SENKO: 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.
SENKO
Largest movements
- Stocks and contracts -€415,890
down €415,890 (-39.3%), from €1.1m to €642,417
- Receivables within one year +€72,412
up €72,412 (+21,616%), from €335 to €72,747
of which Trade receivables: +€72,257
- Cash -€15,542
down €15,542 (-52.9%), from €29,376 to €13,834
mainly Advances received (-€312,366) and Trade debts (-€268,875)
- Advances received -€312,366
no longer reported in 2025 (was €312,366)
- Trade debts -€268,875
down €268,875 (-43.7%), from €615,189 to €346,314
- Profit (loss) carried forward +€112,986
up €112,986 (+120%), from €94,213 to €207,200
- Accrued charges and deferred income +€54,212
new in 2025: €54,212
- Tax, wage and social debts +€40,070
up €40,070 (+126%), from €31,797 to €71,867
of which Taxes: +€38,611
- Gross operating margin +€56,258
up €56,258 (+32.5%), from €173,243 to €229,501
- Taxes +€34,462
up €34,462 (+610%), from €5,650 to €40,112
- Staff costs -€10,262
down €10,262 (-13.4%), from €76,850 to €66,588
- Other operating charges -€4,423
down €4,423 (-47.0%), from €9,413 to €4,990
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 | €1,128,385 | €767,274 | -€361,111 | -32.0% |
| Fixed assets | 21/28 | €37,736 | €35,729 | -€2,006 | -5.3% |
| Tangible fixed assets | 22/27 | €15,736 | €13,729 | -€2,006 | -12.7% |
| Plant, machinery and equipment | 23 | €5,222 | €5,512 | +€289 | +5.5% |
| Furniture and vehicles | 24 | €6,511 | €4,794 | -€1,716 | -26.4% |
| Other tangible fixed assets | 26 | €4,002 | €3,423 | -€579 | -14.5% |
| Financial fixed assets | 28 | €22,000 | €22,000 | = | 0.0% |
| Current assets | 29/58 | €1,090,649 | €731,545 | -€359,105 | -32.9% |
| Stocks and contracts in progress | 3 | €1,058,307 | €642,417 | -€415,890 | -39.3% |
| Stocks | 30/36 | €1,058,307 | €642,417 | -€415,890 | -39.3% |
| Amounts receivable within one year | 40/41 | €335 | €72,747 | +€72,412 | +21,616% |
| Trade receivables | 40 | - | €72,257 | +€72,257 | |
| Other amounts receivable | 41 | €335 | €490 | +€155 | +46.3% |
| Cash at bank and in hand | 54/58 | €29,376 | €13,834 | -€15,542 | -52.9% |
| Deferred charges and accrued income | 490/1 | €2,631 | €2,546 | -€85 | -3.2% |
| Total equity and liabilities | 10/49 | €1,128,385 | €767,274 | -€361,111 | -32.0% |
| Equity | 10/15 | €124,213 | €237,200 | +€112,986 | +91.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,213 | €207,200 | +€112,986 | +120% |
| Amounts payable | 17/49 | €1,004,172 | €530,075 | -€474,097 | -47.2% |
| Amounts payable within one year | 42/48 | €1,004,172 | €475,862 | -€528,309 | -52.6% |
| Trade debts | 44 | €615,189 | €346,314 | -€268,875 | -43.7% |
| Suppliers | 440/4 | €615,189 | €346,314 | -€268,875 | -43.7% |
| Advances received on contracts in progress | 46 | €312,366 | - | -€312,366 | |
| Taxes, remuneration and social security | 45 | €31,797 | €71,867 | +€40,070 | +126% |
| Taxes | 450/3 | €17,653 | €56,264 | +€38,611 | +219% |
| Remuneration and social security | 454/9 | €14,144 | €15,603 | +€1,459 | +10.3% |
| Other amounts payable | 47/48 | €44,820 | €57,681 | +€12,861 | +28.7% |
| Accrued charges and deferred income | 492/3 | - | €54,212 | +€54,212 | |
| Remuneration, social security and pensions | 62 | €76,850 | €66,588 | -€10,262 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,214 | €3,293 | +€79 | +2.5% |
| Other operating charges | 640/8 | €9,413 | €4,990 | -€4,423 | -47.0% |
| Gross operating margin | 9900 | €173,243 | €229,501 | +€56,258 | +32.5% |
| Operating profit (loss) | 9901 | €83,766 | €154,630 | +€70,864 | +84.6% |
| Financial income | 75/76B | €5 | €962 | +€957 | +17,721% |
| Recurring financial income | 75 | €5 | €962 | +€957 | +17,721% |
| Financial charges | 65/66B | €1,731 | €2,494 | +€763 | +44.1% |
| Recurring financial charges | 65 | €1,731 | €2,494 | +€763 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €82,040 | €153,098 | +€71,058 | +86.6% |
| Income taxes | 67/77 | €5,650 | €40,112 | +€34,462 | +610% |
| Profit (loss) for the period | 9904 | €76,390 | €112,986 | +€36,596 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,390 | €112,986 | +€36,596 | +47.9% |
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 13 October 2026 via checked.be.