SENG: what changed
SENG
Largest movements
- Cash -€49,004
down €49,004 (-50.1%), from €97,751 to €48,747
mainly Other debts (-€45,557) and Contributions, distributions and other (-€20,000)
- Financial fixed assets -€43,200
down €43,200 (-9.3%), from €464,975 to €421,775
- Receivables within one year +€16,655
up €16,655 (+17.4%), from €95,523 to €112,178
of which Trade receivables: +€20,328
- Other debts -€45,557
down €45,557 (-32.9%), from €138,268 to €92,712
- Reserves -€38,924
down €38,924 (-7.7%), from €508,356 to €469,431
- Profit (loss) carried forward +€9,109
no longer reported in 2025 (was -€9,109)
- Gross operating margin -€5,602
down €5,602 (-337%), from -€1,660 to -€7,262
- Taxes -€726
down €726 (-39.3%), from €1,847 to €1,121
- Depreciation +€312
up €312 (+69.6%), from €448 to €759
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €659,119 | €585,155 | -€73,964 | -11.2% |
| Fixed assets | 21/28 | €465,846 | €424,231 | -€41,615 | -8.9% |
| Tangible fixed assets | 22/27 | €871 | €2,456 | +€1,585 | +182% |
| Plant, machinery and equipment | 23 | €871 | €423 | -€448 | -51.4% |
| Furniture and vehicles | 24 | - | €2,033 | +€2,033 | |
| Financial fixed assets | 28 | €464,975 | €421,775 | -€43,200 | -9.3% |
| Current assets | 29/58 | €193,273 | €160,924 | -€32,349 | -16.7% |
| Amounts receivable within one year | 40/41 | €95,523 | €112,178 | +€16,655 | +17.4% |
| Trade receivables | 40 | €91,846 | €112,174 | +€20,328 | +22.1% |
| Other amounts receivable | 41 | €3,677 | €4 | -€3,673 | -99.9% |
| Cash at bank and in hand | 54/58 | €97,751 | €48,747 | -€49,004 | -50.1% |
| Total equity and liabilities | 10/49 | €659,119 | €585,155 | -€73,964 | -11.2% |
| Equity | 10/15 | €517,846 | €488,031 | -€29,815 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €508,356 | €469,431 | -€38,924 | -7.7% |
| Distributable reserves | 133 | €508,356 | €469,431 | -€38,924 | -7.7% |
| Profit (loss) carried forward | 14 | -€9,109 | - | +€9,109 | |
| Amounts payable | 17/49 | €141,273 | €97,124 | -€44,149 | -31.3% |
| Amounts payable within one year | 42/48 | €141,273 | €97,124 | -€44,149 | -31.3% |
| Financial debts | 43 | - | €925 | +€925 | |
| Credit institutions | 430/8 | - | €925 | +€925 | |
| Trade debts | 44 | €1,080 | €1,569 | +€488 | +45.2% |
| Suppliers | 440/4 | €1,080 | €1,569 | +€488 | +45.2% |
| Taxes, remuneration and social security | 45 | €1,924 | €1,918 | -€6 | -0.3% |
| Taxes | 450/3 | €1,924 | €1,918 | -€6 | -0.3% |
| Other amounts payable | 47/48 | €138,268 | €92,712 | -€45,557 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €448 | €759 | +€312 | +69.6% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€1,660 | -€7,262 | -€5,602 | -337% |
| Operating profit (loss) | 9901 | -€2,621 | -€8,549 | -€5,928 | -226% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €153 | €145 | -€8 | -5.0% |
| Recurring financial charges | 65 | €153 | €145 | -€8 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,753 | -€8,694 | -€5,942 | -216% |
| Income taxes | 67/77 | €1,847 | €1,121 | -€726 | -39.3% |
| Profit (loss) for the period | 9904 | -€4,599 | -€9,815 | -€5,216 | -113% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,599 | -€9,815 | -€5,216 | -113% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.