SECUFIRE: 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.
SECUFIRE
Largest movements
- Cash +€20,430
up €20,430 (+499%), from €4,093 to €24,523
mainly Net result for the year (+€43,722) and Tax, wage and social debts (+€2,814)
- Stocks and contracts +€6,563
up €6,563 (+210%), from €3,121 to €9,684
- Receivables within one year -€2,551
down €2,551 (-51.7%), from €4,938 to €2,387
of which Trade receivables: -€2,026
- Tangible fixed assets +€2,523
new in 2025: €2,523
of which Other tangible fixed assets: +€1,713
- Intangible fixed assets -€1,129
down €1,129 (-26.4%), from €4,280 to €3,151
- Profit (loss) carried forward +€43,722
up €43,722 (+87.2%), from -€50,151 to -€6,429
- Other debts -€18,341
down €18,341 (-74.0%), from €24,783 to €6,442
- Tax, wage and social debts +€2,814
up €2,814 (+35,759%), from €8 to €2,822
of which Taxes: +€2,822
- Accrued charges and deferred income -€2,624
no longer reported in 2025 (was €2,624)
- Trade debts +€826
up €826 (+18.5%), from €4,468 to €5,294
- Gross operating margin +€83,650
up €83,650 (+49,650%), from €168 to €83,818
- Staff costs +€20,079
up €20,079 (+110%), from €18,299 to €38,377
- Depreciation +€1,286
up €1,286 (+547%), from €235 to €1,521
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 | €16,433 | €42,830 | +€26,397 | +161% |
| Fixed assets | 21/28 | €4,280 | €5,674 | +€1,394 | +32.6% |
| Intangible fixed assets | 21 | €4,280 | €3,151 | -€1,129 | -26.4% |
| Tangible fixed assets | 22/27 | - | €2,523 | +€2,523 | |
| Furniture and vehicles | 24 | - | €810 | +€810 | |
| Other tangible fixed assets | 26 | - | €1,713 | +€1,713 | |
| Current assets | 29/58 | €12,153 | €37,156 | +€25,003 | +206% |
| Stocks and contracts in progress | 3 | €3,121 | €9,684 | +€6,563 | +210% |
| Stocks | 30/36 | €3,121 | €9,684 | +€6,563 | +210% |
| Amounts receivable within one year | 40/41 | €4,938 | €2,387 | -€2,551 | -51.7% |
| Trade receivables | 40 | €4,413 | €2,387 | -€2,026 | -45.9% |
| Other amounts receivable | 41 | €525 | - | -€525 | |
| Cash at bank and in hand | 54/58 | €4,093 | €24,523 | +€20,430 | +499% |
| Deferred charges and accrued income | 490/1 | - | €562 | +€562 | |
| Total equity and liabilities | 10/49 | €16,433 | €42,830 | +€26,397 | +161% |
| Equity | 10/15 | -€15,450 | €28,272 | +€43,722 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €16,109 | €16,109 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,250 | €14,250 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,151 | -€6,429 | +€43,722 | +87.2% |
| Amounts payable | 17/49 | €31,883 | €14,558 | -€17,325 | -54.3% |
| Amounts payable within one year | 42/48 | €29,259 | €14,558 | -€14,701 | -50.2% |
| Trade debts | 44 | €4,468 | €5,294 | +€826 | +18.5% |
| Suppliers | 440/4 | €4,468 | €5,294 | +€826 | +18.5% |
| Taxes, remuneration and social security | 45 | €8 | €2,822 | +€2,814 | +35,759% |
| Taxes | 450/3 | - | €2,822 | +€2,822 | |
| Remuneration and social security | 454/9 | €8 | - | -€8 | |
| Other amounts payable | 47/48 | €24,783 | €6,442 | -€18,341 | -74.0% |
| Accrued charges and deferred income | 492/3 | €2,624 | - | -€2,624 | |
| Remuneration, social security and pensions | 62 | €18,299 | €38,377 | +€20,079 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235 | €1,521 | +€1,286 | +547% |
| Gross operating margin | 9900 | €168 | €83,818 | +€83,650 | +49,650% |
| Operating profit (loss) | 9901 | -€18,365 | €43,920 | +€62,285 | |
| Financial charges | 65/66B | €269 | €197 | -€71 | -26.6% |
| Recurring financial charges | 65 | €269 | €197 | -€71 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | -€18,634 | €43,722 | +€62,356 | |
| Profit (loss) for the period | 9904 | -€18,634 | €43,722 | +€62,356 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,634 | €43,722 | +€62,356 |
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 18 October 2026 via checked.be.