SENAEVE-CASIER: 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.
SENAEVE-CASIER
Largest movements
- Tangible fixed assets -€8,806
down €8,806 (-37.9%), from €23,218 to €14,412
of which Plant, machinery and equipment: -€8,683
- Cash +€3,510
up €3,510 (+429%), from €819 to €4,328
mainly Depreciation (+€8,806) and Trade debts (+€4,289)
- Receivables within one year +€1,924
up €1,924 (+25.9%), from €7,423 to €9,346
of which Trade receivables: +€2,056
- Stocks and contracts -€800
down €800 (-9.1%), from €8,800 to €8,000
- Profit (loss) carried forward -€4,453
down €4,453 (-13.6%), from -€32,722 to -€37,174
- Trade debts +€4,289
up €4,289 (+36.5%), from €11,750 to €16,040
- Debts after one year -€3,878
down €3,878 (-14.0%), from €27,751 to €23,873
of which Financial debts: -€6,878
- Gross operating margin -€3,501
down €3,501 (-9.4%), from €37,231 to €33,729
- Staff costs +€1,782
up €1,782 (+6.9%), from €25,788 to €27,570
- Depreciation -€616
down €616 (-6.5%), from €9,421 to €8,806
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 | €42,139 | €38,172 | -€3,967 | -9.4% |
| Fixed assets | 21/28 | €23,218 | €14,412 | -€8,806 | -37.9% |
| Tangible fixed assets | 22/27 | €23,218 | €14,412 | -€8,806 | -37.9% |
| Plant, machinery and equipment | 23 | €22,274 | €13,591 | -€8,683 | -39.0% |
| Other tangible fixed assets | 26 | €943 | €821 | -€122 | -13.0% |
| Current assets | 29/58 | €18,921 | €23,760 | +€4,838 | +25.6% |
| Stocks and contracts in progress | 3 | €8,800 | €8,000 | -€800 | -9.1% |
| Stocks | 30/36 | €8,800 | €8,000 | -€800 | -9.1% |
| Amounts receivable within one year | 40/41 | €7,423 | €9,346 | +€1,924 | +25.9% |
| Trade receivables | 40 | €7,204 | €9,260 | +€2,056 | +28.5% |
| Other amounts receivable | 41 | €218 | €86 | -€132 | -60.5% |
| Cash at bank and in hand | 54/58 | €819 | €4,328 | +€3,510 | +429% |
| Deferred charges and accrued income | 490/1 | €1,880 | €2,085 | +€205 | +10.9% |
| Total equity and liabilities | 10/49 | €42,139 | €38,172 | -€3,967 | -9.4% |
| Equity | 10/15 | -€14,122 | -€18,574 | -€4,453 | -31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,722 | -€37,174 | -€4,453 | -13.6% |
| Amounts payable | 17/49 | €56,261 | €56,747 | +€486 | +0.9% |
| Amounts payable after more than one year | 17 | €27,751 | €23,873 | -€3,878 | -14.0% |
| Financial debts | 170/4 | €12,751 | €5,873 | -€6,878 | -53.9% |
| Other amounts payable | 178/9 | €15,000 | €18,000 | +€3,000 | +20.0% |
| Amounts payable within one year | 42/48 | €28,510 | €32,746 | +€4,236 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €6,697 | €6,878 | +€180 | +2.7% |
| Trade debts | 44 | €11,750 | €16,040 | +€4,289 | +36.5% |
| Suppliers | 440/4 | €11,750 | €16,040 | +€4,289 | +36.5% |
| Taxes, remuneration and social security | 45 | €7,157 | €7,235 | +€78 | +1.1% |
| Taxes | 450/3 | €1,648 | €2,083 | +€434 | +26.4% |
| Remuneration and social security | 454/9 | €5,509 | €5,152 | -€356 | -6.5% |
| Other amounts payable | 47/48 | €2,906 | €2,593 | -€312 | -10.7% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Remuneration, social security and pensions | 62 | €25,788 | €27,570 | +€1,782 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,421 | €8,806 | -€616 | -6.5% |
| Other operating charges | 640/8 | €832 | €851 | +€18 | +2.2% |
| Gross operating margin | 9900 | €37,231 | €33,729 | -€3,501 | -9.4% |
| Operating profit (loss) | 9901 | €1,189 | -€3,497 | -€4,686 | |
| Financial charges | 65/66B | €1,058 | €956 | -€102 | -9.7% |
| Recurring financial charges | 65 | €1,058 | €956 | -€102 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €131 | -€4,453 | -€4,584 | |
| Profit (loss) for the period | 9904 | €131 | -€4,453 | -€4,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €131 | -€4,453 | -€4,584 |
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 25 October 2026 via checked.be.