SECONET: 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.
SECONET
Largest movements
- Receivables within one year -€69,665
down €69,665 (-20.6%), from €338,319 to €268,653
of which Trade receivables: -€43,031
- Cash +€44,369
up €44,369 (+20.3%), from €218,189 to €262,558
mainly Tax, wage and social debts (+€213,128) and Receivables within one year (+€69,665)
- Tangible fixed assets +€18,973
up €18,973 (+15.2%), from €125,118 to €144,091
of which Furniture and vehicles: +€24,998
- Reserves -€223,225
down €223,225 (-29.4%), from €760,309 to €537,084
- Tax, wage and social debts +€213,128
up €213,128 (+225%), from €94,729 to €307,857
of which Remuneration and social security: +€187,258
- Gross operating margin -€31,952
down €31,952 (-3.2%), from €1.0m to €980,334
- Staff costs +€14,267
up €14,267 (+1.5%), from €952,655 to €966,923
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 | €691,778 | €678,628 | -€13,150 | -1.9% |
| Fixed assets | 21/28 | €127,170 | €146,143 | +€18,973 | +14.9% |
| Tangible fixed assets | 22/27 | €125,118 | €144,091 | +€18,973 | +15.2% |
| Land and buildings | 22 | €113,548 | €107,867 | -€5,682 | -5.0% |
| Plant, machinery and equipment | 23 | €723 | €379 | -€343 | -47.5% |
| Furniture and vehicles | 24 | €10,847 | €35,845 | +€24,998 | +230% |
| Financial fixed assets | 28 | €2,052 | €2,052 | = | 0.0% |
| Current assets | 29/58 | €564,608 | €532,485 | -€32,123 | -5.7% |
| Amounts receivable within one year | 40/41 | €338,319 | €268,653 | -€69,665 | -20.6% |
| Trade receivables | 40 | €199,775 | €156,744 | -€43,031 | -21.5% |
| Other amounts receivable | 41 | €138,544 | €111,910 | -€26,634 | -19.2% |
| Cash at bank and in hand | 54/58 | €218,189 | €262,558 | +€44,369 | +20.3% |
| Deferred charges and accrued income | 490/1 | €8,101 | €1,274 | -€6,827 | -84.3% |
| Total equity and liabilities | 10/49 | €691,778 | €678,628 | -€13,150 | -1.9% |
| Equity | 10/15 | €567,371 | €339,168 | -€228,202 | -40.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €760,309 | €537,084 | -€223,225 | -29.4% |
| Tax-exempt reserves | 132 | €760,309 | €537,084 | -€223,225 | -29.4% |
| Profit (loss) carried forward | 14 | -€212,939 | -€217,916 | -€4,977 | -2.3% |
| Amounts payable | 17/49 | €124,407 | €339,460 | +€215,053 | +173% |
| Amounts payable within one year | 42/48 | €124,407 | €339,460 | +€215,053 | +173% |
| Trade debts | 44 | €29,678 | €31,603 | +€1,925 | +6.5% |
| Suppliers | 440/4 | €29,678 | €31,603 | +€1,925 | +6.5% |
| Taxes, remuneration and social security | 45 | €94,729 | €307,857 | +€213,128 | +225% |
| Taxes | 450/3 | €33,485 | €59,355 | +€25,870 | +77.3% |
| Remuneration and social security | 454/9 | €61,244 | €248,502 | +€187,258 | +306% |
| Remuneration, social security and pensions | 62 | €952,655 | €966,923 | +€14,267 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,661 | €13,350 | -€1,311 | -8.9% |
| Other operating charges | 640/8 | €4,540 | €5,128 | +€588 | +13.0% |
| Non-recurring operating charges | 66A | - | €223,225 | +€223,225 | |
| Gross operating margin | 9900 | €1,012,286 | €980,334 | -€31,952 | -3.2% |
| Operating profit (loss) | 9901 | €40,430 | -€228,291 | -€268,722 | |
| Financial income | 75/76B | €485 | €663 | +€177 | +36.6% |
| Recurring financial income | 75 | €485 | €663 | +€177 | +36.6% |
| Financial charges | 65/66B | €730 | €574 | -€156 | -21.4% |
| Recurring financial charges | 65 | €730 | €574 | -€156 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €40,186 | -€228,202 | -€268,388 | |
| Profit (loss) for the period | 9904 | €40,186 | -€228,202 | -€268,388 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,186 | -€228,202 | -€268,388 |
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 15 October 2026 via checked.be.