SECUB: 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.
SECUB
Largest movements
- Cash +€105,819
up €105,819 (+503.1%), from €21,033 to €126,853
mainly Net result for the year (+€74,468) and Tax, wage and social debts (+€17,275)
- Receivables within one year -€15,721
down €15,721 (-44.6%), from €35,241 to €19,521
of which Trade receivables: -€15,881
- Reserves +€74,468
up €74,468 (+231.5%), from €32,174 to €106,642
of which Non-distributable reserves: +€50,000
- Tax, wage and social debts +€17,275
up €17,275 (+84.6%), from €20,425 to €37,700
of which Taxes: +€13,775
- Other debts -€1,834
down €1,834 (-67.3%), from €2,725 to €891
- Gross operating margin +€61,210
up €61,210 (+141.1%), from €43,380 to €104,590
- Taxes +€18,269
up €18,269 (+207.6%), from €8,800 to €27,069
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,805 | €148,739 | +€88,934 | +148.7% |
| Fixed assets | 21/28 | €3,154 | €2,365 | -€788 | -25.0% |
| Tangible fixed assets | 22/27 | €3,154 | €2,365 | -€788 | -25.0% |
| Furniture and vehicles | 24 | €3,154 | €2,365 | -€788 | -25.0% |
| Current assets | 29/58 | €56,651 | €146,373 | +€89,722 | +158.4% |
| Amounts receivable within one year | 40/41 | €35,241 | €19,521 | -€15,721 | -44.6% |
| Trade receivables | 40 | €35,241 | €19,360 | -€15,881 | -45.1% |
| Other amounts receivable | 41 | - | €161 | +€161 | |
| Cash at bank and in hand | 54/58 | €21,033 | €126,853 | +€105,819 | +503.1% |
| Deferred charges and accrued income | 490/1 | €377 | - | -€377 | |
| Total equity and liabilities | 10/49 | €59,805 | €148,739 | +€88,934 | +148.7% |
| Equity | 10/15 | €35,174 | €109,642 | +€74,468 | +211.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,174 | €106,642 | +€74,468 | +231.5% |
| Non-distributable reserves | 130/1 | - | €50,000 | +€50,000 | |
| Other | 1319 | - | €50,000 | +€50,000 | |
| Distributable reserves | 133 | €32,174 | €56,642 | +€24,468 | +76.0% |
| Amounts payable | 17/49 | €24,631 | €39,097 | +€14,466 | +58.7% |
| Amounts payable within one year | 42/48 | €24,631 | €39,097 | +€14,466 | +58.7% |
| Trade debts | 44 | €1,481 | €506 | -€975 | -65.9% |
| Suppliers | 440/4 | €1,481 | €506 | -€975 | -65.9% |
| Taxes, remuneration and social security | 45 | €20,425 | €37,700 | +€17,275 | +84.6% |
| Taxes | 450/3 | €20,425 | €34,200 | +€13,775 | +67.4% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €2,725 | €891 | -€1,834 | -67.3% |
| Remuneration, social security and pensions | 62 | €1,210 | €1,850 | +€640 | +52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €788 | +€788 | |
| Other operating charges | 640/8 | €923 | €268 | -€655 | -71.0% |
| Non-recurring operating charges | 66A | €126 | €93 | -€33 | -26.0% |
| Gross operating margin | 9900 | €43,380 | €104,590 | +€61,210 | +141.1% |
| Operating profit (loss) | 9901 | €41,121 | €101,591 | +€60,469 | +147.1% |
| Financial income | 75/76B | €0 | €40 | +€40 | +16068.0% |
| Recurring financial income | 75 | €0 | €40 | +€40 | +16068.0% |
| Financial charges | 65/66B | €147 | €95 | -€52 | -35.6% |
| Recurring financial charges | 65 | €147 | €95 | -€52 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €40,974 | €101,536 | +€60,562 | +147.8% |
| Income taxes | 67/77 | €8,800 | €27,069 | +€18,269 | +207.6% |
| Profit (loss) for the period | 9904 | €32,174 | €74,468 | +€42,293 | +131.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,174 | €74,468 | +€42,293 | +131.5% |
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 12 October 2026 via checked.be.