Seghers Johan: what changed
Two fiscal 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 Johan
Largest movements
- Tangible fixed assets +€18,117
up €18,117 (+17.2%), from €105,515 to €123,632
of which Leasing and similar rights: +€21,818
- Cash -€9,905
down €9,905 (-9.2%), from €107,284 to €97,379
mainly Investment in fixed assets (net) (-€48,828) and Contributions, distributions and other (-€18,260)
- Deferred charges and accrued income +€3,280
up €3,280 (+172.5%), from €1,902 to €5,183
- Debts after one year +€9,498
up €9,498 (+15.5%), from €61,455 to €70,954
- Current portion of long-term debt +€4,580
up €4,580 (+15.2%), from €30,040 to €34,620
- Gross operating margin -€14,581
down €14,581 (-19.1%), from €76,251 to €61,670
- Depreciation -€5,781
down €5,781 (-15.8%), from €36,492 to €30,711
- Taxes -€3,644
down €3,644 (-37.2%), from €9,783 to €6,139
- Other operating charges +€2,102
up €2,102 (+63.1%), from €3,330 to €5,433
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.
Cash bridge derived
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 | €229,187 | €242,345 | +€13,158 | +5.7% |
| Fixed assets | 21/28 | €105,515 | €123,632 | +€18,117 | +17.2% |
| Tangible fixed assets | 22/27 | €105,515 | €123,632 | +€18,117 | +17.2% |
| Plant, machinery and equipment | 23 | €17,816 | €14,898 | -€2,918 | -16.4% |
| Furniture and vehicles | 24 | €2,958 | €2,175 | -€783 | -26.5% |
| Leasing and similar rights | 25 | €84,741 | €106,559 | +€21,818 | +25.7% |
| Current assets | 29/58 | €123,671 | €118,712 | -€4,959 | -4.0% |
| Stocks and contracts in progress | 3 | €4,100 | €4,100 | = | 0.0% |
| Stocks | 30/36 | €4,100 | €4,100 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,385 | €12,051 | +€1,665 | +16.0% |
| Trade receivables | 40 | €2,886 | €968 | -€1,917 | -66.4% |
| Other amounts receivable | 41 | €7,500 | €11,082 | +€3,583 | +47.8% |
| Cash at bank and in hand | 54/58 | €107,284 | €97,379 | -€9,905 | -9.2% |
| Deferred charges and accrued income | 490/1 | €1,902 | €5,183 | +€3,280 | +172.5% |
| Total equity and liabilities | 10/49 | €229,187 | €242,345 | +€13,158 | +5.7% |
| Equity | 10/15 | €109,042 | €107,012 | -€2,031 | -1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,842 | €100,812 | -€2,031 | -2.0% |
| Distributable reserves | 133 | €102,842 | €100,812 | -€2,031 | -2.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €120,144 | €135,333 | +€15,189 | +12.6% |
| Amounts payable after more than one year | 17 | €61,455 | €70,954 | +€9,498 | +15.5% |
| Financial debts | 170/4 | €61,455 | €70,954 | +€9,498 | +15.5% |
| Amounts payable within one year | 42/48 | €58,624 | €64,312 | +€5,689 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €30,040 | €34,620 | +€4,580 | +15.2% |
| Trade debts | 44 | €18,615 | €20,408 | +€1,793 | +9.6% |
| Suppliers | 440/4 | €18,615 | €20,408 | +€1,793 | +9.6% |
| Taxes, remuneration and social security | 45 | €2,932 | €2,716 | -€217 | -7.4% |
| Taxes | 450/3 | €2,932 | €2,716 | -€217 | -7.4% |
| Other amounts payable | 47/48 | €7,035 | €6,568 | -€467 | -6.6% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,492 | €30,711 | -€5,781 | -15.8% |
| Other operating charges | 640/8 | €3,330 | €5,433 | +€2,102 | +63.1% |
| Gross operating margin | 9900 | €76,251 | €61,670 | -€14,581 | -19.1% |
| Operating profit (loss) | 9901 | €36,428 | €25,526 | -€10,902 | -29.9% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €2,594 | €3,162 | +€568 | +21.9% |
| Recurring financial charges | 65 | €2,594 | €3,162 | +€568 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €33,834 | €22,369 | -€11,466 | -33.9% |
| Income taxes | 67/77 | €9,783 | €6,139 | -€3,644 | -37.2% |
| Profit (loss) for the period | 9904 | €24,051 | €16,229 | -€7,822 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,051 | €16,229 | -€7,822 | -32.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.