SEGERS: 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.
SEGERS
Largest movements
- Receivables within one year +€12,923
up €12,923 (+426%), from €3,037 to €15,960
of which Trade receivables: +€10,573
- Tangible fixed assets +€1,599
up €1,599 (+31.7%), from €5,038 to €6,637
of which Furniture and vehicles: +€1,856
- Profit (loss) carried forward +€7,662
up €7,662 (+21.9%), from -€34,967 to -€27,305
- Short-term financial debts +€7,512
up €7,512 (+196%), from €3,826 to €11,338
- Debts after one year -€3,375
no longer reported in 2025 (was €3,375)
- Trade debts +€2,296
up €2,296 (+94.8%), from €2,424 to €4,720
- Tax, wage and social debts +€493
up €493 (+153%), from €323 to €817
- Gross operating margin +€1,238
up €1,238 (+9.8%), from €12,620 to €13,859
- Other operating charges +€588
up €588 (+75.9%), from €775 to €1,363
- Financial charges +€481
up €481 (+52.1%), from €923 to €1,405
- Depreciation +€218
up €218 (+7.4%), from €2,924 to €3,141
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,546 | €23,134 | +€14,589 | +171% |
| Fixed assets | 21/28 | €5,038 | €6,637 | +€1,599 | +31.7% |
| Tangible fixed assets | 22/27 | €5,038 | €6,637 | +€1,599 | +31.7% |
| Plant, machinery and equipment | 23 | €2,708 | €2,451 | -€257 | -9.5% |
| Furniture and vehicles | 24 | €2,330 | €4,186 | +€1,856 | +79.7% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Current assets | 29/58 | €3,508 | €16,497 | +€12,989 | +370% |
| Amounts receivable within one year | 40/41 | €3,037 | €15,960 | +€12,923 | +426% |
| Trade receivables | 40 | €2,029 | €12,602 | +€10,573 | +521% |
| Other amounts receivable | 41 | €1,008 | €3,357 | +€2,350 | +233% |
| Deferred charges and accrued income | 490/1 | €471 | €538 | +€66 | +14.1% |
| Total equity and liabilities | 10/49 | €8,546 | €23,134 | +€14,589 | +171% |
| Equity | 10/15 | -€1,403 | €6,259 | +€7,662 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €15,014 | €15,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,721 | €1,721 | = | 0.0% |
| Distributable reserves | 133 | €11,438 | €11,438 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,967 | -€27,305 | +€7,662 | +21.9% |
| Amounts payable | 17/49 | €9,948 | €16,875 | +€6,927 | +69.6% |
| Amounts payable after more than one year | 17 | €3,375 | - | -€3,375 | |
| Financial debts | 170/4 | €3,375 | - | -€3,375 | |
| Amounts payable within one year | 42/48 | €6,573 | €16,875 | +€10,302 | +157% |
| Financial debts | 43 | €3,826 | €11,338 | +€7,512 | +196% |
| Credit institutions | 430/8 | €3,826 | €11,338 | +€7,512 | +196% |
| Trade debts | 44 | €2,424 | €4,720 | +€2,296 | +94.8% |
| Suppliers | 440/4 | €2,424 | €4,720 | +€2,296 | +94.8% |
| Taxes, remuneration and social security | 45 | €323 | €817 | +€493 | +153% |
| Taxes | 450/3 | €323 | €817 | +€493 | +153% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,924 | €3,141 | +€218 | +7.4% |
| Other operating charges | 640/8 | €775 | €1,363 | +€588 | +75.9% |
| Gross operating margin | 9900 | €12,620 | €13,859 | +€1,238 | +9.8% |
| Operating profit (loss) | 9901 | €8,922 | €9,354 | +€432 | +4.8% |
| Financial income | 75/76B | €22 | €37 | +€15 | +65.9% |
| Recurring financial income | 75 | €22 | €37 | +€15 | +65.9% |
| Financial charges | 65/66B | €923 | €1,405 | +€481 | +52.1% |
| Recurring financial charges | 65 | €923 | €1,405 | +€481 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €8,021 | €7,986 | -€35 | -0.4% |
| Income taxes | 67/77 | €323 | €324 | +€1 | +0.2% |
| Profit (loss) for the period | 9904 | €7,697 | €7,662 | -€35 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,697 | €7,662 | -€35 | -0.5% |
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 13 October 2026 via checked.be.