SEERZ.COM: 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.
SEERZ.COM
Largest movements
- Intangible fixed assets -€26,659
down €26,659 (-50.0%), from €53,317 to €26,659
- Receivables within one year -€14,851
down €14,851 (-13.2%), from €112,838 to €97,987
of which Trade receivables: -€26,488
- Stocks and contracts -€12,081
down €12,081 (-8.1%), from €148,957 to €136,875
- Financial fixed assets -€4,488
down €4,488 (-37.1%), from €12,081 to €7,593
- Trade debts -€29,140
down €29,140 (-34.6%), from €84,236 to €55,096
- Debts after one year -€14,441
down €14,441 (-24.1%), from €59,986 to €45,544
- Tax, wage and social debts -€12,357
down €12,357 (-12.5%), from €99,228 to €86,871
of which Remuneration and social security: -€6,179
- Current portion of long-term debt -€11,088
down €11,088 (-43.4%), from €25,530 to €14,441
- Other debts +€5,252
up €5,252 (+1124.5%), from €467 to €5,719
- Depreciation -€21,751
down €21,751 (-30.6%), from €70,985 to €49,235
- Financial charges -€10,086
down €10,086 (-43.6%), from €23,157 to €13,071
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 | €381,552 | €320,794 | -€60,758 | -15.9% |
| Fixed assets | 21/28 | €116,877 | €85,860 | -€31,016 | -26.5% |
| Intangible fixed assets | 21 | €53,317 | €26,659 | -€26,659 | -50.0% |
| Tangible fixed assets | 22/27 | €51,479 | €51,609 | +€130 | +0.3% |
| Land and buildings | 22 | €853 | €151 | -€702 | -82.3% |
| Plant, machinery and equipment | 23 | €2,481 | €1,081 | -€1,400 | -56.4% |
| Furniture and vehicles | 24 | €48,145 | €50,377 | +€2,232 | +4.6% |
| Financial fixed assets | 28 | €12,081 | €7,593 | -€4,488 | -37.1% |
| Current assets | 29/58 | €264,675 | €234,933 | -€29,742 | -11.2% |
| Stocks and contracts in progress | 3 | €148,957 | €136,875 | -€12,081 | -8.1% |
| Stocks | 30/36 | €148,957 | €136,875 | -€12,081 | -8.1% |
| Amounts receivable within one year | 40/41 | €112,838 | €97,987 | -€14,851 | -13.2% |
| Trade receivables | 40 | €112,838 | €86,350 | -€26,488 | -23.5% |
| Other amounts receivable | 41 | - | €11,636 | +€11,636 | |
| Cash at bank and in hand | 54/58 | €2,881 | €72 | -€2,809 | -97.5% |
| Total equity and liabilities | 10/49 | €381,552 | €320,794 | -€60,758 | -15.9% |
| Equity | 10/15 | €52,438 | €53,442 | +€1,005 | +1.9% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €9,056 | €10,061 | +€1,005 | +11.1% |
| Non-distributable reserves | 130/1 | €4,338 | €4,338 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,338 | €4,338 | = | 0.0% |
| Distributable reserves | 133 | €4,718 | €5,723 | +€1,005 | +21.3% |
| Amounts payable | 17/49 | €329,114 | €267,351 | -€61,763 | -18.8% |
| Amounts payable after more than one year | 17 | €59,986 | €45,544 | -€14,441 | -24.1% |
| Financial debts | 170/4 | €59,986 | €45,544 | -€14,441 | -24.1% |
| Amounts payable within one year | 42/48 | €269,129 | €221,807 | -€47,322 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €25,530 | €14,441 | -€11,088 | -43.4% |
| Financial debts | 43 | €59,669 | €59,681 | +€12 | 0.0% |
| Credit institutions | 430/8 | €50,000 | €59,681 | +€9,681 | +19.4% |
| Other loans | 439 | €9,669 | - | -€9,669 | |
| Trade debts | 44 | €84,236 | €55,096 | -€29,140 | -34.6% |
| Suppliers | 440/4 | €84,236 | €55,096 | -€29,140 | -34.6% |
| Taxes, remuneration and social security | 45 | €99,228 | €86,871 | -€12,357 | -12.5% |
| Taxes | 450/3 | €40,364 | €34,186 | -€6,178 | -15.3% |
| Remuneration and social security | 454/9 | €58,864 | €52,685 | -€6,179 | -10.5% |
| Other amounts payable | 47/48 | €467 | €5,719 | +€5,252 | +1124.5% |
| Non-recurring operating income | 76A | €3,787 | - | -€3,787 | |
| Remuneration, social security and pensions | 62 | €381,036 | €381,498 | +€461 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,985 | €49,235 | -€21,751 | -30.6% |
| Other operating charges | 640/8 | €9,007 | €8,076 | -€931 | -10.3% |
| Non-recurring operating charges | 66A | €5,537 | - | -€5,537 | |
| Gross operating margin | 9900 | €451,670 | €454,021 | +€2,351 | +0.5% |
| Operating profit (loss) | 9901 | -€14,896 | €15,213 | +€30,109 | |
| Financial income | 75/76B | €6 | €4 | -€2 | -36.2% |
| Recurring financial income | 75 | €6 | €4 | -€2 | -36.2% |
| Financial charges | 65/66B | €23,157 | €13,071 | -€10,086 | -43.6% |
| Recurring financial charges | 65 | €23,157 | €13,071 | -€10,086 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | -€38,047 | €2,145 | +€40,193 | |
| Income taxes | 67/77 | €1,216 | €1,141 | -€76 | -6.2% |
| Profit (loss) for the period | 9904 | -€39,264 | €1,005 | +€40,268 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,264 | €1,005 | +€40,268 |
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 12 October 2026 via checked.be.