SEIED: 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.
SEIED
Largest movements
- Stocks and contracts +€7,710
up €7,710 (+13.2%), from €58,234 to €65,944
- Cash +€6,453
up €6,453 (+339.8%), from €1,899 to €8,352
mainly Net result for the year (+€23,032) and Tax, wage and social debts (+€7,235)
- Receivables within one year -€2,636
no longer reported in 2025 (was €2,636)
of which Trade receivables: -€2,485
- Tangible fixed assets -€1,618
down €1,618 (-26.6%), from €6,079 to €4,462
of which Plant, machinery and equipment: -€918
- Profit (loss) carried forward +€23,032
up €23,032 (+85.1%), from -€27,061 to -€4,029
- Other debts -€22,286
down €22,286 (-56.4%), from €39,508 to €17,222
- Tax, wage and social debts +€7,235
up €7,235 (+91.8%), from €7,877 to €15,112
of which Remuneration and social security: +€4,728
- Gross operating margin +€25,710
up €25,710 (+64.0%), from €40,160 to €65,870
- Staff costs +€7,504
up €7,504 (+33.3%), from €22,518 to €30,022
- Financial charges +€1,858
up €1,858 (+36.2%), from €5,126 to €6,984
- Taxes +€1,655
new in 2025: €1,655
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 | €83,320 | €92,098 | +€8,778 | +10.5% |
| Fixed assets | 21/28 | €20,109 | €17,802 | -€2,308 | -11.5% |
| Intangible fixed assets | 21 | €1,380 | €690 | -€690 | -50.0% |
| Tangible fixed assets | 22/27 | €6,079 | €4,462 | -€1,618 | -26.6% |
| Plant, machinery and equipment | 23 | €3,217 | €2,299 | -€918 | -28.5% |
| Furniture and vehicles | 24 | €2,862 | €2,163 | -€700 | -24.4% |
| Financial fixed assets | 28 | €12,650 | €12,650 | = | 0.0% |
| Current assets | 29/58 | €63,211 | €74,296 | +€11,085 | +17.5% |
| Stocks and contracts in progress | 3 | €58,234 | €65,944 | +€7,710 | +13.2% |
| Stocks | 30/36 | €58,234 | €65,944 | +€7,710 | +13.2% |
| Amounts receivable within one year | 40/41 | €2,636 | - | -€2,636 | |
| Trade receivables | 40 | €2,485 | - | -€2,485 | |
| Other amounts receivable | 41 | €150 | - | -€150 | |
| Cash at bank and in hand | 54/58 | €1,899 | €8,352 | +€6,453 | +339.8% |
| Deferred charges and accrued income | 490/1 | €442 | - | -€442 | |
| Total equity and liabilities | 10/49 | €83,320 | €92,098 | +€8,778 | +10.5% |
| Equity | 10/15 | €35,139 | €58,171 | +€23,032 | +65.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Legal reserve | 130 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,061 | -€4,029 | +€23,032 | +85.1% |
| Amounts payable | 17/49 | €48,182 | €33,927 | -€14,255 | -29.6% |
| Amounts payable within one year | 42/48 | €48,182 | €33,927 | -€14,255 | -29.6% |
| Trade debts | 44 | €796 | €1,593 | +€797 | +100.0% |
| Suppliers | 440/4 | €796 | €1,593 | +€797 | +100.0% |
| Taxes, remuneration and social security | 45 | €7,877 | €15,112 | +€7,235 | +91.8% |
| Taxes | 450/3 | - | €2,507 | +€2,507 | |
| Remuneration and social security | 454/9 | €7,877 | €12,605 | +€4,728 | +60.0% |
| Other amounts payable | 47/48 | €39,508 | €17,222 | -€22,286 | -56.4% |
| Remuneration, social security and pensions | 62 | €22,518 | €30,022 | +€7,504 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,205 | €2,308 | +€102 | +4.6% |
| Other operating charges | 640/8 | €2,184 | €2,094 | -€90 | -4.1% |
| Gross operating margin | 9900 | €40,160 | €65,870 | +€25,710 | +64.0% |
| Operating profit (loss) | 9901 | €13,252 | €31,446 | +€18,194 | +137.3% |
| Financial income | 75/76B | €480 | €225 | -€255 | -53.1% |
| Recurring financial income | 75 | €480 | €105 | -€375 | -78.1% |
| Non-recurring financial income | 76B | €480 | €120 | -€360 | -75.0% |
| Financial charges | 65/66B | €5,126 | €6,984 | +€1,858 | +36.2% |
| Recurring financial charges | 65 | €5,126 | €6,984 | +€1,858 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €8,606 | €24,687 | +€16,081 | +186.9% |
| Income taxes | 67/77 | - | €1,655 | +€1,655 | |
| Profit (loss) for the period | 9904 | €8,606 | €23,032 | +€14,426 | +167.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,606 | €23,032 | +€14,426 | +167.6% |
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 12 October 2026 via checked.be.