SEEGRAPH: 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.
SEEGRAPH
Largest movements
- Cash +€5,848
up €5,848 (+86.9%), from €6,734 to €12,582
mainly Other debts (+€10,000) and Tax, wage and social debts (+€6,084)
- Deferred charges and accrued income +€3,287
new in 2025: €3,287
- Tangible fixed assets +€2,628
up €2,628 (+135.0%), from €1,946 to €4,575
- Receivables within one year -€1,097
down €1,097 (-8.7%), from €12,616 to €11,519
of which Trade receivables: -€3,539
- Other debts +€10,000
new in 2025: €10,000
- Profit (loss) carried forward -€8,996
down €8,996 (-72.7%), from €12,371 to €3,375
- Tax, wage and social debts +€6,084
up €6,084 (+86.6%), from €7,022 to €13,106
- Trade debts +€5,214
new in 2025: €5,214
- Accrued charges and deferred income -€1,313
no longer reported in 2025 (was €1,313)
- Gross operating margin -€7,543
down €7,543 (-48.4%), from €15,571 to €8,028
- Depreciation +€2,172
up €2,172 (+845.5%), from €257 to €2,429
- Other operating charges +€1,686
up €1,686 (+523.8%), from €322 to €2,008
- Taxes -€849
down €849 (-34.0%), from €2,500 to €1,651
- Financial charges +€848
up €848 (+700.3%), from €121 to €969
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 | €22,224 | €32,695 | +€10,471 | +47.1% |
| Formation expenses | 20 | €929 | €732 | -€197 | -21.2% |
| Fixed assets | 21/28 | €1,946 | €4,575 | +€2,628 | +135.0% |
| Tangible fixed assets | 22/27 | €1,946 | €4,575 | +€2,628 | +135.0% |
| Furniture and vehicles | 24 | €1,946 | €4,575 | +€2,628 | +135.0% |
| Current assets | 29/58 | €19,349 | €27,388 | +€8,039 | +41.5% |
| Amounts receivable within one year | 40/41 | €12,616 | €11,519 | -€1,097 | -8.7% |
| Trade receivables | 40 | €12,616 | €9,077 | -€3,539 | -28.1% |
| Other amounts receivable | 41 | - | €2,442 | +€2,442 | |
| Cash at bank and in hand | 54/58 | €6,734 | €12,582 | +€5,848 | +86.9% |
| Deferred charges and accrued income | 490/1 | - | €3,287 | +€3,287 | |
| Total equity and liabilities | 10/49 | €22,224 | €32,695 | +€10,471 | +47.1% |
| Equity | 10/15 | €13,371 | €4,375 | -€8,996 | -67.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,371 | €3,375 | -€8,996 | -72.7% |
| Amounts payable | 17/49 | €8,853 | €28,320 | +€19,467 | +219.9% |
| Amounts payable within one year | 42/48 | €7,540 | €28,320 | +€20,780 | +275.6% |
| Current portion of amounts payable after more than one year | 42 | €518 | - | -€518 | |
| Trade debts | 44 | - | €5,214 | +€5,214 | |
| Suppliers | 440/4 | - | €5,214 | +€5,214 | |
| Taxes, remuneration and social security | 45 | €7,022 | €13,106 | +€6,084 | +86.6% |
| Taxes | 450/3 | €7,022 | €13,106 | +€6,084 | +86.6% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | €1,313 | - | -€1,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €2,429 | +€2,172 | +845.5% |
| Other operating charges | 640/8 | €322 | €2,008 | +€1,686 | +523.8% |
| Gross operating margin | 9900 | €15,571 | €8,028 | -€7,543 | -48.4% |
| Operating profit (loss) | 9901 | €14,992 | €3,591 | -€11,401 | -76.0% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €121 | €969 | +€848 | +700.3% |
| Recurring financial charges | 65 | €121 | €969 | +€848 | +700.3% |
| Profit (loss) for the period before taxes | 9903 | €14,871 | €2,654 | -€12,217 | -82.2% |
| Income taxes | 67/77 | €2,500 | €1,651 | -€849 | -34.0% |
| Profit (loss) for the period | 9904 | €12,371 | €1,004 | -€11,368 | -91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,371 | €1,004 | -€11,368 | -91.9% |
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 10 October 2026 via checked.be.