SEGMASY: 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.
SEGMASY
Largest movements
- Tangible fixed assets +€84,406
up €84,406 (+291%), from €28,977 to €113,384
of which Land and buildings: +€93,137
- Cash -€26,992
no longer reported in 2025 (was €26,992)
mainly Investment in fixed assets (net) (-€103,990) and Other debts (-€49,902)
- Receivables within one year +€17,605
up €17,605 (+112%), from €15,769 to €33,374
of which Trade receivables: +€19,932
- Debts after one year +€66,679
new in 2025: €66,679
- Other debts -€49,902
down €49,902 (-99.8%), from €50,000 to €99
- Profit (loss) carried forward +€41,268
up €41,268 (+1,018%), from €4,052 to €45,319
- Current portion of long-term debt +€21,056
new in 2025: €21,056
- Contributions -€3,500
down €3,500 (-70.0%), from €5,000 to €1,500
- Depreciation +€11,724
up €11,724 (+149%), from €7,859 to €19,584
- Taxes -€2,538
down €2,538 (-15.4%), from €16,431 to €13,893
- Financial charges +€2,044
new in 2025: €2,044
- Gross operating margin -€2,003
down €2,003 (-2.5%), from €79,535 to €77,532
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 | €71,739 | €146,758 | +€75,019 | +105% |
| Fixed assets | 21/28 | €28,977 | €113,384 | +€84,406 | +291% |
| Tangible fixed assets | 22/27 | €28,977 | €113,384 | +€84,406 | +291% |
| Land and buildings | 22 | - | €93,137 | +€93,137 | |
| Furniture and vehicles | 24 | €28,977 | €20,247 | -€8,731 | -30.1% |
| Current assets | 29/58 | €42,761 | €33,374 | -€9,387 | -22.0% |
| Amounts receivable within one year | 40/41 | €15,769 | €33,374 | +€17,605 | +112% |
| Trade receivables | 40 | €12,269 | €32,202 | +€19,932 | +162% |
| Other amounts receivable | 41 | €3,500 | €1,173 | -€2,327 | -66.5% |
| Cash at bank and in hand | 54/58 | €26,992 | - | -€26,992 | |
| Total equity and liabilities | 10/49 | €71,739 | €146,758 | +€75,019 | +105% |
| Equity | 10/15 | €9,052 | €46,819 | +€37,768 | +417% |
| Contributions | 10/11 | €5,000 | €1,500 | -€3,500 | -70.0% |
| Profit (loss) carried forward | 14 | €4,052 | €45,319 | +€41,268 | +1,018% |
| Amounts payable | 17/49 | €62,687 | €99,939 | +€37,252 | +59.4% |
| Amounts payable after more than one year | 17 | - | €66,679 | +€66,679 | |
| Financial debts | 170/4 | - | €66,679 | +€66,679 | |
| Amounts payable within one year | 42/48 | €62,687 | €33,259 | -€29,428 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | - | €21,056 | +€21,056 | |
| Financial debts | 43 | - | €1,477 | +€1,477 | |
| Credit institutions | 430/8 | - | €1,477 | +€1,477 | |
| Trade debts | 44 | €240 | €224 | -€15 | -6.4% |
| Suppliers | 440/4 | €240 | €224 | -€15 | -6.4% |
| Taxes, remuneration and social security | 45 | €12,447 | €10,404 | -€2,043 | -16.4% |
| Taxes | 450/3 | €12,447 | €10,404 | -€2,043 | -16.4% |
| Other amounts payable | 47/48 | €50,000 | €99 | -€49,902 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,859 | €19,584 | +€11,724 | +149% |
| Other operating charges | 640/8 | €1,193 | €744 | -€449 | -37.6% |
| Gross operating margin | 9900 | €79,535 | €77,532 | -€2,003 | -2.5% |
| Operating profit (loss) | 9901 | €70,483 | €57,204 | -€13,278 | -18.8% |
| Financial charges | 65/66B | - | €2,044 | +€2,044 | |
| Recurring financial charges | 65 | - | €2,044 | +€2,044 | |
| Profit (loss) for the period before taxes | 9903 | €70,483 | €55,161 | -€15,322 | -21.7% |
| Income taxes | 67/77 | €16,431 | €13,893 | -€2,538 | -15.4% |
| Profit (loss) for the period | 9904 | €54,052 | €41,268 | -€12,784 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,052 | €41,268 | -€12,784 | -23.7% |
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 15 October 2026 via checked.be.