SEFORALINA: what changed
SEFORALINA
Largest movements
- Receivables within one year +€31,858
up €31,858 (+102%), from €31,198 to €63,056
of which Trade receivables: +€20,588
- Tangible fixed assets +€3,670
up €3,670 (+8.5%), from €43,182 to €46,852
- Deferred charges and accrued income +€3,430
up €3,430 (+511%), from €672 to €4,102
- Cash +€1,875
up €1,875 (+775%), from €242 to €2,117
mainly Trade debts (+€20,466) and Net result for the year (+€19,869)
- Trade debts +€20,466
up €20,466 (+204%), from €10,041 to €30,507
- Profit (loss) carried forward +€19,869
up €19,869 (+187%), from €10,602 to €30,471
- Tax, wage and social debts +€11,188
up €11,188 (+55.0%), from €20,338 to €31,527
of which Taxes: +€13,157
- Debts after one year -€9,297
down €9,297 (-69.7%), from €13,331 to €4,034
- Staff costs -€46,993
down €46,993 (-63.1%), from €74,487 to €27,493
- Gross operating margin -€32,443
down €32,443 (-30.6%), from €106,161 to €73,718
- Other operating charges -€9,852
down €9,852 (-84.9%), from €11,607 to €1,755
- Taxes +€7,163
up €7,163 (+291%), from €2,464 to €9,627
- Financial charges +€1,119
up €1,119 (+78.4%), from €1,427 to €2,546
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,344 | €122,138 | +€41,794 | +52.0% |
| Formation expenses | 20 | - | €961 | +€961 | |
| Fixed assets | 21/28 | €48,232 | €51,902 | +€3,670 | +7.6% |
| Tangible fixed assets | 22/27 | €43,182 | €46,852 | +€3,670 | +8.5% |
| Furniture and vehicles | 24 | €43,182 | €46,852 | +€3,670 | +8.5% |
| Financial fixed assets | 28 | €5,050 | €5,050 | = | 0.0% |
| Current assets | 29/58 | €32,112 | €69,275 | +€37,163 | +116% |
| Amounts receivable within one year | 40/41 | €31,198 | €63,056 | +€31,858 | +102% |
| Trade receivables | 40 | €19,707 | €40,295 | +€20,588 | +104% |
| Other amounts receivable | 41 | €11,491 | €22,761 | +€11,270 | +98.1% |
| Cash at bank and in hand | 54/58 | €242 | €2,117 | +€1,875 | +775% |
| Deferred charges and accrued income | 490/1 | €672 | €4,102 | +€3,430 | +511% |
| Total equity and liabilities | 10/49 | €80,344 | €122,138 | +€41,794 | +52.0% |
| Equity | 10/15 | €25,357 | €45,226 | +€19,869 | +78.4% |
| Contributions | 10/11 | €14,483 | €14,483 | = | 0.0% |
| Reserves | 13 | €272 | €272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €272 | €272 | = | 0.0% |
| Reserves not available under the articles | 1311 | €272 | €272 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,602 | €30,471 | +€19,869 | +187% |
| Amounts payable | 17/49 | €54,988 | €76,912 | +€21,925 | +39.9% |
| Amounts payable after more than one year | 17 | €13,331 | €4,034 | -€9,297 | -69.7% |
| Financial debts | 170/4 | €13,331 | €4,034 | -€9,297 | -69.7% |
| Amounts payable within one year | 42/48 | €41,656 | €72,831 | +€31,174 | +74.8% |
| Current portion of amounts payable after more than one year | 42 | €8,777 | €9,297 | +€520 | +5.9% |
| Trade debts | 44 | €10,041 | €30,507 | +€20,466 | +204% |
| Suppliers | 440/4 | €10,041 | €30,507 | +€20,466 | +204% |
| Taxes, remuneration and social security | 45 | €20,338 | €31,527 | +€11,188 | +55.0% |
| Taxes | 450/3 | €9,927 | €23,084 | +€13,157 | +133% |
| Remuneration and social security | 454/9 | €10,411 | €8,443 | -€1,969 | -18.9% |
| Other amounts payable | 47/48 | €2,500 | €1,500 | -€1,000 | -40.0% |
| Accrued charges and deferred income | 492/3 | - | €48 | +€48 | |
| Non-recurring operating income | 76A | €6,212 | - | -€6,212 | |
| Remuneration, social security and pensions | 62 | €74,487 | €27,493 | -€46,993 | -63.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,968 | €12,428 | -€540 | -4.2% |
| Other operating charges | 640/8 | €11,607 | €1,755 | -€9,852 | -84.9% |
| Gross operating margin | 9900 | €106,161 | €73,718 | -€32,443 | -30.6% |
| Operating profit (loss) | 9901 | €7,099 | €32,042 | +€24,943 | +351% |
| Financial charges | 65/66B | €1,427 | €2,546 | +€1,119 | +78.4% |
| Recurring financial charges | 65 | €1,427 | €2,546 | +€1,119 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | €5,672 | €29,496 | +€23,824 | +420% |
| Income taxes | 67/77 | €2,464 | €9,627 | +€7,163 | +291% |
| Profit (loss) for the period | 9904 | €3,208 | €19,869 | +€16,661 | +519% |
| Profit (loss) for the period to be appropriated | 9905 | €3,208 | €19,869 | +€16,661 | +519% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.