SEERAT: 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.
SEERAT
Largest movements
- Cash +€137,393
up €137,393 (+379.6%), from €36,197 to €173,590
mainly Trade debts (+€81,515) and Tax, wage and social debts (+€68,695)
- Stocks and contracts +€24,153
up €24,153 (+36.1%), from €66,870 to €91,022
- Tangible fixed assets -€5,627
down €5,627 (-20.8%), from €27,012 to €21,385
of which Other tangible fixed assets: -€3,287
- Trade debts +€81,515
up €81,515 (+357.2%), from €22,819 to €104,333
- Tax, wage and social debts +€68,695
up €68,695 (+200.1%), from €34,336 to €103,031
of which Taxes: +€42,789
- Profit (loss) carried forward +€5,386
up €5,386 (+82.4%), from €6,533 to €11,919
- Turnover +€607,381
up €607,381 (+141.5%), from €429,177 to €1.0m
- Purchases and services +€557,845
up €557,845 (+161.4%), from €345,595 to €903,440
- Gross operating margin +€44,196
up €44,196 (+49.6%), from €89,111 to €133,307
- Staff costs +€37,990
up €37,990 (+46.6%), from €81,493 to €119,482
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 | €130,188 | €286,639 | +€156,452 | +120.2% |
| Fixed assets | 21/28 | €27,012 | €21,385 | -€5,627 | -20.8% |
| Tangible fixed assets | 22/27 | €27,012 | €21,385 | -€5,627 | -20.8% |
| Furniture and vehicles | 24 | €11,403 | €9,063 | -€2,340 | -20.5% |
| Other tangible fixed assets | 26 | €15,609 | €12,322 | -€3,287 | -21.1% |
| Current assets | 29/58 | €103,175 | €265,254 | +€162,079 | +157.1% |
| Stocks and contracts in progress | 3 | €66,870 | €91,022 | +€24,153 | +36.1% |
| Stocks | 30/36 | €66,870 | €91,022 | +€24,153 | +36.1% |
| Amounts receivable within one year | 40/41 | €27 | €559 | +€532 | +2000.3% |
| Trade receivables | 40 | €27 | €559 | +€532 | +2000.3% |
| Cash at bank and in hand | 54/58 | €36,197 | €173,590 | +€137,393 | +379.6% |
| Deferred charges and accrued income | 490/1 | €82 | €83 | +€1 | +0.9% |
| Total equity and liabilities | 10/49 | €130,188 | €286,639 | +€156,452 | +120.2% |
| Equity | 10/15 | €19,033 | €24,419 | +€5,386 | +28.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,533 | €11,919 | +€5,386 | +82.4% |
| Amounts payable | 17/49 | €111,155 | €262,221 | +€151,066 | +135.9% |
| Amounts payable after more than one year | 17 | €54,000 | €54,000 | = | 0.0% |
| Other amounts payable | 178/9 | €54,000 | €54,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,155 | €208,221 | +€151,066 | +264.3% |
| Trade debts | 44 | €22,819 | €104,333 | +€81,515 | +357.2% |
| Suppliers | 440/4 | €22,819 | €104,333 | +€81,515 | +357.2% |
| Taxes, remuneration and social security | 45 | €34,336 | €103,031 | +€68,695 | +200.1% |
| Taxes | 450/3 | €29,187 | €71,976 | +€42,789 | +146.6% |
| Remuneration and social security | 454/9 | €5,149 | €31,055 | +€25,905 | +503.1% |
| Other amounts payable | 47/48 | - | €857 | +€857 | |
| Turnover | 70 | €429,177 | €1,036,558 | +€607,381 | +141.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €345,595 | €903,440 | +€557,845 | +161.4% |
| Remuneration, social security and pensions | 62 | €81,493 | €119,482 | +€37,990 | +46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,122 | €5,627 | +€4,505 | +401.5% |
| Other operating charges | 640/8 | €1,351 | €1,161 | -€190 | -14.0% |
| Gross operating margin | 9900 | €89,111 | €133,307 | +€44,196 | +49.6% |
| Operating profit (loss) | 9901 | €5,145 | €7,036 | +€1,891 | +36.8% |
| Financial charges | 65/66B | €228 | €304 | +€76 | +33.5% |
| Recurring financial charges | 65 | €228 | €304 | +€76 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €4,917 | €6,732 | +€1,815 | +36.9% |
| Income taxes | 67/77 | €983 | €1,346 | +€363 | +36.9% |
| Profit (loss) for the period | 9904 | €3,934 | €5,386 | +€1,452 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,934 | €5,386 | +€1,452 | +36.9% |
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.