SECUROAD: 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.
What changed
SECUROAD
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €2.4m-€848,863
Equity
€6.2m
2024 · €6.2m+€12,698
Cash
€1.2m
2024 · €1.2m-€55,588
Balance sheet total
€13.8m
2024 · €15.8m-€2.0m
Largest movements
Assets
- Receivables within one year -€1.8m
down €1.8m (-22.4%), from €8.0m to €6.2m
of which Other amounts receivable: -€2.1m
- Tangible fixed assets -€884,762
down €884,762 (-26.3%), from €3.4m to €2.5m
of which Plant, machinery and equipment: -€895,381
- Stocks and contracts +€839,984
up €839,984 (+29.0%), from €2.9m to €3.7m
Equity and liabilities
- Other debts -€775,000
down €775,000 (-34.1%), from €2.3m to €1.5m
- Advances received -€771,215
no longer reported in 2025 (was €771,215)
- Short-term financial debts +€749,032
up €749,032 (+221.8%), from €337,736 to €1.1m
- Debts after one year -€673,684
down €673,684 (-30.8%), from €2.2m to €1.5m
- Trade debts -€459,990
down €459,990 (-22.9%), from €2.0m to €1.5m
Income statement
- Goods and materials +€1.4m
up €1.4m (+27.8%), from €5.0m to €6.3m
of which Purchases: +€1.7m
- Turnover +€1.2m
up €1.2m (+8.0%), from €14.8m to €16.0m
- Staff costs +€333,706
up €333,706 (+15.7%), from €2.1m to €2.5m
- Depreciation +€322,817
up €322,817 (+26.9%), from €1.2m to €1.5m
- Services and other goods +€295,900
up €295,900 (+8.8%), from €3.4m to €3.7m
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.
Result 2024
€2.4m
Turnover
+€1.2m
Other operating income
+€56,642
Goods and materials
-€1.4m
Services and other goods
-€295,900
Staff costs
-€333,706
Depreciation
-€322,817
Write-downs
-€3,283
Provisions
-€23,530
Other operating charges
+€3,134
Other operating items
-€13,736
Financial income
+€134,333
Financial charges
-€123,993
Taxes
+€275,029
Result 2025
€1.5m
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.
From operations
+€1.9m
Investment
-€571,200
Financing
-€1.4m
Cash 2024
€1.2m
From operations (derived)
+€1.9m
Net result for the year
+€1.5m
Depreciation
+€1.5m
Stocks and contracts
-€839,984
Receivables within one year
+€1.8m
Deferred charges and accrued income
+€30,223
Provisions
+€8,322
Trade debts
-€459,990
Tax, wage and social debts
-€98,738
Advances received
-€771,215
Other debts
-€775,000
Accrued charges and deferred income
+€29,890
Investment (derived)
-€571,200
Investment in fixed assets (net)
-€571,200
Financing
-€1.4m
Debts after one year
-€673,684
Short-term financial debts
+€749,032
Contributions, distributions and other
-€1.5m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,773,240 | €13,794,555 | -€2.0m | -12.5% |
| Fixed assets | 21/28 | €3,545,018 | €2,592,256 | -€952,762 | -26.9% |
| Intangible fixed assets | 21 | €187,000 | €119,000 | -€68,000 | -36.4% |
| Tangible fixed assets | 22/27 | €3,358,018 | €2,473,256 | -€884,762 | -26.3% |
| Plant, machinery and equipment | 23 | €2,595,776 | €1,700,395 | -€895,381 | -34.5% |
| Furniture and vehicles | 24 | €762,242 | €772,861 | +€10,619 | +1.4% |
| Current assets | 29/58 | €12,228,222 | €11,202,299 | -€1.0m | -8.4% |
| Stocks and contracts in progress | 3 | €2,896,066 | €3,736,049 | +€839,984 | +29.0% |
| Stocks | 30/36 | €2,896,066 | €3,736,049 | +€839,984 | +29.0% |
| Goods purchased for resale | 34 | €2,896,066 | €3,736,049 | +€839,984 | +29.0% |
| Amounts receivable within one year | 40/41 | €7,951,450 | €6,171,355 | -€1.8m | -22.4% |
| Trade receivables | 40 | €4,594,192 | €4,870,762 | +€276,570 | +6.0% |
| Other amounts receivable | 41 | €3,357,258 | €1,300,593 | -€2.1m | -61.3% |
| Cash at bank and in hand | 54/58 | €1,235,817 | €1,180,229 | -€55,588 | -4.5% |
| Deferred charges and accrued income | 490/1 | €144,889 | €114,666 | -€30,223 | -20.9% |
| Total equity and liabilities | 10/49 | €15,773,240 | €13,794,555 | -€2.0m | -12.5% |
| Equity | 10/15 | €6,176,360 | €6,189,058 | +€12,698 | +0.2% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,626,360 | €5,639,058 | +€12,698 | +0.2% |
| Provisions and deferred taxes | 16 | €49,532 | €57,854 | +€8,322 | +16.8% |
| Provisions for liabilities and charges | 160/5 | €49,532 | €57,854 | +€8,322 | +16.8% |
| Other liabilities and charges | 164/5 | €49,532 | €57,854 | +€8,322 | +16.8% |
| Amounts payable | 17/49 | €9,547,348 | €7,547,643 | -€2.0m | -20.9% |
| Amounts payable after more than one year | 17 | €2,189,474 | €1,515,790 | -€673,684 | -30.8% |
| Financial debts | 170/4 | €2,189,474 | €1,515,790 | -€673,684 | -30.8% |
| Credit institutions | 173 | €2,189,474 | €1,515,790 | -€673,684 | -30.8% |
| Amounts payable within one year | 42/48 | €6,968,123 | €5,612,212 | -€1.4m | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €673,684 | €673,684 | = | 0.0% |
| Financial debts | 43 | €337,736 | €1,086,768 | +€749,032 | +221.8% |
| Credit institutions | 430/8 | €337,736 | €1,086,768 | +€749,032 | +221.8% |
| Trade debts | 44 | €2,005,006 | €1,545,016 | -€459,990 | -22.9% |
| Suppliers | 440/4 | €2,005,006 | €1,545,016 | -€459,990 | -22.9% |
| Advances received on contracts in progress | 46 | €771,215 | - | -€771,215 | |
| Taxes, remuneration and social security | 45 | €905,483 | €806,744 | -€98,738 | -10.9% |
| Taxes | 450/3 | €484,334 | €314,154 | -€170,181 | -35.1% |
| Remuneration and social security | 454/9 | €421,148 | €492,590 | +€71,442 | +17.0% |
| Other amounts payable | 47/48 | €2,275,000 | €1,500,000 | -€775,000 | -34.1% |
| Accrued charges and deferred income | 492/3 | €389,751 | €419,641 | +€29,890 | +7.7% |
| Operating income | 70/76A | €14,886,610 | €16,131,066 | +€1.2m | +8.4% |
| Turnover | 70 | €14,784,733 | €15,965,709 | +€1.2m | +8.0% |
| Other operating income | 74 | €98,909 | €155,551 | +€56,642 | +57.3% |
| Non-recurring operating income | 76A | €2,968 | €9,806 | +€6,839 | +230.4% |
| Operating charges | 60/66A | €11,675,455 | €14,054,143 | +€2.4m | +20.4% |
| Goods for resale, raw materials and consumables | 60 | €4,964,717 | €6,346,728 | +€1.4m | +27.8% |
| Purchases | 600/8 | €5,466,243 | €7,189,995 | +€1.7m | +31.5% |
| Change in stocks: decrease (increase) | 609 | -€501,526 | -€843,267 | -€341,741 | -68.1% |
| Services and other goods | 61 | €3,369,848 | €3,665,748 | +€295,900 | +8.8% |
| Remuneration, social security and pensions | 62 | €2,122,614 | €2,456,320 | +€333,706 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,201,145 | €1,523,962 | +€322,817 | +26.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,283 | +€3,283 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,209 | €8,322 | +€23,530 | |
| Other operating charges | 640/8 | €16,775 | €13,641 | -€3,134 | -18.7% |
| Non-recurring operating charges | 66A | €15,564 | €36,139 | +€20,575 | +132.2% |
| Operating profit (loss) | 9901 | €3,211,154 | €2,076,923 | -€1.1m | -35.3% |
| Financial income | 75/76B | €167,850 | €302,183 | +€134,333 | +80.0% |
| Recurring financial income | 75 | €167,850 | €302,183 | +€134,333 | +80.0% |
| Income from current assets | 751 | €133,493 | €54,860 | -€78,633 | -58.9% |
| Other financial income | 752/9 | €34,357 | €247,323 | +€212,966 | +619.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €157,761 | €281,755 | +€123,993 | +78.6% |
| Recurring financial charges | 65 | €157,761 | €281,755 | +€123,993 | +78.6% |
| Debt charges | 650 | €105,728 | €125,211 | +€19,483 | +18.4% |
| Other financial charges | 652/9 | €52,033 | €156,543 | +€104,510 | +200.9% |
| Profit (loss) for the period before taxes | 9903 | €3,221,243 | €2,097,351 | -€1.1m | -34.9% |
| Income taxes | 67/77 | €859,682 | €584,653 | -€275,029 | -32.0% |
| Taxes | 670/3 | €859,682 | €586,299 | -€273,383 | -31.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,646 | +€1,646 | |
| Profit (loss) for the period | 9904 | €2,361,561 | €1,512,698 | -€848,863 | -35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,361,561 | €1,512,698 | -€848,863 | -35.9% |
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.