Segulo: 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.
Segulo
Largest movements
- Tangible fixed assets +€589,618
up €589,618 (+3109.9%), from €18,960 to €608,578
of which Land and buildings: +€592,930
- Receivables within one year +€51,273
up €51,273 (+599.6%), from €8,551 to €59,824
of which Trade receivables: +€42,859
- Cash -€11,649
down €11,649 (-9.7%), from €119,487 to €107,839
mainly Investment in fixed assets (net) (-€600,000) and Receivables within one year (-€51,273)
- Debts after one year +€540,000
new in 2025: €540,000
- Profit (loss) carried forward +€78,097
up €78,097 (+77.4%), from €100,869 to €178,966
- Tax, wage and social debts +€24,931
up €24,931 (+79.4%), from €31,397 to €56,329
of which Taxes: +€21,442
- Gross operating margin +€128,809
up €128,809 (+181.5%), from €70,956 to €199,765
- Other operating charges +€81,235
up €81,235 (+3506.3%), from €2,317 to €83,552
- Taxes +€13,875
up €13,875 (+64.2%), from €21,621 to €35,496
- Depreciation +€5,602
up €5,602 (+117.2%), from €4,780 to €10,382
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 | €146,998 | €784,001 | +€637,004 | +433.3% |
| Fixed assets | 21/28 | €18,960 | €608,578 | +€589,618 | +3109.9% |
| Tangible fixed assets | 22/27 | €18,960 | €608,578 | +€589,618 | +3109.9% |
| Land and buildings | 22 | €9,277 | €602,207 | +€592,930 | +6391.3% |
| Plant, machinery and equipment | 23 | €4,691 | €3,790 | -€901 | -19.2% |
| Furniture and vehicles | 24 | €4,992 | €2,580 | -€2,412 | -48.3% |
| Current assets | 29/58 | €128,038 | €175,424 | +€47,386 | +37.0% |
| Amounts receivable within one year | 40/41 | €8,551 | €59,824 | +€51,273 | +599.6% |
| Trade receivables | 40 | €8,551 | €51,410 | +€42,859 | +501.2% |
| Other amounts receivable | 41 | - | €8,414 | +€8,414 | |
| Cash at bank and in hand | 54/58 | €119,487 | €107,839 | -€11,649 | -9.7% |
| Deferred charges and accrued income | 490/1 | - | €7,761 | +€7,761 | |
| Total equity and liabilities | 10/49 | €146,998 | €784,001 | +€637,004 | +433.3% |
| Equity | 10/15 | €108,924 | €187,021 | +€78,097 | +71.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,869 | €178,966 | +€78,097 | +77.4% |
| Amounts payable | 17/49 | €38,074 | €596,981 | +€558,907 | +1468.0% |
| Amounts payable after more than one year | 17 | - | €540,000 | +€540,000 | |
| Financial debts | 170/4 | - | €540,000 | +€540,000 | |
| Amounts payable within one year | 42/48 | €38,074 | €56,981 | +€18,907 | +49.7% |
| Trade debts | 44 | €1,456 | - | -€1,456 | |
| Suppliers | 440/4 | €1,456 | - | -€1,456 | |
| Taxes, remuneration and social security | 45 | €31,397 | €56,329 | +€24,931 | +79.4% |
| Taxes | 450/3 | €31,397 | €52,839 | +€21,442 | +68.3% |
| Remuneration and social security | 454/9 | - | €3,490 | +€3,490 | |
| Other amounts payable | 47/48 | €5,221 | €652 | -€4,569 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,780 | €10,382 | +€5,602 | +117.2% |
| Other operating charges | 640/8 | €2,317 | €83,552 | +€81,235 | +3506.3% |
| Gross operating margin | 9900 | €70,956 | €199,765 | +€128,809 | +181.5% |
| Operating profit (loss) | 9901 | €63,860 | €105,831 | +€41,971 | +65.7% |
| Profit (loss) for the period before taxes | 9903 | €63,860 | €105,831 | +€41,971 | +65.7% |
| Income taxes | 67/77 | €21,621 | €35,496 | +€13,875 | +64.2% |
| Profit (loss) for the period | 9904 | €42,239 | €70,335 | +€28,097 | +66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,239 | €70,335 | +€28,097 | +66.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.