SEGMAT: 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.
SEGMAT
Largest movements
- Tangible fixed assets +€140,884
up €140,884 (+20630.9%), from €683 to €141,567
of which Land and buildings: +€141,548
- Debts after one year +€122,594
new in 2025: €122,594
- Current portion of long-term debt +€6,846
new in 2025: €6,846
- Trade debts +€3,567
up €3,567 (+599.4%), from €595 to €4,162
- Reserves +€3,056
up €3,056 (+7.7%), from €39,577 to €42,633
- Other debts +€2,283
up €2,283 (+191.9%), from €1,190 to €3,472
- Gross operating margin -€28,816
down €28,816 (-49.2%), from €58,549 to €29,732
- Depreciation +€15,632
up €15,632 (+1053.1%), from €1,484 to €17,116
- Taxes -€9,096
down €9,096 (-68.3%), from €13,323 to €4,227
- Financial charges +€1,262
up €1,262 (+40.8%), from €3,093 to €4,356
- Other operating charges -€587
down €587 (-37.5%), from €1,565 to €978
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 | €58,378 | €197,578 | +€139,200 | +238.4% |
| Fixed assets | 21/28 | €683 | €141,567 | +€140,884 | +20630.9% |
| Tangible fixed assets | 22/27 | €683 | €141,567 | +€140,884 | +20630.9% |
| Land and buildings | 22 | - | €141,548 | +€141,548 | |
| Furniture and vehicles | 24 | €683 | €19 | -€664 | -97.2% |
| Current assets | 29/58 | €57,695 | €56,011 | -€1,685 | -2.9% |
| Stocks and contracts in progress | 3 | €17,500 | €17,500 | = | 0.0% |
| Stocks | 30/36 | €17,500 | €17,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,638 | €17,410 | +€773 | +4.6% |
| Trade receivables | 40 | €16,638 | €16,638 | = | 0.0% |
| Other amounts receivable | 41 | - | €773 | +€773 | |
| Cash at bank and in hand | 54/58 | €22,297 | €21,100 | -€1,197 | -5.4% |
| Deferred charges and accrued income | 490/1 | €1,261 | - | -€1,261 | |
| Total equity and liabilities | 10/49 | €58,378 | €197,578 | +€139,200 | +238.4% |
| Equity | 10/15 | €44,577 | €47,633 | +€3,056 | +6.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,577 | €42,633 | +€3,056 | +7.7% |
| Distributable reserves | 133 | €39,577 | €42,633 | +€3,056 | +7.7% |
| Amounts payable | 17/49 | €13,801 | €149,945 | +€136,143 | +986.5% |
| Amounts payable after more than one year | 17 | - | €122,594 | +€122,594 | |
| Financial debts | 170/4 | - | €122,594 | +€122,594 | |
| Amounts payable within one year | 42/48 | €13,301 | €26,851 | +€13,550 | +101.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,846 | +€6,846 | |
| Trade debts | 44 | €595 | €4,162 | +€3,567 | +599.4% |
| Suppliers | 440/4 | €595 | €4,162 | +€3,567 | +599.4% |
| Taxes, remuneration and social security | 45 | €11,517 | €12,371 | +€854 | +7.4% |
| Taxes | 450/3 | €9,521 | €9,371 | -€150 | -1.6% |
| Remuneration and social security | 454/9 | €1,996 | €3,000 | +€1,004 | +50.3% |
| Other amounts payable | 47/48 | €1,190 | €3,472 | +€2,283 | +191.9% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,484 | €17,116 | +€15,632 | +1053.1% |
| Other operating charges | 640/8 | €1,565 | €978 | -€587 | -37.5% |
| Gross operating margin | 9900 | €58,549 | €29,732 | -€28,816 | -49.2% |
| Operating profit (loss) | 9901 | €55,499 | €11,639 | -€43,861 | -79.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,093 | €4,356 | +€1,262 | +40.8% |
| Recurring financial charges | 65 | €3,093 | €4,356 | +€1,262 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €52,406 | €7,283 | -€45,122 | -86.1% |
| Income taxes | 67/77 | €13,323 | €4,227 | -€9,096 | -68.3% |
| Profit (loss) for the period | 9904 | €39,082 | €3,056 | -€36,026 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,082 | €3,056 | -€36,026 | -92.2% |
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 8 October 2026 via checked.be.