SEED CONCEPT: 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.
SEED CONCEPT
Largest movements
- Receivables within one year -€5,270
down €5,270 (-3.5%), from €151,357 to €146,087
of which Trade receivables: -€4,389
- Reserves -€4,855
down €4,855 (-8.1%), from €59,855 to €55,000
- Trade debts -€3,381
down €3,381 (-81.1%), from €4,167 to €786
- Financial charges -€22,295
down €22,295 (-99.4%), from €22,423 to €129
- Gross operating margin +€13,981
up €13,981 (+89.7%), from -€15,591 to -€1,610
- Other operating charges +€727
up €727 (+187.6%), from €387 to €1,114
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 | €189,775 | €182,577 | -€7,198 | -3.8% |
| Fixed assets | 21/28 | €37,997 | €36,180 | -€1,817 | -4.8% |
| Intangible fixed assets | 21 | €1,471 | €542 | -€929 | -63.2% |
| Tangible fixed assets | 22/27 | €36,526 | €35,638 | -€888 | -2.4% |
| Furniture and vehicles | 24 | €929 | €41 | -€888 | -95.6% |
| Other tangible fixed assets | 26 | €35,597 | €35,597 | = | 0.0% |
| Current assets | 29/58 | €151,778 | €146,397 | -€5,381 | -3.5% |
| Amounts receivable within one year | 40/41 | €151,357 | €146,087 | -€5,270 | -3.5% |
| Trade receivables | 40 | €4,389 | - | -€4,389 | |
| Other amounts receivable | 41 | €146,968 | €146,087 | -€881 | -0.6% |
| Cash at bank and in hand | 54/58 | €421 | €310 | -€111 | -26.3% |
| Total equity and liabilities | 10/49 | €189,775 | €182,577 | -€7,198 | -3.8% |
| Equity | 10/15 | €78,427 | €73,554 | -€4,873 | -6.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €59,855 | €55,000 | -€4,855 | -8.1% |
| Distributable reserves | 133 | €59,855 | €55,000 | -€4,855 | -8.1% |
| Profit (loss) carried forward | 14 | €22 | €4 | -€18 | -82.1% |
| Amounts payable | 17/49 | €111,348 | €109,023 | -€2,325 | -2.1% |
| Amounts payable within one year | 42/48 | €111,280 | €108,956 | -€2,324 | -2.1% |
| Trade debts | 44 | €4,167 | €786 | -€3,381 | -81.1% |
| Suppliers | 440/4 | €4,167 | €786 | -€3,381 | -81.1% |
| Taxes, remuneration and social security | 45 | - | €27 | +€27 | |
| Taxes | 450/3 | - | €27 | +€27 | |
| Other amounts payable | 47/48 | €107,113 | €108,143 | +€1,029 | +1.0% |
| Accrued charges and deferred income | 492/3 | €67 | €67 | -€0 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,776 | €1,817 | +€41 | +2.3% |
| Other operating charges | 640/8 | €387 | €1,114 | +€727 | +187.6% |
| Non-recurring operating charges | 66A | - | €204 | +€204 | |
| Gross operating margin | 9900 | -€15,591 | -€1,610 | +€13,981 | +89.7% |
| Operating profit (loss) | 9901 | -€17,754 | -€4,745 | +€13,009 | +73.3% |
| Financial charges | 65/66B | €22,423 | €129 | -€22,295 | -99.4% |
| Recurring financial charges | 65 | €22,423 | €129 | -€22,295 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | -€40,177 | -€4,873 | +€35,304 | +87.9% |
| Profit (loss) for the period | 9904 | -€40,177 | -€4,873 | +€35,304 | +87.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,177 | -€4,873 | +€35,304 | +87.9% |
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 6 October 2026 via checked.be.