SECUVER: 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.
SECUVER
Largest movements
- Cash -€49,743
down €49,743 (-58.8%), from €84,540 to €34,797
mainly Investment in fixed assets (net) (-€51,334) and Receivables within one year (-€13,140)
- Tangible fixed assets +€46,089
up €46,089 (+671.0%), from €6,869 to €52,958
of which Furniture and vehicles: +€46,314
- Receivables within one year +€13,140
up €13,140 (+187.6%), from €7,006 to €20,146
of which Other amounts receivable: +€13,140
- Current investments +€5,000
up €5,000 (+10.9%), from €46,033 to €51,033
- Other debts +€13,040
up €13,040 (+659.1%), from €1,978 to €15,018
- Current portion of long-term debt +€12,468
new in 2025: €12,468
- Reserves -€10,100
down €10,100 (-8.3%), from €122,375 to €112,275
- Tax, wage and social debts -€7,765
down €7,765 (-82.2%), from €9,446 to €1,680
- Debts after one year +€7,445
new in 2025: €7,445
- Gross operating margin -€28,147
down €28,147 (-76.0%), from €37,013 to €8,866
- Taxes -€8,672
down €8,672 (-87.0%), from €9,971 to €1,299
- Depreciation +€3,860
up €3,860 (+278.7%), from €1,385 to €5,245
- Financial charges -€632
down €632 (-26.1%), from €2,419 to €1,786
- Financial income +€386
up €386 (+49.4%), from €780 to €1,166
of which Financial income: +€386
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 | €147,197 | €161,918 | +€14,720 | +10.0% |
| Fixed assets | 21/28 | €7,649 | €53,738 | +€46,089 | +602.5% |
| Tangible fixed assets | 22/27 | €6,869 | €52,958 | +€46,089 | +671.0% |
| Plant, machinery and equipment | 23 | €1,782 | €1,556 | -€225 | -12.6% |
| Furniture and vehicles | 24 | €5,087 | €51,402 | +€46,314 | +910.4% |
| Financial fixed assets | 28 | €780 | €780 | = | 0.0% |
| Current assets | 29/58 | €139,548 | €108,180 | -€31,369 | -22.5% |
| Amounts receivable within one year | 40/41 | €7,006 | €20,146 | +€13,140 | +187.6% |
| Trade receivables | 40 | €1,743 | €1,743 | = | 0.0% |
| Other amounts receivable | 41 | €5,263 | €18,404 | +€13,140 | +249.7% |
| Current investments | 50/53 | €46,033 | €51,033 | +€5,000 | +10.9% |
| Cash at bank and in hand | 54/58 | €84,540 | €34,797 | -€49,743 | -58.8% |
| Deferred charges and accrued income | 490/1 | €1,968 | €2,203 | +€234 | +11.9% |
| Total equity and liabilities | 10/49 | €147,197 | €161,918 | +€14,720 | +10.0% |
| Equity | 10/15 | €129,778 | €119,022 | -€10,756 | -8.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €122,375 | €112,275 | -€10,100 | -8.3% |
| Distributable reserves | 133 | €122,375 | €112,275 | -€10,100 | -8.3% |
| Profit (loss) carried forward | 14 | €6,903 | €6,247 | -€656 | -9.5% |
| Amounts payable | 17/49 | €17,420 | €42,896 | +€25,476 | +146.3% |
| Amounts payable after more than one year | 17 | - | €7,445 | +€7,445 | |
| Financial debts | 170/4 | - | €7,445 | +€7,445 | |
| Amounts payable within one year | 42/48 | €16,820 | €34,851 | +€18,031 | +107.2% |
| Current portion of amounts payable after more than one year | 42 | - | €12,468 | +€12,468 | |
| Financial debts | 43 | €4,183 | €0 | -€4,183 | -100.0% |
| Credit institutions | 430/8 | €4,183 | €0 | -€4,183 | -100.0% |
| Trade debts | 44 | €1,212 | €5,684 | +€4,472 | +369.0% |
| Suppliers | 440/4 | €1,212 | €5,684 | +€4,472 | +369.0% |
| Taxes, remuneration and social security | 45 | €9,446 | €1,680 | -€7,765 | -82.2% |
| Taxes | 450/3 | €9,446 | €1,680 | -€7,765 | -82.2% |
| Other amounts payable | 47/48 | €1,978 | €15,018 | +€13,040 | +659.1% |
| Accrued charges and deferred income | 492/3 | €600 | €600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,385 | €5,245 | +€3,860 | +278.7% |
| Other operating charges | 640/8 | €649 | €692 | +€43 | +6.7% |
| Gross operating margin | 9900 | €37,013 | €8,866 | -€28,147 | -76.0% |
| Operating profit (loss) | 9901 | €34,979 | €2,929 | -€32,050 | -91.6% |
| Financial income | 75/76B | €780 | €1,166 | +€386 | +49.4% |
| Recurring financial income | 75 | €780 | €1,166 | +€386 | +49.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,419 | €1,786 | -€632 | -26.1% |
| Recurring financial charges | 65 | €2,419 | €1,786 | -€632 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €33,341 | €2,309 | -€31,032 | -93.1% |
| Income taxes | 67/77 | €9,971 | €1,299 | -€8,672 | -87.0% |
| Profit (loss) for the period | 9904 | €23,370 | €1,010 | -€22,360 | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,370 | €1,010 | -€22,360 | -95.7% |
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 11 October 2026 via checked.be.