SEGINVEST: 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.
SEGINVEST
Largest movements
- Cash -€268,243
down €268,243 (-92.1%), from €291,358 to €23,116
mainly Net result for the year (-€192,125) and Investment in fixed assets (net) (-€190,019)
- Tangible fixed assets -€54,980
down €54,980 (-1.5%), from €3.6m to €3.5m
of which Land and buildings: -€103,119
- Profit (loss) carried forward -€113,814
down €113,814 (-21.9%), from €519,566 to €405,752
- Debts after one year -€112,599
down €112,599 (-4.6%), from €2.5m to €2.4m
- Reserves -€78,310
down €78,310 (-28.1%), from €278,544 to €200,233
of which Tax-exempt reserves: -€78,310
- Other debts +€54,723
up €54,723 (+24.3%), from €225,247 to €279,971
- Trade debts -€50,388
down €50,388 (-80.8%), from €62,392 to €12,004
- Depreciation +€37,249
up €37,249 (+17.9%), from €207,750 to €244,999
- Gross operating margin +€26,620
up €26,620 (+11.7%), from €227,607 to €254,227
- Staff costs +€24,673
up €24,673 (+23.6%), from €104,345 to €129,017
- Financial charges -€3,148
down €3,148 (-5.8%), from €54,357 to €51,208
- Other operating charges +€2,664
up €2,664 (+6.8%), from €38,916 to €41,580
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 | €3,882,354 | €3,563,327 | -€319,027 | -8.2% |
| Fixed assets | 21/28 | €3,576,777 | €3,521,797 | -€54,980 | -1.5% |
| Tangible fixed assets | 22/27 | €3,575,567 | €3,520,587 | -€54,980 | -1.5% |
| Land and buildings | 22 | €2,672,253 | €2,569,134 | -€103,119 | -3.9% |
| Furniture and vehicles | 24 | €43,992 | €60,856 | +€16,865 | +38.3% |
| Other tangible fixed assets | 26 | €859,322 | €890,596 | +€31,274 | +3.6% |
| Financial fixed assets | 28 | €1,210 | €1,210 | = | 0.0% |
| Current assets | 29/58 | €305,577 | €41,530 | -€264,047 | -86.4% |
| Amounts receivable within one year | 40/41 | €334 | €4,536 | +€4,201 | +1256.6% |
| Trade receivables | 40 | €334 | €3,025 | +€2,691 | +804.9% |
| Other amounts receivable | 41 | - | €1,510 | +€1,510 | |
| Cash at bank and in hand | 54/58 | €291,358 | €23,116 | -€268,243 | -92.1% |
| Deferred charges and accrued income | 490/1 | €13,884 | €13,878 | -€6 | 0.0% |
| Total equity and liabilities | 10/49 | €3,882,354 | €3,563,327 | -€319,027 | -8.2% |
| Equity | 10/15 | €860,110 | €667,985 | -€192,125 | -22.3% |
| 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 | €278,544 | €200,233 | -€78,310 | -28.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €272,344 | €194,033 | -€78,310 | -28.8% |
| Profit (loss) carried forward | 14 | €519,566 | €405,752 | -€113,814 | -21.9% |
| Provisions and deferred taxes | 16 | €103,861 | €77,031 | -€26,829 | -25.8% |
| Deferred taxes | 168 | €103,861 | €77,031 | -€26,829 | -25.8% |
| Amounts payable | 17/49 | €2,918,383 | €2,818,310 | -€100,073 | -3.4% |
| Amounts payable after more than one year | 17 | €2,462,889 | €2,350,291 | -€112,599 | -4.6% |
| Financial debts | 170/4 | €2,462,889 | €2,350,291 | -€112,599 | -4.6% |
| Amounts payable within one year | 42/48 | €453,440 | €463,479 | +€10,038 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €154,387 | €154,468 | +€81 | +0.1% |
| Trade debts | 44 | €62,392 | €12,004 | -€50,388 | -80.8% |
| Suppliers | 440/4 | €62,392 | €12,004 | -€50,388 | -80.8% |
| Taxes, remuneration and social security | 45 | €11,414 | €17,037 | +€5,622 | +49.3% |
| Taxes | 450/3 | €213 | €526 | +€313 | +146.5% |
| Remuneration and social security | 454/9 | €11,201 | €16,511 | +€5,310 | +47.4% |
| Other amounts payable | 47/48 | €225,247 | €279,971 | +€54,723 | +24.3% |
| Accrued charges and deferred income | 492/3 | €2,054 | €4,541 | +€2,487 | +121.1% |
| Non-recurring operating income | 76A | €300 | €2,450 | +€2,150 | +716.7% |
| Remuneration, social security and pensions | 62 | €104,345 | €129,017 | +€24,673 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,750 | €244,999 | +€37,249 | +17.9% |
| Other operating charges | 640/8 | €38,916 | €41,580 | +€2,664 | +6.8% |
| Non-recurring operating charges | 66A | - | €5,850 | +€5,850 | |
| Gross operating margin | 9900 | €227,607 | €254,227 | +€26,620 | +11.7% |
| Operating profit (loss) | 9901 | -€123,404 | -€167,220 | -€43,816 | -35.5% |
| Financial charges | 65/66B | €54,357 | €51,208 | -€3,148 | -5.8% |
| Recurring financial charges | 65 | €54,357 | €51,208 | -€3,148 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€177,760 | -€218,428 | -€40,668 | -22.9% |
| Transfer from deferred taxes | 780 | €159,656 | €26,829 | -€132,827 | -83.2% |
| Income taxes | 67/77 | €213 | €526 | +€313 | +146.5% |
| Profit (loss) for the period | 9904 | -€18,317 | -€192,125 | -€173,808 | -948.9% |
| Transfer from tax-exempt reserves | 789 | €476,778 | €78,310 | -€398,468 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €458,461 | -€113,814 | -€572,275 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.