SEFICON: 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.
SEFICON
Largest movements
- Current investments +€249,368
new in 2025: €249,368
- Receivables within one year -€71,626
down €71,626 (-45.2%), from €158,447 to €86,821
of which Trade receivables: -€43,000
- Cash -€53,744
down €53,744 (-72.2%), from €74,408 to €20,663
mainly Current investments (-€249,368) and Contributions, distributions and other (-€26,755)
- Tangible fixed assets -€14,103
down €14,103 (-3.2%), from €437,161 to €423,059
of which Land and buildings: -€10,212
- Financial fixed assets -€10,000
down €10,000 (-66.7%), from €15,000 to €5,000
- Reserves +€139,814
up €139,814 (+38.3%), from €365,518 to €505,332
of which Distributable reserves: +€139,814
- Other debts -€25,378
down €25,378 (-34.1%), from €74,427 to €49,049
- Debts after one year -€13,290
down €13,290 (-5.9%), from €226,015 to €212,724
- Tax, wage and social debts -€10,017
down €10,017 (-74.2%), from €13,503 to €3,486
of which Taxes: -€10,291
- Financial income +€64,665
up €64,665 (+130%), from €49,589 to €114,254
- Gross operating margin -€59,706
down €59,706 (-34.0%), from €175,696 to €115,989
- Taxes -€13,867
down €13,867 (-27.6%), from €50,331 to €36,465
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 | €697,818 | €790,129 | +€92,311 | +13.2% |
| Fixed assets | 21/28 | €452,161 | €428,059 | -€24,103 | -5.3% |
| Tangible fixed assets | 22/27 | €437,161 | €423,059 | -€14,103 | -3.2% |
| Land and buildings | 22 | €417,463 | €407,251 | -€10,212 | -2.4% |
| Plant, machinery and equipment | 23 | €2,741 | €2,072 | -€670 | -24.4% |
| Furniture and vehicles | 24 | €12,742 | €10,380 | -€2,363 | -18.5% |
| Other tangible fixed assets | 26 | €4,215 | €3,357 | -€858 | -20.4% |
| Financial fixed assets | 28 | €15,000 | €5,000 | -€10,000 | -66.7% |
| Current assets | 29/58 | €245,656 | €362,070 | +€116,414 | +47.4% |
| Amounts receivable within one year | 40/41 | €158,447 | €86,821 | -€71,626 | -45.2% |
| Trade receivables | 40 | €43,000 | - | -€43,000 | |
| Other amounts receivable | 41 | €115,447 | €86,821 | -€28,626 | -24.8% |
| Current investments | 50/53 | - | €249,368 | +€249,368 | |
| Cash at bank and in hand | 54/58 | €74,408 | €20,663 | -€53,744 | -72.2% |
| Deferred charges and accrued income | 490/1 | €12,801 | €5,218 | -€7,584 | -59.2% |
| Total equity and liabilities | 10/49 | €697,818 | €790,129 | +€92,311 | +13.2% |
| Equity | 10/15 | €368,518 | €508,332 | +€139,814 | +37.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €365,518 | €505,332 | +€139,814 | +38.3% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €365,218 | €505,032 | +€139,814 | +38.3% |
| Amounts payable | 17/49 | €329,299 | €281,796 | -€47,503 | -14.4% |
| Amounts payable after more than one year | 17 | €226,015 | €212,724 | -€13,290 | -5.9% |
| Financial debts | 170/4 | €226,015 | €212,724 | -€13,290 | -5.9% |
| Amounts payable within one year | 42/48 | €102,240 | €68,027 | -€34,213 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €12,751 | €13,290 | +€539 | +4.2% |
| Trade debts | 44 | €1,558 | €2,202 | +€644 | +41.3% |
| Suppliers | 440/4 | €1,558 | €2,202 | +€644 | +41.3% |
| Taxes, remuneration and social security | 45 | €13,503 | €3,486 | -€10,017 | -74.2% |
| Taxes | 450/3 | €10,291 | - | -€10,291 | |
| Remuneration and social security | 454/9 | €3,212 | €3,486 | +€274 | +8.5% |
| Other amounts payable | 47/48 | €74,427 | €49,049 | -€25,378 | -34.1% |
| Accrued charges and deferred income | 492/3 | €1,045 | €1,045 | = | 0.0% |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,292 | €14,702 | +€410 | +2.9% |
| Other operating charges | 640/8 | €2,031 | €1,465 | -€566 | -27.9% |
| Gross operating margin | 9900 | €175,696 | €115,989 | -€59,706 | -34.0% |
| Operating profit (loss) | 9901 | €159,373 | €99,823 | -€59,550 | -37.4% |
| Financial income | 75/76B | €49,589 | €114,254 | +€64,665 | +130% |
| Recurring financial income | 75 | €49,589 | €114,254 | +€64,665 | +130% |
| Financial charges | 65/66B | €12,367 | €11,042 | -€1,325 | -10.7% |
| Recurring financial charges | 65 | €12,367 | €11,042 | -€1,325 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €196,595 | €203,034 | +€6,439 | +3.3% |
| Income taxes | 67/77 | €50,331 | €36,465 | -€13,867 | -27.6% |
| Profit (loss) for the period | 9904 | €146,264 | €166,570 | +€20,305 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €146,264 | €166,570 | +€20,305 | +13.9% |
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 24 October 2026 via checked.be.