SEGURO CAPITAL: 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.
SEGURO CAPITAL
Largest movements
- Receivables after one year -€29,320
down €29,320 (-52.3%), from €56,062 to €26,742
- Tangible fixed assets -€19,544
down €19,544 (-12.8%), from €152,595 to €133,051
of which Land and buildings: -€18,050
- Receivables within one year +€10,664
up €10,664 (+21.6%), from €49,394 to €60,059
of which Trade receivables: +€10,212
- Stocks and contracts +€5,713
up €5,713 (+32.8%), from €17,434 to €23,147
- Current portion of long-term debt -€28,539
down €28,539 (-91.9%), from €31,068 to €2,529
- Profit (loss) carried forward -€17,704
down €17,704 (-40.6%), from €43,593 to €25,889
- Trade debts +€14,336
up €14,336 (+127%), from €11,252 to €25,588
- Taxes +€10,504
up €10,504 (+80.7%), from €13,023 to €23,527
- Other operating charges -€4,502
down €4,502 (-31.1%), from €14,477 to €9,974
- Gross operating margin +€2,951
up €2,951 (+6.8%), from €43,558 to €46,509
- Financial charges -€724
down €724 (-7.5%), from €9,632 to €8,908
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,310 | €279,594 | -€32,716 | -10.5% |
| Fixed assets | 21/28 | €152,645 | €133,101 | -€19,544 | -12.8% |
| Tangible fixed assets | 22/27 | €152,595 | €133,051 | -€19,544 | -12.8% |
| Land and buildings | 22 | €127,300 | €109,250 | -€18,050 | -14.2% |
| Plant, machinery and equipment | 23 | €1,376 | €3,187 | +€1,810 | +132% |
| Other tangible fixed assets | 26 | €23,919 | €20,614 | -€3,305 | -13.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €159,665 | €146,493 | -€13,171 | -8.2% |
| Amounts receivable after more than one year | 29 | €56,062 | €26,742 | -€29,320 | -52.3% |
| Trade receivables | 290 | €56,062 | €26,742 | -€29,320 | -52.3% |
| Stocks and contracts in progress | 3 | €17,434 | €23,147 | +€5,713 | +32.8% |
| Stocks | 30/36 | €17,434 | €23,147 | +€5,713 | +32.8% |
| Amounts receivable within one year | 40/41 | €49,394 | €60,059 | +€10,664 | +21.6% |
| Trade receivables | 40 | €49,394 | €59,607 | +€10,212 | +20.7% |
| Other amounts receivable | 41 | - | €452 | +€452 | |
| Current investments | 50/53 | €36,546 | €36,546 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €229 | - | -€229 | |
| Total equity and liabilities | 10/49 | €312,310 | €279,594 | -€32,716 | -10.5% |
| Equity | 10/15 | €57,853 | €40,149 | -€17,704 | -30.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,593 | €25,889 | -€17,704 | -40.6% |
| Amounts payable | 17/49 | €254,457 | €239,445 | -€15,012 | -5.9% |
| Amounts payable after more than one year | 17 | €161,930 | €161,930 | = | 0.0% |
| Financial debts | 170/4 | €161,930 | €161,930 | = | 0.0% |
| Amounts payable within one year | 42/48 | €92,527 | €77,515 | -€15,012 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €31,068 | €2,529 | -€28,539 | -91.9% |
| Financial debts | 43 | €18,808 | €19,782 | +€973 | +5.2% |
| Credit institutions | 430/8 | €18,808 | €19,782 | +€973 | +5.2% |
| Trade debts | 44 | €11,252 | €25,588 | +€14,336 | +127% |
| Suppliers | 440/4 | €11,252 | €25,588 | +€14,336 | +127% |
| Taxes, remuneration and social security | 45 | €31,399 | €29,616 | -€1,782 | -5.7% |
| Taxes | 450/3 | €31,399 | €28,416 | -€2,982 | -9.5% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,355 | €21,803 | +€448 | +2.1% |
| Other operating charges | 640/8 | €14,477 | €9,974 | -€4,502 | -31.1% |
| Gross operating margin | 9900 | €43,558 | €46,509 | +€2,951 | +6.8% |
| Operating profit (loss) | 9901 | €7,726 | €14,731 | +€7,005 | +90.7% |
| Financial income | 75/76B | €344 | €0 | -€344 | -100.0% |
| Recurring financial income | 75 | €344 | €0 | -€344 | -100.0% |
| Financial charges | 65/66B | €9,632 | €8,908 | -€724 | -7.5% |
| Recurring financial charges | 65 | €9,632 | €8,908 | -€724 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,562 | €5,824 | +€7,385 | |
| Income taxes | 67/77 | €13,023 | €23,527 | +€10,504 | +80.7% |
| Profit (loss) for the period | 9904 | -€14,585 | -€17,704 | -€3,119 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,585 | -€17,704 | -€3,119 | -21.4% |
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 23 October 2026 via checked.be.