SECO MANCO: 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.
SECO MANCO
Largest movements
- Cash -€107,454
down €107,454 (-29.2%), from €368,121 to €260,667
mainly Contributions, distributions and other (-€2.2m) and Smaller working-capital items (-€4,487)
- Profit (loss) carried forward -€102,967
down €102,967 (-4.6%), from €2.2m to €2.1m
- Financial income -€105,047
down €105,047 (-4.7%), from €2.2m to €2.1m
- Gross operating margin +€2,125
up €2,125 (+21.4%), from -€9,929 to -€7,804
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 | €2,328,064 | €2,221,233 | -€106,831 | -4.6% |
| Fixed assets | 21/28 | €1,959,200 | €1,959,200 | = | 0.0% |
| Financial fixed assets | 28 | €1,959,200 | €1,959,200 | = | 0.0% |
| Current assets | 29/58 | €368,864 | €262,033 | -€106,831 | -29.0% |
| Amounts receivable within one year | 40/41 | €308 | €997 | +€689 | +224% |
| Other amounts receivable | 41 | €308 | €997 | +€689 | +224% |
| Cash at bank and in hand | 54/58 | €368,121 | €260,667 | -€107,454 | -29.2% |
| Deferred charges and accrued income | 490/1 | €435 | €369 | -€66 | -15.2% |
| Total equity and liabilities | 10/49 | €2,328,064 | €2,221,233 | -€106,831 | -4.6% |
| Equity | 10/15 | €2,315,375 | €2,212,408 | -€102,967 | -4.4% |
| Contributions | 10/11 | €82,886 | €82,886 | = | 0.0% |
| Reserves | 13 | €8,940 | €8,940 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,940 | €8,940 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,940 | €8,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,223,549 | €2,120,583 | -€102,967 | -4.6% |
| Amounts payable | 17/49 | €12,689 | €8,825 | -€3,865 | -30.5% |
| Amounts payable within one year | 42/48 | €10,269 | €7,525 | -€2,745 | -26.7% |
| Trade debts | 44 | €6,577 | €3,832 | -€2,745 | -41.7% |
| Suppliers | 440/4 | €6,577 | €3,832 | -€2,745 | -41.7% |
| Other amounts payable | 47/48 | €3,693 | €3,693 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,420 | €1,300 | -€1,120 | -46.3% |
| Other operating charges | 640/8 | €968 | €1,016 | +€48 | +5.0% |
| Gross operating margin | 9900 | -€9,929 | -€7,804 | +€2,125 | +21.4% |
| Operating profit (loss) | 9901 | -€10,896 | -€8,820 | +€2,077 | +19.1% |
| Financial income | 75/76B | €2,234,556 | €2,129,509 | -€105,047 | -4.7% |
| Recurring financial income | 75 | €2,234,556 | €2,129,509 | -€105,047 | -4.7% |
| Financial charges | 65/66B | €110 | €106 | -€4 | -3.4% |
| Recurring financial charges | 65 | €110 | €106 | -€4 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €2,223,549 | €2,120,583 | -€102,967 | -4.6% |
| Profit (loss) for the period | 9904 | €2,223,549 | €2,120,583 | -€102,967 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,223,549 | €2,120,583 | -€102,967 | -4.6% |
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 24 October 2026 via checked.be.