SEHAJ: 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.
SEHAJ
Largest movements
- Stocks and contracts +€6,837
up €6,837 (+64.0%), from €10,680 to €17,516
- Tangible fixed assets -€6,098
down €6,098 (-28.3%), from €21,551 to €15,453
- Receivables within one year -€644
down €644 (-7.8%), from €8,221 to €7,578
of which Other amounts receivable: -€2,336
- Contributions -€12,900
down €12,900 (-56.3%), from €22,900 to €10,000
- Trade debts +€9,097
up €9,097 (+132%), from €6,905 to €16,002
- Tax, wage and social debts +€4,128
new in 2025: €4,128
of which Remuneration and social security: +€3,854
- Other debts +€3,891
new in 2025: €3,891
- Debts after one year -€3,252
down €3,252 (-25.2%), from €12,903 to €9,651
- Purchases and services -€299,522
no longer reported in 2025 (was €299,522)
- Turnover -€282,391
no longer reported in 2025 (was €282,391)
- Gross operating margin +€29,228
up €29,228, from -€12,560 to €16,668
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 | €42,927 | €42,596 | -€331 | -0.8% |
| Fixed assets | 21/28 | €23,582 | €17,484 | -€6,098 | -25.9% |
| Tangible fixed assets | 22/27 | €21,551 | €15,453 | -€6,098 | -28.3% |
| Leasing and similar rights | 25 | €21,551 | €15,453 | -€6,098 | -28.3% |
| Financial fixed assets | 28 | €2,031 | €2,031 | = | 0.0% |
| Current assets | 29/58 | €19,345 | €25,111 | +€5,767 | +29.8% |
| Stocks and contracts in progress | 3 | €10,680 | €17,516 | +€6,837 | +64.0% |
| Stocks | 30/36 | €10,680 | €17,516 | +€6,837 | +64.0% |
| Amounts receivable within one year | 40/41 | €8,221 | €7,578 | -€644 | -7.8% |
| Trade receivables | 40 | €5,567 | €7,259 | +€1,692 | +30.4% |
| Other amounts receivable | 41 | €2,654 | €318 | -€2,336 | -88.0% |
| Cash at bank and in hand | 54/58 | €444 | €17 | -€426 | -96.1% |
| Total equity and liabilities | 10/49 | €42,927 | €42,596 | -€331 | -0.8% |
| Equity | 10/15 | €17,636 | €5,672 | -€11,964 | -67.8% |
| Contributions | 10/11 | €22,900 | €10,000 | -€12,900 | -56.3% |
| Reserves | 13 | €1,066 | €1,066 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,066 | €1,066 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,066 | €1,066 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,330 | -€5,394 | +€936 | +14.8% |
| Amounts payable | 17/49 | €25,290 | €36,924 | +€11,633 | +46.0% |
| Amounts payable after more than one year | 17 | €12,903 | €9,651 | -€3,252 | -25.2% |
| Financial debts | 170/4 | €12,903 | €9,651 | -€3,252 | -25.2% |
| Amounts payable within one year | 42/48 | €12,387 | €27,273 | +€14,885 | +120% |
| Current portion of amounts payable after more than one year | 42 | €5,482 | €3,252 | -€2,231 | -40.7% |
| Trade debts | 44 | €6,905 | €16,002 | +€9,097 | +132% |
| Suppliers | 440/4 | €6,905 | €16,002 | +€9,097 | +132% |
| Taxes, remuneration and social security | 45 | - | €4,128 | +€4,128 | |
| Taxes | 450/3 | - | €274 | +€274 | |
| Remuneration and social security | 454/9 | - | €3,854 | +€3,854 | |
| Other amounts payable | 47/48 | - | €3,891 | +€3,891 | |
| Turnover | 70 | €282,391 | - | -€282,391 | |
| Non-recurring operating income | 76A | €175 | - | -€175 | |
| Goods, raw materials, services and sundry goods | 60/61 | €299,522 | - | -€299,522 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,098 | €6,098 | = | 0.0% |
| Other operating charges | 640/8 | €5,801 | €4,793 | -€1,008 | -17.4% |
| Gross operating margin | 9900 | -€12,560 | €16,668 | +€29,228 | |
| Operating profit (loss) | 9901 | -€24,459 | €5,777 | +€30,236 | |
| Financial charges | 65/66B | €2,712 | €3,320 | +€608 | +22.4% |
| Recurring financial charges | 65 | €2,712 | €3,320 | +€608 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,170 | €2,458 | +€29,628 | |
| Income taxes | 67/77 | - | €1,522 | +€1,522 | |
| Profit (loss) for the period | 9904 | -€27,170 | €936 | +€28,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,170 | €936 | +€28,106 |
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 15 October 2026 via checked.be.