SEICHO: what changed
SEICHO
Largest movements
- Cash +€40,425
up €40,425 (+43.8%), from €92,307 to €132,732
mainly Net result for the year (+€46,104) and Receivables within one year (+€7,316)
- Receivables within one year -€7,316
down €7,316 (-29.3%), from €24,936 to €17,620
of which Trade receivables: -€9,225
- Reserves +€46,104
up €46,104 (+61.5%), from €74,999 to €121,104
- Tax, wage and social debts -€12,910
down €12,910 (-35.3%), from €36,538 to €23,628
of which Taxes: -€14,910
- Gross operating margin +€16,024
up €16,024 (+36.8%), from €43,600 to €59,624
- Other operating charges +€1,791
up €1,791 (+937%), from €191 to €1,982
- Taxes +€799
up €799 (+7.6%), from €10,460 to €11,260
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,207 | €151,316 | +€33,109 | +28.0% |
| Current assets | 29/58 | €118,207 | €151,316 | +€33,109 | +28.0% |
| Amounts receivable within one year | 40/41 | €24,936 | €17,620 | -€7,316 | -29.3% |
| Trade receivables | 40 | €24,310 | €15,085 | -€9,225 | -37.9% |
| Other amounts receivable | 41 | €626 | €2,535 | +€1,909 | +305% |
| Cash at bank and in hand | 54/58 | €92,307 | €132,732 | +€40,425 | +43.8% |
| Deferred charges and accrued income | 490/1 | €963 | €963 | = | 0.0% |
| Total equity and liabilities | 10/49 | €118,207 | €151,316 | +€33,109 | +28.0% |
| Equity | 10/15 | €79,999 | €126,104 | +€46,104 | +57.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €74,999 | €121,104 | +€46,104 | +61.5% |
| Distributable reserves | 133 | €74,999 | €121,104 | +€46,104 | +61.5% |
| Amounts payable | 17/49 | €38,208 | €25,212 | -€12,996 | -34.0% |
| Amounts payable within one year | 42/48 | €38,208 | €25,212 | -€12,996 | -34.0% |
| Trade debts | 44 | €1,670 | €1,391 | -€279 | -16.7% |
| Suppliers | 440/4 | €1,670 | €1,391 | -€279 | -16.7% |
| Taxes, remuneration and social security | 45 | €36,538 | €23,628 | -€12,910 | -35.3% |
| Taxes | 450/3 | €34,538 | €19,628 | -€14,910 | -43.2% |
| Remuneration and social security | 454/9 | €2,000 | €4,000 | +€2,000 | +100% |
| Other amounts payable | 47/48 | - | €193 | +€193 | |
| Other operating charges | 640/8 | €191 | €1,982 | +€1,791 | +937% |
| Gross operating margin | 9900 | €43,600 | €59,624 | +€16,024 | +36.8% |
| Operating profit (loss) | 9901 | €43,409 | €57,642 | +€14,234 | +32.8% |
| Financial income | 75/76B | €120 | €0 | -€120 | -99.9% |
| Recurring financial income | 75 | €120 | €0 | -€120 | -99.9% |
| Financial charges | 65/66B | €47 | €278 | +€231 | +492% |
| Recurring financial charges | 65 | €47 | €278 | +€231 | +492% |
| Profit (loss) for the period before taxes | 9903 | €43,481 | €57,364 | +€13,883 | +31.9% |
| Income taxes | 67/77 | €10,460 | €11,260 | +€799 | +7.6% |
| Profit (loss) for the period | 9904 | €33,021 | €46,104 | +€13,083 | +39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,021 | €46,104 | +€13,083 | +39.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.