SENIMAGE: 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.
SENIMAGE
Largest movements
- Cash -€36,260
down €36,260 (-10.6%), from €343,125 to €306,865
mainly Other debts (-€67,670) and Debts after one year (-€42,443)
- Deferred charges and accrued income +€17,517
up €17,517 (+38.0%), from €46,145 to €63,662
- Reserves +€83,044
up €83,044 (+24.0%), from €346,372 to €429,416
of which Distributable reserves: +€83,044
- Other debts -€67,670
down €67,670 (-66.8%), from €101,297 to €33,627
- Debts after one year -€42,443
down €42,443 (-59.2%), from €71,754 to €29,311
- Gross operating margin +€31,332
up €31,332 (+19.0%), from €165,206 to €196,538
- Taxes +€10,105
up €10,105 (+25.3%), from €39,911 to €50,016
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 | €737,500 | €717,400 | -€20,100 | -2.7% |
| Fixed assets | 21/28 | €348,229 | €344,213 | -€4,017 | -1.2% |
| Tangible fixed assets | 22/27 | €344,719 | €340,703 | -€4,017 | -1.2% |
| Land and buildings | 22 | €279,989 | €271,452 | -€8,537 | -3.0% |
| Plant, machinery and equipment | 23 | €49,736 | €40,056 | -€9,680 | -19.5% |
| Furniture and vehicles | 24 | €14,994 | €14,466 | -€527 | -3.5% |
| Other tangible fixed assets | 26 | - | €14,728 | +€14,728 | |
| Financial fixed assets | 28 | €3,510 | €3,510 | = | 0.0% |
| Current assets | 29/58 | €389,271 | €373,187 | -€16,084 | -4.1% |
| Amounts receivable within one year | 40/41 | €0 | €2,660 | +€2,660 | |
| Other amounts receivable | 41 | €0 | €2,660 | +€2,660 | |
| Cash at bank and in hand | 54/58 | €343,125 | €306,865 | -€36,260 | -10.6% |
| Deferred charges and accrued income | 490/1 | €46,145 | €63,662 | +€17,517 | +38.0% |
| Total equity and liabilities | 10/49 | €737,500 | €717,400 | -€20,100 | -2.7% |
| Equity | 10/15 | €507,249 | €590,293 | +€83,044 | +16.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €346,372 | €429,416 | +€83,044 | +24.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €344,512 | €427,556 | +€83,044 | +24.1% |
| Profit (loss) carried forward | 14 | €148,477 | €148,477 | = | 0.0% |
| Amounts payable | 17/49 | €230,251 | €127,107 | -€103,144 | -44.8% |
| Amounts payable after more than one year | 17 | €71,754 | €29,311 | -€42,443 | -59.2% |
| Financial debts | 170/4 | €71,754 | €29,311 | -€42,443 | -59.2% |
| Amounts payable within one year | 42/48 | €156,697 | €95,996 | -€60,701 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €40,879 | €42,443 | +€1,563 | +3.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €14,521 | €19,927 | +€5,406 | +37.2% |
| Taxes | 450/3 | €14,521 | €19,927 | +€5,406 | +37.2% |
| Other amounts payable | 47/48 | €101,297 | €33,627 | -€67,670 | -66.8% |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,257 | €25,056 | +€800 | +3.3% |
| Other operating charges | 640/8 | €2,309 | €2,461 | +€152 | +6.6% |
| Gross operating margin | 9900 | €165,206 | €196,538 | +€31,332 | +19.0% |
| Operating profit (loss) | 9901 | €138,641 | €169,021 | +€30,380 | +21.9% |
| Financial income | 75/76B | €32 | €0 | -€32 | -100% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100% |
| Financial charges | 65/66B | €2,870 | €2,334 | -€535 | -18.7% |
| Recurring financial charges | 65 | €2,870 | €2,334 | -€535 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €135,803 | €166,686 | +€30,883 | +22.7% |
| Income taxes | 67/77 | €39,911 | €50,016 | +€10,105 | +25.3% |
| Profit (loss) for the period | 9904 | €95,892 | €116,671 | +€20,778 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €95,892 | €116,671 | +€20,778 | +21.7% |
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 14 October 2026 via checked.be.