SEDGE: 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.
SEDGE
Largest movements
- Cash +€12,777
up €12,777 (+47.0%), from €27,170 to €39,947
mainly Net result for the year (+€37,740) and Other debts (+€12,700)
- Receivables within one year +€5,607
up €5,607 (+37.4%), from €14,993 to €20,601
of which Trade receivables: +€3,898
- Profit (loss) carried forward +€19,644
up €19,644 (+45.3%), from €43,341 to €62,985
- Current portion of long-term debt -€18,252
down €18,252 (-100.0%), from €18,252 to €0
- Other debts +€12,700
up €12,700 (+12.5%), from €101,679 to €114,379
- Gross operating margin -€3,730
down €3,730 (-6.1%), from €61,217 to €57,488
- Financial charges +€2,297
up €2,297 (+43.5%), from €5,282 to €7,579
- Taxes -€2,034
down €2,034 (-16.5%), from €12,320 to €10,286
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 | €451,877 | €470,831 | +€18,954 | +4.2% |
| Fixed assets | 21/28 | €407,887 | €408,858 | +€972 | +0.2% |
| Tangible fixed assets | 22/27 | €2,923 | €3,895 | +€972 | +33.2% |
| Furniture and vehicles | 24 | €2,923 | €3,895 | +€972 | +33.2% |
| Financial fixed assets | 28 | €404,964 | €404,964 | = | 0.0% |
| Current assets | 29/58 | €43,990 | €61,973 | +€17,982 | +40.9% |
| Amounts receivable within one year | 40/41 | €14,993 | €20,601 | +€5,607 | +37.4% |
| Trade receivables | 40 | €14,988 | €18,887 | +€3,898 | +26.0% |
| Other amounts receivable | 41 | €5 | €1,714 | +€1,709 | +34669.0% |
| Cash at bank and in hand | 54/58 | €27,170 | €39,947 | +€12,777 | +47.0% |
| Deferred charges and accrued income | 490/1 | €1,827 | €1,425 | -€402 | -22.0% |
| Total equity and liabilities | 10/49 | €451,877 | €470,831 | +€18,954 | +4.2% |
| Equity | 10/15 | €317,423 | €337,163 | +€19,740 | +6.2% |
| Contributions | 10/11 | €201,071 | €201,071 | = | 0.0% |
| Capital | 10 | €201,071 | €201,071 | = | 0.0% |
| Issued capital | 100 | €201,071 | €201,071 | = | 0.0% |
| Reserves | 13 | €73,011 | €73,107 | +€96 | +0.1% |
| Non-distributable reserves | 130/1 | €2,011 | €20,107 | +€18,096 | +899.9% |
| Legal reserve | 130 | €2,011 | €20,107 | +€18,096 | +899.9% |
| Distributable reserves | 133 | €71,000 | €53,000 | -€18,000 | -25.4% |
| Profit (loss) carried forward | 14 | €43,341 | €62,985 | +€19,644 | +45.3% |
| Amounts payable | 17/49 | €134,455 | €133,668 | -€787 | -0.6% |
| Amounts payable within one year | 42/48 | €133,460 | €129,342 | -€4,118 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €18,252 | €0 | -€18,252 | -100.0% |
| Trade debts | 44 | €1,780 | €1,035 | -€744 | -41.8% |
| Suppliers | 440/4 | €1,780 | €1,035 | -€744 | -41.8% |
| Taxes, remuneration and social security | 45 | €11,748 | €13,927 | +€2,179 | +18.5% |
| Taxes | 450/3 | €11,748 | €13,927 | +€2,179 | +18.5% |
| Other amounts payable | 47/48 | €101,679 | €114,379 | +€12,700 | +12.5% |
| Accrued charges and deferred income | 492/3 | €995 | €4,326 | +€3,331 | +334.8% |
| Remuneration, social security and pensions | 62 | €163 | €420 | +€257 | +157.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,411 | €997 | -€414 | -29.3% |
| Other operating charges | 640/8 | €394 | €407 | +€13 | +3.4% |
| Non-recurring operating charges | 66A | - | €58 | +€58 | |
| Gross operating margin | 9900 | €61,217 | €57,488 | -€3,730 | -6.1% |
| Operating profit (loss) | 9901 | €59,249 | €55,605 | -€3,644 | -6.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €5,282 | €7,579 | +€2,297 | +43.5% |
| Recurring financial charges | 65 | €5,282 | €7,579 | +€2,297 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €53,967 | €48,026 | -€5,941 | -11.0% |
| Income taxes | 67/77 | €12,320 | €10,286 | -€2,034 | -16.5% |
| Profit (loss) for the period | 9904 | €41,647 | €37,740 | -€3,907 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,647 | €37,740 | -€3,907 | -9.4% |
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.