SEGEMO: 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.
SEGEMO
Largest movements
- Cash +€136,285
up €136,285 (+3971.8%), from €3,431 to €139,717
mainly Other debts (+€175,000) and Net result for the year (+€45,643)
- Receivables within one year +€15,629
up €15,629 (+5.8%), from €268,301 to €283,930
of which Other amounts receivable: +€40,991
- Other debts +€175,000
up €175,000 (+3500.0%), from €5,000 to €180,000
- Profit (loss) carried forward -€59,857
down €59,857 (-92.9%), from €64,428 to €4,571
- Reserves +€45,500
up €45,500 (+24.9%), from €182,700 to €228,200
of which Distributable reserves: +€45,500
- Trade debts -€19,993
down €19,993 (-64.8%), from €30,859 to €10,866
- Tax, wage and social debts +€7,423
up €7,423 (+125.6%), from €5,911 to €13,334
- Gross operating margin +€43,002
up €43,002 (+157.1%), from €27,379 to €70,382
- Taxes +€13,648
up €13,648 (+150.6%), from €9,062 to €22,710
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 | €426,728 | €576,337 | +€149,608 | +35.1% |
| Fixed assets | 21/28 | €154,996 | €152,690 | -€2,306 | -1.5% |
| Tangible fixed assets | 22/27 | €4,940 | €2,634 | -€2,306 | -46.7% |
| Plant, machinery and equipment | 23 | €4,940 | €2,634 | -€2,306 | -46.7% |
| Financial fixed assets | 28 | €150,056 | €150,056 | = | 0.0% |
| Current assets | 29/58 | €271,733 | €423,647 | +€151,914 | +55.9% |
| Amounts receivable within one year | 40/41 | €268,301 | €283,930 | +€15,629 | +5.8% |
| Trade receivables | 40 | €48,954 | €23,592 | -€25,362 | -51.8% |
| Other amounts receivable | 41 | €219,347 | €260,338 | +€40,991 | +18.7% |
| Cash at bank and in hand | 54/58 | €3,431 | €139,717 | +€136,285 | +3971.8% |
| Total equity and liabilities | 10/49 | €426,728 | €576,337 | +€149,608 | +35.1% |
| Equity | 10/15 | €267,128 | €252,771 | -€14,357 | -5.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €182,700 | €228,200 | +€45,500 | +24.9% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €167,700 | €213,200 | +€45,500 | +27.1% |
| Profit (loss) carried forward | 14 | €64,428 | €4,571 | -€59,857 | -92.9% |
| Amounts payable | 17/49 | €159,600 | €323,566 | +€163,965 | +102.7% |
| Amounts payable within one year | 42/48 | €159,600 | €323,566 | +€163,965 | +102.7% |
| Financial debts | 43 | €2,038 | €510 | -€1,528 | -75.0% |
| Credit institutions | 430/8 | €2,038 | €510 | -€1,528 | -75.0% |
| Trade debts | 44 | €30,859 | €10,866 | -€19,993 | -64.8% |
| Suppliers | 440/4 | €30,859 | €10,866 | -€19,993 | -64.8% |
| Advances received on contracts in progress | 46 | €115,793 | €118,856 | +€3,064 | +2.6% |
| Taxes, remuneration and social security | 45 | €5,911 | €13,334 | +€7,423 | +125.6% |
| Taxes | 450/3 | €5,911 | €13,334 | +€7,423 | +125.6% |
| Other amounts payable | 47/48 | €5,000 | €180,000 | +€175,000 | +3500.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,978 | €2,306 | +€328 | +16.6% |
| Other operating charges | 640/8 | - | €0 | +€0 | |
| Gross operating margin | 9900 | €27,379 | €70,382 | +€43,002 | +157.1% |
| Operating profit (loss) | 9901 | €25,401 | €68,075 | +€42,675 | +168.0% |
| Financial income | 75/76B | €58 | €514 | +€456 | +792.5% |
| Recurring financial income | 75 | €58 | €514 | +€456 | +792.5% |
| Financial charges | 65/66B | €611 | €237 | -€374 | -61.3% |
| Recurring financial charges | 65 | €611 | €237 | -€374 | -61.3% |
| Profit (loss) for the period before taxes | 9903 | €24,848 | €68,353 | +€43,505 | +175.1% |
| Income taxes | 67/77 | €9,062 | €22,710 | +€13,648 | +150.6% |
| Profit (loss) for the period | 9904 | €15,786 | €45,643 | +€29,857 | +189.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,786 | €45,643 | +€29,857 | +189.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.