SEIC: 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.
SEIC
Largest movements
- Tangible fixed assets -€174,761
no longer reported in 2025 (was €174,761)
of which Land and buildings: -€158,361
- Receivables within one year +€58,656
up €58,656 (+1486.2%), from €3,947 to €62,603
of which Trade receivables: +€55,764
- Cash -€10,393
down €10,393 (-26.2%), from €39,736 to €29,343
mainly Net result for the year (-€93,249) and Receivables within one year (-€58,656)
- Profit (loss) carried forward -€93,249
down €93,249, from €81,962 to -€11,287
- Tax, wage and social debts -€24,157
down €24,157 (-71.8%), from €33,651 to €9,494
of which Remuneration and social security: -€22,927
- Other debts -€6,541
down €6,541 (-29.5%), from €22,188 to €15,647
- Trade debts -€3,148
down €3,148 (-28.0%), from €11,240 to €8,092
- Gross operating margin -€47,375
down €47,375 (-61.8%), from €76,620 to €29,245
- Staff costs -€13,050
down €13,050 (-10.3%), from €126,868 to €113,818
- Depreciation -€8,949
no longer reported in 2025 (was €8,949)
- Other operating charges +€7,822
up €7,822 (+2019.3%), from €387 to €8,209
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 | €219,042 | €91,946 | -€127,096 | -58.0% |
| Fixed assets | 21/28 | €174,761 | - | -€174,761 | |
| Tangible fixed assets | 22/27 | €174,761 | - | -€174,761 | |
| Land and buildings | 22 | €158,361 | - | -€158,361 | |
| Plant, machinery and equipment | 23 | €16,400 | - | -€16,400 | |
| Current assets | 29/58 | €44,281 | €91,946 | +€47,665 | +107.6% |
| Amounts receivable within one year | 40/41 | €3,947 | €62,603 | +€58,656 | +1486.2% |
| Trade receivables | 40 | €1,567 | €57,331 | +€55,764 | +3558.8% |
| Other amounts receivable | 41 | €2,380 | €5,272 | +€2,892 | +121.5% |
| Cash at bank and in hand | 54/58 | €39,736 | €29,343 | -€10,393 | -26.2% |
| Deferred charges and accrued income | 490/1 | €598 | - | -€598 | |
| Total equity and liabilities | 10/49 | €219,042 | €91,946 | -€127,096 | -58.0% |
| Equity | 10/15 | €151,962 | €58,713 | -€93,249 | -61.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,962 | -€11,287 | -€93,249 | |
| Amounts payable | 17/49 | €67,079 | €33,232 | -€33,847 | -50.5% |
| Amounts payable within one year | 42/48 | €67,079 | €33,232 | -€33,847 | -50.5% |
| Trade debts | 44 | €11,240 | €8,092 | -€3,148 | -28.0% |
| Suppliers | 440/4 | €11,240 | €8,092 | -€3,148 | -28.0% |
| Taxes, remuneration and social security | 45 | €33,651 | €9,494 | -€24,157 | -71.8% |
| Taxes | 450/3 | €1,230 | €0 | -€1,230 | -100.0% |
| Remuneration and social security | 454/9 | €32,421 | €9,494 | -€22,927 | -70.7% |
| Other amounts payable | 47/48 | €22,188 | €15,647 | -€6,541 | -29.5% |
| Remuneration, social security and pensions | 62 | €126,868 | €113,818 | -€13,050 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,949 | - | -€8,949 | |
| Other operating charges | 640/8 | €387 | €8,209 | +€7,822 | +2019.3% |
| Gross operating margin | 9900 | €76,620 | €29,245 | -€47,375 | -61.8% |
| Operating profit (loss) | 9901 | -€59,585 | -€92,783 | -€33,198 | -55.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €345 | €467 | +€122 | +35.2% |
| Recurring financial charges | 65 | €345 | €467 | +€122 | +35.2% |
| Profit (loss) for the period before taxes | 9903 | -€59,930 | -€93,249 | -€33,319 | -55.6% |
| Profit (loss) for the period | 9904 | -€59,930 | -€93,249 | -€33,319 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,930 | -€93,249 | -€33,319 | -55.6% |
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 7 October 2026 via checked.be.