SENZ: 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.
SENZ
Largest movements
- Stocks and contracts -€51,083
down €51,083 (-29.0%), from €176,093 to €125,011
- Receivables within one year +€16,776
up €16,776 (+116.8%), from €14,366 to €31,142
of which Trade receivables: +€11,804
- Tangible fixed assets -€13,586
down €13,586 (-29.0%), from €46,822 to €33,236
- Cash +€4,267
up €4,267 (+10.4%), from €40,894 to €45,161
mainly Stocks and contracts (+€51,083) and Depreciation (+€17,647)
- Intangible fixed assets -€3,310
down €3,310 (-77.7%), from €4,258 to €948
- Debts after one year -€19,873
down €19,873 (-47.7%), from €41,707 to €21,833
- Short-term financial debts -€14,000
down €14,000 (-100.0%), from €14,000 to €0
of which Other loans: -€14,000
- Profit (loss) carried forward -€9,883
down €9,883 (-489.3%), from -€2,020 to -€11,903
- Trade debts +€7,256
up €7,256 (+79.7%), from €9,106 to €16,362
- Tax, wage and social debts -€6,438
down €6,438 (-15.7%), from €40,966 to €34,528
of which Remuneration and social security: -€3,516
- Staff costs -€12,866
down €12,866 (-9.6%), from €133,581 to €120,715
- Other operating charges -€3,200
down €3,200 (-72.1%), from €4,436 to €1,236
- Gross operating margin -€2,415
down €2,415 (-1.6%), from €155,325 to €152,910
- Financial charges -€1,852
down €1,852 (-22.5%), from €8,236 to €6,384
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.
Cash bridge derived
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 | €306,066 | €258,780 | -€47,286 | -15.4% |
| Fixed assets | 21/28 | €51,130 | €34,234 | -€16,896 | -33.0% |
| Intangible fixed assets | 21 | €4,258 | €948 | -€3,310 | -77.7% |
| Tangible fixed assets | 22/27 | €46,822 | €33,236 | -€13,586 | -29.0% |
| Plant, machinery and equipment | 23 | €2,380 | €1,199 | -€1,181 | -49.6% |
| Furniture and vehicles | 24 | €11,238 | €4,456 | -€6,782 | -60.3% |
| Other tangible fixed assets | 26 | €33,205 | €27,581 | -€5,623 | -16.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €254,936 | €224,546 | -€30,390 | -11.9% |
| Stocks and contracts in progress | 3 | €176,093 | €125,011 | -€51,083 | -29.0% |
| Stocks | 30/36 | €176,093 | €125,011 | -€51,083 | -29.0% |
| Amounts receivable within one year | 40/41 | €14,366 | €31,142 | +€16,776 | +116.8% |
| Trade receivables | 40 | €12,949 | €24,753 | +€11,804 | +91.2% |
| Other amounts receivable | 41 | €1,417 | €6,389 | +€4,972 | +350.8% |
| Current investments | 50/53 | €19,843 | €19,843 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,894 | €45,161 | +€4,267 | +10.4% |
| Deferred charges and accrued income | 490/1 | €3,739 | €3,389 | -€350 | -9.4% |
| Total equity and liabilities | 10/49 | €306,066 | €258,780 | -€47,286 | -15.4% |
| Equity | 10/15 | €160,823 | €150,940 | -€9,883 | -6.1% |
| Contributions | 10/11 | €143,000 | €143,000 | = | 0.0% |
| Reserves | 13 | €19,843 | €19,843 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,843 | €19,843 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,843 | €19,843 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,020 | -€11,903 | -€9,883 | -489.3% |
| Amounts payable | 17/49 | €145,242 | €107,839 | -€37,403 | -25.8% |
| Amounts payable after more than one year | 17 | €41,707 | €21,833 | -€19,873 | -47.7% |
| Financial debts | 170/4 | €41,707 | €21,833 | -€19,873 | -47.7% |
| Amounts payable within one year | 42/48 | €100,411 | €83,274 | -€17,138 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €25,693 | €19,873 | -€5,820 | -22.7% |
| Financial debts | 43 | €14,000 | €0 | -€14,000 | -100.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €14,000 | €0 | -€14,000 | -100.0% |
| Trade debts | 44 | €9,106 | €16,362 | +€7,256 | +79.7% |
| Suppliers | 440/4 | €9,106 | €16,362 | +€7,256 | +79.7% |
| Advances received on contracts in progress | 46 | €10,496 | €12,510 | +€2,015 | +19.2% |
| Taxes, remuneration and social security | 45 | €40,966 | €34,528 | -€6,438 | -15.7% |
| Taxes | 450/3 | €26,659 | €23,738 | -€2,922 | -11.0% |
| Remuneration and social security | 454/9 | €14,307 | €10,790 | -€3,516 | -24.6% |
| Other amounts payable | 47/48 | €150 | €0 | -€150 | -100.0% |
| Accrued charges and deferred income | 492/3 | €3,125 | €2,732 | -€392 | -12.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €133,581 | €120,715 | -€12,866 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,693 | €17,647 | -€45 | -0.3% |
| Other operating charges | 640/8 | €4,436 | €1,236 | -€3,200 | -72.1% |
| Non-recurring operating charges | 66A | €0 | €16,965 | +€16,965 | |
| Gross operating margin | 9900 | €155,325 | €152,910 | -€2,415 | -1.6% |
| Operating profit (loss) | 9901 | -€385 | -€3,654 | -€3,269 | -849.3% |
| Financial income | 75/76B | €20 | €158 | +€138 | +707.6% |
| Recurring financial income | 75 | €20 | €158 | +€138 | +707.6% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €8,236 | €6,384 | -€1,852 | -22.5% |
| Recurring financial charges | 65 | €8,236 | €6,384 | -€1,852 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,602 | -€9,881 | -€1,279 | -14.9% |
| Income taxes | 67/77 | €117 | €2 | -€114 | -97.9% |
| Profit (loss) for the period | 9904 | -€8,719 | -€9,883 | -€1,164 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,719 | -€9,883 | -€1,164 | -13.4% |
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 9 October 2026 via checked.be.