Segundo: 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
Segundo
NACE 56.301, Cafés and bars
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€266,713
2024 · €173,673+€93,040
Equity
€375,577
2024 · €374,864+€713
Cash
€137,122
2024 · €130,969+€6,152
Balance sheet total
€898,874
2024 · €859,036+€39,837
Largest movements
Assets
- Receivables within one year +€42,398
up €42,398 (+13.5%), from €313,238 to €355,636
of which Other amounts receivable: +€50,856
Equity and liabilities
- Other debts +€96,762
up €96,762 (+56.9%), from €170,000 to €266,762
- Debts after one year -€40,035
down €40,035 (-28.8%), from €139,152 to €99,118
- Current portion of long-term debt -€31,021
down €31,021 (-38.4%), from €80,715 to €49,695
- Tax, wage and social debts +€13,406
up €13,406 (+21.8%), from €61,374 to €74,780
of which Taxes: +€7,780
Income statement
- Gross operating margin +€68,062
up €68,062 (+7.1%), from €956,824 to €1.0m
- Staff costs -€48,439
down €48,439 (-8.1%), from €600,923 to €552,485
- Taxes +€26,625
up €26,625 (+39.6%), from €67,262 to €93,887
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
€173,673
Gross operating margin
+€68,062
Staff costs
+€48,439
Depreciation
-€4,458
Write-downs
+€2,916
Other operating charges
+€2,655
Financial income
-€182
Financial charges
+€2,234
Taxes
-€26,625
Result 2025
€266,713
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
+€428,813
Investment
-€85,605
Financing
-€337,055
Cash 2024
€130,969
From operations (derived)
+€428,813
Net result for the year
+€266,713
Depreciation
+€90,106
Stocks and contracts
+€789
Receivables within one year
-€42,398
Deferred charges and accrued income
+€3,424
Smaller working-capital items
+€12
Tax, wage and social debts
+€13,406
Other debts
+€96,762
Investment (derived)
-€85,605
Investment in fixed assets (net)
-€85,605
Financing
-€337,055
Debts after one year
-€40,035
Current portion of long-term debt
-€31,021
Contributions, distributions and other
-€266,000
Cash 2025
€137,122
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €859,036 | €898,874 | +€39,837 | +4.6% |
| Fixed assets | 21/28 | €404,031 | €399,530 | -€4,500 | -1.1% |
| Tangible fixed assets | 22/27 | €404,031 | €399,530 | -€4,500 | -1.1% |
| Land and buildings | 22 | €264,036 | €302,256 | +€38,220 | +14.5% |
| Plant, machinery and equipment | 23 | €28,336 | €19,492 | -€8,844 | -31.2% |
| Furniture and vehicles | 24 | €87,442 | €60,235 | -€27,206 | -31.1% |
| Other tangible fixed assets | 26 | €24,217 | €17,547 | -€6,670 | -27.5% |
| Current assets | 29/58 | €455,006 | €499,343 | +€44,338 | +9.7% |
| Stocks and contracts in progress | 3 | €5,380 | €4,591 | -€789 | -14.7% |
| Stocks | 30/36 | €5,380 | €4,591 | -€789 | -14.7% |
| Amounts receivable within one year | 40/41 | €313,238 | €355,636 | +€42,398 | +13.5% |
| Trade receivables | 40 | €11,610 | €3,152 | -€8,458 | -72.9% |
| Other amounts receivable | 41 | €301,628 | €352,484 | +€50,856 | +16.9% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €130,969 | €137,122 | +€6,152 | +4.7% |
| Deferred charges and accrued income | 490/1 | €4,918 | €1,495 | -€3,424 | -69.6% |
| Total equity and liabilities | 10/49 | €859,036 | €898,874 | +€39,837 | +4.6% |
| Equity | 10/15 | €374,864 | €375,577 | +€713 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €356,264 | €356,977 | +€713 | +0.2% |
| Distributable reserves | 133 | €356,264 | €356,977 | +€713 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €484,172 | €523,297 | +€39,125 | +8.1% |
| Amounts payable after more than one year | 17 | €139,152 | €99,118 | -€40,035 | -28.8% |
| Financial debts | 170/4 | €139,152 | €99,118 | -€40,035 | -28.8% |
| Amounts payable within one year | 42/48 | €345,020 | €424,114 | +€79,094 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €80,715 | €49,695 | -€31,021 | -38.4% |
| Trade debts | 44 | €32,930 | €32,878 | -€53 | -0.2% |
| Suppliers | 440/4 | €32,930 | €32,878 | -€53 | -0.2% |
| Taxes, remuneration and social security | 45 | €61,374 | €74,780 | +€13,406 | +21.8% |
| Taxes | 450/3 | €14,770 | €22,550 | +€7,780 | +52.7% |
| Remuneration and social security | 454/9 | €46,604 | €52,230 | +€5,626 | +12.1% |
| Other amounts payable | 47/48 | €170,000 | €266,762 | +€96,762 | +56.9% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Remuneration, social security and pensions | 62 | €600,923 | €552,485 | -€48,439 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,647 | €90,106 | +€4,458 | +5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,458 | -€1,458 | -€2,916 | |
| Other operating charges | 640/8 | €10,621 | €7,966 | -€2,655 | -25.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €956,824 | €1,024,886 | +€68,062 | +7.1% |
| Operating profit (loss) | 9901 | €258,175 | €375,788 | +€117,613 | +45.6% |
| Financial income | 75/76B | €189 | €7 | -€182 | -96.3% |
| Recurring financial income | 75 | €189 | €7 | -€182 | -96.3% |
| Financial charges | 65/66B | €17,429 | €15,195 | -€2,234 | -12.8% |
| Recurring financial charges | 65 | €17,429 | €15,195 | -€2,234 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €240,935 | €360,600 | +€119,665 | +49.7% |
| Income taxes | 67/77 | €67,262 | €93,887 | +€26,625 | +39.6% |
| Profit (loss) for the period | 9904 | €173,673 | €266,713 | +€93,040 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €173,673 | €266,713 | +€93,040 | +53.6% |
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 30 September 2026 via checked.be.