SEGATI: 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.
SEGATI
Largest movements
- Receivables within one year +€34,282
up €34,282 (+103%), from €33,442 to €67,724
- Cash -€13,226
down €13,226 (-21.0%), from €63,120 to €49,894
mainly Debts after one year (-€60,914) and Investment in fixed assets (net) (-€50,625)
- Debts after one year -€60,914
down €60,914 (-14.0%), from €436,576 to €375,662
of which Financial debts: -€30,959
- Other debts +€50,814
up €50,814 (+243%), from €20,900 to €71,714
- Trade debts +€21,046
up €21,046 (+349%), from €6,036 to €27,082
- Gross operating margin +€5,815
up €5,815 (+4.2%), from €137,906 to €143,721
- Depreciation +€5,495
up €5,495 (+13.9%), from €39,417 to €44,912
- Financial charges -€3,562
down €3,562 (-18.1%), from €19,661 to €16,099
- Other operating charges +€3,152
up €3,152 (+114%), from €2,767 to €5,919
- Financial income -€2,823
down €2,823 (-86.1%), from €3,278 to €455
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 | €885,586 | €916,116 | +€30,530 | +3.4% |
| Fixed assets | 21/28 | €729,014 | €734,727 | +€5,713 | +0.8% |
| Tangible fixed assets | 22/27 | €719,014 | €724,727 | +€5,713 | +0.8% |
| Land and buildings | 22 | €691,172 | €702,901 | +€11,729 | +1.7% |
| Plant, machinery and equipment | 23 | €15,442 | €11,668 | -€3,774 | -24.4% |
| Furniture and vehicles | 24 | €3,481 | €2,580 | -€901 | -25.9% |
| Other tangible fixed assets | 26 | €8,919 | €7,578 | -€1,341 | -15.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €156,572 | €181,390 | +€24,818 | +15.9% |
| Amounts receivable within one year | 40/41 | €33,442 | €67,724 | +€34,282 | +103% |
| Trade receivables | 40 | €33,442 | €67,724 | +€34,282 | +103% |
| Cash at bank and in hand | 54/58 | €63,120 | €49,894 | -€13,226 | -21.0% |
| Deferred charges and accrued income | 490/1 | €60,010 | €63,772 | +€3,762 | +6.3% |
| Total equity and liabilities | 10/49 | €885,586 | €916,116 | +€30,530 | +3.4% |
| Equity | 10/15 | €358,956 | €365,876 | +€6,920 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €259,860 | €267,860 | +€8,000 | +3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €258,000 | €266,000 | +€8,000 | +3.1% |
| Profit (loss) carried forward | 14 | €80,496 | €79,416 | -€1,080 | -1.3% |
| Amounts payable | 17/49 | €526,630 | €550,240 | +€23,610 | +4.5% |
| Amounts payable after more than one year | 17 | €436,576 | €375,662 | -€60,914 | -14.0% |
| Financial debts | 170/4 | €365,585 | €334,626 | -€30,959 | -8.5% |
| Other amounts payable | 178/9 | €70,991 | €41,037 | -€29,954 | -42.2% |
| Amounts payable within one year | 42/48 | €90,054 | €174,578 | +€84,524 | +93.9% |
| Current portion of amounts payable after more than one year | 42 | €54,342 | €59,286 | +€4,944 | +9.1% |
| Trade debts | 44 | €6,036 | €27,082 | +€21,046 | +349% |
| Suppliers | 440/4 | €6,036 | €27,082 | +€21,046 | +349% |
| Taxes, remuneration and social security | 45 | €8,776 | €16,496 | +€7,720 | +88.0% |
| Taxes | 450/3 | €8,776 | €16,496 | +€7,720 | +88.0% |
| Other amounts payable | 47/48 | €20,900 | €71,714 | +€50,814 | +243% |
| Non-recurring operating income | 76A | €3,457 | €372 | -€3,085 | -89.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,417 | €44,912 | +€5,495 | +13.9% |
| Other operating charges | 640/8 | €2,767 | €5,919 | +€3,152 | +114% |
| Non-recurring operating charges | 66A | €1 | €9 | +€8 | +819% |
| Gross operating margin | 9900 | €137,906 | €143,721 | +€5,815 | +4.2% |
| Operating profit (loss) | 9901 | €95,721 | €92,880 | -€2,841 | -3.0% |
| Financial income | 75/76B | €3,278 | €455 | -€2,823 | -86.1% |
| Recurring financial income | 75 | €3,278 | €455 | -€2,823 | -86.1% |
| Financial charges | 65/66B | €19,661 | €16,099 | -€3,562 | -18.1% |
| Recurring financial charges | 65 | €19,661 | €16,099 | -€3,562 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €79,338 | €77,236 | -€2,102 | -2.6% |
| Income taxes | 67/77 | €25,514 | €26,316 | +€802 | +3.1% |
| Profit (loss) for the period | 9904 | €53,824 | €50,920 | -€2,904 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,824 | €50,920 | -€2,904 | -5.4% |
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 27 October 2026 via checked.be.