Senex & Partners: 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.
Senex & Partners
Largest movements
- Receivables within one year -€185,301
down €185,301 (-48.0%), from €385,694 to €200,393
of which Trade receivables: -€198,174
- Stocks and contracts -€52,690
down €52,690 (-16.7%), from €316,116 to €263,426
- Intangible fixed assets -€41,531
down €41,531 (-57.2%), from €72,593 to €31,063
- Deferred charges and accrued income -€30,778
down €30,778 (-68.9%), from €44,700 to €13,922
- Trade debts -€179,979
down €179,979 (-48.9%), from €367,812 to €187,834
- Debts after one year -€73,074
down €73,074 (-59.6%), from €122,636 to €49,562
- Other debts -€36,824
down €36,824 (-87.0%), from €42,304 to €5,480
- Reserves -€29,120
down €29,120 (-12.8%), from €228,138 to €199,018
- Short-term financial debts +€19,992
up €19,992 (+592%), from €3,378 to €23,370
- Gross operating margin -€62,352
down €62,352 (-31.4%), from €198,760 to €136,408
- Staff costs -€5,601
down €5,601 (-6.3%), from €88,799 to €83,199
- Financial charges +€5,516
up €5,516 (+47.2%), from €11,694 to €17,210
- Depreciation +€3,409
up €3,409 (+6.1%), from €55,878 to €59,287
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 | €909,065 | €590,913 | -€318,153 | -35.0% |
| Fixed assets | 21/28 | €122,631 | €74,611 | -€48,020 | -39.2% |
| Intangible fixed assets | 21 | €72,593 | €31,063 | -€41,531 | -57.2% |
| Tangible fixed assets | 22/27 | €47,113 | €40,624 | -€6,489 | -13.8% |
| Land and buildings | 22 | €6,429 | €776 | -€5,652 | -87.9% |
| Plant, machinery and equipment | 23 | €10,154 | €11,641 | +€1,488 | +14.7% |
| Furniture and vehicles | 24 | €30,530 | €28,206 | -€2,324 | -7.6% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €786,434 | €516,301 | -€270,133 | -34.3% |
| Stocks and contracts in progress | 3 | €316,116 | €263,426 | -€52,690 | -16.7% |
| Stocks | 30/36 | €316,116 | €263,426 | -€52,690 | -16.7% |
| Amounts receivable within one year | 40/41 | €385,694 | €200,393 | -€185,301 | -48.0% |
| Trade receivables | 40 | €377,972 | €179,798 | -€198,174 | -52.4% |
| Other amounts receivable | 41 | €7,722 | €20,595 | +€12,873 | +167% |
| Cash at bank and in hand | 54/58 | €39,924 | €38,559 | -€1,364 | -3.4% |
| Deferred charges and accrued income | 490/1 | €44,700 | €13,922 | -€30,778 | -68.9% |
| Total equity and liabilities | 10/49 | €909,065 | €590,913 | -€318,153 | -35.0% |
| Equity | 10/15 | €246,738 | €217,618 | -€29,120 | -11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €228,138 | €199,018 | -€29,120 | -12.8% |
| Distributable reserves | 133 | €228,138 | €199,018 | -€29,120 | -12.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €662,327 | €373,294 | -€289,032 | -43.6% |
| Amounts payable after more than one year | 17 | €122,636 | €49,562 | -€73,074 | -59.6% |
| Financial debts | 170/4 | €122,636 | €49,562 | -€73,074 | -59.6% |
| Amounts payable within one year | 42/48 | €536,243 | €317,818 | -€218,425 | -40.7% |
| Current portion of amounts payable after more than one year | 42 | €77,309 | €73,074 | -€4,235 | -5.5% |
| Financial debts | 43 | €3,378 | €23,370 | +€19,992 | +592% |
| Credit institutions | 430/8 | €3,378 | €23,370 | +€19,992 | +592% |
| Trade debts | 44 | €367,812 | €187,834 | -€179,979 | -48.9% |
| Suppliers | 440/4 | €367,812 | €187,834 | -€179,979 | -48.9% |
| Taxes, remuneration and social security | 45 | €45,440 | €28,061 | -€17,379 | -38.2% |
| Taxes | 450/3 | €44,161 | €25,478 | -€18,683 | -42.3% |
| Remuneration and social security | 454/9 | €1,279 | €2,583 | +€1,304 | +102% |
| Other amounts payable | 47/48 | €42,304 | €5,480 | -€36,824 | -87.0% |
| Accrued charges and deferred income | 492/3 | €3,448 | €5,914 | +€2,466 | +71.5% |
| Remuneration, social security and pensions | 62 | €88,799 | €83,199 | -€5,601 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,878 | €59,287 | +€3,409 | +6.1% |
| Other operating charges | 640/8 | €1,837 | €1,459 | -€377 | -20.5% |
| Gross operating margin | 9900 | €198,760 | €136,408 | -€62,352 | -31.4% |
| Operating profit (loss) | 9901 | €52,246 | -€7,537 | -€59,783 | |
| Financial income | 75/76B | €291 | €135 | -€155 | -53.4% |
| Recurring financial income | 75 | €291 | €135 | -€155 | -53.4% |
| Financial charges | 65/66B | €11,694 | €17,210 | +€5,516 | +47.2% |
| Recurring financial charges | 65 | €11,694 | €17,210 | +€5,516 | +47.2% |
| Profit (loss) for the period before taxes | 9903 | €40,843 | -€24,612 | -€65,454 | |
| Income taxes | 67/77 | €2,974 | €4,508 | +€1,534 | +51.6% |
| Profit (loss) for the period | 9904 | €37,869 | -€29,120 | -€66,989 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,869 | -€29,120 | -€66,989 |
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 16 October 2026 via checked.be.