SEGO: 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.
What changed
SEGO
NACE 46.610, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€789,696
2024 · €334,612+€455,085
Equity
€7.3m
2024 · €6.5m+€789,696
Cash
€5.1m
2024 · €5.5m-€389,021
Balance sheet total
€11.3m
2024 · €12.1m-€761,165
Largest movements
Assets
- Cash -€389,021
down €389,021 (-7.0%), from €5.5m to €5.1m
mainly Trade debts (-€1.3m) and Debts after one year (-€213,919)
- Receivables after one year -€270,000
down €270,000 (-66.7%), from €405,000 to €135,000
- Stocks and contracts -€131,671
down €131,671 (-31.7%), from €414,967 to €283,296
Equity and liabilities
- Reserves +€7.3m
up €7.3m (+278853.3%), from €2,603 to €7.3m
of which Distributable reserves: +€7.3m
- Profit (loss) carried forward -€6.5m
no longer reported in 2025 (was €6.5m)
- Trade debts -€1.3m
down €1.3m (-25.9%), from €4.9m to €3.6m
- Debts after one year -€213,919
no longer reported in 2025 (was €213,919)
Income statement
- Turnover +€5.6m
up €5.6m (+40.3%), from €14.0m to €19.6m
- Goods and materials +€5.1m
up €5.1m (+40.3%), from €12.7m to €17.8m
of which Purchases: +€5.1m
- Taxes +€274,034
up €274,034 (+1525.0%), from €17,969 to €292,003
of which Taxes: +€278,779
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.
Result 2024
€334,612
Turnover
+€5.6m
Other operating income
+€2,304
Goods and materials
-€5.1m
Services and other goods
-€24,720
Staff costs
+€133,711
Depreciation
+€11,836
Other operating charges
-€65
Financial income
+€83,004
Financial charges
+€877
Taxes
-€274,034
Result 2025
€789,696
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.
From operations
-€70,651
Investment
-€35,639
Financing
-€282,732
Cash 2024
€5.5m
From operations (derived)
-€70,651
Net result for the year
+€789,696
Depreciation
+€89,232
Receivables after one year
+€270,000
Stocks and contracts
+€131,671
Receivables within one year
-€88,162
Deferred charges and accrued income
+€5,041
Trade debts
-€1.3m
Tax, wage and social debts
-€13,431
Other debts
+€7,040
Investment (derived)
-€35,639
Investment in fixed assets (net)
-€20,880
Current investments
-€14,759
Financing
-€282,732
Debts after one year
-€213,919
Current portion of long-term debt
-€68,813
Cash 2025
€5.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,087,339 | €11,326,174 | -€761,165 | -6.3% |
| Fixed assets | 21/28 | €253,067 | €184,714 | -€68,353 | -27.0% |
| Tangible fixed assets | 22/27 | €252,817 | €184,464 | -€68,353 | -27.0% |
| Plant, machinery and equipment | 23 | €36,593 | €21,610 | -€14,983 | -40.9% |
| Furniture and vehicles | 24 | €178,079 | €128,774 | -€49,305 | -27.7% |
| Other tangible fixed assets | 26 | €38,145 | €34,080 | -€4,065 | -10.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Other financial fixed assets | 284/8 | €250 | €250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €11,834,272 | €11,141,460 | -€692,813 | -5.9% |
| Amounts receivable after more than one year | 29 | €405,000 | €135,000 | -€270,000 | -66.7% |
| Other amounts receivable | 291 | €405,000 | €135,000 | -€270,000 | -66.7% |
| Stocks and contracts in progress | 3 | €414,967 | €283,296 | -€131,671 | -31.7% |
| Stocks | 30/36 | €414,967 | €283,296 | -€131,671 | -31.7% |
| Goods purchased for resale | 34 | €414,967 | €283,296 | -€131,671 | -31.7% |
| Amounts receivable within one year | 40/41 | €3,368,273 | €3,456,435 | +€88,162 | +2.6% |
| Trade receivables | 40 | €3,058,036 | €3,110,128 | +€52,091 | +1.7% |
| Other amounts receivable | 41 | €310,236 | €346,307 | +€36,071 | +11.6% |
| Current investments | 50/53 | €2,101,487 | €2,116,246 | +€14,759 | +0.7% |
| Other investments | 51/53 | €2,101,487 | €2,116,246 | +€14,759 | +0.7% |
| Cash at bank and in hand | 54/58 | €5,537,422 | €5,148,400 | -€389,021 | -7.0% |
| Deferred charges and accrued income | 490/1 | €7,125 | €2,083 | -€5,041 | -70.8% |
| Total equity and liabilities | 10/49 | €12,087,339 | €11,326,174 | -€761,165 | -6.3% |
| Equity | 10/15 | €6,489,102 | €7,278,798 | +€789,696 | +12.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,603 | €7,260,206 | +€7.3m | +278853.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €743 | €7,258,347 | +€7.3m | +976192.9% |
| Profit (loss) carried forward | 14 | €6,467,907 | - | -€6.5m | |
| Provisions and deferred taxes | 16 | €110,000 | €110,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €110,000 | €110,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €110,000 | €110,000 | = | 0.0% |
| Amounts payable | 17/49 | €5,488,237 | €3,937,376 | -€1.6m | -28.3% |
| Amounts payable after more than one year | 17 | €213,919 | - | -€213,919 | |
| Financial debts | 170/4 | €213,919 | - | -€213,919 | |
| Credit institutions | 173 | €213,919 | - | -€213,919 | |
| Amounts payable within one year | 42/48 | €5,274,319 | €3,937,376 | -€1.3m | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €282,732 | €213,919 | -€68,813 | -24.3% |
| Trade debts | 44 | €4,880,816 | €3,619,078 | -€1.3m | -25.9% |
| Suppliers | 440/4 | €4,880,816 | €3,619,078 | -€1.3m | -25.9% |
| Taxes, remuneration and social security | 45 | €65,579 | €52,148 | -€13,431 | -20.5% |
| Taxes | 450/3 | €15,481 | €16,138 | +€657 | +4.2% |
| Remuneration and social security | 454/9 | €50,098 | €36,010 | -€14,089 | -28.1% |
| Other amounts payable | 47/48 | €45,191 | €52,231 | +€7,040 | +15.6% |
| Operating income | 70/76A | €13,978,355 | €19,604,078 | +€5.6m | +40.2% |
| Turnover | 70 | €13,960,504 | €19,583,923 | +€5.6m | +40.3% |
| Other operating income | 74 | €17,851 | €20,154 | +€2,304 | +12.9% |
| Operating charges | 60/66A | €13,733,166 | €18,713,651 | +€5.0m | +36.3% |
| Goods for resale, raw materials and consumables | 60 | €12,655,794 | €17,757,042 | +€5.1m | +40.3% |
| Purchases | 600/8 | €12,553,957 | €17,625,371 | +€5.1m | +40.4% |
| Change in stocks: decrease (increase) | 609 | €101,837 | €131,671 | +€29,834 | +29.3% |
| Services and other goods | 61 | €450,789 | €475,509 | +€24,720 | +5.5% |
| Remuneration, social security and pensions | 62 | €520,020 | €386,309 | -€133,711 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,068 | €89,232 | -€11,836 | -11.7% |
| Other operating charges | 640/8 | €5,494 | €5,559 | +€65 | +1.2% |
| Operating profit (loss) | 9901 | €245,189 | €890,426 | +€645,237 | +263.2% |
| Financial income | 75/76B | €115,495 | €198,499 | +€83,004 | +71.9% |
| Recurring financial income | 75 | €115,495 | €198,499 | +€83,004 | +71.9% |
| Income from current assets | 751 | €99,872 | €179,239 | +€79,367 | +79.5% |
| Other financial income | 752/9 | €15,623 | €19,260 | +€3,637 | +23.3% |
| Financial charges | 65/66B | €8,103 | €7,226 | -€877 | -10.8% |
| Recurring financial charges | 65 | €8,103 | €7,226 | -€877 | -10.8% |
| Debt charges | 650 | €6,528 | €3,685 | -€2,843 | -43.5% |
| Other financial charges | 652/9 | €1,575 | €3,541 | +€1,965 | +124.8% |
| Profit (loss) for the period before taxes | 9903 | €352,581 | €1,081,699 | +€729,118 | +206.8% |
| Income taxes | 67/77 | €17,969 | €292,003 | +€274,034 | +1525.0% |
| Taxes | 670/3 | €17,969 | €296,748 | +€278,779 | +1551.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €4,746 | +€4,746 | |
| Profit (loss) for the period | 9904 | €334,612 | €789,696 | +€455,085 | +136.0% |
| Profit (loss) for the period to be appropriated | 9905 | €334,612 | €789,696 | +€455,085 | +136.0% |
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 6 October 2026 via checked.be.