SENOR: 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.
SENOR
Largest movements
- Cash -€128,488
down €128,488 (-71.5%), from €179,592 to €51,104
mainly Investment in fixed assets (net) (-€112,954) and Current investments (-€99,165)
- Current investments +€99,165
up €99,165 (+25.0%), from €396,753 to €495,918
- Tangible fixed assets +€44,256
up €44,256 (+16.5%), from €268,092 to €312,348
of which Other tangible fixed assets: +€66,533
- Receivables within one year -€13,551
down €13,551 (-18.6%), from €72,927 to €59,377
of which Trade receivables: -€11,008
- Debts after one year -€74,837
down €74,837 (-41.7%), from €179,256 to €104,419
of which Other amounts payable: -€50,941
- Reserves +€55,970
up €55,970 (+9.8%), from €573,921 to €629,892
- Trade debts +€18,374
up €18,374 (+652%), from €2,818 to €21,192
- Other debts +€13,429
new in 2025: €13,429
- Gross operating margin +€23,725
up €23,725 (+17.0%), from €139,234 to €162,960
- Depreciation +€6,914
up €6,914 (+11.0%), from €63,023 to €69,937
- Taxes +€6,429
up €6,429 (+35.8%), from €17,956 to €24,385
- Financial income +€4,882
up €4,882 (+274%), from €1,783 to €6,665
- Other operating charges -€3,336
down €3,336 (-28.0%), from €11,926 to €8,591
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 | €933,385 | €939,016 | +€5,631 | +0.6% |
| Fixed assets | 21/28 | €270,692 | €313,708 | +€43,016 | +15.9% |
| Intangible fixed assets | 21 | €2,535 | €1,360 | -€1,175 | -46.3% |
| Tangible fixed assets | 22/27 | €268,092 | €312,348 | +€44,256 | +16.5% |
| Plant, machinery and equipment | 23 | €358 | €7,271 | +€6,914 | +1,934% |
| Furniture and vehicles | 24 | €26,480 | €45,371 | +€18,891 | +71.3% |
| Leasing and similar rights | 25 | €241,254 | €193,173 | -€48,082 | -19.9% |
| Other tangible fixed assets | 26 | - | €66,533 | +€66,533 | |
| Financial fixed assets | 28 | €65 | - | -€65 | |
| Current assets | 29/58 | €662,693 | €625,308 | -€37,385 | -5.6% |
| Stocks and contracts in progress | 3 | €7,875 | €9,888 | +€2,013 | +25.6% |
| Stocks | 30/36 | €7,875 | €9,888 | +€2,013 | +25.6% |
| Amounts receivable within one year | 40/41 | €72,927 | €59,377 | -€13,551 | -18.6% |
| Trade receivables | 40 | €50,112 | €39,104 | -€11,008 | -22.0% |
| Other amounts receivable | 41 | €22,815 | €20,273 | -€2,542 | -11.1% |
| Current investments | 50/53 | €396,753 | €495,918 | +€99,165 | +25.0% |
| Cash at bank and in hand | 54/58 | €179,592 | €51,104 | -€128,488 | -71.5% |
| Deferred charges and accrued income | 490/1 | €5,546 | €9,021 | +€3,475 | +62.7% |
| Total equity and liabilities | 10/49 | €933,385 | €939,016 | +€5,631 | +0.6% |
| Equity | 10/15 | €707,121 | €763,092 | +€55,970 | +7.9% |
| Contributions | 10/11 | €133,200 | €133,200 | = | 0.0% |
| Reserves | 13 | €573,921 | €629,892 | +€55,970 | +9.8% |
| Distributable reserves | 133 | €573,921 | €629,892 | +€55,970 | +9.8% |
| Amounts payable | 17/49 | €226,263 | €175,924 | -€50,340 | -22.2% |
| Amounts payable after more than one year | 17 | €179,256 | €104,419 | -€74,837 | -41.7% |
| Financial debts | 170/4 | €41,951 | €18,055 | -€23,896 | -57.0% |
| Other amounts payable | 178/9 | €137,305 | €86,364 | -€50,941 | -37.1% |
| Amounts payable within one year | 42/48 | €40,165 | €65,290 | +€25,125 | +62.6% |
| Current portion of amounts payable after more than one year | 42 | €24,503 | €23,896 | -€607 | -2.5% |
| Trade debts | 44 | €2,818 | €21,192 | +€18,374 | +652% |
| Suppliers | 440/4 | €2,818 | €21,192 | +€18,374 | +652% |
| Taxes, remuneration and social security | 45 | €12,844 | €6,772 | -€6,072 | -47.3% |
| Taxes | 450/3 | €9,844 | €5,537 | -€4,307 | -43.8% |
| Remuneration and social security | 454/9 | €3,000 | €1,235 | -€1,765 | -58.8% |
| Other amounts payable | 47/48 | - | €13,429 | +€13,429 | |
| Accrued charges and deferred income | 492/3 | €6,842 | €6,215 | -€627 | -9.2% |
| Non-recurring operating income | 76A | €6,447 | - | -€6,447 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,023 | €69,937 | +€6,914 | +11.0% |
| Other operating charges | 640/8 | €11,926 | €8,591 | -€3,336 | -28.0% |
| Gross operating margin | 9900 | €139,234 | €162,960 | +€23,725 | +17.0% |
| Operating profit (loss) | 9901 | €64,285 | €84,432 | +€20,147 | +31.3% |
| Financial income | 75/76B | €1,783 | €6,665 | +€4,882 | +274% |
| Recurring financial income | 75 | €1,783 | €6,665 | +€4,882 | +274% |
| Financial charges | 65/66B | €10,426 | €9,075 | -€1,352 | -13.0% |
| Recurring financial charges | 65 | €10,426 | €9,075 | -€1,352 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €55,641 | €82,022 | +€26,380 | +47.4% |
| Income taxes | 67/77 | €17,956 | €24,385 | +€6,429 | +35.8% |
| Profit (loss) for the period | 9904 | €37,685 | €57,636 | +€19,951 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,685 | €57,636 | +€19,951 | +52.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.