SECOGE: 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.
SECOGE
Largest movements
- Tangible fixed assets +€27,810
new in 2025: €27,810
- Receivables within one year -€19,778
down €19,778 (-25.2%), from €78,623 to €58,845
of which Trade receivables: -€17,633
- Debts after one year +€22,351
new in 2025: €22,351
- Tax, wage and social debts -€7,307
down €7,307 (-57.7%), from €12,655 to €5,348
- Profit (loss) carried forward -€6,766
down €6,766 (-27.1%), from €24,971 to €18,205
- Current portion of long-term debt +€6,231
new in 2025: €6,231
- Trade debts -€5,646
down €5,646 (-86.3%), from €6,541 to €895
- Gross operating margin -€18,209
down €18,209, from €16,805 to -€1,403
- Depreciation +€5,690
new in 2025: €5,690
- Taxes -€4,268
down €4,268 (-99.5%), from €4,290 to €22
- Financial charges +€1,614
up €1,614 (+266%), from €607 to €2,221
- Other operating charges -€1,266
down €1,266 (-67.2%), from €1,883 to €617
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,623 | €86,655 | +€8,031 | +10.2% |
| Fixed assets | 21/28 | - | €27,810 | +€27,810 | |
| Tangible fixed assets | 22/27 | - | €27,810 | +€27,810 | |
| Furniture and vehicles | 24 | - | €27,810 | +€27,810 | |
| Current assets | 29/58 | €78,623 | €58,845 | -€19,778 | -25.2% |
| Amounts receivable within one year | 40/41 | €78,623 | €58,845 | -€19,778 | -25.2% |
| Trade receivables | 40 | €17,633 | - | -€17,633 | |
| Other amounts receivable | 41 | €60,990 | €58,845 | -€2,145 | -3.5% |
| Total equity and liabilities | 10/49 | €78,623 | €86,655 | +€8,031 | +10.2% |
| Equity | 10/15 | €54,583 | €47,818 | -€6,766 | -12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,012 | €11,012 | = | 0.0% |
| Non-distributable reserves | 130/1 | €152 | €152 | = | 0.0% |
| Other | 1319 | €152 | €152 | = | 0.0% |
| Distributable reserves | 133 | €10,860 | €10,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,971 | €18,205 | -€6,766 | -27.1% |
| Amounts payable | 17/49 | €24,040 | €38,837 | +€14,797 | +61.6% |
| Amounts payable after more than one year | 17 | - | €22,351 | +€22,351 | |
| Financial debts | 170/4 | - | €22,351 | +€22,351 | |
| Amounts payable within one year | 42/48 | €24,040 | €16,485 | -€7,554 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | - | €6,231 | +€6,231 | |
| Financial debts | 43 | €4,844 | €4,012 | -€832 | -17.2% |
| Credit institutions | 430/8 | €4,844 | €4,012 | -€832 | -17.2% |
| Trade debts | 44 | €6,541 | €895 | -€5,646 | -86.3% |
| Suppliers | 440/4 | €6,541 | €895 | -€5,646 | -86.3% |
| Taxes, remuneration and social security | 45 | €12,655 | €5,348 | -€7,307 | -57.7% |
| Taxes | 450/3 | €12,655 | €5,348 | -€7,307 | -57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,690 | +€5,690 | |
| Other operating charges | 640/8 | €1,883 | €617 | -€1,266 | -67.2% |
| Non-recurring operating charges | 66A | - | €149 | +€149 | |
| Gross operating margin | 9900 | €16,805 | -€1,403 | -€18,209 | |
| Operating profit (loss) | 9901 | €14,923 | -€7,860 | -€22,782 | |
| Financial income | 75/76B | €3,079 | €3,337 | +€258 | +8.4% |
| Recurring financial income | 75 | €3,079 | €3,337 | +€258 | +8.4% |
| Financial charges | 65/66B | €607 | €2,221 | +€1,614 | +266% |
| Recurring financial charges | 65 | €607 | €2,221 | +€1,614 | +266% |
| Profit (loss) for the period before taxes | 9903 | €17,396 | -€6,743 | -€24,139 | |
| Income taxes | 67/77 | €4,290 | €22 | -€4,268 | -99.5% |
| Profit (loss) for the period | 9904 | €13,105 | -€6,766 | -€19,871 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,105 | -€6,766 | -€19,871 |
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 19 October 2026 via checked.be.