SEIPS: 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.
SEIPS
Largest movements
- Cash -€475
down €475 (-56.7%), from €838 to €363
mainly Net result for the year (-€3,937) and Trade debts (-€359)
- Receivables within one year -€365
down €365 (-79.7%), from €459 to €93
- Tangible fixed assets -€74
down €74 (-30.5%), from €243 to €169
- Deferred charges and accrued income +€58
up €58 (+73.7%), from €78 to €136
- Profit (loss) carried forward -€3,937
down €3,937 (-3.0%), from -€132,489 to -€136,426
- Other debts +€3,430
up €3,430 (+3.0%), from €115,329 to €118,759
- Trade debts -€359
down €359 (-39.8%), from €902 to €543
- Gross operating margin +€470
up €470 (+12.4%), from -€3,772 to -€3,303
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 | €4,206 | €3,349 | -€857 | -20.4% |
| Fixed assets | 21/28 | €243 | €169 | -€74 | -30.5% |
| Tangible fixed assets | 22/27 | €243 | €169 | -€74 | -30.5% |
| Furniture and vehicles | 24 | €243 | €169 | -€74 | -30.5% |
| Current assets | 29/58 | €3,963 | €3,180 | -€783 | -19.8% |
| Stocks and contracts in progress | 3 | €2,588 | €2,588 | = | 0.0% |
| Stocks | 30/36 | €2,588 | €2,588 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €459 | €93 | -€365 | -79.7% |
| Other amounts receivable | 41 | €459 | €93 | -€365 | -79.7% |
| Cash at bank and in hand | 54/58 | €838 | €363 | -€475 | -56.7% |
| Deferred charges and accrued income | 490/1 | €78 | €136 | +€58 | +73.7% |
| Total equity and liabilities | 10/49 | €4,206 | €3,349 | -€857 | -20.4% |
| Equity | 10/15 | -€112,029 | -€115,966 | -€3,937 | -3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,489 | -€136,426 | -€3,937 | -3.0% |
| Amounts payable | 17/49 | €116,235 | €119,315 | +€3,080 | +2.6% |
| Amounts payable within one year | 42/48 | €116,235 | €119,315 | +€3,080 | +2.6% |
| Trade debts | 44 | €902 | €543 | -€359 | -39.8% |
| Suppliers | 440/4 | €902 | €543 | -€359 | -39.8% |
| Taxes, remuneration and social security | 45 | €4 | €13 | +€9 | +243% |
| Taxes | 450/3 | €4 | €13 | +€9 | +243% |
| Other amounts payable | 47/48 | €115,329 | €118,759 | +€3,430 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74 | €74 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€3,772 | -€3,303 | +€470 | +12.4% |
| Operating profit (loss) | 9901 | -€4,352 | -€3,897 | +€455 | +10.5% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.1% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,395 | -€3,937 | +€458 | +10.4% |
| Profit (loss) for the period | 9904 | -€4,395 | -€3,937 | +€458 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,395 | -€3,937 | +€458 | +10.4% |
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 13 October 2026 via checked.be.