SECRO: 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.
SECRO
Largest movements
- Receivables within one year +€5,203
up €5,203 (+25.8%), from €20,179 to €25,381
of which Other amounts receivable: +€6,059
- Tangible fixed assets +€1,267
up €1,267 (+160%), from €793 to €2,059
of which Furniture and vehicles: +€1,517
- Cash +€630
up €630 (+4.0%), from €15,838 to €16,468
mainly Net result for the year (+€5,290) and Tax, wage and social debts (+€2,946)
- Reserves +€5,224
up €5,224 (+45.0%), from €11,606 to €16,830
of which Distributable reserves: +€5,224
- Tax, wage and social debts +€2,946
up €2,946 (+80.0%), from €3,681 to €6,628
- Trade debts -€2,936
down €2,936 (-98.3%), from €2,987 to €51
- Other debts +€1,800
new in 2025: €1,800
- Depreciation -€7,548
down €7,548 (-91.8%), from €8,224 to €677
- Gross operating margin -€4,711
down €4,711 (-33.4%), from €14,122 to €9,411
- Taxes -€548
down €548 (-13.4%), from €4,077 to €3,530
- Other operating charges +€338
up €338 (+186%), from €182 to €520
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 | €36,809 | €43,909 | +€7,100 | +19.3% |
| Fixed assets | 21/28 | €793 | €2,059 | +€1,267 | +160% |
| Tangible fixed assets | 22/27 | €793 | €2,059 | +€1,267 | +160% |
| Plant, machinery and equipment | 23 | €251 | €0 | -€251 | -100% |
| Furniture and vehicles | 24 | €542 | €2,059 | +€1,517 | +280% |
| Current assets | 29/58 | €36,016 | €41,849 | +€5,833 | +16.2% |
| Amounts receivable within one year | 40/41 | €20,179 | €25,381 | +€5,203 | +25.8% |
| Trade receivables | 40 | €7,236 | €6,379 | -€857 | -11.8% |
| Other amounts receivable | 41 | €12,943 | €19,002 | +€6,059 | +46.8% |
| Cash at bank and in hand | 54/58 | €15,838 | €16,468 | +€630 | +4.0% |
| Total equity and liabilities | 10/49 | €36,809 | €43,909 | +€7,100 | +19.3% |
| Equity | 10/15 | €30,140 | €35,430 | +€5,290 | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,606 | €16,830 | +€5,224 | +45.0% |
| Tax-exempt reserves | 132 | €408 | €408 | = | 0.0% |
| Distributable reserves | 133 | €11,197 | €16,422 | +€5,224 | +46.7% |
| Profit (loss) carried forward | 14 | -€65 | - | +€65 | |
| Amounts payable | 17/49 | €6,669 | €8,479 | +€1,810 | +27.1% |
| Amounts payable within one year | 42/48 | €6,669 | €8,479 | +€1,810 | +27.1% |
| Trade debts | 44 | €2,987 | €51 | -€2,936 | -98.3% |
| Suppliers | 440/4 | €2,987 | €51 | -€2,936 | -98.3% |
| Taxes, remuneration and social security | 45 | €3,681 | €6,628 | +€2,946 | +80.0% |
| Taxes | 450/3 | €3,681 | €6,628 | +€2,946 | +80.0% |
| Other amounts payable | 47/48 | - | €1,800 | +€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,224 | €677 | -€7,548 | -91.8% |
| Other operating charges | 640/8 | €182 | €520 | +€338 | +186% |
| Gross operating margin | 9900 | €14,122 | €9,411 | -€4,711 | -33.4% |
| Operating profit (loss) | 9901 | €5,716 | €8,215 | +€2,498 | +43.7% |
| Financial income | 75/76B | €795 | €737 | -€59 | -7.4% |
| Recurring financial income | 75 | €795 | €737 | -€59 | -7.4% |
| Financial charges | 65/66B | - | €132 | +€132 | |
| Recurring financial charges | 65 | - | €132 | +€132 | |
| Profit (loss) for the period before taxes | 9903 | €6,512 | €8,819 | +€2,307 | +35.4% |
| Income taxes | 67/77 | €4,077 | €3,530 | -€548 | -13.4% |
| Profit (loss) for the period | 9904 | €2,434 | €5,290 | +€2,855 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €2,434 | €5,290 | +€2,855 | +117% |
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.