)
- Receivables within one year -€40,411
down €40,411 (-14.4%), from €280,012 to €239,601
of which Trade receivables: -€34,040
- Debts after one year +€179,423
up €179,423 (+251.7%), from €71,282 to €250,704
- Trade debts +€35,049
up €35,049 (+40.8%), from €85,936 to €120,986
- Current portion of long-term debt +€31,625
up €31,625 (+91.7%), from €34,489 to €66,114
- Profit (loss) carried forward +€12,599
up €12,599 (+8.3%), from €152,115 to €164,714
- Gross operating margin -€186,404
down €186,404 (-20.2%), from €921,913 to €735,509
- Staff costs -€145,227
down €145,227 (-19.3%), from €750,742 to €605,515
- Other operating charges +€31,257
up €31,257 (+1035.7%), from €3,018 to €34,275
- Depreciation +€16,978
up €16,978 (+65.7%), from €25,840 to €42,818
- Taxes -€13,331
down €13,331 (-66.8%), from €19,944 to €6,613
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 | €429,023 | €688,826 | +€259,803 | +60.6% |
| Fixed assets | 21/28 | €60,638 | €233,606 | +€172,968 | +285.2% |
| Tangible fixed assets | 22/27 | €55,328 | €228,296 | +€172,968 | +312.6% |
| Land and buildings | 22 | - | €144,498 | +€144,498 | |
| Plant, machinery and equipment | 23 | €22,432 | €15,741 | -€6,690 | -29.8% |
| Furniture and vehicles | 24 | €32,896 | €68,057 | +€35,160 | +106.9% |
| Financial fixed assets | 28 | €5,310 | €5,310 | = | 0.0% |
| Current assets | 29/58 | €368,385 | €455,220 | +€86,835 | +23.6% |
| Amounts receivable within one year | 40/41 | €280,012 | €239,601 | -€40,411 | -14.4% |
| Trade receivables | 40 | €259,958 | €225,917 | -€34,040 | -13.1% |
| Other amounts receivable | 41 | €20,054 | €13,684 | -€6,370 | -31.8% |
| Cash at bank and in hand | 54/58 | €81,497 | €205,524 | +€124,027 | +152.2% |
| Deferred charges and accrued income | 490/1 | €6,877 | €10,095 | +€3,218 | +46.8% |
| Total equity and liabilities | 10/49 | €429,023 | €688,826 | +€259,803 | +60.6% |
| Equity | 10/15 | €154,615 | €167,214 | +€12,599 | +8.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,115 | €164,714 | +€12,599 | +8.3% |
| Amounts payable | 17/49 | €274,408 | €521,612 | +€247,204 | +90.1% |
| Amounts payable after more than one year | 17 | €71,282 | €250,704 | +€179,423 | +251.7% |
| Financial debts | 170/4 | €71,282 | €250,704 | +€179,423 | +251.7% |
| Amounts payable within one year | 42/48 | €201,762 | €269,576 | +€67,814 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €34,489 | €66,114 | +€31,625 | +91.7% |
| Trade debts | 44 | €85,936 | €120,986 | +€35,049 | +40.8% |
| Suppliers | 440/4 | €85,936 | €120,986 | +€35,049 | +40.8% |
| Taxes, remuneration and social security | 45 | €79,287 | €79,548 | +€261 | +0.3% |
| Taxes | 450/3 | €19,944 | €17,558 | -€2,387 | -12.0% |
| Remuneration and social security | 454/9 | €59,343 | €61,990 | +€2,648 | +4.5% |
| Other amounts payable | 47/48 | €2,050 | €2,928 | +€879 | +42.9% |
| Accrued charges and deferred income | 492/3 | €1,365 | €1,332 | -€33 | -2.4% |
| Remuneration, social security and pensions | 62 | €750,742 | €605,515 | -€145,227 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,840 | €42,818 | +€16,978 | +65.7% |
| Other operating charges | 640/8 | €3,018 | €34,275 | +€31,257 | +1035.7% |
| Gross operating margin | 9900 | €921,913 | €735,509 | -€186,404 | -20.2% |
| Operating profit (loss) | 9901 | €142,313 | €52,902 | -€89,412 | -62.8% |
| Financial income | 75/76B | €1,414 | €91 | -€1,323 | -93.6% |
| Recurring financial income | 75 | €1,414 | €91 | -€1,323 | -93.6% |
| Financial charges | 65/66B | €45,710 | €33,780 | -€11,930 | -26.1% |
| Recurring financial charges | 65 | €45,710 | €33,433 | -€12,277 | -26.9% |
| Non-recurring financial charges | 66B | - | €347 | +€347 | |
| Profit (loss) for the period before taxes | 9903 | €98,017 | €19,213 | -€78,805 | -80.4% |
| Income taxes | 67/77 | €19,944 | €6,613 | -€13,331 | -66.8% |
| Profit (loss) for the period | 9904 | €78,073 | €12,599 | -€65,474 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,073 | €12,599 | -€65,474 | -83.9% |
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 11 October 2026 via checked.be.