SeGal+: 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.
SeGal+
Largest movements
- Tangible fixed assets -€16,113
down €16,113 (-11.7%), from €137,718 to €121,605
of which Furniture and vehicles: -€23,102
- Cash +€10,347
up €10,347 (+11.3%), from €91,811 to €102,159
mainly Depreciation (+€43,649) and Net result for the year (+€12,564)
- Tax, wage and social debts -€23,305
down €23,305 (-52.5%), from €44,375 to €21,070
of which Taxes: -€21,446
- Reserves +€12,564
up €12,564 (+7.1%), from €176,166 to €188,730
- Trade debts +€8,613
up €8,613 (+130%), from €6,644 to €15,257
- Staff costs +€17,325
up €17,325 (+11.2%), from €154,949 to €172,274
- Depreciation +€14,397
up €14,397 (+49.2%), from €29,252 to €43,649
- Gross operating margin +€8,372
up €8,372 (+3.6%), from €229,594 to €237,966
- Taxes -€6,616
down €6,616 (-51.5%), from €12,836 to €6,220
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 | €249,898 | €247,756 | -€2,142 | -0.9% |
| Fixed assets | 21/28 | €138,718 | €124,498 | -€14,220 | -10.3% |
| Intangible fixed assets | 21 | - | €1,893 | +€1,893 | |
| Tangible fixed assets | 22/27 | €137,718 | €121,605 | -€16,113 | -11.7% |
| Land and buildings | 22 | €25,412 | €20,293 | -€5,118 | -20.1% |
| Plant, machinery and equipment | 23 | €35,003 | €47,110 | +€12,107 | +34.6% |
| Furniture and vehicles | 24 | €77,303 | €54,201 | -€23,102 | -29.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €111,180 | €123,258 | +€12,078 | +10.9% |
| Stocks and contracts in progress | 3 | €6,041 | €6,588 | +€546 | +9.0% |
| Stocks | 30/36 | €6,041 | €6,588 | +€546 | +9.0% |
| Amounts receivable within one year | 40/41 | €12,942 | €11,792 | -€1,150 | -8.9% |
| Trade receivables | 40 | €6,504 | €5,312 | -€1,192 | -18.3% |
| Other amounts receivable | 41 | €6,438 | €6,479 | +€42 | +0.6% |
| Cash at bank and in hand | 54/58 | €91,811 | €102,159 | +€10,347 | +11.3% |
| Deferred charges and accrued income | 490/1 | €385 | €2,720 | +€2,335 | +606% |
| Total equity and liabilities | 10/49 | €249,898 | €247,756 | -€2,142 | -0.9% |
| Equity | 10/15 | €194,766 | €207,330 | +€12,564 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,166 | €188,730 | +€12,564 | +7.1% |
| Distributable reserves | 133 | €176,166 | €188,730 | +€12,564 | +7.1% |
| Amounts payable | 17/49 | €55,132 | €40,425 | -€14,706 | -26.7% |
| Amounts payable within one year | 42/48 | €51,019 | €36,481 | -€14,538 | -28.5% |
| Trade debts | 44 | €6,644 | €15,257 | +€8,613 | +130% |
| Suppliers | 440/4 | €6,644 | €15,257 | +€8,613 | +130% |
| Taxes, remuneration and social security | 45 | €44,375 | €21,070 | -€23,305 | -52.5% |
| Taxes | 450/3 | €29,776 | €8,330 | -€21,446 | -72.0% |
| Remuneration and social security | 454/9 | €14,600 | €12,741 | -€1,859 | -12.7% |
| Other amounts payable | 47/48 | - | €154 | +€154 | |
| Accrued charges and deferred income | 492/3 | €4,113 | €3,945 | -€168 | -4.1% |
| Remuneration, social security and pensions | 62 | €154,949 | €172,274 | +€17,325 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,252 | €43,649 | +€14,397 | +49.2% |
| Other operating charges | 640/8 | €2,146 | €1,495 | -€651 | -30.3% |
| Non-recurring operating charges | 66A | €5,161 | - | -€5,161 | |
| Gross operating margin | 9900 | €229,594 | €237,966 | +€8,372 | +3.6% |
| Operating profit (loss) | 9901 | €38,087 | €20,549 | -€17,538 | -46.0% |
| Financial income | 75/76B | €774 | €582 | -€192 | -24.8% |
| Recurring financial income | 75 | €774 | €582 | -€192 | -24.8% |
| Financial charges | 65/66B | €2,556 | €2,347 | -€209 | -8.2% |
| Recurring financial charges | 65 | €2,556 | €2,347 | -€209 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €36,305 | €18,784 | -€17,521 | -48.3% |
| Income taxes | 67/77 | €12,836 | €6,220 | -€6,616 | -51.5% |
| Profit (loss) for the period | 9904 | €23,469 | €12,564 | -€10,905 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,469 | €12,564 | -€10,905 | -46.5% |
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 14 October 2026 via checked.be.