SECUMATIC: 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.
SECUMATIC
Largest movements
- Cash +€602,221
up €602,221 (+109.9%), from €548,145 to €1.2m
mainly Current investments (+€348,431) and Net result for the year (+€168,156)
- Current investments -€348,431
down €348,431 (-83.1%), from €419,158 to €70,727
- Receivables within one year -€68,530
down €68,530 (-35.1%), from €195,282 to €126,752
of which Trade receivables: -€65,476
- Reserves +€168,156
up €168,156 (+14.2%), from €1.2m to €1.4m
of which Distributable reserves: +€1.3m
- Tax, wage and social debts +€31,490
up €31,490 (+107.5%), from €29,303 to €60,794
of which Taxes: +€29,390
- Gross operating margin +€72,051
up €72,051 (+20.1%), from €358,251 to €430,302
- Taxes +€17,463
up €17,463 (+27.3%), from €63,876 to €81,339
- Financial income -€15,155
down €15,155 (-69.0%), from €21,967 to €6,812
- Depreciation -€10,642
down €10,642 (-27.8%), from €38,297 to €27,656
- Financial charges +€10,349
up €10,349 (+398.1%), from €2,600 to €12,949
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 | €1,316,744 | €1,502,461 | +€185,718 | +14.1% |
| Fixed assets | 21/28 | €134,431 | €142,999 | +€8,568 | +6.4% |
| Tangible fixed assets | 22/27 | €134,381 | €142,949 | +€8,568 | +6.4% |
| Land and buildings | 22 | €1,627 | €1,479 | -€148 | -9.1% |
| Plant, machinery and equipment | 23 | €61,295 | €49,012 | -€12,282 | -20.0% |
| Furniture and vehicles | 24 | €71,459 | €92,457 | +€20,998 | +29.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,182,313 | €1,359,463 | +€177,150 | +15.0% |
| Stocks and contracts in progress | 3 | €6,523 | €10,355 | +€3,832 | +58.7% |
| Stocks | 30/36 | €6,523 | €10,355 | +€3,832 | +58.7% |
| Amounts receivable within one year | 40/41 | €195,282 | €126,752 | -€68,530 | -35.1% |
| Trade receivables | 40 | €165,572 | €100,096 | -€65,476 | -39.5% |
| Other amounts receivable | 41 | €29,710 | €26,657 | -€3,053 | -10.3% |
| Current investments | 50/53 | €419,158 | €70,727 | -€348,431 | -83.1% |
| Cash at bank and in hand | 54/58 | €548,145 | €1,150,366 | +€602,221 | +109.9% |
| Deferred charges and accrued income | 490/1 | €13,205 | €1,262 | -€11,943 | -90.4% |
| Total equity and liabilities | 10/49 | €1,316,744 | €1,502,461 | +€185,718 | +14.1% |
| Equity | 10/15 | €1,204,659 | €1,372,815 | +€168,156 | +14.0% |
| Contributions | 10/11 | €20,472 | €20,472 | = | 0.0% |
| Outside capital | 11 | €20,472 | - | -€20,472 | |
| Other | 1109/19 | €20,472 | - | -€20,472 | |
| Reserves | 13 | €1,184,187 | €1,352,343 | +€168,156 | +14.2% |
| Non-distributable reserves | 130/1 | €1,106,445 | - | -€1.1m | |
| Reserves not available under the articles | 1311 | €1,106,445 | - | -€1.1m | |
| Distributable reserves | 133 | €77,742 | €1,352,343 | +€1.3m | +1639.5% |
| Amounts payable | 17/49 | €112,085 | €129,646 | +€17,562 | +15.7% |
| Amounts payable after more than one year | 17 | €1,002 | €0 | -€1,002 | -100.0% |
| Financial debts | 170/4 | €1,002 | €0 | -€1,002 | -100.0% |
| Amounts payable within one year | 42/48 | €111,082 | €129,646 | +€18,564 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €5,520 | €941 | -€4,579 | -83.0% |
| Financial debts | 43 | - | €377 | +€377 | |
| Credit institutions | 430/8 | - | €377 | +€377 | |
| Trade debts | 44 | €74,774 | €66,169 | -€8,605 | -11.5% |
| Suppliers | 440/4 | €74,774 | €66,169 | -€8,605 | -11.5% |
| Taxes, remuneration and social security | 45 | €29,303 | €60,794 | +€31,490 | +107.5% |
| Taxes | 450/3 | €14,065 | €43,455 | +€29,390 | +209.0% |
| Remuneration and social security | 454/9 | €15,238 | €17,338 | +€2,100 | +13.8% |
| Other amounts payable | 47/48 | €1,484 | €1,366 | -€118 | -8.0% |
| Remuneration, social security and pensions | 62 | €119,384 | €124,215 | +€4,831 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,297 | €27,656 | -€10,642 | -27.8% |
| Other operating charges | 640/8 | €6,335 | €2,022 | -€4,313 | -68.1% |
| Non-recurring operating charges | 66A | €9,074 | €20,777 | +€11,703 | +129.0% |
| Gross operating margin | 9900 | €358,251 | €430,302 | +€72,051 | +20.1% |
| Operating profit (loss) | 9901 | €185,161 | €255,632 | +€70,471 | +38.1% |
| Financial income | 75/76B | €21,967 | €6,812 | -€15,155 | -69.0% |
| Recurring financial income | 75 | €21,967 | €6,812 | -€15,155 | -69.0% |
| Financial charges | 65/66B | €2,600 | €12,949 | +€10,349 | +398.1% |
| Recurring financial charges | 65 | €2,600 | €12,949 | +€10,349 | +398.1% |
| Profit (loss) for the period before taxes | 9903 | €204,528 | €249,495 | +€44,967 | +22.0% |
| Income taxes | 67/77 | €63,876 | €81,339 | +€17,463 | +27.3% |
| Profit (loss) for the period | 9904 | €140,653 | €168,156 | +€27,504 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €140,653 | €168,156 | +€27,504 | +19.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.