SEGULA BELUX: 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.
SEGULA BELUX
Largest movements
- Receivables within one year +€15,196
up €15,196 (+30.4%), from €49,969 to €65,165
of which Trade receivables: +€25,047
- Financial fixed assets +€745
up €745 (+205%), from €363 to €1,108
- Tax, wage and social debts +€16,471
new in 2025: €16,471
of which Remuneration and social security: +€14,080
- Profit (loss) carried forward -€9,369
down €9,369 (-3.3%), from -€284,887 to -€294,257
- Other debts +€8,000
up €8,000 (+13.8%), from €58,120 to €66,120
- Trade debts +€1,061
up €1,061 (+66.2%), from €1,604 to €2,665
- Gross operating margin +€65,614
up €65,614, from -€11,689 to €53,925
- Staff costs +€61,534
new in 2025: €61,534
- Financial income -€1,085
down €1,085 (-53.9%), from €2,014 to €929
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 | €53,036 | €69,200 | +€16,163 | +30.5% |
| Fixed assets | 21/28 | €363 | €1,108 | +€745 | +205% |
| Financial fixed assets | 28 | €363 | €1,108 | +€745 | +205% |
| Current assets | 29/58 | €52,673 | €68,092 | +€15,418 | +29.3% |
| Amounts receivable within one year | 40/41 | €49,969 | €65,165 | +€15,196 | +30.4% |
| Trade receivables | 40 | €1,342 | €26,389 | +€25,047 | +1,866% |
| Other amounts receivable | 41 | €48,627 | €38,776 | -€9,851 | -20.3% |
| Cash at bank and in hand | 54/58 | €2,704 | €2,676 | -€28 | -1.0% |
| Deferred charges and accrued income | 490/1 | - | €251 | +€251 | |
| Total equity and liabilities | 10/49 | €53,036 | €69,200 | +€16,163 | +30.5% |
| Equity | 10/15 | -€6,687 | -€16,057 | -€9,369 | -140% |
| 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 | €216,200 | €216,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €210,000 | €210,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€284,887 | -€294,257 | -€9,369 | -3.3% |
| Amounts payable | 17/49 | €59,724 | €85,256 | +€25,533 | +42.8% |
| Amounts payable within one year | 42/48 | €59,724 | €85,256 | +€25,533 | +42.8% |
| Trade debts | 44 | €1,604 | €2,665 | +€1,061 | +66.2% |
| Suppliers | 440/4 | €1,604 | €2,665 | +€1,061 | +66.2% |
| Taxes, remuneration and social security | 45 | - | €16,471 | +€16,471 | |
| Taxes | 450/3 | - | €2,391 | +€2,391 | |
| Remuneration and social security | 454/9 | - | €14,080 | +€14,080 | |
| Other amounts payable | 47/48 | €58,120 | €66,120 | +€8,000 | +13.8% |
| Remuneration, social security and pensions | 62 | - | €61,534 | +€61,534 | |
| Other operating charges | 640/8 | €438 | €454 | +€16 | +3.6% |
| Gross operating margin | 9900 | -€11,689 | €53,925 | +€65,614 | |
| Operating profit (loss) | 9901 | -€12,127 | -€8,062 | +€4,065 | +33.5% |
| Financial income | 75/76B | €2,014 | €929 | -€1,085 | -53.9% |
| Recurring financial income | 75 | €2,014 | €929 | -€1,085 | -53.9% |
| Financial charges | 65/66B | €2,144 | €2,236 | +€92 | +4.3% |
| Recurring financial charges | 65 | €2,144 | €2,236 | +€92 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,257 | -€9,369 | +€2,888 | +23.6% |
| Profit (loss) for the period | 9904 | -€12,257 | -€9,369 | +€2,888 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,257 | -€9,369 | +€2,888 | +23.6% |
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 18 October 2026 via checked.be.