SEDIC: 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.
SEDIC
Largest movements
- Cash +€26,278
up €26,278 (+97.2%), from €27,027 to €53,305
mainly Debts after one year (+€50,000) and Receivables within one year (+€10,734)
- Receivables within one year -€10,734
down €10,734 (-4.8%), from €222,181 to €211,448
of which Trade receivables: -€56,264
- Debts after one year +€50,000
new in 2025: €50,000
- Reserves -€19,074
down €19,074 (-14.5%), from €131,224 to €112,151
of which Distributable reserves: -€19,074
- Trade debts -€16,891
down €16,891 (-27.3%), from €61,931 to €45,041
- Depreciation -€12,183
down €12,183 (-93.6%), from €13,010 to €827
- Gross operating margin -€3,203
down €3,203 (-12.3%), from €25,936 to €22,733
- Staff costs +€1,923
up €1,923 (+4.4%), from €44,172 to €46,095
- Taxes +€852
up €852, from -€852 to €0
- Financial income -€545
down €545 (-7.2%), from €7,596 to €7,051
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 | €250,617 | €265,904 | +€15,287 | +6.1% |
| Fixed assets | 21/28 | €1,409 | €581 | -€827 | -58.7% |
| Intangible fixed assets | 21 | €246 | €0 | -€246 | -100% |
| Tangible fixed assets | 22/27 | €1,163 | €581 | -€581 | -50.0% |
| Furniture and vehicles | 24 | €1,163 | €581 | -€581 | -50.0% |
| Current assets | 29/58 | €249,209 | €265,323 | +€16,114 | +6.5% |
| Amounts receivable within one year | 40/41 | €222,181 | €211,448 | -€10,734 | -4.8% |
| Trade receivables | 40 | €150,332 | €94,068 | -€56,264 | -37.4% |
| Other amounts receivable | 41 | €71,849 | €117,380 | +€45,531 | +63.4% |
| Cash at bank and in hand | 54/58 | €27,027 | €53,305 | +€26,278 | +97.2% |
| Deferred charges and accrued income | 490/1 | €0 | €570 | +€570 | |
| Total equity and liabilities | 10/49 | €250,617 | €265,904 | +€15,287 | +6.1% |
| Equity | 10/15 | €149,824 | €130,751 | -€19,074 | -12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,224 | €112,151 | -€19,074 | -14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €129,364 | €110,291 | -€19,074 | -14.7% |
| Amounts payable | 17/49 | €100,793 | €135,153 | +€34,361 | +34.1% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Financial debts | 170/4 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €100,632 | €85,153 | -€15,479 | -15.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €61,931 | €45,041 | -€16,891 | -27.3% |
| Suppliers | 440/4 | €61,931 | €45,041 | -€16,891 | -27.3% |
| Taxes, remuneration and social security | 45 | €38,701 | €40,113 | +€1,412 | +3.6% |
| Taxes | 450/3 | €33,351 | €34,550 | +€1,199 | +3.6% |
| Remuneration and social security | 454/9 | €5,350 | €5,562 | +€213 | +4.0% |
| Accrued charges and deferred income | 492/3 | €160 | €0 | -€160 | -100% |
| Remuneration, social security and pensions | 62 | €44,172 | €46,095 | +€1,923 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,010 | €827 | -€12,183 | -93.6% |
| Other operating charges | 640/8 | €528 | €857 | +€329 | +62.3% |
| Gross operating margin | 9900 | €25,936 | €22,733 | -€3,203 | -12.3% |
| Operating profit (loss) | 9901 | -€31,775 | -€25,046 | +€6,728 | +21.2% |
| Financial income | 75/76B | €7,596 | €7,051 | -€545 | -7.2% |
| Recurring financial income | 75 | €7,596 | €7,051 | -€545 | -7.2% |
| Financial charges | 65/66B | €1,565 | €1,079 | -€487 | -31.1% |
| Recurring financial charges | 65 | €1,565 | €1,079 | -€487 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | -€25,744 | -€19,074 | +€6,670 | +25.9% |
| Income taxes | 67/77 | -€852 | €0 | +€852 | |
| Profit (loss) for the period | 9904 | -€24,892 | -€19,074 | +€5,819 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,892 | -€19,074 | +€5,819 | +23.4% |
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 27 October 2026 via checked.be.