Segers LBM: 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 LBM
Largest movements
- Cash +€216,133
up €216,133 (+1,462%), from €14,782 to €230,915
mainly Debts after one year (+€306,148) and Other debts (+€112,588)
- Tangible fixed assets +€171,953
up €171,953 (+50.5%), from €340,414 to €512,366
of which Furniture and vehicles: +€138,952
- Receivables within one year -€33,995
down €33,995 (-21.7%), from €156,931 to €122,937
of which Other amounts receivable: -€29,440
- Stocks and contracts -€32,192
down €32,192 (-27.1%), from €119,000 to €86,808
- Debts after one year +€306,148
new in 2025: €306,148
- Trade debts -€223,016
down €223,016 (-50.2%), from €443,928 to €220,912
- Other debts +€112,588
up €112,588 (+74.2%), from €151,731 to €264,319
- Reserves +€72,422
up €72,422 (+288%), from €25,123 to €97,545
- Tax, wage and social debts +€37,496
up €37,496 (+449%), from €8,345 to €45,840
- Gross operating margin +€64,650
up €64,650 (+119%), from €54,172 to €118,822
- Taxes +€11,936
up €11,936 (+196%), from €6,075 to €18,011
- Other operating charges -€9,973
down €9,973 (-92.8%), from €10,742 to €769
- Financial charges +€8,033
up €8,033 (+300%), from €2,680 to €10,712
- Depreciation +€7,983
up €7,983 (+83.6%), from €9,554 to €17,536
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 | €631,127 | €954,188 | +€323,061 | +51.2% |
| Fixed assets | 21/28 | €340,414 | €513,529 | +€173,115 | +50.9% |
| Tangible fixed assets | 22/27 | €340,414 | €512,366 | +€171,953 | +50.5% |
| Plant, machinery and equipment | 23 | €73,692 | €79,007 | +€5,314 | +7.2% |
| Furniture and vehicles | 24 | €10,902 | €149,853 | +€138,952 | +1,275% |
| Assets under construction and advance payments | 27 | €255,820 | €283,506 | +€27,687 | +10.8% |
| Financial fixed assets | 28 | - | €1,163 | +€1,163 | |
| Current assets | 29/58 | €290,713 | €440,659 | +€149,946 | +51.6% |
| Stocks and contracts in progress | 3 | €119,000 | €86,808 | -€32,192 | -27.1% |
| Stocks | 30/36 | €119,000 | €86,808 | -€32,192 | -27.1% |
| Amounts receivable within one year | 40/41 | €156,931 | €122,937 | -€33,995 | -21.7% |
| Trade receivables | 40 | €127,492 | €122,937 | -€4,555 | -3.6% |
| Other amounts receivable | 41 | €29,440 | €0 | -€29,440 | -100% |
| Cash at bank and in hand | 54/58 | €14,782 | €230,915 | +€216,133 | +1,462% |
| Total equity and liabilities | 10/49 | €631,127 | €954,188 | +€323,061 | +51.2% |
| Equity | 10/15 | €27,123 | €99,545 | +€72,422 | +267% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €25,123 | €97,545 | +€72,422 | +288% |
| Distributable reserves | 133 | €25,123 | €97,545 | +€72,422 | +288% |
| Amounts payable | 17/49 | €604,003 | €854,643 | +€250,640 | +41.5% |
| Amounts payable after more than one year | 17 | - | €306,148 | +€306,148 | |
| Financial debts | 170/4 | - | €306,148 | +€306,148 | |
| Amounts payable within one year | 42/48 | €604,003 | €548,495 | -€55,509 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | - | €17,423 | +€17,423 | |
| Trade debts | 44 | €443,928 | €220,912 | -€223,016 | -50.2% |
| Suppliers | 440/4 | €443,928 | €220,912 | -€223,016 | -50.2% |
| Taxes, remuneration and social security | 45 | €8,345 | €45,840 | +€37,496 | +449% |
| Taxes | 450/3 | €8,345 | €45,840 | +€37,496 | +449% |
| Other amounts payable | 47/48 | €151,731 | €264,319 | +€112,588 | +74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,554 | €17,536 | +€7,983 | +83.6% |
| Other operating charges | 640/8 | €10,742 | €769 | -€9,973 | -92.8% |
| Gross operating margin | 9900 | €54,172 | €118,822 | +€64,650 | +119% |
| Operating profit (loss) | 9901 | €33,876 | €100,516 | +€66,640 | +197% |
| Financial income | 75/76B | €2 | €630 | +€628 | +27,766% |
| Recurring financial income | 75 | €2 | €630 | +€628 | +27,766% |
| Financial charges | 65/66B | €2,680 | €10,712 | +€8,033 | +300% |
| Recurring financial charges | 65 | €2,680 | €10,712 | +€8,033 | +300% |
| Profit (loss) for the period before taxes | 9903 | €31,199 | €90,433 | +€59,234 | +190% |
| Income taxes | 67/77 | €6,075 | €18,011 | +€11,936 | +196% |
| Profit (loss) for the period | 9904 | €25,123 | €72,422 | +€47,298 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €25,123 | €72,422 | +€47,298 | +188% |
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 20 October 2026 via checked.be.