SECOSA: what changed
SECOSA
Largest movements
- Receivables within one year +€3,282
up €3,282 (+26.8%), from €12,264 to €15,546
of which Other amounts receivable: +€2,716
- Cash -€2,526
down €2,526 (-50.1%), from €5,037 to €2,511
mainly Receivables within one year (-€3,282) and Net result for the year (-€192)
- Tangible fixed assets -€481
no longer reported in 2025 (was €481)
- Trade debts +€467
new in 2025: €467
- Profit (loss) carried forward -€192
down €192 (-5.7%), from -€3,351 to -€3,543
- Gross operating margin -€2,143
down €2,143 (-46.4%), from €4,621 to €2,478
- Other operating charges -€599
down €599 (-30.1%), from €1,988 to €1,389
- Taxes -€189
down €189 (-21.2%), from €890 to €701
- Depreciation -€180
down €180 (-27.2%), from €661 to €481
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,782 | €18,057 | +€275 | +1.5% |
| Fixed assets | 21/28 | €481 | - | -€481 | |
| Tangible fixed assets | 22/27 | €481 | - | -€481 | |
| Furniture and vehicles | 24 | €481 | - | -€481 | |
| Current assets | 29/58 | €17,301 | €18,057 | +€756 | +4.4% |
| Amounts receivable within one year | 40/41 | €12,264 | €15,546 | +€3,282 | +26.8% |
| Trade receivables | 40 | €5,029 | €5,595 | +€566 | +11.3% |
| Other amounts receivable | 41 | €7,235 | €9,951 | +€2,716 | +37.5% |
| Cash at bank and in hand | 54/58 | €5,037 | €2,511 | -€2,526 | -50.1% |
| Total equity and liabilities | 10/49 | €17,782 | €18,057 | +€275 | +1.5% |
| Equity | 10/15 | €17,109 | €16,917 | -€192 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,351 | -€3,543 | -€192 | -5.7% |
| Amounts payable | 17/49 | €673 | €1,140 | +€467 | +69.4% |
| Amounts payable within one year | 42/48 | - | €467 | +€467 | |
| Trade debts | 44 | - | €467 | +€467 | |
| Suppliers | 440/4 | - | €467 | +€467 | |
| Accrued charges and deferred income | 492/3 | €673 | €673 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €661 | €481 | -€180 | -27.2% |
| Other operating charges | 640/8 | €1,988 | €1,389 | -€599 | -30.1% |
| Gross operating margin | 9900 | €4,621 | €2,478 | -€2,143 | -46.4% |
| Operating profit (loss) | 9901 | €1,972 | €608 | -€1,364 | -69.2% |
| Financial charges | 65/66B | €98 | €99 | +€1 | +1.0% |
| Recurring financial charges | 65 | €98 | €99 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €1,874 | €509 | -€1,365 | -72.8% |
| Income taxes | 67/77 | €890 | €701 | -€189 | -21.2% |
| Profit (loss) for the period | 9904 | €984 | -€192 | -€1,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €984 | -€192 | -€1,176 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.