SEKEL: what changed
Two fiscal 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.
SEKEL
Largest movements
- Tangible fixed assets -€29,083
down €29,083 (-8.9%), from €327,872 to €298,789
of which Other tangible fixed assets: -€22,938
- Cash -€9,420
down €9,420 (-15.3%), from €61,683 to €52,263
mainly Net result for the year (-€27,272) and Other debts (-€9,373)
- Reserves -€27,272
down €27,272 (-8.1%), from €336,106 to €308,834
of which Distributable reserves: -€27,272
- Other debts -€9,373
down €9,373 (-100.0%), from €9,373 to €0
- Gross operating margin +€3,547
up €3,547 (+1467.5%), from €242 to €3,788
- Depreciation +€1,887
up €1,887 (+6.9%), from €27,196 to €29,083
- Other operating charges +€92
up €92 (+4.6%), from €2,017 to €2,110
- Financial income +€58
up €58 (+29.5%), from €196 to €254
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 | €409,004 | €371,491 | -€37,513 | -9.2% |
| Fixed assets | 21/28 | €327,872 | €298,789 | -€29,083 | -8.9% |
| Tangible fixed assets | 22/27 | €327,872 | €298,789 | -€29,083 | -8.9% |
| Furniture and vehicles | 24 | €27,326 | €21,181 | -€6,145 | -22.5% |
| Other tangible fixed assets | 26 | €300,546 | €277,608 | -€22,938 | -7.6% |
| Current assets | 29/58 | €81,132 | €72,702 | -€8,430 | -10.4% |
| Amounts receivable within one year | 40/41 | €18,003 | €18,613 | +€611 | +3.4% |
| Trade receivables | 40 | €7,791 | €9,025 | +€1,234 | +15.8% |
| Other amounts receivable | 41 | €10,212 | €9,588 | -€623 | -6.1% |
| Cash at bank and in hand | 54/58 | €61,683 | €52,263 | -€9,420 | -15.3% |
| Deferred charges and accrued income | 490/1 | €1,446 | €1,825 | +€379 | +26.2% |
| Total equity and liabilities | 10/49 | €409,004 | €371,491 | -€37,513 | -9.2% |
| Equity | 10/15 | €398,106 | €370,834 | -€27,272 | -6.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €336,106 | €308,834 | -€27,272 | -8.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €336,106 | €308,834 | -€27,272 | -8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,899 | €657 | -€10,242 | -94.0% |
| Amounts payable within one year | 42/48 | €10,899 | €657 | -€10,242 | -94.0% |
| Trade debts | 44 | €1,339 | €0 | -€1,339 | -100.0% |
| Suppliers | 440/4 | €1,339 | €0 | -€1,339 | -100.0% |
| Taxes, remuneration and social security | 45 | €187 | €657 | +€471 | +252.3% |
| Taxes | 450/3 | €187 | €657 | +€471 | +252.3% |
| Other amounts payable | 47/48 | €9,373 | €0 | -€9,373 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,196 | €29,083 | +€1,887 | +6.9% |
| Other operating charges | 640/8 | €2,017 | €2,110 | +€92 | +4.6% |
| Gross operating margin | 9900 | €242 | €3,788 | +€3,547 | +1467.5% |
| Operating profit (loss) | 9901 | -€28,972 | -€27,404 | +€1,567 | +5.4% |
| Financial income | 75/76B | €196 | €254 | +€58 | +29.5% |
| Recurring financial income | 75 | €196 | €254 | +€58 | +29.5% |
| Financial charges | 65/66B | €64 | €60 | -€5 | -7.6% |
| Recurring financial charges | 65 | €64 | €60 | -€5 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,840 | -€27,210 | +€1,630 | +5.7% |
| Income taxes | 67/77 | €31 | €62 | +€31 | +97.3% |
| Profit (loss) for the period | 9904 | -€28,871 | -€27,272 | +€1,599 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,871 | -€27,272 | +€1,599 | +5.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.