SEGHERS - BPA: 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.
SEGHERS - BPA
Largest movements
- Cash +€27,949
up €27,949 (+28.7%), from €97,347 to €125,297
mainly Other debts (+€60,650) and Net result for the year (+€25,025)
- Receivables within one year +€17,887
up €17,887 (+158%), from €11,344 to €29,232
of which Other amounts receivable: +€15,558
- Tangible fixed assets -€4,741
down €4,741 (-14.2%), from €33,369 to €28,628
of which Furniture and vehicles: -€5,335
- Other debts +€60,650
up €60,650 (+134%), from €45,301 to €105,951
- Provisions -€14,303
down €14,303 (-33.9%), from €42,216 to €27,913
- Debts after one year -€7,549
down €7,549 (-54.3%), from €13,897 to €6,348
- Tax, wage and social debts -€4,463
down €4,463 (-30.2%), from €14,801 to €10,337
- Reserves +€3,536
up €3,536 (+6.9%), from €50,979 to €54,515
- Provisions -€33,442
down €33,442, from €19,140 to -€14,303
- Financial charges +€32,526
up €32,526 (+143%), from €22,673 to €55,199
- Gross operating margin +€20,746
up €20,746 (+35.6%), from €58,260 to €79,006
- Other operating charges -€1,037
down €1,037 (-60.0%), from €1,727 to €690
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 | €191,193 | €230,469 | +€39,276 | +20.5% |
| Fixed assets | 21/28 | €33,419 | €28,628 | -€4,791 | -14.3% |
| Tangible fixed assets | 22/27 | €33,369 | €28,628 | -€4,741 | -14.2% |
| Furniture and vehicles | 24 | €30,206 | €24,870 | -€5,335 | -17.7% |
| Other tangible fixed assets | 26 | €3,163 | €3,758 | +€595 | +18.8% |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €157,774 | €201,841 | +€44,066 | +27.9% |
| Amounts receivable within one year | 40/41 | €11,344 | €29,232 | +€17,887 | +158% |
| Trade receivables | 40 | €11,344 | €13,674 | +€2,329 | +20.5% |
| Other amounts receivable | 41 | - | €15,558 | +€15,558 | |
| Current investments | 50/53 | €48,843 | €47,072 | -€1,771 | -3.6% |
| Cash at bank and in hand | 54/58 | €97,347 | €125,297 | +€27,949 | +28.7% |
| Deferred charges and accrued income | 490/1 | €240 | €240 | = | 0.0% |
| Total equity and liabilities | 10/49 | €191,193 | €230,469 | +€39,276 | +20.5% |
| Equity | 10/15 | €63,379 | €66,915 | +€3,536 | +5.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €50,979 | €54,515 | +€3,536 | +6.9% |
| Distributable reserves | 133 | €50,979 | €54,515 | +€3,536 | +6.9% |
| Provisions and deferred taxes | 16 | €42,216 | €27,913 | -€14,303 | -33.9% |
| Provisions for liabilities and charges | 160/5 | €42,216 | €27,913 | -€14,303 | -33.9% |
| Environmental obligations | 163 | €42,216 | €27,913 | -€14,303 | -33.9% |
| Amounts payable | 17/49 | €85,598 | €135,641 | +€50,042 | +58.5% |
| Amounts payable after more than one year | 17 | €13,897 | €6,348 | -€7,549 | -54.3% |
| Financial debts | 170/4 | €13,897 | €6,348 | -€7,549 | -54.3% |
| Amounts payable within one year | 42/48 | €69,073 | €123,957 | +€54,884 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €8,963 | €7,549 | -€1,414 | -15.8% |
| Trade debts | 44 | €9 | €119 | +€111 | +1,283% |
| Suppliers | 440/4 | €9 | €119 | +€111 | +1,283% |
| Taxes, remuneration and social security | 45 | €14,801 | €10,337 | -€4,463 | -30.2% |
| Taxes | 450/3 | €14,801 | €10,337 | -€4,463 | -30.2% |
| Other amounts payable | 47/48 | €45,301 | €105,951 | +€60,650 | +134% |
| Accrued charges and deferred income | 492/3 | €2,628 | €5,336 | +€2,708 | +103% |
| Non-recurring operating income | 76A | €1,795 | - | -€1,795 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,341 | €6,586 | +€245 | +3.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €19,140 | -€14,303 | -€33,442 | |
| Other operating charges | 640/8 | €1,727 | €690 | -€1,037 | -60.0% |
| Non-recurring operating charges | 66A | €470 | - | -€470 | |
| Gross operating margin | 9900 | €58,260 | €79,006 | +€20,746 | +35.6% |
| Operating profit (loss) | 9901 | €30,583 | €86,033 | +€55,450 | +181% |
| Financial income | 75/76B | €566 | €911 | +€346 | +61.1% |
| Recurring financial income | 75 | €566 | €911 | +€346 | +61.1% |
| Financial charges | 65/66B | €22,673 | €55,199 | +€32,526 | +143% |
| Recurring financial charges | 65 | €22,673 | €55,199 | +€32,526 | +143% |
| Profit (loss) for the period before taxes | 9903 | €8,476 | €31,745 | +€23,269 | +275% |
| Income taxes | 67/77 | €6,447 | €6,720 | +€273 | +4.2% |
| Profit (loss) for the period | 9904 | €2,029 | €25,025 | +€22,996 | +1,133% |
| Profit (loss) for the period to be appropriated | 9905 | €2,029 | €25,025 | +€22,996 | +1,133% |
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 29 October 2026 via checked.be.