SEN MANAGEMENT: 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.
SEN MANAGEMENT
Largest movements
- Receivables within one year +€60,003
up €60,003 (+317.7%), from €18,885 to €78,888
of which Trade receivables: +€42,425
- Cash +€49,480
up €49,480 (+51980.7%), from €95 to €49,576
mainly Net result for the year (+€42,675) and Tax, wage and social debts (+€39,663)
- Financial fixed assets +€3,000
new in 2025: €3,000
- Reserves +€47,387
new in 2025: €47,387
- Tax, wage and social debts +€39,663
up €39,663 (+1330.6%), from €2,981 to €42,644
of which Taxes: +€33,478
- Trade debts +€16,039
up €16,039 (+891.5%), from €1,799 to €17,839
- Other debts +€15,299
up €15,299 (+235.8%), from €6,488 to €21,787
- Profit (loss) carried forward -€4,713
no longer reported in 2025 (was €4,713)
- Gross operating margin +€105,436
up €105,436 (+1067.4%), from €9,878 to €115,314
- Staff costs +€55,518
new in 2025: €55,518
- Taxes +€14,134
up €14,134 (+556.6%), from €2,539 to €16,674
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 | €18,980 | €132,657 | +€113,677 | +598.9% |
| Fixed assets | 21/28 | - | €3,943 | +€3,943 | |
| Tangible fixed assets | 22/27 | - | €943 | +€943 | |
| Furniture and vehicles | 24 | - | €943 | +€943 | |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €18,980 | €128,714 | +€109,734 | +578.1% |
| Amounts receivable within one year | 40/41 | €18,885 | €78,888 | +€60,003 | +317.7% |
| Trade receivables | 40 | €18,320 | €60,745 | +€42,425 | +231.6% |
| Other amounts receivable | 41 | €565 | €18,143 | +€17,577 | +3110.2% |
| Cash at bank and in hand | 54/58 | €95 | €49,576 | +€49,480 | +51980.7% |
| Deferred charges and accrued income | 490/1 | - | €251 | +€251 | |
| Total equity and liabilities | 10/49 | €18,980 | €132,657 | +€113,677 | +598.9% |
| Equity | 10/15 | €7,713 | €50,387 | +€42,675 | +553.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €47,387 | +€47,387 | |
| Distributable reserves | 133 | - | €47,387 | +€47,387 | |
| Profit (loss) carried forward | 14 | €4,713 | - | -€4,713 | |
| Amounts payable | 17/49 | €11,268 | €82,270 | +€71,002 | +630.1% |
| Amounts payable within one year | 42/48 | €11,268 | €82,270 | +€71,002 | +630.1% |
| Trade debts | 44 | €1,799 | €17,839 | +€16,039 | +891.5% |
| Suppliers | 440/4 | €1,799 | €17,839 | +€16,039 | +891.5% |
| Taxes, remuneration and social security | 45 | €2,981 | €42,644 | +€39,663 | +1330.6% |
| Taxes | 450/3 | €2,981 | €36,459 | +€33,478 | +1123.1% |
| Remuneration and social security | 454/9 | - | €6,185 | +€6,185 | |
| Other amounts payable | 47/48 | €6,488 | €21,787 | +€15,299 | +235.8% |
| Remuneration, social security and pensions | 62 | - | €55,518 | +€55,518 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €230 | +€230 | |
| Gross operating margin | 9900 | €9,878 | €115,314 | +€105,436 | +1067.4% |
| Operating profit (loss) | 9901 | €9,878 | €59,566 | +€49,689 | +503.0% |
| Financial income | 75/76B | - | €275 | +€275 | |
| Recurring financial income | 75 | - | €275 | +€275 | |
| Financial charges | 65/66B | €101 | €493 | +€392 | +388.0% |
| Recurring financial charges | 65 | €101 | €493 | +€392 | +388.0% |
| Profit (loss) for the period before taxes | 9903 | €9,777 | €59,348 | +€49,571 | +507.0% |
| Income taxes | 67/77 | €2,539 | €16,674 | +€14,134 | +556.6% |
| Profit (loss) for the period | 9904 | €7,237 | €42,675 | +€35,437 | +489.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,237 | €42,675 | +€35,437 | +489.6% |
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 9 October 2026 via checked.be.