SEGEPAT: 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.
SEGEPAT
Largest movements
- Cash -€14,394
down €14,394 (-37.6%), from €38,234 to €23,840
mainly Trade debts (-€6,500) and Net result for the year (-€4,835)
- Trade debts -€6,500
no longer reported in 2025 (was €6,500)
- Reserves -€4,835
down €4,835 (-5.9%), from €81,538 to €76,703
of which Distributable reserves: -€4,835
- Gross operating margin -€4,953
down €4,953, from €3,311 to -€1,642
- Other operating charges -€348
down €348 (-9.9%), from €3,510 to €3,163
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 | €423,509 | €411,359 | -€12,150 | -2.9% |
| Fixed assets | 21/28 | €64,452 | €64,452 | = | 0.0% |
| Tangible fixed assets | 22/27 | €64,452 | €64,452 | = | 0.0% |
| Land and buildings | 22 | €64,452 | €64,452 | = | 0.0% |
| Current assets | 29/58 | €359,056 | €346,907 | -€12,150 | -3.4% |
| Amounts receivable within one year | 40/41 | €320,823 | €323,067 | +€2,244 | +0.7% |
| Other amounts receivable | 41 | €320,823 | €323,067 | +€2,244 | +0.7% |
| Cash at bank and in hand | 54/58 | €38,234 | €23,840 | -€14,394 | -37.6% |
| Total equity and liabilities | 10/49 | €423,509 | €411,359 | -€12,150 | -2.9% |
| Equity | 10/15 | €416,194 | €411,359 | -€4,835 | -1.2% |
| Contributions | 10/11 | €334,656 | €334,656 | = | 0.0% |
| Capital | 10 | €334,656 | €334,656 | = | 0.0% |
| Issued capital | 100 | €334,656 | €334,656 | = | 0.0% |
| Reserves | 13 | €81,538 | €76,703 | -€4,835 | -5.9% |
| Non-distributable reserves | 130/1 | €33,466 | €33,466 | = | 0.0% |
| Legal reserve | 130 | €33,466 | €33,466 | = | 0.0% |
| Distributable reserves | 133 | €48,072 | €43,237 | -€4,835 | -10.1% |
| Amounts payable | 17/49 | €7,315 | - | -€7,315 | |
| Amounts payable within one year | 42/48 | €7,315 | - | -€7,315 | |
| Trade debts | 44 | €6,500 | - | -€6,500 | |
| Suppliers | 440/4 | €6,500 | - | -€6,500 | |
| Taxes, remuneration and social security | 45 | €476 | - | -€476 | |
| Taxes | 450/3 | €476 | - | -€476 | |
| Other amounts payable | 47/48 | €339 | - | -€339 | |
| Other operating charges | 640/8 | €3,510 | €3,163 | -€348 | -9.9% |
| Gross operating margin | 9900 | €3,311 | -€1,642 | -€4,953 | |
| Operating profit (loss) | 9901 | -€199 | -€4,805 | -€4,606 | -2,315% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€227 | -€4,835 | -€4,607 | -2,025% |
| Profit (loss) for the period | 9904 | -€227 | -€4,835 | -€4,607 | -2,025% |
| Profit (loss) for the period to be appropriated | 9905 | -€227 | -€4,835 | -€4,607 | -2,025% |
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 15 October 2026 via checked.be.