SECRA: what changed
Two fiscal 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.
What changed
SECRA
NACE 46.349, Wholesale of beverages, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€90,517
2024 · €62,946+€27,571
Equity
€1.0m
2024 · €913,971+€90,517
Cash
€103,688
2024 · €87,302+€16,387
Balance sheet total
€2.8m
2024 · €2.9m-€132,418
Largest movements
Assets
- Tangible fixed assets -€133,158
down €133,158 (-7.0%), from €1.9m to €1.8m
of which Land and buildings: -€95,276
- Stocks and contracts -€32,052
down €32,052 (-4.3%), from €749,081 to €717,029
Equity and liabilities
- Debts after one year -€148,968
down €148,968 (-10.1%), from €1.5m to €1.3m
- Reserves +€90,250
up €90,250 (+19.1%), from €472,420 to €562,670
of which Distributable reserves: +€90,250
- Trade debts -€67,209
down €67,209 (-44.1%), from €152,343 to €85,133
Income statement
- Gross operating margin +€19,180
up €19,180 (+5.1%), from €374,795 to €393,975
- Financial charges -€13,418
down €13,418 (-23.2%), from €57,784 to €44,366
- Staff costs -€11,627
down €11,627 (-11.9%), from €97,560 to €85,933
- Financial income -€3,956
down €3,956 (-67.2%), from €5,890 to €1,934
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.
Result 2024
€62,946
Gross operating margin
+€19,180
Staff costs
+€11,627
Depreciation
+€2,822
Other operating charges
-€137
Other operating items
-€11,901
Financial income
-€3,956
Financial charges
+€13,418
Taxes
-€3,482
Result 2025
€90,517
Cash bridge derived
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.
From operations
+€166,807
Investment
-€8,441
Financing
-€141,979
Cash 2024
€87,302
From operations (derived)
+€166,807
Net result for the year
+€90,517
Depreciation
+€142,501
Stocks and contracts
+€32,052
Receivables within one year
-€17,497
Deferred charges and accrued income
+€190
Trade debts
-€67,209
Tax, wage and social debts
+€11,609
Other debts
-€26,305
Accrued charges and deferred income
+€950
Investment (derived)
-€8,441
Investment in fixed assets (net)
-€8,441
Financing
-€141,979
Debts after one year
-€148,968
Current portion of long-term debt
+€6,989
Cash 2025
€103,688
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,923,263 | €2,790,845 | -€132,418 | -4.5% |
| Fixed assets | 21/28 | €1,891,646 | €1,757,587 | -€134,059 | -7.1% |
| Intangible fixed assets | 21 | €901 | - | -€901 | |
| Tangible fixed assets | 22/27 | €1,890,695 | €1,757,537 | -€133,158 | -7.0% |
| Land and buildings | 22 | €1,804,114 | €1,708,838 | -€95,276 | -5.3% |
| Plant, machinery and equipment | 23 | €42,992 | €29,038 | -€13,953 | -32.5% |
| Furniture and vehicles | 24 | €43,590 | €19,661 | -€23,929 | -54.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,031,617 | €1,033,258 | +€1,641 | +0.2% |
| Stocks and contracts in progress | 3 | €749,081 | €717,029 | -€32,052 | -4.3% |
| Stocks | 30/36 | €749,081 | €717,029 | -€32,052 | -4.3% |
| Amounts receivable within one year | 40/41 | €177,106 | €194,604 | +€17,497 | +9.9% |
| Trade receivables | 40 | €128,179 | €144,518 | +€16,338 | +12.7% |
| Other amounts receivable | 41 | €48,927 | €50,086 | +€1,159 | +2.4% |
| Cash at bank and in hand | 54/58 | €87,302 | €103,688 | +€16,387 | +18.8% |
| Deferred charges and accrued income | 490/1 | €18,128 | €17,938 | -€190 | -1.0% |
| Total equity and liabilities | 10/49 | €2,923,263 | €2,790,845 | -€132,418 | -4.5% |
| Equity | 10/15 | €913,971 | €1,004,488 | +€90,517 | +9.9% |
| Contributions | 10/11 | €441,511 | €441,511 | = | 0.0% |
| Reserves | 13 | €472,420 | €562,670 | +€90,250 | +19.1% |
| Tax-exempt reserves | 132 | €16,500 | €16,500 | = | 0.0% |
| Distributable reserves | 133 | €455,920 | €546,170 | +€90,250 | +19.8% |
| Profit (loss) carried forward | 14 | €39 | €306 | +€267 | +677.2% |
| Amounts payable | 17/49 | €2,009,293 | €1,786,358 | -€222,935 | -11.1% |
| Amounts payable after more than one year | 17 | €1,477,281 | €1,328,313 | -€148,968 | -10.1% |
| Financial debts | 170/4 | €1,477,281 | €1,328,313 | -€148,968 | -10.1% |
| Amounts payable within one year | 42/48 | €516,024 | €441,108 | -€74,917 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €137,588 | €144,576 | +€6,989 | +5.1% |
| Trade debts | 44 | €152,343 | €85,133 | -€67,209 | -44.1% |
| Suppliers | 440/4 | €152,343 | €85,133 | -€67,209 | -44.1% |
| Taxes, remuneration and social security | 45 | €20,517 | €32,126 | +€11,609 | +56.6% |
| Taxes | 450/3 | €12,479 | €23,647 | +€11,168 | +89.5% |
| Remuneration and social security | 454/9 | €8,038 | €8,480 | +€442 | +5.5% |
| Other amounts payable | 47/48 | €205,577 | €179,272 | -€26,305 | -12.8% |
| Accrued charges and deferred income | 492/3 | €15,987 | €16,937 | +€950 | +5.9% |
| Remuneration, social security and pensions | 62 | €97,560 | €85,933 | -€11,627 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,323 | €142,501 | -€2,822 | -1.9% |
| Other operating charges | 640/8 | €11,003 | €11,140 | +€137 | +1.2% |
| Non-recurring operating charges | 66A | - | €11,901 | +€11,901 | |
| Gross operating margin | 9900 | €374,795 | €393,975 | +€19,180 | +5.1% |
| Operating profit (loss) | 9901 | €120,909 | €142,500 | +€21,591 | +17.9% |
| Financial income | 75/76B | €5,890 | €1,934 | -€3,956 | -67.2% |
| Recurring financial income | 75 | €5,890 | €1,934 | -€3,956 | -67.2% |
| Financial charges | 65/66B | €57,784 | €44,366 | -€13,418 | -23.2% |
| Recurring financial charges | 65 | €57,784 | €44,366 | -€13,418 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €69,014 | €100,068 | +€31,054 | +45.0% |
| Income taxes | 67/77 | €6,069 | €9,551 | +€3,482 | +57.4% |
| Profit (loss) for the period | 9904 | €62,946 | €90,517 | +€27,571 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,946 | €90,517 | +€27,571 | +43.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.