Seghaye: 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.
Seghaye
Largest movements
- Tangible fixed assets +€233,071
up €233,071 (+1,395%), from €16,710 to €249,781
of which Land and buildings: +€210,000
- Current investments -€84,309
no longer reported in 2025 (was €84,309)
- Cash +€16,385
new in 2025: €16,385
mainly Debts after one year (+€205,511) and Current investments (+€84,309)
- Receivables within one year -€8,271
down €8,271 (-20.4%), from €40,482 to €32,211
of which Other amounts receivable: -€14,986
- Debts after one year +€205,511
new in 2025: €205,511
of which Financial debts: +€102,900
- Advances received -€98,740
down €98,740 (-92.1%), from €107,240 to €8,500
- Profit (loss) carried forward +€21,856
up €21,856 (+143%), from €15,319 to €37,175
- Accrued charges and deferred income +€9,833
new in 2025: €9,833
- Trade debts +€8,307
up €8,307 (+114%), from €7,285 to €15,592
- Gross operating margin +€14,650
up €14,650 (+13.4%), from €109,248 to €123,898
- Staff costs +€4,756
up €4,756 (+6.8%), from €69,956 to €74,712
- Depreciation +€1,448
up €1,448 (+7.7%), from €18,696 to €20,144
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 | €144,814 | €302,075 | +€157,261 | +109% |
| Fixed assets | 21/28 | €16,710 | €249,781 | +€233,071 | +1,395% |
| Tangible fixed assets | 22/27 | €16,710 | €249,781 | +€233,071 | +1,395% |
| Land and buildings | 22 | - | €210,000 | +€210,000 | |
| Plant, machinery and equipment | 23 | €13,357 | €4,439 | -€8,918 | -66.8% |
| Furniture and vehicles | 24 | €3,353 | €35,342 | +€31,989 | +954% |
| Current assets | 29/58 | €128,104 | €52,294 | -€75,810 | -59.2% |
| Amounts receivable within one year | 40/41 | €40,482 | €32,211 | -€8,271 | -20.4% |
| Trade receivables | 40 | €22,767 | €29,482 | +€6,715 | +29.5% |
| Other amounts receivable | 41 | €17,715 | €2,729 | -€14,986 | -84.6% |
| Current investments | 50/53 | €84,309 | - | -€84,309 | |
| Cash at bank and in hand | 54/58 | - | €16,385 | +€16,385 | |
| Deferred charges and accrued income | 490/1 | €3,313 | €3,698 | +€385 | +11.6% |
| Total equity and liabilities | 10/49 | €144,814 | €302,075 | +€157,261 | +109% |
| Equity | 10/15 | €25,319 | €47,175 | +€21,856 | +86.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,319 | €37,175 | +€21,856 | +143% |
| Amounts payable | 17/49 | €119,495 | €254,900 | +€135,405 | +113% |
| Amounts payable after more than one year | 17 | - | €205,511 | +€205,511 | |
| Financial debts | 170/4 | - | €102,900 | +€102,900 | |
| Other amounts payable | 178/9 | - | €102,611 | +€102,611 | |
| Amounts payable within one year | 42/48 | €119,495 | €39,556 | -€79,939 | -66.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,100 | +€7,100 | |
| Trade debts | 44 | €7,285 | €15,592 | +€8,307 | +114% |
| Suppliers | 440/4 | €7,285 | €15,592 | +€8,307 | +114% |
| Advances received on contracts in progress | 46 | €107,240 | €8,500 | -€98,740 | -92.1% |
| Taxes, remuneration and social security | 45 | €4,970 | €7,364 | +€2,394 | +48.2% |
| Taxes | 450/3 | €4,970 | €5,649 | +€679 | +13.7% |
| Remuneration and social security | 454/9 | - | €1,715 | +€1,715 | |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Accrued charges and deferred income | 492/3 | - | €9,833 | +€9,833 | |
| Remuneration, social security and pensions | 62 | €69,956 | €74,712 | +€4,756 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,696 | €20,144 | +€1,448 | +7.7% |
| Other operating charges | 640/8 | €1,199 | €1,177 | -€22 | -1.8% |
| Gross operating margin | 9900 | €109,248 | €123,898 | +€14,650 | +13.4% |
| Operating profit (loss) | 9901 | €19,397 | €27,865 | +€8,468 | +43.7% |
| Financial income | 75/76B | €553 | €190 | -€363 | -65.6% |
| Recurring financial income | 75 | €553 | €190 | -€363 | -65.6% |
| Financial charges | 65/66B | €203 | €785 | +€582 | +287% |
| Recurring financial charges | 65 | €203 | €785 | +€582 | +287% |
| Profit (loss) for the period before taxes | 9903 | €19,747 | €27,270 | +€7,523 | +38.1% |
| Income taxes | 67/77 | €4,428 | €5,414 | +€986 | +22.3% |
| Profit (loss) for the period | 9904 | €15,319 | €21,856 | +€6,537 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,319 | €21,856 | +€6,537 | +42.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.