SEETHRU: 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.
SEETHRU
Largest movements
- Tangible fixed assets +€310,722
up €310,722 (+352%), from €88,324 to €399,045
of which Land and buildings: +€270,672
- Receivables within one year -€110,083
down €110,083 (-83.6%), from €131,680 to €21,598
of which Trade receivables: -€110,143
- Cash -€78,624
down €78,624 (-97.2%), from €80,911 to €2,287
mainly Investment in fixed assets (net) (-€362,788) and Tax, wage and social debts (-€69,459)
- Debts after one year +€166,728
new in 2024: €166,728
of which Financial debts: +€108,387
- Tax, wage and social debts -€69,459
down €69,459 (-96.0%), from €72,349 to €2,890
- Trade debts +€23,569
up €23,569 (+3,022%), from €780 to €24,349
- Current portion of long-term debt +€10,512
new in 2024: €10,512
- Profit (loss) carried forward -€7,629
down €7,629 (-3.4%), from €224,486 to €216,858
- Gross operating margin -€52,786
down €52,786 (-51.9%), from €101,794 to €49,008
- Depreciation +€48,678
up €48,678 (+1,436%), from €3,389 to €52,067
- Taxes -€22,842
no longer reported in 2024 (was €22,842)
- Financial charges +€3,082
up €3,082 (+9,342%), from €33 to €3,115
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,915 | €423,836 | +€122,921 | +40.8% |
| Fixed assets | 21/28 | €88,324 | €399,045 | +€310,722 | +352% |
| Tangible fixed assets | 22/27 | €88,324 | €399,045 | +€310,722 | +352% |
| Land and buildings | 22 | €87,781 | €358,453 | +€270,672 | +308% |
| Furniture and vehicles | 24 | €543 | €40,593 | +€40,049 | +7,373% |
| Current assets | 29/58 | €212,591 | €24,791 | -€187,801 | -88.3% |
| Amounts receivable within one year | 40/41 | €131,680 | €21,598 | -€110,083 | -83.6% |
| Trade receivables | 40 | €129,658 | €19,515 | -€110,143 | -84.9% |
| Other amounts receivable | 41 | €2,022 | €2,082 | +€60 | +3.0% |
| Cash at bank and in hand | 54/58 | €80,911 | €2,287 | -€78,624 | -97.2% |
| Deferred charges and accrued income | 490/1 | - | €906 | +€906 | |
| Total equity and liabilities | 10/49 | €300,915 | €423,836 | +€122,921 | +40.8% |
| Equity | 10/15 | €226,986 | €219,358 | -€7,629 | -3.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,486 | €216,858 | -€7,629 | -3.4% |
| Amounts payable | 17/49 | €73,929 | €204,478 | +€130,550 | +177% |
| Amounts payable after more than one year | 17 | - | €166,728 | +€166,728 | |
| Financial debts | 170/4 | - | €108,387 | +€108,387 | |
| Other amounts payable | 178/9 | - | €58,342 | +€58,342 | |
| Amounts payable within one year | 42/48 | €73,929 | €37,750 | -€36,179 | -48.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,512 | +€10,512 | |
| Trade debts | 44 | €780 | €24,349 | +€23,569 | +3,022% |
| Suppliers | 440/4 | €780 | €24,349 | +€23,569 | +3,022% |
| Taxes, remuneration and social security | 45 | €72,349 | €2,890 | -€69,459 | -96.0% |
| Taxes | 450/3 | €72,349 | €2,890 | -€69,459 | -96.0% |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,389 | €52,067 | +€48,678 | +1,436% |
| Other operating charges | 640/8 | €450 | €1,455 | +€1,005 | +223% |
| Gross operating margin | 9900 | €101,794 | €49,008 | -€52,786 | -51.9% |
| Operating profit (loss) | 9901 | €97,955 | -€4,515 | -€102,469 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €33 | €3,115 | +€3,082 | +9,342% |
| Recurring financial charges | 65 | €33 | €3,115 | +€3,082 | +9,342% |
| Profit (loss) for the period before taxes | 9903 | €97,922 | -€7,629 | -€105,550 | |
| Income taxes | 67/77 | €22,842 | - | -€22,842 | |
| Profit (loss) for the period | 9904 | €75,079 | -€7,629 | -€82,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,079 | -€7,629 | -€82,708 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.