SEED: 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.
SEED
Largest movements
- Receivables within one year -€3,936
down €3,936 (-3.7%), from €107,053 to €103,117
of which Other amounts receivable: -€2,406
- Tangible fixed assets -€1,259
down €1,259 (-100%), from €1,259 to €0
- Tax, wage and social debts -€3,518
down €3,518 (-24.0%), from €14,675 to €11,157
- Trade debts -€2,713
down €2,713 (-51.3%), from €5,286 to €2,574
- Profit (loss) carried forward +€2,436
up €2,436 (+17.7%), from -€13,778 to -€11,341
- Short-term financial debts -€1,450
down €1,450 (-27.1%), from €5,346 to €3,895
- Gross operating margin +€1,512
up €1,512 (+33.2%), from €4,552 to €6,064
- Other operating charges +€1,012
up €1,012 (+58.9%), from €1,718 to €2,730
- Financial charges +€740
up €740 (+37.2%), from €1,989 to €2,729
- Depreciation -€94
down €94 (-7.0%), from €1,353 to €1,259
- Taxes -€84
down €84 (-6.3%), from €1,331 to €1,247
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,623 | €106,985 | -€5,638 | -5.0% |
| Fixed assets | 21/28 | €1,259 | €0 | -€1,259 | -100% |
| Tangible fixed assets | 22/27 | €1,259 | €0 | -€1,259 | -100% |
| Plant, machinery and equipment | 23 | €1,259 | €0 | -€1,259 | -100% |
| Current assets | 29/58 | €111,363 | €106,985 | -€4,379 | -3.9% |
| Amounts receivable within one year | 40/41 | €107,053 | €103,117 | -€3,936 | -3.7% |
| Trade receivables | 40 | €47,234 | €45,705 | -€1,529 | -3.2% |
| Other amounts receivable | 41 | €59,819 | €57,412 | -€2,406 | -4.0% |
| Deferred charges and accrued income | 490/1 | €4,311 | €3,868 | -€443 | -10.3% |
| Total equity and liabilities | 10/49 | €112,623 | €106,985 | -€5,638 | -5.0% |
| Equity | 10/15 | €35,916 | €37,259 | +€1,343 | +3.7% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €1,094 | €0 | -€1,094 | -100% |
| Distributable reserves | 133 | €1,094 | €0 | -€1,094 | -100% |
| Profit (loss) carried forward | 14 | -€13,778 | -€11,341 | +€2,436 | +17.7% |
| Amounts payable | 17/49 | €76,707 | €69,726 | -€6,981 | -9.1% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,307 | €17,626 | -€7,681 | -30.4% |
| Financial debts | 43 | €5,346 | €3,895 | -€1,450 | -27.1% |
| Credit institutions | 430/8 | €5,346 | €3,895 | -€1,450 | -27.1% |
| Trade debts | 44 | €5,286 | €2,574 | -€2,713 | -51.3% |
| Suppliers | 440/4 | €5,286 | €2,574 | -€2,713 | -51.3% |
| Taxes, remuneration and social security | 45 | €14,675 | €11,157 | -€3,518 | -24.0% |
| Taxes | 450/3 | €14,675 | €11,157 | -€3,518 | -24.0% |
| Accrued charges and deferred income | 492/3 | €1,400 | €2,100 | +€700 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,353 | €1,259 | -€94 | -7.0% |
| Other operating charges | 640/8 | €1,718 | €2,730 | +€1,012 | +58.9% |
| Gross operating margin | 9900 | €4,552 | €6,064 | +€1,512 | +33.2% |
| Operating profit (loss) | 9901 | €1,481 | €2,075 | +€594 | +40.1% |
| Financial income | 75/76B | €3,328 | €3,244 | -€84 | -2.5% |
| Recurring financial income | 75 | €3,328 | €3,244 | -€84 | -2.5% |
| Financial charges | 65/66B | €1,989 | €2,729 | +€740 | +37.2% |
| Recurring financial charges | 65 | €1,989 | €2,729 | +€740 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €2,819 | €2,590 | -€230 | -8.1% |
| Income taxes | 67/77 | €1,331 | €1,247 | -€84 | -6.3% |
| Profit (loss) for the period | 9904 | €1,488 | €1,343 | -€146 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,488 | €1,343 | -€146 | -9.8% |
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.