SEELEN BEHEER: 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.
SEELEN BEHEER
Largest movements
- Receivables after one year +€553,300
up €553,300 (+337%), from €163,993 to €717,293
- Tangible fixed assets -€159,143
no longer reported in 2025 (was €159,143)
- Cash +€133,639
up €133,639 (+3,508%), from €3,809 to €137,448
mainly Net result for the year (+€573,888) and Investment in fixed assets (net) (+€168,958)
- Receivables within one year +€30,749
new in 2025: €30,749
- Financial fixed assets -€9,815
no longer reported in 2025 (was €9,815)
- Profit (loss) carried forward +€573,888
up €573,888 (+20.2%), from -€2.8m to -€2.3m
- Debts after one year -€29,600
down €29,600 (-1.0%), from €2.9m to €2.9m
- Gross operating margin +€563,116
up €563,116, from -€18,552 to €544,564
- Financial income +€12,970
up €12,970 (+42.5%), from €30,500 to €43,470
- Other operating charges +€10,656
up €10,656 (+310%), from €3,439 to €14,095
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 | €356,611 | €905,340 | +€548,730 | +154% |
| Fixed assets | 21/28 | €168,958 | - | -€168,958 | |
| Tangible fixed assets | 22/27 | €159,143 | - | -€159,143 | |
| Land and buildings | 22 | €159,143 | - | -€159,143 | |
| Financial fixed assets | 28 | €9,815 | - | -€9,815 | |
| Current assets | 29/58 | €187,652 | €905,340 | +€717,688 | +382% |
| Amounts receivable after more than one year | 29 | €163,993 | €717,293 | +€553,300 | +337% |
| Other amounts receivable | 291 | €163,993 | €717,293 | +€553,300 | +337% |
| Amounts receivable within one year | 40/41 | - | €30,749 | +€30,749 | |
| Other amounts receivable | 41 | - | €30,749 | +€30,749 | |
| Cash at bank and in hand | 54/58 | €3,809 | €137,448 | +€133,639 | +3,508% |
| Deferred charges and accrued income | 490/1 | €19,850 | €19,850 | = | 0.0% |
| Total equity and liabilities | 10/49 | €356,611 | €905,340 | +€548,730 | +154% |
| Equity | 10/15 | -€2,573,797 | -€1,999,909 | +€573,888 | +22.3% |
| Contributions | 10/11 | €243,620 | €243,620 | = | 0.0% |
| Reserves | 13 | €24,362 | €24,362 | = | 0.0% |
| Distributable reserves | 133 | €24,362 | €24,362 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,841,779 | -€2,267,891 | +€573,888 | +20.2% |
| Amounts payable | 17/49 | €2,930,407 | €2,905,249 | -€25,158 | -0.9% |
| Amounts payable after more than one year | 17 | €2,915,918 | €2,886,318 | -€29,600 | -1.0% |
| Financial debts | 170/4 | €2,915,918 | €2,886,318 | -€29,600 | -1.0% |
| Amounts payable within one year | 42/48 | €11,489 | €10,958 | -€531 | -4.6% |
| Trade debts | 44 | €531 | - | -€531 | |
| Suppliers | 440/4 | €531 | - | -€531 | |
| Other amounts payable | 47/48 | €10,958 | €10,958 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | €7,973 | +€4,973 | +166% |
| Non-recurring operating income | 76A | - | €565,857 | +€565,857 | |
| Other operating charges | 640/8 | €3,439 | €14,095 | +€10,656 | +310% |
| Gross operating margin | 9900 | -€18,552 | €544,564 | +€563,116 | |
| Operating profit (loss) | 9901 | -€21,991 | €530,469 | +€552,460 | |
| Financial income | 75/76B | €30,500 | €43,470 | +€12,970 | +42.5% |
| Recurring financial income | 75 | €30,500 | €43,470 | +€12,970 | +42.5% |
| Financial charges | 65/66B | €380 | €51 | -€329 | -86.6% |
| Recurring financial charges | 65 | €380 | €51 | -€329 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | €8,129 | €573,888 | +€565,759 | +6,960% |
| Profit (loss) for the period | 9904 | €8,129 | €573,888 | +€565,759 | +6,960% |
| Profit (loss) for the period to be appropriated | 9905 | €8,129 | €573,888 | +€565,759 | +6,960% |
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 28 October 2026 via checked.be.