SECURITIM: what changed
SECURITIM
Largest movements
- Receivables within one year -€42,173
down €42,173 (-75.2%), from €56,118 to €13,945
of which Trade receivables: -€44,453
- Cash +€7,704
up €7,704 (+36.7%), from €20,987 to €28,690
mainly Net result for the year (+€42,976) and Receivables within one year (+€42,173)
- Tangible fixed assets -€5,285
down €5,285 (-27.2%), from €19,439 to €14,154
of which Land and buildings: -€3,432
- Stocks and contracts -€4,884
down €4,884 (-39.0%), from €12,533 to €7,649
- Other debts -€72,817
down €72,817 (-55.1%), from €132,119 to €59,302
- Profit (loss) carried forward +€42,976
up €42,976 (+63.2%), from -€67,966 to -€24,990
- Tax, wage and social debts -€7,351
down €7,351 (-57.2%), from €12,860 to €5,509
of which Remuneration and social security: -€3,897
- Current portion of long-term debt -€4,913
no longer reported in 2025 (was €4,913)
- Trade debts -€2,103
down €2,103 (-69.0%), from €3,046 to €943
- Gross operating margin -€41,726
down €41,726 (-36.5%), from €114,411 to €72,685
- Staff costs -€39,595
down €39,595 (-68.2%), from €58,080 to €18,485
- Write-downs -€2,235
no longer reported in 2025 (was €2,235)
- Taxes +€1,380
new in 2025: €1,380
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,308 | €66,100 | -€44,208 | -40.1% |
| Fixed assets | 21/28 | €19,439 | €14,154 | -€5,285 | -27.2% |
| Tangible fixed assets | 22/27 | €19,439 | €14,154 | -€5,285 | -27.2% |
| Land and buildings | 22 | €12,677 | €9,245 | -€3,432 | -27.1% |
| Plant, machinery and equipment | 23 | €6,428 | €4,883 | -€1,545 | -24.0% |
| Furniture and vehicles | 24 | €334 | €26 | -€308 | -92.3% |
| Current assets | 29/58 | €90,869 | €51,946 | -€38,923 | -42.8% |
| Stocks and contracts in progress | 3 | €12,533 | €7,649 | -€4,884 | -39.0% |
| Stocks | 30/36 | €12,533 | €7,649 | -€4,884 | -39.0% |
| Amounts receivable within one year | 40/41 | €56,118 | €13,945 | -€42,173 | -75.2% |
| Trade receivables | 40 | €56,015 | €11,563 | -€44,453 | -79.4% |
| Other amounts receivable | 41 | €103 | €2,382 | +€2,279 | +2,217% |
| Cash at bank and in hand | 54/58 | €20,987 | €28,690 | +€7,704 | +36.7% |
| Deferred charges and accrued income | 490/1 | €1,231 | €1,662 | +€431 | +35.0% |
| Total equity and liabilities | 10/49 | €110,308 | €66,100 | -€44,208 | -40.1% |
| Equity | 10/15 | -€42,630 | €346 | +€42,976 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,136 | €19,136 | = | 0.0% |
| Non-distributable reserves | 130/1 | €504 | €504 | = | 0.0% |
| Reserves not available under the articles | 1311 | €504 | €504 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,916 | €12,916 | = | 0.0% |
| Distributable reserves | 133 | €5,716 | €5,716 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,966 | -€24,990 | +€42,976 | +63.2% |
| Amounts payable | 17/49 | €152,937 | €65,754 | -€87,184 | -57.0% |
| Amounts payable within one year | 42/48 | €152,937 | €65,754 | -€87,184 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €4,913 | - | -€4,913 | |
| Trade debts | 44 | €3,046 | €943 | -€2,103 | -69.0% |
| Suppliers | 440/4 | €3,046 | €943 | -€2,103 | -69.0% |
| Taxes, remuneration and social security | 45 | €12,860 | €5,509 | -€7,351 | -57.2% |
| Taxes | 450/3 | €4,834 | €1,380 | -€3,454 | -71.4% |
| Remuneration and social security | 454/9 | €8,026 | €4,129 | -€3,897 | -48.6% |
| Other amounts payable | 47/48 | €132,119 | €59,302 | -€72,817 | -55.1% |
| Remuneration, social security and pensions | 62 | €58,080 | €18,485 | -€39,595 | -68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,932 | €5,285 | +€353 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,235 | - | -€2,235 | |
| Other operating charges | 640/8 | €3,175 | €3,840 | +€666 | +21.0% |
| Non-recurring operating charges | 66A | €683 | - | -€683 | |
| Gross operating margin | 9900 | €114,411 | €72,685 | -€41,726 | -36.5% |
| Operating profit (loss) | 9901 | €45,307 | €45,075 | -€232 | -0.5% |
| Financial income | 75/76B | €60 | €8 | -€52 | -86.7% |
| Recurring financial income | 75 | €60 | €8 | -€52 | -86.7% |
| Financial charges | 65/66B | €705 | €727 | +€22 | +3.1% |
| Recurring financial charges | 65 | €705 | €727 | +€22 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €44,661 | €44,356 | -€305 | -0.7% |
| Income taxes | 67/77 | - | €1,380 | +€1,380 | |
| Profit (loss) for the period | 9904 | €44,661 | €42,976 | -€1,685 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,661 | €42,976 | -€1,685 | -3.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.