SEDACRIVITY: 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.
SEDACRIVITY
Largest movements
- Cash +€7,161
up €7,161 (+5.7%), from €124,740 to €131,901
mainly Net result for the year (+€29,519) and Depreciation (+€7,984)
- Tangible fixed assets -€6,814
down €6,814 (-18.1%), from €37,598 to €30,784
of which Land and buildings: -€6,941
- Other debts -€27,291
down €27,291 (-81.2%), from €33,618 to €6,327
- Reserves +€24,261
up €24,261 (+10.3%), from €236,162 to €260,423
- Trade debts +€5,663
up €5,663 (+27.8%), from €20,350 to €26,013
- Current portion of long-term debt -€4,653
down €4,653 (-100.0%), from €4,653 to €0
- Other operating charges +€41,653
up €41,653 (+4160.9%), from €1,001 to €42,654
- Write-downs -€41,603
new in 2025: -€41,603
- Gross operating margin -€15,190
down €15,190 (-22.0%), from €68,902 to €53,711
- Taxes -€5,245
down €5,245 (-26.2%), from €20,028 to €14,783
- Financial income -€2,429
down €2,429 (-57.1%), from €4,252 to €1,823
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 | €318,562 | €318,503 | -€60 | 0.0% |
| Fixed assets | 21/28 | €37,598 | €30,784 | -€6,814 | -18.1% |
| Tangible fixed assets | 22/27 | €37,598 | €30,784 | -€6,814 | -18.1% |
| Land and buildings | 22 | €36,428 | €29,487 | -€6,941 | -19.1% |
| Furniture and vehicles | 24 | €1,171 | €1,297 | +€127 | +10.8% |
| Current assets | 29/58 | €280,964 | €287,719 | +€6,755 | +2.4% |
| Amounts receivable within one year | 40/41 | €49,653 | €47,784 | -€1,870 | -3.8% |
| Trade receivables | 40 | €48,473 | €47,783 | -€690 | -1.4% |
| Other amounts receivable | 41 | €1,181 | €1 | -€1,180 | -99.9% |
| Current investments | 50/53 | €105,668 | €105,668 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €124,740 | €131,901 | +€7,161 | +5.7% |
| Deferred charges and accrued income | 490/1 | €903 | €2,366 | +€1,463 | +162.1% |
| Total equity and liabilities | 10/49 | €318,562 | €318,503 | -€60 | 0.0% |
| Equity | 10/15 | €248,562 | €272,823 | +€24,261 | +9.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €236,162 | €260,423 | +€24,261 | +10.3% |
| Distributable reserves | 133 | €236,162 | €260,423 | +€24,261 | +10.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,001 | €45,680 | -€24,321 | -34.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €69,981 | €45,680 | -€24,301 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €4,653 | €0 | -€4,653 | -100.0% |
| Trade debts | 44 | €20,350 | €26,013 | +€5,663 | +27.8% |
| Suppliers | 440/4 | €20,350 | €26,013 | +€5,663 | +27.8% |
| Taxes, remuneration and social security | 45 | €11,359 | €13,340 | +€1,980 | +17.4% |
| Taxes | 450/3 | €11,359 | €13,340 | +€1,980 | +17.4% |
| Other amounts payable | 47/48 | €33,618 | €6,327 | -€27,291 | -81.2% |
| Accrued charges and deferred income | 492/3 | €20 | €0 | -€20 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,981 | €7,984 | +€4 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€41,603 | -€41,603 | |
| Other operating charges | 640/8 | €1,001 | €42,654 | +€41,653 | +4160.9% |
| Gross operating margin | 9900 | €68,902 | €53,711 | -€15,190 | -22.0% |
| Operating profit (loss) | 9901 | €59,920 | €44,676 | -€15,244 | -25.4% |
| Financial income | 75/76B | €4,252 | €1,823 | -€2,429 | -57.1% |
| Recurring financial income | 75 | €4,252 | €1,823 | -€2,429 | -57.1% |
| Financial charges | 65/66B | €1,796 | €2,196 | +€400 | +22.3% |
| Recurring financial charges | 65 | €1,796 | €2,196 | +€400 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €62,376 | €44,302 | -€18,074 | -29.0% |
| Income taxes | 67/77 | €20,028 | €14,783 | -€5,245 | -26.2% |
| Profit (loss) for the period | 9904 | €42,348 | €29,519 | -€12,829 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,348 | €29,519 | -€12,829 | -30.3% |
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 6 October 2026 via checked.be.