SECUDEA: 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.
SECUDEA
Largest movements
- Current investments +€100,000
up €100,000 (+60.8%), from €164,417 to €264,417
- Cash -€95,404
down €95,404 (-39.7%), from €240,105 to €144,701
mainly Current investments (-€100,000) and Contributions, distributions and other (-€75,000)
- Receivables within one year +€23,512
up €23,512 (+35.3%), from €66,625 to €90,136
of which Other amounts receivable: +€39,997
- Tangible fixed assets +€12,176
up €12,176 (+30.9%), from €39,379 to €51,555
of which Land and buildings: +€22,101
- Profit (loss) carried forward +€30,203
up €30,203 (+89.2%), from €33,849 to €64,052
- Gross operating margin +€17,601
up €17,601 (+13.3%), from €132,793 to €150,394
- Taxes -€4,058
down €4,058 (-11.9%), from €34,131 to €30,073
- Other operating charges +€2,244
up €2,244 (+327.7%), from €685 to €2,928
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 | €553,979 | €586,803 | +€32,823 | +5.9% |
| Fixed assets | 21/28 | €39,879 | €52,055 | +€12,176 | +30.5% |
| Tangible fixed assets | 22/27 | €39,379 | €51,555 | +€12,176 | +30.9% |
| Land and buildings | 22 | €14,976 | €37,077 | +€22,101 | +147.6% |
| Plant, machinery and equipment | 23 | €24,403 | €14,477 | -€9,926 | -40.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €514,101 | €534,748 | +€20,647 | +4.0% |
| Amounts receivable after more than one year | 29 | €40,121 | €35,493 | -€4,628 | -11.5% |
| Other amounts receivable | 291 | €40,121 | €35,493 | -€4,628 | -11.5% |
| Amounts receivable within one year | 40/41 | €66,625 | €90,136 | +€23,512 | +35.3% |
| Trade receivables | 40 | €56,419 | €39,934 | -€16,485 | -29.2% |
| Other amounts receivable | 41 | €10,206 | €50,202 | +€39,997 | +391.9% |
| Current investments | 50/53 | €164,417 | €264,417 | +€100,000 | +60.8% |
| Cash at bank and in hand | 54/58 | €240,105 | €144,701 | -€95,404 | -39.7% |
| Deferred charges and accrued income | 490/1 | €2,833 | - | -€2,833 | |
| Total equity and liabilities | 10/49 | €553,979 | €586,803 | +€32,823 | +5.9% |
| Equity | 10/15 | €465,799 | €493,820 | +€28,021 | +6.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €413,400 | €411,219 | -€2,182 | -0.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,545 | €4,364 | -€2,182 | -33.3% |
| Distributable reserves | 133 | €405,000 | €405,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,849 | €64,052 | +€30,203 | +89.2% |
| Provisions and deferred taxes | 16 | €1,636 | €1,091 | -€545 | -33.3% |
| Deferred taxes | 168 | €1,636 | €1,091 | -€545 | -33.3% |
| Amounts payable | 17/49 | €86,544 | €91,891 | +€5,347 | +6.2% |
| Amounts payable within one year | 42/48 | €86,544 | €91,891 | +€5,347 | +6.2% |
| Trade debts | 44 | €2,552 | €8,385 | +€5,833 | +228.6% |
| Suppliers | 440/4 | €2,552 | €8,385 | +€5,833 | +228.6% |
| Taxes, remuneration and social security | 45 | €15,992 | €19,756 | +€3,764 | +23.5% |
| Taxes | 450/3 | €15,992 | €19,756 | +€3,764 | +23.5% |
| Other amounts payable | 47/48 | €68,000 | €63,750 | -€4,250 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,487 | €16,274 | -€213 | -1.3% |
| Other operating charges | 640/8 | €685 | €2,928 | +€2,244 | +327.7% |
| Gross operating margin | 9900 | €132,793 | €150,394 | +€17,601 | +13.3% |
| Operating profit (loss) | 9901 | €115,621 | €131,192 | +€15,571 | +13.5% |
| Financial income | 75/76B | €3,968 | €3,758 | -€211 | -5.3% |
| Recurring financial income | 75 | €3,968 | €3,758 | -€211 | -5.3% |
| Financial charges | 65/66B | €2,437 | €2,401 | -€36 | -1.5% |
| Recurring financial charges | 65 | €2,437 | €2,401 | -€36 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €117,152 | €132,548 | +€15,396 | +13.1% |
| Transfer from deferred taxes | 780 | €545 | €545 | = | 0.0% |
| Income taxes | 67/77 | €34,131 | €30,073 | -€4,058 | -11.9% |
| Profit (loss) for the period | 9904 | €83,567 | €103,021 | +€19,454 | +23.3% |
| Transfer from tax-exempt reserves | 789 | €2,182 | €2,182 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,749 | €105,203 | +€19,454 | +22.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.