Seize 40: what changed
Seize 40
Largest movements
- Tangible fixed assets -€21,175
down €21,175 (-11.6%), from €182,381 to €161,206
of which Other tangible fixed assets: -€20,894
- Receivables within one year -€7,898
down €7,898 (-93.8%), from €8,420 to €522
of which Trade receivables: -€7,405
- Cash +€7,599
up €7,599 (+92.7%), from €8,199 to €15,799
mainly Other debts (+€35,914) and Depreciation (+€21,175)
- Profit (loss) carried forward -€39,514
down €39,514 (-45.1%), from -€87,682 to -€127,196
- Other debts +€35,914
up €35,914 (+45.0%), from €79,882 to €115,796
- Debts after one year -€26,713
down €26,713 (-22.3%), from €119,708 to €92,994
- Trade debts +€11,603
up €11,603 (+22.0%), from €52,694 to €64,297
- Tax, wage and social debts -€8,797
down €8,797 (-73.1%), from €12,035 to €3,238
of which Taxes: -€6,316
- Staff costs -€49,895
down €49,895 (-99.1%), from €50,332 to €437
- Gross operating margin -€17,779
down €17,779, from €7,714 to -€10,065
- Financial charges +€2,395
up €2,395 (+36.7%), from €6,527 to €8,922
- Depreciation +€1,950
up €1,950 (+10.1%), from €19,226 to €21,175
- Financial income +€1,709
up €1,709 (+2,216%), from €77 to €1,786
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 | €206,152 | €185,383 | -€20,769 | -10.1% |
| Fixed assets | 21/28 | €185,269 | €164,094 | -€21,175 | -11.4% |
| Tangible fixed assets | 22/27 | €182,381 | €161,206 | -€21,175 | -11.6% |
| Furniture and vehicles | 24 | €1,120 | €839 | -€281 | -25.1% |
| Other tangible fixed assets | 26 | €181,261 | €160,367 | -€20,894 | -11.5% |
| Financial fixed assets | 28 | €2,888 | €2,888 | = | 0.0% |
| Current assets | 29/58 | €20,883 | €21,289 | +€406 | +1.9% |
| Stocks and contracts in progress | 3 | €4,256 | €4,715 | +€458 | +10.8% |
| Stocks | 30/36 | €4,256 | €4,715 | +€458 | +10.8% |
| Amounts receivable within one year | 40/41 | €8,420 | €522 | -€7,898 | -93.8% |
| Trade receivables | 40 | €7,405 | - | -€7,405 | |
| Other amounts receivable | 41 | €1,015 | €522 | -€492 | -48.5% |
| Cash at bank and in hand | 54/58 | €8,199 | €15,799 | +€7,599 | +92.7% |
| Deferred charges and accrued income | 490/1 | €7 | €254 | +€246 | +3,350% |
| Total equity and liabilities | 10/49 | €206,152 | €185,383 | -€20,769 | -10.1% |
| Equity | 10/15 | -€82,682 | -€122,196 | -€39,514 | -47.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,682 | -€127,196 | -€39,514 | -45.1% |
| Amounts payable | 17/49 | €288,834 | €307,579 | +€18,745 | +6.5% |
| Amounts payable after more than one year | 17 | €119,708 | €92,994 | -€26,713 | -22.3% |
| Financial debts | 170/4 | €119,708 | €92,994 | -€26,713 | -22.3% |
| Amounts payable within one year | 42/48 | €168,794 | €214,471 | +€45,677 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €20,621 | €25,204 | +€4,584 | +22.2% |
| Financial debts | 43 | €3,562 | €5,936 | +€2,374 | +66.6% |
| Other loans | 439 | €3,562 | €5,936 | +€2,374 | +66.6% |
| Trade debts | 44 | €52,694 | €64,297 | +€11,603 | +22.0% |
| Suppliers | 440/4 | €52,694 | €64,297 | +€11,603 | +22.0% |
| Taxes, remuneration and social security | 45 | €12,035 | €3,238 | -€8,797 | -73.1% |
| Taxes | 450/3 | €9,553 | €3,238 | -€6,316 | -66.1% |
| Remuneration and social security | 454/9 | €2,481 | - | -€2,481 | |
| Other amounts payable | 47/48 | €79,882 | €115,796 | +€35,914 | +45.0% |
| Accrued charges and deferred income | 492/3 | €333 | €114 | -€219 | -65.8% |
| Remuneration, social security and pensions | 62 | €50,332 | €437 | -€49,895 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,226 | €21,175 | +€1,950 | +10.1% |
| Other operating charges | 640/8 | €880 | €700 | -€180 | -20.5% |
| Gross operating margin | 9900 | €7,714 | -€10,065 | -€17,779 | |
| Operating profit (loss) | 9901 | -€62,724 | -€32,378 | +€30,346 | +48.4% |
| Financial income | 75/76B | €77 | €1,786 | +€1,709 | +2,216% |
| Recurring financial income | 75 | €77 | €1,786 | +€1,709 | +2,216% |
| Financial charges | 65/66B | €6,527 | €8,922 | +€2,395 | +36.7% |
| Recurring financial charges | 65 | €6,527 | €8,922 | +€2,395 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | -€69,173 | -€39,514 | +€29,660 | +42.9% |
| Profit (loss) for the period | 9904 | -€69,173 | -€39,514 | +€29,660 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,173 | -€39,514 | +€29,660 | +42.9% |
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.