SEETAL: 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.
SEETAL
Largest movements
- Financial fixed assets +€750,000
new in 2025: €750,000
- Receivables within one year -€122,055
down €122,055 (-55.1%), from €221,593 to €99,538
of which Trade receivables: -€136,517
- Tangible fixed assets +€58,616
up €58,616 (+8.2%), from €711,616 to €770,232
of which Furniture and vehicles: +€81,160
- Cash -€28,120
down €28,120 (-27.1%), from €103,872 to €75,752
mainly Investment in fixed assets (net) (-€856,413) and Current investments (-€24,000)
- Current investments +€24,000
up €24,000 (+7.8%), from €309,334 to €333,334
- Reserves +€315,973
up €315,973 (+26.4%), from €1.2m to €1.5m
of which Distributable reserves: +€321,168
- Other debts +€248,632
up €248,632 (+329%), from €75,543 to €324,175
- Debts after one year +€54,104
new in 2025: €54,104
- Tax, wage and social debts +€36,130
up €36,130 (+313%), from €11,545 to €47,675
- Current portion of long-term debt +€27,038
new in 2025: €27,038
- Gross operating margin +€141,384
up €141,384 (+40.1%), from €352,817 to €494,202
- Taxes +€44,224
up €44,224 (+44.0%), from €100,550 to €144,774
- Financial income +€23,856
up €23,856 (+430%), from €5,545 to €29,401
- Depreciation +€14,811
up €14,811 (+44.9%), from €32,985 to €47,797
- Financial charges +€10,819
up €10,819 (+1,283%), from €843 to €11,662
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 | €1,349,928 | €2,037,509 | +€687,581 | +50.9% |
| Fixed assets | 21/28 | €711,616 | €1,520,232 | +€808,616 | +114% |
| Tangible fixed assets | 22/27 | €711,616 | €770,232 | +€58,616 | +8.2% |
| Land and buildings | 22 | €694,137 | €665,462 | -€28,675 | -4.1% |
| Plant, machinery and equipment | 23 | - | €6,131 | +€6,131 | |
| Furniture and vehicles | 24 | €17,480 | €98,640 | +€81,160 | +464% |
| Financial fixed assets | 28 | - | €750,000 | +€750,000 | |
| Current assets | 29/58 | €638,312 | €517,277 | -€121,035 | -19.0% |
| Amounts receivable within one year | 40/41 | €221,593 | €99,538 | -€122,055 | -55.1% |
| Trade receivables | 40 | €221,593 | €85,076 | -€136,517 | -61.6% |
| Other amounts receivable | 41 | - | €14,462 | +€14,462 | |
| Current investments | 50/53 | €309,334 | €333,334 | +€24,000 | +7.8% |
| Cash at bank and in hand | 54/58 | €103,872 | €75,752 | -€28,120 | -27.1% |
| Deferred charges and accrued income | 490/1 | €3,512 | €8,652 | +€5,140 | +146% |
| Total equity and liabilities | 10/49 | €1,349,928 | €2,037,509 | +€687,581 | +50.9% |
| Equity | 10/15 | €1,247,159 | €1,563,131 | +€315,973 | +25.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,197,159 | €1,513,131 | +€315,973 | +26.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €35,472 | €30,276 | -€5,196 | -14.6% |
| Distributable reserves | 133 | €1,161,687 | €1,482,855 | +€321,168 | +27.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €8,868 | €7,569 | -€1,299 | -14.6% |
| Deferred taxes | 168 | €8,868 | €7,569 | -€1,299 | -14.6% |
| Amounts payable | 17/49 | €93,901 | €466,809 | +€372,908 | +397% |
| Amounts payable after more than one year | 17 | - | €54,104 | +€54,104 | |
| Financial debts | 170/4 | - | €54,104 | +€54,104 | |
| Amounts payable within one year | 42/48 | €93,901 | €401,783 | +€307,882 | +328% |
| Current portion of amounts payable after more than one year | 42 | - | €27,038 | +€27,038 | |
| Trade debts | 44 | €6,813 | €2,895 | -€3,918 | -57.5% |
| Suppliers | 440/4 | €6,813 | €2,895 | -€3,918 | -57.5% |
| Taxes, remuneration and social security | 45 | €11,545 | €47,675 | +€36,130 | +313% |
| Taxes | 450/3 | €11,545 | €47,675 | +€36,130 | +313% |
| Other amounts payable | 47/48 | €75,543 | €324,175 | +€248,632 | +329% |
| Accrued charges and deferred income | 492/3 | - | €10,922 | +€10,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,985 | €47,797 | +€14,811 | +44.9% |
| Other operating charges | 640/8 | €4,136 | €4,567 | +€431 | +10.4% |
| Non-recurring operating charges | 66A | - | €130 | +€130 | |
| Gross operating margin | 9900 | €352,817 | €494,202 | +€141,384 | +40.1% |
| Operating profit (loss) | 9901 | €315,696 | €441,709 | +€126,012 | +39.9% |
| Financial income | 75/76B | €5,545 | €29,401 | +€23,856 | +430% |
| Recurring financial income | 75 | €5,545 | €29,401 | +€23,856 | +430% |
| Financial charges | 65/66B | €843 | €11,662 | +€10,819 | +1,283% |
| Recurring financial charges | 65 | €843 | €11,662 | +€10,819 | +1,283% |
| Profit (loss) for the period before taxes | 9903 | €320,399 | €459,448 | +€139,049 | +43.4% |
| Transfer from deferred taxes | 780 | €1,320 | €1,299 | -€21 | -1.6% |
| Income taxes | 67/77 | €100,550 | €144,774 | +€44,224 | +44.0% |
| Profit (loss) for the period | 9904 | €221,169 | €315,973 | +€94,804 | +42.9% |
| Transfer from tax-exempt reserves | 789 | €5,282 | €5,196 | -€86 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €226,451 | €321,168 | +€94,717 | +41.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.