SEDICO: 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.
SEDICO
Largest movements
- Cash +€691,724
up €691,724 (+2065.2%), from €33,494 to €725,218
mainly Other debts (+€455,278) and Net result for the year (+€376,175)
- Tangible fixed assets -€331,056
down €331,056 (-4.8%), from €6.8m to €6.5m
of which Land and buildings: -€326,598
- Profit (loss) carried forward +€1.2m
up €1.2m (+12.1%), from -€9.9m to -€8.7m
- Reserves -€819,194
down €819,194 (-66.6%), from €1.2m to €410,236
of which Tax-exempt reserves: -€819,194
- Other debts +€455,278
up €455,278 (+3.2%), from €14.1m to €14.6m
- Provisions -€421,821
down €421,821 (-68.0%), from €620,612 to €198,791
- Gross operating margin +€915,689
up €915,689, from -€121,930 to €793,759
- Financial charges +€248,428
up €248,428 (+3346.3%), from €7,424 to €255,851
- Other operating charges -€33,458
down €33,458 (-49.1%), from €68,163 to €34,704
- Staff costs -€18,633
down €18,633 (-9.8%), from €190,630 to €171,996
- Taxes +€18,199
new in 2025: €18,199
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 | €6,978,953 | €7,317,114 | +€338,160 | +4.8% |
| Fixed assets | 21/28 | €6,834,172 | €6,503,117 | -€331,056 | -4.8% |
| Tangible fixed assets | 22/27 | €6,827,248 | €6,496,192 | -€331,056 | -4.8% |
| Land and buildings | 22 | €6,807,499 | €6,480,901 | -€326,598 | -4.8% |
| Plant, machinery and equipment | 23 | €19,749 | €15,291 | -€4,458 | -22.6% |
| Financial fixed assets | 28 | €6,924 | €6,924 | = | 0.0% |
| Current assets | 29/58 | €144,781 | €813,997 | +€669,216 | +462.2% |
| Amounts receivable within one year | 40/41 | €95,691 | €76,630 | -€19,061 | -19.9% |
| Trade receivables | 40 | €59,691 | €498 | -€59,193 | -99.2% |
| Other amounts receivable | 41 | €36,000 | €76,132 | +€40,132 | +111.5% |
| Cash at bank and in hand | 54/58 | €33,494 | €725,218 | +€691,724 | +2065.2% |
| Deferred charges and accrued income | 490/1 | €15,596 | €12,150 | -€3,446 | -22.1% |
| Total equity and liabilities | 10/49 | €6,978,953 | €7,317,114 | +€338,160 | +4.8% |
| Equity | 10/15 | -€7,911,715 | -€7,535,540 | +€376,175 | +4.8% |
| Contributions | 10/11 | €725,000 | €725,000 | = | 0.0% |
| Capital | 10 | €725,000 | €725,000 | = | 0.0% |
| Issued capital | 100 | €725,000 | €725,000 | = | 0.0% |
| Reserves | 13 | €1,229,430 | €410,236 | -€819,194 | -66.6% |
| Tax-exempt reserves | 132 | €1,205,255 | €386,061 | -€819,194 | -68.0% |
| Distributable reserves | 133 | €24,175 | €24,175 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,866,145 | -€8,670,776 | +€1.2m | +12.1% |
| Provisions and deferred taxes | 16 | €620,612 | €198,791 | -€421,821 | -68.0% |
| Deferred taxes | 168 | €620,612 | €198,791 | -€421,821 | -68.0% |
| Amounts payable | 17/49 | €14,270,056 | €14,653,862 | +€383,807 | +2.7% |
| Amounts payable after more than one year | 17 | €12,000 | €12,000 | = | 0.0% |
| Financial debts | 170/4 | €12,000 | €12,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,258,056 | €14,641,862 | +€383,807 | +2.7% |
| Trade debts | 44 | €47,652 | €10,779 | -€36,873 | -77.4% |
| Suppliers | 440/4 | €47,652 | €10,779 | -€36,873 | -77.4% |
| Advances received on contracts in progress | 46 | €70 | €0 | -€70 | -100.0% |
| Taxes, remuneration and social security | 45 | €74,001 | €39,472 | -€34,528 | -46.7% |
| Taxes | 450/3 | €19,007 | €18,199 | -€808 | -4.2% |
| Remuneration and social security | 454/9 | €54,994 | €21,273 | -€33,721 | -61.3% |
| Other amounts payable | 47/48 | €14,136,333 | €14,591,611 | +€455,278 | +3.2% |
| Remuneration, social security and pensions | 62 | €190,630 | €171,996 | -€18,633 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367,972 | €359,478 | -€8,494 | -2.3% |
| Other operating charges | 640/8 | €68,163 | €34,704 | -€33,458 | -49.1% |
| Gross operating margin | 9900 | -€121,930 | €793,759 | +€915,689 | |
| Operating profit (loss) | 9901 | -€748,694 | €227,580 | +€976,275 | |
| Financial income | 75/76B | €1 | €824 | +€823 | +77655.7% |
| Recurring financial income | 75 | €1 | €824 | +€823 | +77655.7% |
| Financial charges | 65/66B | €7,424 | €255,851 | +€248,428 | +3346.3% |
| Recurring financial charges | 65 | €7,424 | €255,851 | +€248,428 | +3346.3% |
| Profit (loss) for the period before taxes | 9903 | -€756,117 | -€27,447 | +€728,670 | +96.4% |
| Transfer from deferred taxes | 780 | €2,541 | €421,821 | +€419,280 | +16502.7% |
| Income taxes | 67/77 | - | €18,199 | +€18,199 | |
| Profit (loss) for the period | 9904 | -€753,577 | €376,175 | +€1.1m | |
| Transfer from tax-exempt reserves | 789 | €4,934 | €819,194 | +€814,260 | +16502.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€748,643 | €1,195,369 | +€1.9m |
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 4 October 2026 via checked.be.