Seminare: 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.
Seminare
Largest movements
- Cash +€178,658
up €178,658 (+35.9%), from €498,129 to €676,787
mainly Net result for the year (+€129,006) and Stocks and contracts (+€110,000)
- Stocks and contracts -€110,000
down €110,000 (-11.9%), from €923,000 to €813,000
- Profit (loss) carried forward +€129,006
up €129,006 (+21.6%), from €595,899 to €724,906
- Other debts -€100,000
down €100,000 (-2.0%), from €5.1m to €5.0m
- Gross operating margin +€128,464
up €128,464 (+151.0%), from €85,101 to €213,565
- Financial income -€2,415
down €2,415 (-67.9%), from €3,554 to €1,140
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 | €5,765,872 | €5,765,103 | -€769 | 0.0% |
| Fixed assets | 21/28 | €1,582,896 | €1,562,370 | -€20,526 | -1.3% |
| Tangible fixed assets | 22/27 | €82,896 | €62,370 | -€20,526 | -24.8% |
| Furniture and vehicles | 24 | €82,896 | €62,370 | -€20,526 | -24.8% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €4,182,976 | €4,202,734 | +€19,758 | +0.5% |
| Stocks and contracts in progress | 3 | €923,000 | €813,000 | -€110,000 | -11.9% |
| Stocks | 30/36 | €923,000 | €813,000 | -€110,000 | -11.9% |
| Amounts receivable within one year | 40/41 | €2,761,847 | €2,712,947 | -€48,900 | -1.8% |
| Trade receivables | 40 | €89,580 | €41,180 | -€48,400 | -54.0% |
| Other amounts receivable | 41 | €2,672,267 | €2,671,767 | -€500 | 0.0% |
| Cash at bank and in hand | 54/58 | €498,129 | €676,787 | +€178,658 | +35.9% |
| Total equity and liabilities | 10/49 | €5,765,872 | €5,765,103 | -€769 | 0.0% |
| Equity | 10/15 | €610,159 | €739,166 | +€129,006 | +21.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €595,899 | €724,906 | +€129,006 | +21.6% |
| Amounts payable | 17/49 | €5,155,712 | €5,025,938 | -€129,775 | -2.5% |
| Amounts payable within one year | 42/48 | €5,155,712 | €5,025,938 | -€129,775 | -2.5% |
| Financial debts | 43 | €30,000 | - | -€30,000 | |
| Credit institutions | 430/8 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €25,000 | - | -€25,000 | |
| Suppliers | 440/4 | €25,000 | - | -€25,000 | |
| Taxes, remuneration and social security | 45 | €4,502 | €29,727 | +€25,225 | +560.4% |
| Taxes | 450/3 | €4,502 | €29,727 | +€25,225 | +560.4% |
| Other amounts payable | 47/48 | €5,096,211 | €4,996,211 | -€100,000 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,736 | €20,526 | +€791 | +4.0% |
| Other operating charges | 640/8 | €8,304 | €8,177 | -€127 | -1.5% |
| Gross operating margin | 9900 | €85,101 | €213,565 | +€128,464 | +151.0% |
| Operating profit (loss) | 9901 | €57,061 | €184,861 | +€127,800 | +224.0% |
| Financial income | 75/76B | €3,554 | €1,140 | -€2,415 | -67.9% |
| Recurring financial income | 75 | €3,554 | €1,140 | -€2,415 | -67.9% |
| Financial charges | 65/66B | €55,546 | €56,645 | +€1,099 | +2.0% |
| Recurring financial charges | 65 | €55,546 | €56,645 | +€1,099 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €5,070 | €129,356 | +€124,286 | +2451.3% |
| Income taxes | 67/77 | €348 | €350 | +€2 | +0.7% |
| Profit (loss) for the period | 9904 | €4,722 | €129,006 | +€124,284 | +2631.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,722 | €129,006 | +€124,284 | +2631.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.