SENEQ: 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.
What changed
SENEQ
NACE 82.100, Office administrative and support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€18.6m
2024 · €26.3m-€7.8m
Equity
€189.8m
2024 · €191.3m-€1.4m
Cash
€1.8m
2024 · €8.3m-€6.5m
Balance sheet total
€227.8m
2024 · €209.3m+€18.5m
Largest movements
Assets
- Current investments +€19.5m
up €19.5m (+12.9%), from €151.2m to €170.7m
- Cash -€6.5m
down €6.5m (-78.3%), from €8.3m to €1.8m
mainly Contributions, distributions and other (-€20.0m) and Current investments (-€19.5m)
- Receivables within one year +€4.8m
up €4.8m (+11477.9%), from €42,030 to €4.9m
of which Other amounts receivable: +€4.8m
Equity and liabilities
- Other debts +€20.1m
new in 2025: €20.1m
- Debts after one year -€15.0m
no longer reported in 2025 (was €15.0m)
- Current portion of long-term debt +€15.0m
new in 2025: €15.0m
Income statement
- Financial charges +€10.6m
up €10.6m (+3124.0%), from €338,646 to €10.9m
- Taxes -€5.2m
down €5.2m (-91.6%), from €5.7m to €478,700
- Financial income -€2.5m
down €2.5m (-7.4%), from €34.4m to €31.9m
- Services and other goods -€202,561
down €202,561 (-16.0%), from €1.3m to €1.1m
- Other operating charges +€38,973
up €38,973 (+20.4%), from €191,333 to €230,306
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.
Result 2024
€26.3m
Turnover
+€14,000
Other operating income
-€875
Services and other goods
+€202,561
Staff costs
-€19,235
Depreciation
-€1,992
Other operating charges
-€38,973
Financial income
-€2.5m
Financial charges
-€10.6m
Taxes
+€5.2m
Result 2025
€18.6m
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.
From operations
+€34.3m
Investment
-€20.7m
Financing
-€20.0m
Cash 2024
€8.3m
From operations (derived)
+€34.3m
Net result for the year
+€18.6m
Depreciation
+€95,377
Smaller working-capital items
+€11,456
Receivables within one year
-€4.8m
Deferred charges and accrued income
+€468,228
Other debts
+€20.1m
Accrued charges and deferred income
-€147,800
Investment (derived)
-€20.7m
Investment in fixed assets (net)
-€1.3m
Current investments
-€19.5m
Financing
-€20.0m
Debts after one year
-€15.0m
Current portion of long-term debt
+€15.0m
Short-term financial debts
-€519
Contributions, distributions and other
-€20.0m
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,266,208 | €227,781,732 | +€18.5m | +8.8% |
| Fixed assets | 21/28 | €48,585,956 | €49,749,878 | +€1.2m | +2.4% |
| Intangible fixed assets | 21 | €54,259 | €27,130 | -€27,130 | -50.0% |
| Tangible fixed assets | 22/27 | €1,216,797 | €1,163,228 | -€53,569 | -4.4% |
| Land and buildings | 22 | €1,146,358 | €1,112,163 | -€34,195 | -3.0% |
| Plant, machinery and equipment | 23 | €5,502 | €5,703 | +€201 | +3.6% |
| Furniture and vehicles | 24 | €64,937 | €45,362 | -€19,575 | -30.1% |
| Financial fixed assets | 28 | €47,314,900 | €48,559,521 | +€1.2m | +2.6% |
| Companies linked by participating interests | 282/3 | €2,270,100 | €2,270,100 | = | 0.0% |
| Participating interests | 282 | €2,270,100 | €2,270,100 | = | 0.0% |
| Other financial fixed assets | 284/8 | €45,044,800 | €46,289,421 | +€1.2m | +2.8% |
| Shares | 284 | €45,044,178 | €46,288,799 | +€1.2m | +2.8% |
| Amounts receivable and cash guarantees | 285/8 | €622 | €622 | = | 0.0% |
| Current assets | 29/58 | €160,680,252 | €178,031,854 | +€17.4m | +10.8% |
| Amounts receivable after more than one year | 29 | €29,973 | €30,026 | +€54 | +0.2% |
| Other amounts receivable | 291 | €29,973 | €30,026 | +€54 | +0.2% |
| Amounts receivable within one year | 40/41 | €42,030 | €4,866,202 | +€4.8m | +11477.9% |
| Trade receivables | 40 | €290 | €874 | +€584 | +201.5% |
| Other amounts receivable | 41 | €41,740 | €4,865,328 | +€4.8m | +11556.3% |
| Current investments | 50/53 | €151,231,743 | €170,715,235 | +€19.5m | +12.9% |
| Other investments | 51/53 | €151,231,743 | €170,715,235 | +€19.5m | +12.9% |
| Cash at bank and in hand | 54/58 | €8,285,792 | €1,797,903 | -€6.5m | -78.3% |
| Deferred charges and accrued income | 490/1 | €1,090,714 | €622,487 | -€468,228 | -42.9% |
| Total equity and liabilities | 10/49 | €209,266,208 | €227,781,732 | +€18.5m | +8.8% |
| Equity | 10/15 | €191,293,785 | €189,849,252 | -€1.4m | -0.8% |
| Contributions | 10/11 | €11,747,000 | €11,747,000 | = | 0.0% |
| Reserves | 13 | €1,175,200 | €1,175,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,175,200 | €1,175,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,175,200 | €1,175,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,371,585 | €176,927,052 | -€1.4m | -0.8% |
| Amounts payable | 17/49 | €17,972,423 | €37,932,479 | +€20.0m | +111.1% |
| Amounts payable after more than one year | 17 | €15,000,000 | - | -€15.0m | |
| Financial debts | 170/4 | €15,000,000 | - | -€15.0m | |
| Credit institutions | 173 | €15,000,000 | - | -€15.0m | |
| Amounts payable within one year | 42/48 | €2,672,815 | €37,780,672 | +€35.1m | +1313.5% |
| Current portion of amounts payable after more than one year | 42 | - | €15,000,000 | +€15.0m | |
| Financial debts | 43 | €519 | - | -€519 | |
| Credit institutions | 430/8 | €519 | - | -€519 | |
| Trade debts | 44 | €26,859 | €16,280 | -€10,579 | -39.4% |
| Suppliers | 440/4 | €26,859 | €16,280 | -€10,579 | -39.4% |
| Taxes, remuneration and social security | 45 | €2,645,437 | €2,667,526 | +€22,089 | +0.8% |
| Taxes | 450/3 | €2,553,293 | €2,572,731 | +€19,438 | +0.8% |
| Remuneration and social security | 454/9 | €92,144 | €94,795 | +€2,651 | +2.9% |
| Other amounts payable | 47/48 | - | €20,096,865 | +€20.1m | |
| Accrued charges and deferred income | 492/3 | €299,608 | €151,808 | -€147,800 | -49.3% |
| Operating income | 70/76A | €109,350 | €122,476 | +€13,125 | +12.0% |
| Turnover | 70 | €104,000 | €118,000 | +€14,000 | +13.5% |
| Other operating income | 74 | €5,350 | €4,476 | -€875 | -16.3% |
| Operating charges | 60/66A | €2,166,473 | €2,024,112 | -€142,361 | -6.6% |
| Services and other goods | 61 | €1,267,251 | €1,064,690 | -€202,561 | -16.0% |
| Remuneration, social security and pensions | 62 | €614,504 | €633,739 | +€19,235 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,384 | €95,377 | +€1,992 | +2.1% |
| Other operating charges | 640/8 | €191,333 | €230,306 | +€38,973 | +20.4% |
| Operating profit (loss) | 9901 | -€2,057,123 | -€1,901,636 | +€155,487 | +7.6% |
| Financial income | 75/76B | €34,387,743 | €31,853,751 | -€2.5m | -7.4% |
| Recurring financial income | 75 | €34,387,743 | €31,853,751 | -€2.5m | -7.4% |
| Income from financial fixed assets | 750 | €10,082,124 | €18,057,813 | +€8.0m | +79.1% |
| Income from current assets | 751 | €9,765,407 | €6,449,143 | -€3.3m | -34.0% |
| Other financial income | 752/9 | €14,540,212 | €7,346,796 | -€7.2m | -49.5% |
| Financial charges | 65/66B | €338,646 | €10,917,948 | +€10.6m | +3124.0% |
| Recurring financial charges | 65 | €338,646 | €10,917,948 | +€10.6m | +3124.0% |
| Debt charges | 650 | €98,493 | €99,396 | +€903 | +0.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €236,157 | €59,732 | -€176,425 | -74.7% |
| Other financial charges | 652/9 | €3,996 | €10,758,820 | +€10.8m | +269112.1% |
| Profit (loss) for the period before taxes | 9903 | €31,991,973 | €19,034,167 | -€13.0m | -40.5% |
| Income taxes | 67/77 | €5,676,676 | €478,700 | -€5.2m | -91.6% |
| Taxes | 670/3 | €5,676,676 | €478,700 | -€5.2m | -91.6% |
| Profit (loss) for the period | 9904 | €26,315,297 | €18,555,467 | -€7.8m | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,315,297 | €18,555,467 | -€7.8m | -29.5% |
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 4 October 2026 via checked.be.