SEFICOOL: what changed
Two fiscal 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.
SEFICOOL
Largest movements
- Receivables within one year +€257,435
up €257,435 (+105.1%), from €244,974 to €502,409
of which Trade receivables: +€256,419
- Cash -€63,101
down €63,101 (-66.6%), from €94,805 to €31,705
mainly Receivables within one year (-€257,435) and Investment in fixed assets (net) (-€31,404)
- Deferred charges and accrued income +€21,771
new in 2025: €21,771
- Tangible fixed assets -€11,226
down €11,226 (-6.0%), from €187,458 to €176,233
of which Land and buildings: -€12,865
- Profit (loss) carried forward +€160,716
up €160,716 (+36.9%), from €434,977 to €595,693
- Trade debts +€44,135
up €44,135 (+142.4%), from €30,985 to €75,120
- Tax, wage and social debts +€22,895
up €22,895 (+128.5%), from €17,823 to €40,719
of which Taxes: +€18,354
- Debts after one year -€14,961
down €14,961 (-17.2%), from €87,233 to €72,272
- Gross operating margin +€97,415
up €97,415 (+42.7%), from €228,320 to €325,736
- Taxes +€28,144
up €28,144 (+81.4%), from €34,588 to €62,732
- Depreciation +€16,232
up €16,232 (+61.5%), from €26,398 to €42,629
- Staff costs -€14,255
down €14,255 (-21.5%), from €66,413 to €52,158
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 | €596,136 | €808,566 | +€212,430 | +35.6% |
| Fixed assets | 21/28 | €187,458 | €176,233 | -€11,226 | -6.0% |
| Tangible fixed assets | 22/27 | €187,458 | €176,233 | -€11,226 | -6.0% |
| Land and buildings | 22 | €150,403 | €137,537 | -€12,865 | -8.6% |
| Furniture and vehicles | 24 | €24,773 | €26,436 | +€1,664 | +6.7% |
| Other tangible fixed assets | 26 | €12,283 | €12,259 | -€24 | -0.2% |
| Current assets | 29/58 | €408,678 | €632,333 | +€223,655 | +54.7% |
| Stocks and contracts in progress | 3 | €65,898 | €73,449 | +€7,550 | +11.5% |
| Stocks | 30/36 | €65,898 | €73,449 | +€7,550 | +11.5% |
| Amounts receivable within one year | 40/41 | €244,974 | €502,409 | +€257,435 | +105.1% |
| Trade receivables | 40 | €211,260 | €467,679 | +€256,419 | +121.4% |
| Other amounts receivable | 41 | €33,714 | €34,730 | +€1,016 | +3.0% |
| Current investments | 50/53 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €94,805 | €31,705 | -€63,101 | -66.6% |
| Deferred charges and accrued income | 490/1 | - | €21,771 | +€21,771 | |
| Total equity and liabilities | 10/49 | €596,136 | €808,566 | +€212,430 | +35.6% |
| Equity | 10/15 | €443,037 | €603,753 | +€160,716 | +36.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €434,977 | €595,693 | +€160,716 | +36.9% |
| Amounts payable | 17/49 | €153,099 | €204,813 | +€51,714 | +33.8% |
| Amounts payable after more than one year | 17 | €87,233 | €72,272 | -€14,961 | -17.2% |
| Financial debts | 170/4 | €87,233 | €72,272 | -€14,961 | -17.2% |
| Amounts payable within one year | 42/48 | €65,165 | €132,498 | +€67,333 | +103.3% |
| Current portion of amounts payable after more than one year | 42 | €14,780 | €14,961 | +€181 | +1.2% |
| Trade debts | 44 | €30,985 | €75,120 | +€44,135 | +142.4% |
| Suppliers | 440/4 | €30,985 | €75,120 | +€44,135 | +142.4% |
| Taxes, remuneration and social security | 45 | €17,823 | €40,719 | +€22,895 | +128.5% |
| Taxes | 450/3 | €16,770 | €35,124 | +€18,354 | +109.4% |
| Remuneration and social security | 454/9 | €1,053 | €5,595 | +€4,542 | +431.2% |
| Other amounts payable | 47/48 | €1,577 | €1,699 | +€121 | +7.7% |
| Accrued charges and deferred income | 492/3 | €701 | €43 | -€658 | -93.9% |
| Remuneration, social security and pensions | 62 | €66,413 | €52,158 | -€14,255 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,398 | €42,629 | +€16,232 | +61.5% |
| Other operating charges | 640/8 | €5,089 | €5,285 | +€196 | +3.9% |
| Gross operating margin | 9900 | €228,320 | €325,736 | +€97,415 | +42.7% |
| Operating profit (loss) | 9901 | €130,420 | €225,663 | +€95,243 | +73.0% |
| Financial income | 75/76B | €17 | €1 | -€16 | -92.1% |
| Recurring financial income | 75 | €17 | €1 | -€16 | -92.1% |
| Financial charges | 65/66B | €1,981 | €2,216 | +€235 | +11.9% |
| Recurring financial charges | 65 | €1,981 | €2,216 | +€235 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €128,456 | €223,448 | +€94,992 | +73.9% |
| Income taxes | 67/77 | €34,588 | €62,732 | +€28,144 | +81.4% |
| Profit (loss) for the period | 9904 | €93,868 | €160,716 | +€66,848 | +71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,868 | €160,716 | +€66,848 | +71.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.