SEEDER FUND: 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.
SEEDER FUND
Largest movements
- Financial fixed assets -€369,135
down €369,135 (-5.7%), from €6.5m to €6.2m
- Current investments -€160,000
no longer reported in 2025 (was €160,000)
- Cash -€120,472
down €120,472 (-94.5%), from €127,418 to €6,946
mainly Debts after one year (-€1.4m) and Net result for the year (-€204,170)
- Receivables within one year +€118,461
up €118,461 (+6,365%), from €1,861 to €120,322
of which Other amounts receivable: +€101,479
- Deferred charges and accrued income -€83,919
down €83,919 (-80.0%), from €104,912 to €20,993
- Debts after one year -€1.4m
down €1.4m (-51.0%), from €2.7m to €1.3m
- Other debts +€557,430
up €557,430 (+326,938%), from €171 to €557,600
- Contributions +€328,000
up €328,000 (+3.6%), from €9.2m to €9.5m
- Profit (loss) carried forward -€204,170
down €204,170 (-4.1%), from -€5.0m to -€5.2m
- Trade debts +€96,900
up €96,900 (+635%), from €15,258 to €112,158
- Financial charges -€5.1m
down €5.1m (-90.7%), from €5.6m to €519,415
of which Non-recurring financial charges: -€5.0m
- Financial income -€3.5m
down €3.5m (-84.4%), from €4.1m to €643,155
of which Non-recurring financial income: -€3.5m
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 | €6,924,318 | €6,309,252 | -€615,066 | -8.9% |
| Fixed assets | 21/28 | €6,530,127 | €6,160,991 | -€369,135 | -5.7% |
| Financial fixed assets | 28 | €6,530,127 | €6,160,991 | -€369,135 | -5.7% |
| Current assets | 29/58 | €394,192 | €148,261 | -€245,931 | -62.4% |
| Amounts receivable within one year | 40/41 | €1,861 | €120,322 | +€118,461 | +6,365% |
| Trade receivables | 40 | €1,587 | €18,569 | +€16,982 | +1,070% |
| Other amounts receivable | 41 | €275 | €101,753 | +€101,479 | +36,969% |
| Current investments | 50/53 | €160,000 | - | -€160,000 | |
| Cash at bank and in hand | 54/58 | €127,418 | €6,946 | -€120,472 | -94.5% |
| Deferred charges and accrued income | 490/1 | €104,912 | €20,993 | -€83,919 | -80.0% |
| Total equity and liabilities | 10/49 | €6,924,318 | €6,309,252 | -€615,066 | -8.9% |
| Equity | 10/15 | €4,178,290 | €4,302,119 | +€123,830 | +3.0% |
| Contributions | 10/11 | €9,184,000 | €9,512,000 | +€328,000 | +3.6% |
| Capital | 10 | €9,184,000 | €9,512,000 | +€328,000 | +3.6% |
| Issued capital | 100 | €11,480,000 | €11,480,000 | = | 0.0% |
| Uncalled capital | 101 | €2,296,000 | €1,968,000 | -€328,000 | -14.3% |
| Profit (loss) carried forward | 14 | -€5,005,710 | -€5,209,881 | -€204,170 | -4.1% |
| Amounts payable | 17/49 | €2,746,029 | €2,007,133 | -€738,896 | -26.9% |
| Amounts payable after more than one year | 17 | €2,730,600 | €1,337,375 | -€1.4m | -51.0% |
| Other amounts payable | 178/9 | €2,730,600 | €1,337,375 | -€1.4m | -51.0% |
| Amounts payable within one year | 42/48 | €15,429 | €669,758 | +€654,330 | +4,241% |
| Trade debts | 44 | €15,258 | €112,158 | +€96,900 | +635% |
| Suppliers | 440/4 | €15,258 | €112,158 | +€96,900 | +635% |
| Other amounts payable | 47/48 | €171 | €557,600 | +€557,430 | +326,938% |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | -€327,040 | -€326,942 | +€97 | 0.0% |
| Operating profit (loss) | 9901 | -€328,000 | -€327,910 | +€90 | 0.0% |
| Financial income | 75/76B | €4,128,986 | €643,155 | -€3.5m | -84.4% |
| Recurring financial income | 75 | €109,942 | €122,283 | +€12,341 | +11.2% |
| Non-recurring financial income | 76B | €4,019,044 | €520,872 | -€3.5m | -87.0% |
| Financial charges | 65/66B | €5,590,427 | €519,415 | -€5.1m | -90.7% |
| Recurring financial charges | 65 | €32,341 | €315 | -€32,026 | -99.0% |
| Non-recurring financial charges | 66B | €5,558,086 | €519,100 | -€5.0m | -90.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,789,442 | -€204,170 | +€1.6m | +88.6% |
| Profit (loss) for the period | 9904 | -€1,789,442 | -€204,170 | +€1.6m | +88.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,789,442 | -€204,170 | +€1.6m | +88.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.