SECMACON: 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.
SECMACON
Largest movements
- Tangible fixed assets +€75,385
up €75,385 (+1,077%), from €6,997 to €82,382
- Cash -€12,125
down €12,125 (-1.6%), from €759,403 to €747,278
mainly Investment in fixed assets (net) (-€83,527) and Other debts (-€17,313)
- Reserves +€81,223
up €81,223 (+13.2%), from €613,767 to €694,990
of which Distributable reserves: +€81,223
- Other debts -€17,313
down €17,313 (-32.5%), from €53,240 to €35,927
- Gross operating margin +€18,794
up €18,794 (+18.9%), from €99,256 to €118,050
- Depreciation +€5,659
up €5,659 (+228%), from €2,482 to €8,142
- Taxes +€2,911
up €2,911 (+10.5%), from €27,792 to €30,703
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.
Derived cash bridge
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 | €795,894 | €864,852 | +€68,958 | +8.7% |
| Fixed assets | 21/28 | €6,997 | €82,382 | +€75,385 | +1,077% |
| Tangible fixed assets | 22/27 | €6,997 | €82,382 | +€75,385 | +1,077% |
| Furniture and vehicles | 24 | €6,997 | €82,382 | +€75,385 | +1,077% |
| Current assets | 29/58 | €788,897 | €782,470 | -€6,427 | -0.8% |
| Amounts receivable within one year | 40/41 | €28,641 | €33,891 | +€5,250 | +18.3% |
| Trade receivables | 40 | €28,641 | €33,891 | +€5,250 | +18.3% |
| Cash at bank and in hand | 54/58 | €759,403 | €747,278 | -€12,125 | -1.6% |
| Deferred charges and accrued income | 490/1 | €853 | €1,301 | +€447 | +52.4% |
| Total equity and liabilities | 10/49 | €795,894 | €864,852 | +€68,958 | +8.7% |
| Equity | 10/15 | €715,415 | €796,638 | +€81,223 | +11.4% |
| Contributions | 10/11 | €101,648 | €101,648 | = | 0.0% |
| Reserves | 13 | €613,767 | €694,990 | +€81,223 | +13.2% |
| Non-distributable reserves | 130/1 | €10,785 | €10,785 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,785 | €10,785 | = | 0.0% |
| Distributable reserves | 133 | €602,982 | €684,205 | +€81,223 | +13.5% |
| Amounts payable | 17/49 | €80,479 | €68,214 | -€12,265 | -15.2% |
| Amounts payable within one year | 42/48 | €80,479 | €68,214 | -€12,265 | -15.2% |
| Trade debts | 44 | €508 | €2,231 | +€1,723 | +339% |
| Suppliers | 440/4 | €508 | €2,231 | +€1,723 | +339% |
| Taxes, remuneration and social security | 45 | €26,731 | €30,056 | +€3,325 | +12.4% |
| Taxes | 450/3 | €26,731 | €30,056 | +€3,325 | +12.4% |
| Other amounts payable | 47/48 | €53,240 | €35,927 | -€17,313 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,482 | €8,142 | +€5,659 | +228% |
| Other operating charges | 640/8 | €972 | €970 | -€1 | -0.1% |
| Gross operating margin | 9900 | €99,256 | €118,050 | +€18,794 | +18.9% |
| Operating profit (loss) | 9901 | €95,802 | €108,938 | +€13,136 | +13.7% |
| Financial income | 75/76B | €3,181 | €3,305 | +€125 | +3.9% |
| Recurring financial income | 75 | €3,181 | €3,305 | +€125 | +3.9% |
| Financial charges | 65/66B | €228 | €317 | +€89 | +39.2% |
| Recurring financial charges | 65 | €228 | €317 | +€89 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €98,755 | €111,927 | +€13,171 | +13.3% |
| Income taxes | 67/77 | €27,792 | €30,703 | +€2,911 | +10.5% |
| Profit (loss) for the period | 9904 | €70,963 | €81,223 | +€10,260 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,963 | €81,223 | +€10,260 | +14.5% |
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 25 October 2026 via checked.be.