SEnC: 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.
SEnC
Largest movements
- Cash +€159,148
up €159,148 (+274.2%), from €58,041 to €217,190
mainly Net result for the year (+€96,400) and Receivables within one year (+€37,038)
- Receivables within one year -€37,038
down €37,038 (-45.7%), from €81,052 to €44,014
of which Other amounts receivable: -€42,768
- Profit (loss) carried forward +€96,400
up €96,400 (+88.4%), from €109,062 to €205,463
- Tax, wage and social debts +€25,199
up €25,199 (+70.4%), from €35,774 to €60,973
of which Taxes: +€25,199
- Trade debts -€2,883
down €2,883 (-35.5%), from €8,113 to €5,230
- Gross operating margin +€18,840
up €18,840 (+17.2%), from €109,515 to €128,356
- Taxes +€4,434
up €4,434 (+19.3%), from €22,959 to €27,393
- Financial charges +€1,992
up €1,992 (+77.4%), from €2,575 to €4,566
- Financial income +€1,438
up €1,438 (+111.7%), from €1,287 to €2,726
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 | €153,949 | €272,666 | +€118,717 | +77.1% |
| Fixed assets | 21/28 | €10,763 | €8,902 | -€1,861 | -17.3% |
| Tangible fixed assets | 22/27 | €5,763 | €3,902 | -€1,861 | -32.3% |
| Land and buildings | 22 | €3,284 | €2,911 | -€373 | -11.4% |
| Furniture and vehicles | 24 | €2,479 | €992 | -€1,488 | -60.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €143,186 | €263,764 | +€120,578 | +84.2% |
| Amounts receivable within one year | 40/41 | €81,052 | €44,014 | -€37,038 | -45.7% |
| Trade receivables | 40 | €34,223 | €39,953 | +€5,731 | +16.7% |
| Other amounts receivable | 41 | €46,829 | €4,060 | -€42,768 | -91.3% |
| Cash at bank and in hand | 54/58 | €58,041 | €217,190 | +€159,148 | +274.2% |
| Deferred charges and accrued income | 490/1 | €4,093 | €2,560 | -€1,533 | -37.5% |
| Total equity and liabilities | 10/49 | €153,949 | €272,666 | +€118,717 | +77.1% |
| Equity | 10/15 | €110,062 | €206,463 | +€96,400 | +87.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,062 | €205,463 | +€96,400 | +88.4% |
| Amounts payable | 17/49 | €43,887 | €66,203 | +€22,317 | +50.9% |
| Amounts payable within one year | 42/48 | €43,887 | €66,203 | +€22,317 | +50.9% |
| Trade debts | 44 | €8,113 | €5,230 | -€2,883 | -35.5% |
| Suppliers | 440/4 | €8,113 | €5,230 | -€2,883 | -35.5% |
| Taxes, remuneration and social security | 45 | €35,774 | €60,973 | +€25,199 | +70.4% |
| Taxes | 450/3 | €35,774 | €60,973 | +€25,199 | +70.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,793 | €1,861 | +€68 | +3.8% |
| Other operating charges | 640/8 | €283 | €860 | +€577 | +204.0% |
| Gross operating margin | 9900 | €109,515 | €128,356 | +€18,840 | +17.2% |
| Operating profit (loss) | 9901 | €107,440 | €125,634 | +€18,195 | +16.9% |
| Financial income | 75/76B | €1,287 | €2,726 | +€1,438 | +111.7% |
| Recurring financial income | 75 | €1,287 | €2,726 | +€1,438 | +111.7% |
| Financial charges | 65/66B | €2,575 | €4,566 | +€1,992 | +77.4% |
| Recurring financial charges | 65 | €2,575 | €4,566 | +€1,992 | +77.4% |
| Profit (loss) for the period before taxes | 9903 | €106,153 | €123,794 | +€17,641 | +16.6% |
| Income taxes | 67/77 | €22,959 | €27,393 | +€4,434 | +19.3% |
| Profit (loss) for the period | 9904 | €83,193 | €96,400 | +€13,207 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,193 | €96,400 | +€13,207 | +15.9% |
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 28 September 2026 via checked.be.