SENAD: 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.
SENAD
Largest movements
- Receivables within one year +€16,343
up €16,343 (+878%), from €1,861 to €18,204
- Cash +€11,482
up €11,482 (+49.0%), from €23,425 to €34,907
mainly Net result for the year (+€12,382) and Stocks and contracts (+€7,524)
- Stocks and contracts -€7,524
down €7,524 (-47.2%), from €15,956 to €8,431
- Tangible fixed assets +€1,604
up €1,604 (+156%), from €1,029 to €2,633
- Profit (loss) carried forward +€12,382
up €12,382 (+21.0%), from -€58,851 to -€46,469
- Trade debts +€6,688
up €6,688 (+8.1%), from €82,406 to €89,095
- Tax, wage and social debts +€2,834
up €2,834 (+62.9%), from €4,508 to €7,341
- Turnover -€400,325
no longer reported in 2025 (was €400,325)
- Purchases and services -€289,761
no longer reported in 2025 (was €289,761)
- Gross operating margin +€15,753
up €15,753 (+14.2%), from €110,564 to €126,317
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.
Derived cash bridge
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 | €42,271 | €64,175 | +€21,904 | +51.8% |
| Fixed assets | 21/28 | €1,029 | €2,633 | +€1,604 | +156% |
| Tangible fixed assets | 22/27 | €1,029 | €2,633 | +€1,604 | +156% |
| Furniture and vehicles | 24 | €1,029 | €2,633 | +€1,604 | +156% |
| Current assets | 29/58 | €41,242 | €61,542 | +€20,300 | +49.2% |
| Stocks and contracts in progress | 3 | €15,956 | €8,431 | -€7,524 | -47.2% |
| Stocks | 30/36 | €15,956 | €8,431 | -€7,524 | -47.2% |
| Amounts receivable within one year | 40/41 | €1,861 | €18,204 | +€16,343 | +878% |
| Other amounts receivable | 41 | €1,861 | €18,204 | +€16,343 | +878% |
| Cash at bank and in hand | 54/58 | €23,425 | €34,907 | +€11,482 | +49.0% |
| Total equity and liabilities | 10/49 | €42,271 | €64,175 | +€21,904 | +51.8% |
| Equity | 10/15 | -€46,298 | -€33,916 | +€12,382 | +26.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €153 | €153 | = | 0.0% |
| Non-distributable reserves | 130/1 | €153 | €153 | = | 0.0% |
| Reserves not available under the articles | 1311 | €153 | €153 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,851 | -€46,469 | +€12,382 | +21.0% |
| Amounts payable | 17/49 | €88,569 | €98,091 | +€9,522 | +10.8% |
| Amounts payable within one year | 42/48 | €88,569 | €98,091 | +€9,522 | +10.8% |
| Trade debts | 44 | €82,406 | €89,095 | +€6,688 | +8.1% |
| Suppliers | 440/4 | €82,406 | €89,095 | +€6,688 | +8.1% |
| Taxes, remuneration and social security | 45 | €4,508 | €7,341 | +€2,834 | +62.9% |
| Taxes | 450/3 | €4,508 | €7,341 | +€2,834 | +62.9% |
| Other amounts payable | 47/48 | €1,655 | €1,655 | = | 0.0% |
| Turnover | 70 | €400,325 | - | -€400,325 | |
| Goods, raw materials, services and sundry goods | 60/61 | €289,761 | - | -€289,761 | |
| Remuneration, social security and pensions | 62 | €115,788 | €112,935 | -€2,854 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €487 | +€229 | +89.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,112 | - | -€2,112 | |
| Other operating charges | 640/8 | €864 | €352 | -€513 | -59.3% |
| Gross operating margin | 9900 | €110,564 | €126,317 | +€15,753 | +14.2% |
| Operating profit (loss) | 9901 | -€8,458 | €12,545 | +€21,002 | |
| Financial charges | 65/66B | €141 | €163 | +€22 | +16.0% |
| Recurring financial charges | 65 | €141 | €163 | +€22 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,598 | €12,382 | +€20,980 | |
| Income taxes | 67/77 | €1,478 | - | -€1,478 | |
| Profit (loss) for the period | 9904 | -€10,076 | €12,382 | +€22,458 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,076 | €12,382 | +€22,458 |
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 26 October 2026 via checked.be.