SEEDER FUND II: 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 II
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+68.1%), from €1.7m to €2.8m
- Cash -€159,863
down €159,863 (-10.6%), from €1.5m to €1.3m
mainly Investment in fixed assets (net) (-€1.2m) and Net result for the year (-€608,223)
- Contributions +€1.6m
up €1.6m (+37.9%), from €4.2m to €5.7m
- Profit (loss) carried forward -€608,223
down €608,223 (-70.4%), from -€864,432 to -€1.5m
- Financial charges +€216,622
up €216,622 (+216%), from €100,467 to €317,088
of which Non-recurring financial charges: +€216,864
- Financial income +€104,033
up €104,033 (+334%), from €31,118 to €135,151
of which Financial income: +€78,977
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 | €3,312,238 | €4,283,871 | +€971,632 | +29.3% |
| Formation expenses | 20 | €65,760 | €49,110 | -€16,650 | -25.3% |
| Fixed assets | 21/28 | €1,691,854 | €2,844,591 | +€1.2m | +68.1% |
| Financial fixed assets | 28 | €1,691,854 | €2,844,591 | +€1.2m | +68.1% |
| Current assets | 29/58 | €1,554,624 | €1,390,170 | -€164,454 | -10.6% |
| Amounts receivable within one year | 40/41 | - | €2,114 | +€2,114 | |
| Other amounts receivable | 41 | - | €2,114 | +€2,114 | |
| Cash at bank and in hand | 54/58 | €1,506,372 | €1,346,509 | -€159,863 | -10.6% |
| Deferred charges and accrued income | 490/1 | €48,252 | €41,548 | -€6,704 | -13.9% |
| Total equity and liabilities | 10/49 | €3,312,238 | €4,283,871 | +€971,632 | +29.3% |
| Equity | 10/15 | €3,304,177 | €4,275,388 | +€971,211 | +29.4% |
| Contributions | 10/11 | €4,168,609 | €5,748,043 | +€1.6m | +37.9% |
| Capital | 10 | €4,168,609 | - | -€4.2m | |
| Issued capital | 100 | €4,168,609 | - | -€4.2m | |
| Profit (loss) carried forward | 14 | -€864,432 | -€1,472,655 | -€608,223 | -70.4% |
| Amounts payable | 17/49 | €8,061 | €8,482 | +€422 | +5.2% |
| Amounts payable within one year | 42/48 | €8,061 | €8,482 | +€422 | +5.2% |
| Trade debts | 44 | €8,061 | €8,482 | +€422 | +5.2% |
| Suppliers | 440/4 | €8,061 | €8,482 | +€422 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,650 | €16,650 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€407,286 | -€409,248 | -€1,961 | -0.5% |
| Operating profit (loss) | 9901 | -€424,321 | -€426,285 | -€1,964 | -0.5% |
| Financial income | 75/76B | €31,118 | €135,151 | +€104,033 | +334% |
| Recurring financial income | 75 | €31,118 | €110,095 | +€78,977 | +254% |
| Non-recurring financial income | 76B | - | €25,056 | +€25,056 | |
| Financial charges | 65/66B | €100,467 | €317,088 | +€216,622 | +216% |
| Recurring financial charges | 65 | €467 | €225 | -€242 | -51.8% |
| Non-recurring financial charges | 66B | €100,000 | €316,864 | +€216,864 | +217% |
| Profit (loss) for the period before taxes | 9903 | -€493,670 | -€608,223 | -€114,553 | -23.2% |
| Profit (loss) for the period | 9904 | -€493,670 | -€608,223 | -€114,553 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€493,670 | -€608,223 | -€114,553 | -23.2% |
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 27 October 2026 via checked.be.