SEGICA: 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.
SEGICA
Largest movements
- Tangible fixed assets -€23,310
down €23,310 (-7.2%), from €322,575 to €299,266
- Deferred charges and accrued income +€5,484
up €5,484 (+17.6%), from €31,159 to €36,644
- Cash +€4,310
up €4,310 (+56.0%), from €7,698 to €12,008
mainly Depreciation (+€28,450) and Other debts (+€6,511)
- Reserves -€12,675
down €12,675 (-4.8%), from €264,046 to €251,371
of which Distributable reserves: -€6,500
- Debts after one year -€9,256
down €9,256 (-23.8%), from €38,839 to €29,583
- Other debts +€6,511
up €6,511 (+20.0%), from €32,553 to €39,064
- Accrued charges and deferred income +€6,173
new in 2025: €6,173
- Gross operating margin -€5,098
down €5,098 (-12.3%), from €41,326 to €36,227
- Provisions +€3,000
no longer reported in 2025 (was -€3,000)
- Depreciation +€1,081
up €1,081 (+3.9%), from €27,369 to €28,450
- Other operating charges +€730
up €730 (+3.6%), from €20,340 to €21,071
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 | €422,324 | €408,621 | -€13,703 | -3.2% |
| Fixed assets | 21/28 | €322,575 | €299,266 | -€23,310 | -7.2% |
| Tangible fixed assets | 22/27 | €322,575 | €299,266 | -€23,310 | -7.2% |
| Land and buildings | 22 | €322,575 | €299,266 | -€23,310 | -7.2% |
| Current assets | 29/58 | €99,749 | €109,355 | +€9,606 | +9.6% |
| Amounts receivable after more than one year | 29 | €59,000 | €59,000 | = | 0.0% |
| Other amounts receivable | 291 | €59,000 | €59,000 | = | 0.0% |
| Current investments | 50/53 | €1,891 | €1,703 | -€188 | -9.9% |
| Cash at bank and in hand | 54/58 | €7,698 | €12,008 | +€4,310 | +56.0% |
| Deferred charges and accrued income | 490/1 | €31,159 | €36,644 | +€5,484 | +17.6% |
| Total equity and liabilities | 10/49 | €422,324 | €408,621 | -€13,703 | -3.2% |
| Equity | 10/15 | €326,054 | €313,536 | -€12,518 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €264,046 | €251,371 | -€12,675 | -4.8% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,046 | €37,871 | -€6,175 | -14.0% |
| Distributable reserves | 133 | €185,000 | €178,500 | -€6,500 | -3.5% |
| Profit (loss) carried forward | 14 | €8 | €165 | +€157 | +1,893% |
| Provisions and deferred taxes | 16 | €11,012 | €9,468 | -€1,544 | -14.0% |
| Deferred taxes | 168 | €11,012 | €9,468 | -€1,544 | -14.0% |
| Amounts payable | 17/49 | €85,258 | €85,616 | +€358 | +0.4% |
| Amounts payable after more than one year | 17 | €38,839 | €29,583 | -€9,256 | -23.8% |
| Financial debts | 170/4 | €38,839 | €29,583 | -€9,256 | -23.8% |
| Amounts payable within one year | 42/48 | €46,420 | €49,861 | +€3,441 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €9,095 | €9,256 | +€161 | +1.8% |
| Trade debts | 44 | €4,769 | €1,541 | -€3,229 | -67.7% |
| Suppliers | 440/4 | €4,769 | €1,541 | -€3,229 | -67.7% |
| Taxes, remuneration and social security | 45 | €2 | - | -€2 | |
| Taxes | 450/3 | €2 | - | -€2 | |
| Other amounts payable | 47/48 | €32,553 | €39,064 | +€6,511 | +20.0% |
| Accrued charges and deferred income | 492/3 | - | €6,173 | +€6,173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,369 | €28,450 | +€1,081 | +3.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,000 | - | +€3,000 | |
| Other operating charges | 640/8 | €20,340 | €21,071 | +€730 | +3.6% |
| Gross operating margin | 9900 | €41,326 | €36,227 | -€5,098 | -12.3% |
| Operating profit (loss) | 9901 | -€3,384 | -€13,293 | -€9,909 | -293% |
| Financial income | 75/76B | €600 | €592 | -€8 | -1.3% |
| Recurring financial income | 75 | €600 | €592 | -€8 | -1.3% |
| Financial charges | 65/66B | €1,512 | €1,360 | -€152 | -10.1% |
| Recurring financial charges | 65 | €1,512 | €1,360 | -€152 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,296 | -€14,061 | -€9,765 | -227% |
| Transfer from deferred taxes | 780 | €1,472 | €1,544 | +€71 | +4.9% |
| Income taxes | 67/77 | €2 | €0 | -€2 | -81.2% |
| Profit (loss) for the period | 9904 | -€2,826 | -€12,518 | -€9,692 | -343% |
| Transfer from tax-exempt reserves | 789 | €5,889 | €6,175 | +€286 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,063 | -€6,343 | -€9,406 |
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.