Seiton: 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.
Seiton
Largest movements
- Receivables within one year -€730,137
down €730,137 (-32.5%), from €2.2m to €1.5m
of which Trade receivables: -€741,817
- Stocks and contracts +€727,001
up €727,001 (+146%), from €499,022 to €1.2m
- Tangible fixed assets +€639,291
up €639,291 (+384%), from €166,459 to €805,749
of which Land and buildings: +€513,184
- Trade debts -€759,337
down €759,337 (-92.5%), from €821,209 to €61,872
- Reserves +€559,331
up €559,331 (+98.7%), from €566,730 to €1.1m
- Other debts +€479,847
up €479,847, from €0 to €479,847
- Debts after one year +€369,984
up €369,984 (+30.0%), from €1.2m to €1.6m
- Tax, wage and social debts +€45,329
up €45,329 (+16.4%), from €276,997 to €322,326
of which Remuneration and social security: +€33,689
- Gross operating margin +€653,122
up €653,122 (+63.6%), from €1.0m to €1.7m
- Staff costs +€229,305
up €229,305 (+43.3%), from €530,167 to €759,472
- Depreciation +€26,682
up €26,682 (+57.3%), from €46,548 to €73,230
- Taxes +€20,072
up €20,072 (+21.5%), from €93,535 to €113,607
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,220,442 | €3,866,615 | +€646,173 | +20.1% |
| Formation expenses | 20 | €50 | €0 | -€50 | -100% |
| Fixed assets | 21/28 | €182,907 | €818,134 | +€635,227 | +347% |
| Intangible fixed assets | 21 | €16,449 | €12,385 | -€4,064 | -24.7% |
| Tangible fixed assets | 22/27 | €166,459 | €805,749 | +€639,291 | +384% |
| Land and buildings | 22 | - | €513,184 | +€513,184 | |
| Plant, machinery and equipment | 23 | €340 | €56,057 | +€55,717 | +16,395% |
| Furniture and vehicles | 24 | €135,864 | €209,821 | +€73,957 | +54.4% |
| Other tangible fixed assets | 26 | €30,255 | €26,688 | -€3,567 | -11.8% |
| Current assets | 29/58 | €3,037,485 | €3,048,481 | +€10,997 | +0.4% |
| Stocks and contracts in progress | 3 | €499,022 | €1,226,023 | +€727,001 | +146% |
| Stocks | 30/36 | €499,022 | €1,226,023 | +€727,001 | +146% |
| Amounts receivable within one year | 40/41 | €2,249,862 | €1,519,725 | -€730,137 | -32.5% |
| Trade receivables | 40 | €2,215,760 | €1,473,944 | -€741,817 | -33.5% |
| Other amounts receivable | 41 | €34,102 | €45,781 | +€11,679 | +34.2% |
| Cash at bank and in hand | 54/58 | €272,098 | €255,342 | -€16,756 | -6.2% |
| Deferred charges and accrued income | 490/1 | €16,503 | €47,392 | +€30,889 | +187% |
| Total equity and liabilities | 10/49 | €3,220,442 | €3,866,615 | +€646,173 | +20.1% |
| Equity | 10/15 | €567,210 | €1,126,541 | +€559,331 | +98.6% |
| Contributions | 10/11 | €480 | €480 | = | 0.0% |
| Reserves | 13 | €566,730 | €1,126,061 | +€559,331 | +98.7% |
| Distributable reserves | 133 | €566,730 | €1,126,061 | +€559,331 | +98.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,653,232 | €2,740,074 | +€86,843 | +3.3% |
| Amounts payable after more than one year | 17 | €1,234,578 | €1,604,562 | +€369,984 | +30.0% |
| Financial debts | 170/4 | €1,234,578 | €1,604,562 | +€369,984 | +30.0% |
| Amounts payable within one year | 42/48 | €1,388,393 | €1,113,708 | -€274,685 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €131,448 | €116,000 | -€15,448 | -11.8% |
| Financial debts | 43 | €158,739 | €133,662 | -€25,077 | -15.8% |
| Credit institutions | 430/8 | €158,739 | €133,662 | -€25,077 | -15.8% |
| Trade debts | 44 | €821,209 | €61,872 | -€759,337 | -92.5% |
| Suppliers | 440/4 | €821,209 | €61,872 | -€759,337 | -92.5% |
| Taxes, remuneration and social security | 45 | €276,997 | €322,326 | +€45,329 | +16.4% |
| Taxes | 450/3 | €212,388 | €224,028 | +€11,641 | +5.5% |
| Remuneration and social security | 454/9 | €64,609 | €98,298 | +€33,689 | +52.1% |
| Other amounts payable | 47/48 | €0 | €479,847 | +€479,847 | |
| Accrued charges and deferred income | 492/3 | €30,261 | €21,804 | -€8,457 | -27.9% |
| Remuneration, social security and pensions | 62 | €530,167 | €759,472 | +€229,305 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,548 | €73,230 | +€26,682 | +57.3% |
| Other operating charges | 640/8 | €2,039 | €2,846 | +€807 | +39.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,026,914 | €1,680,036 | +€653,122 | +63.6% |
| Operating profit (loss) | 9901 | €448,160 | €844,488 | +€396,327 | +88.4% |
| Financial income | 75/76B | €32,110 | €16,792 | -€15,317 | -47.7% |
| Recurring financial income | 75 | €32,110 | €16,792 | -€15,317 | -47.7% |
| Financial charges | 65/66B | €87,525 | €98,342 | +€10,817 | +12.4% |
| Recurring financial charges | 65 | €87,525 | €98,342 | +€10,817 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €392,745 | €762,938 | +€370,193 | +94.3% |
| Income taxes | 67/77 | €93,535 | €113,607 | +€20,072 | +21.5% |
| Profit (loss) for the period | 9904 | €299,209 | €649,331 | +€350,122 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €299,209 | €649,331 | +€350,122 | +117% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.