SEDIAAL: 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.
SEDIAAL
Largest movements
- Financial fixed assets -€687,231
down €687,231 (-12.7%), from €5.4m to €4.7m
- Receivables within one year -€100,422
down €100,422 (-99.9%), from €100,512 to €90
of which Other amounts receivable: -€99,230
- Debts after one year -€707,483
down €707,483 (-100%), from €707,483 to €0
- Accrued charges and deferred income -€486,328
down €486,328 (-99.9%), from €486,623 to €295
- Reserves +€407,828
up €407,828 (+10.3%), from €3.9m to €4.4m
of which Distributable reserves: +€407,828
- Tax, wage and social debts -€325,678
down €325,678 (-84.7%), from €384,624 to €58,946
of which Taxes: -€310,678
- Other debts +€300,000
up €300,000, from €0 to €300,000
- Financial income -€2.9m
down €2.9m (-68.4%), from €4.3m to €1.4m
- Taxes -€684,548
down €684,548 (-71.6%), from €955,766 to €271,218
- Financial charges +€261,831
up €261,831 (+341%), from €76,672 to €338,503
of which Financial charges: +€264,839
- Gross operating margin +€38,203
up €38,203 (+49.7%), from -€76,844 to -€38,641
- Other operating charges -€16,601
down €16,601 (-88.1%), from €18,853 to €2,251
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.
Derived cash bridge
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 | €5,584,834 | €4,774,911 | -€809,923 | -14.5% |
| Fixed assets | 21/28 | €5,414,068 | €4,723,303 | -€690,765 | -12.8% |
| Tangible fixed assets | 22/27 | €3,587 | €52 | -€3,534 | -98.5% |
| Furniture and vehicles | 24 | €202 | €52 | -€150 | -74.2% |
| Other tangible fixed assets | 26 | €3,384 | €0 | -€3,384 | -100% |
| Financial fixed assets | 28 | €5,410,482 | €4,723,251 | -€687,231 | -12.7% |
| Current assets | 29/58 | €170,766 | €51,608 | -€119,158 | -69.8% |
| Amounts receivable within one year | 40/41 | €100,512 | €90 | -€100,422 | -99.9% |
| Trade receivables | 40 | €1,192 | €0 | -€1,192 | -100% |
| Other amounts receivable | 41 | €99,320 | €90 | -€99,230 | -99.9% |
| Current investments | 50/53 | €46,131 | €38,377 | -€7,754 | -16.8% |
| Cash at bank and in hand | 54/58 | €24,123 | €13,141 | -€10,982 | -45.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €5,584,834 | €4,774,911 | -€809,923 | -14.5% |
| Equity | 10/15 | €4,006,104 | €4,413,932 | +€407,828 | +10.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,944,604 | €4,352,432 | +€407,828 | +10.3% |
| Non-distributable reserves | 130/1 | €207,675 | €207,675 | = | 0.0% |
| Legal reserve | 130 | €207,675 | €207,675 | = | 0.0% |
| Distributable reserves | 133 | €3,736,930 | €4,144,757 | +€407,828 | +10.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,578,730 | €360,979 | -€1.2m | -77.1% |
| Amounts payable after more than one year | 17 | €707,483 | €0 | -€707,483 | -100% |
| Financial debts | 170/4 | €707,483 | €0 | -€707,483 | -100% |
| Amounts payable within one year | 42/48 | €384,624 | €360,684 | -€23,940 | -6.2% |
| Trade debts | 44 | €0 | €1,738 | +€1,738 | |
| Suppliers | 440/4 | €0 | €1,738 | +€1,738 | |
| Taxes, remuneration and social security | 45 | €384,624 | €58,946 | -€325,678 | -84.7% |
| Taxes | 450/3 | €369,624 | €58,946 | -€310,678 | -84.1% |
| Remuneration and social security | 454/9 | €15,000 | €0 | -€15,000 | -100% |
| Other amounts payable | 47/48 | €0 | €300,000 | +€300,000 | |
| Accrued charges and deferred income | 492/3 | €486,623 | €295 | -€486,328 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150 | €150 | = | 0.0% |
| Other operating charges | 640/8 | €18,853 | €2,251 | -€16,601 | -88.1% |
| Non-recurring operating charges | 66A | - | €4,943 | +€4,943 | |
| Gross operating margin | 9900 | -€76,844 | -€38,641 | +€38,203 | +49.7% |
| Operating profit (loss) | 9901 | -€95,847 | -€45,986 | +€49,861 | +52.0% |
| Financial income | 75/76B | €4,309,447 | €1,363,535 | -€2.9m | -68.4% |
| Recurring financial income | 75 | €4,309,447 | €1,363,535 | -€2.9m | -68.4% |
| Financial charges | 65/66B | €76,672 | €338,503 | +€261,831 | +341% |
| Recurring financial charges | 65 | €73,664 | €338,503 | +€264,839 | +360% |
| Non-recurring financial charges | 66B | €3,008 | €0 | -€3,008 | -100% |
| Profit (loss) for the period before taxes | 9903 | €4,136,929 | €979,046 | -€3.2m | -76.3% |
| Income taxes | 67/77 | €955,766 | €271,218 | -€684,548 | -71.6% |
| Profit (loss) for the period | 9904 | €3,181,162 | €707,828 | -€2.5m | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,181,162 | €707,828 | -€2.5m | -77.7% |
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 14 October 2026 via checked.be.