SENECA: 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.
SENECA
Largest movements
- Current investments -€550,473
down €550,473 (-16.5%), from €3.3m to €2.8m
- Tangible fixed assets -€147,430
down €147,430 (-5.2%), from €2.9m to €2.7m
- Cash -€106,665
down €106,665 (-65.7%), from €162,460 to €55,795
mainly Short-term financial debts (-€1.1m) and Contributions, distributions and other (-€500,000)
- Short-term financial debts -€1.1m
down €1.1m (-56.8%), from €1.9m to €800,000
- Other debts +€205,524
up €205,524 (+69.8%), from €294,476 to €500,000
- Tax, wage and social debts +€110,966
up €110,966 (+401%), from €27,651 to €138,618
- Financial income +€658,836
up €658,836 (+140%), from €469,154 to €1.1m
- Taxes +€183,270
up €183,270 (+232%), from €79,021 to €262,291
- Financial charges +€154,184
up €154,184 (+257%), from €60,023 to €214,207
- Gross operating margin +€10,678
up €10,678, from -€498 to €10,180
- Depreciation -€3,678
down €3,678 (-2.4%), from €153,152 to €149,474
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,247,482 | €8,480,552 | -€766,930 | -8.3% |
| Fixed assets | 21/28 | €2,851,903 | €2,704,473 | -€147,430 | -5.2% |
| Tangible fixed assets | 22/27 | €2,851,331 | €2,703,901 | -€147,430 | -5.2% |
| Land and buildings | 22 | €2,162,904 | €2,109,027 | -€53,878 | -2.5% |
| Plant, machinery and equipment | 23 | €536,145 | €462,793 | -€73,352 | -13.7% |
| Furniture and vehicles | 24 | €152,282 | €132,081 | -€20,201 | -13.3% |
| Financial fixed assets | 28 | €572 | €572 | = | 0.0% |
| Current assets | 29/58 | €6,395,579 | €5,776,080 | -€619,499 | -9.7% |
| Amounts receivable after more than one year | 29 | €2,500,000 | €2,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,500,000 | €2,500,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €342,597 | €374,603 | +€32,007 | +9.3% |
| Trade receivables | 40 | €3,825 | €9,144 | +€5,319 | +139% |
| Other amounts receivable | 41 | €338,772 | €365,460 | +€26,688 | +7.9% |
| Current investments | 50/53 | €3,331,468 | €2,780,995 | -€550,473 | -16.5% |
| Cash at bank and in hand | 54/58 | €162,460 | €55,795 | -€106,665 | -65.7% |
| Deferred charges and accrued income | 490/1 | €53,054 | €58,686 | +€5,632 | +10.6% |
| Total equity and liabilities | 10/49 | €9,247,482 | €8,480,552 | -€766,930 | -8.3% |
| Equity | 10/15 | €7,033,162 | €7,022,509 | -€10,653 | -0.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,817,208 | €6,806,555 | -€10,653 | -0.2% |
| Non-distributable reserves | 130/1 | €175,608 | €175,608 | = | 0.0% |
| Legal reserve | 130 | €175,608 | €175,608 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,025 | €7,025 | = | 0.0% |
| Distributable reserves | 133 | €6,634,576 | €6,623,923 | -€10,653 | -0.2% |
| Profit (loss) carried forward | 14 | €154,454 | €154,454 | = | 0.0% |
| Amounts payable | 17/49 | €2,214,320 | €1,458,043 | -€756,277 | -34.2% |
| Amounts payable within one year | 42/48 | €2,186,254 | €1,455,643 | -€730,611 | -33.4% |
| Financial debts | 43 | €1,850,000 | €800,000 | -€1.1m | -56.8% |
| Credit institutions | 430/8 | €1,850,000 | €800,000 | -€1.1m | -56.8% |
| Trade debts | 44 | €14,127 | €17,025 | +€2,898 | +20.5% |
| Suppliers | 440/4 | €14,127 | €17,025 | +€2,898 | +20.5% |
| Taxes, remuneration and social security | 45 | €27,651 | €138,618 | +€110,966 | +401% |
| Taxes | 450/3 | €27,651 | €138,618 | +€110,966 | +401% |
| Other amounts payable | 47/48 | €294,476 | €500,000 | +€205,524 | +69.8% |
| Accrued charges and deferred income | 492/3 | €28,066 | €2,400 | -€25,665 | -91.4% |
| Non-recurring operating income | 76A | - | €17,000 | +€17,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,152 | €149,474 | -€3,678 | -2.4% |
| Other operating charges | 640/8 | €22,005 | €22,850 | +€845 | +3.8% |
| Gross operating margin | 9900 | -€498 | €10,180 | +€10,678 | |
| Operating profit (loss) | 9901 | -€175,656 | -€162,145 | +€13,511 | +7.7% |
| Financial income | 75/76B | €469,154 | €1,127,990 | +€658,836 | +140% |
| Recurring financial income | 75 | €469,154 | €1,127,990 | +€658,836 | +140% |
| Financial charges | 65/66B | €60,023 | €214,207 | +€154,184 | +257% |
| Recurring financial charges | 65 | €60,023 | €214,207 | +€154,184 | +257% |
| Profit (loss) for the period before taxes | 9903 | €233,475 | €751,638 | +€518,163 | +222% |
| Income taxes | 67/77 | €79,021 | €262,291 | +€183,270 | +232% |
| Profit (loss) for the period | 9904 | €154,454 | €489,347 | +€334,893 | +217% |
| Profit (loss) for the period to be appropriated | 9905 | €154,454 | €489,347 | +€334,893 | +217% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.