SECTHOR CONSULTING: 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.
SECTHOR CONSULTING
Largest movements
- Cash +€54,053
up €54,053 (+97.8%), from €55,253 to €109,306
mainly Net result for the year (+€92,862) and Depreciation (+€29,265)
- Tangible fixed assets -€28,865
down €28,865 (-5.8%), from €498,713 to €469,848
of which Land and buildings: -€24,778
- Receivables within one year -€27,646
down €27,646 (-36.8%), from €75,039 to €47,393
- Receivables after one year +€18,000
new in 2025: €18,000
- Debts after one year -€31,806
down €31,806 (-15.9%), from €199,811 to €168,005
- Reserves +€20,800
up €20,800 (+6.9%), from €302,360 to €323,160
- Tax, wage and social debts +€13,044
up €13,044 (+46.3%), from €28,193 to €41,237
- Other debts +€12,748
up €12,748 (+18.8%), from €67,965 to €80,713
- Gross operating margin +€20,922
up €20,922 (+14.3%), from €146,284 to €167,206
- Taxes +€7,725
up €7,725 (+24.5%), from €31,527 to €39,252
- Financial charges -€1,719
down €1,719 (-28.8%), from €5,965 to €4,246
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 | €646,422 | €661,964 | +€15,542 | +2.4% |
| Fixed assets | 21/28 | €508,719 | €479,854 | -€28,865 | -5.7% |
| Tangible fixed assets | 22/27 | €498,713 | €469,848 | -€28,865 | -5.8% |
| Land and buildings | 22 | €484,214 | €459,436 | -€24,778 | -5.1% |
| Furniture and vehicles | 24 | €7,109 | €4,289 | -€2,820 | -39.7% |
| Other tangible fixed assets | 26 | €7,390 | €6,123 | -€1,267 | -17.1% |
| Financial fixed assets | 28 | €10,006 | €10,006 | = | 0.0% |
| Current assets | 29/58 | €137,703 | €182,110 | +€44,407 | +32.2% |
| Amounts receivable after more than one year | 29 | - | €18,000 | +€18,000 | |
| Other amounts receivable | 291 | - | €18,000 | +€18,000 | |
| Amounts receivable within one year | 40/41 | €75,039 | €47,393 | -€27,646 | -36.8% |
| Trade receivables | 40 | €75,039 | €47,393 | -€27,646 | -36.8% |
| Current investments | 50/53 | €7,410 | €7,410 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,253 | €109,306 | +€54,053 | +97.8% |
| Total equity and liabilities | 10/49 | €646,422 | €661,964 | +€15,542 | +2.4% |
| Equity | 10/15 | €318,820 | €339,682 | +€20,862 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €302,360 | €323,160 | +€20,800 | +6.9% |
| Distributable reserves | 133 | €302,360 | €323,160 | +€20,800 | +6.9% |
| Profit (loss) carried forward | 14 | €10,260 | €10,322 | +€62 | +0.6% |
| Amounts payable | 17/49 | €327,602 | €322,281 | -€5,320 | -1.6% |
| Amounts payable after more than one year | 17 | €199,811 | €168,005 | -€31,806 | -15.9% |
| Financial debts | 170/4 | €199,811 | €168,005 | -€31,806 | -15.9% |
| Amounts payable within one year | 42/48 | €127,791 | €154,277 | +€26,486 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €31,319 | €31,806 | +€487 | +1.6% |
| Trade debts | 44 | €314 | €521 | +€207 | +65.7% |
| Suppliers | 440/4 | €314 | €521 | +€207 | +65.7% |
| Taxes, remuneration and social security | 45 | €28,193 | €41,237 | +€13,044 | +46.3% |
| Taxes | 450/3 | €28,193 | €41,237 | +€13,044 | +46.3% |
| Other amounts payable | 47/48 | €67,965 | €80,713 | +€12,748 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,450 | €29,265 | -€1,185 | -3.9% |
| Other operating charges | 640/8 | €2,521 | €2,292 | -€229 | -9.1% |
| Non-recurring operating charges | 66A | €1,368 | - | -€1,368 | |
| Gross operating margin | 9900 | €146,284 | €167,206 | +€20,922 | +14.3% |
| Operating profit (loss) | 9901 | €111,945 | €135,649 | +€23,704 | +21.2% |
| Financial income | 75/76B | €327 | €710 | +€384 | +117% |
| Recurring financial income | 75 | €327 | €710 | +€384 | +117% |
| Financial charges | 65/66B | €5,965 | €4,246 | -€1,719 | -28.8% |
| Recurring financial charges | 65 | €5,965 | €4,246 | -€1,719 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €106,308 | €132,114 | +€25,806 | +24.3% |
| Income taxes | 67/77 | €31,527 | €39,252 | +€7,725 | +24.5% |
| Profit (loss) for the period | 9904 | €74,781 | €92,862 | +€18,081 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,781 | €92,862 | +€18,081 | +24.2% |
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 24 October 2026 via checked.be.