Seppe Laenen: what changed
Seppe Laenen
Largest movements
- Receivables after one year -€47,722
down €47,722 (-100%), from €47,722 to €0
- Cash +€37,192
up €37,192 (+69.3%), from €53,696 to €90,887
mainly Net result for the year (+€125,530) and Receivables after one year (+€47,722)
- Receivables within one year +€18,135
up €18,135 (+23.7%), from €76,564 to €94,698
of which Trade receivables: +€61,601
- Tangible fixed assets -€3,450
down €3,450 (-22.4%), from €15,426 to €11,976
of which Plant, machinery and equipment: -€2,438
- Tax, wage and social debts +€10,671
up €10,671 (+26.1%), from €40,931 to €51,602
- Other debts -€5,757
down €5,757 (-4.0%), from €143,473 to €137,716
- Gross operating margin +€61,841
up €61,841 (+57.0%), from €108,588 to €170,429
- Taxes +€12,855
up €12,855 (+47.7%), from €26,929 to €39,784
- Financial income -€2,509
down €2,509 (-77.7%), from €3,231 to €722
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 | €193,407 | €198,069 | +€4,662 | +2.4% |
| Fixed assets | 21/28 | €15,426 | €11,976 | -€3,450 | -22.4% |
| Tangible fixed assets | 22/27 | €15,426 | €11,976 | -€3,450 | -22.4% |
| Plant, machinery and equipment | 23 | €3,584 | €1,146 | -€2,438 | -68.0% |
| Furniture and vehicles | 24 | €11,842 | €10,830 | -€1,012 | -8.5% |
| Current assets | 29/58 | €177,981 | €186,093 | +€8,112 | +4.6% |
| Amounts receivable after more than one year | 29 | €47,722 | €0 | -€47,722 | -100% |
| Other amounts receivable | 291 | €47,722 | €0 | -€47,722 | -100% |
| Amounts receivable within one year | 40/41 | €76,564 | €94,698 | +€18,135 | +23.7% |
| Trade receivables | 40 | €32,893 | €94,495 | +€61,601 | +187% |
| Other amounts receivable | 41 | €43,670 | €204 | -€43,467 | -99.5% |
| Cash at bank and in hand | 54/58 | €53,696 | €90,887 | +€37,192 | +69.3% |
| Deferred charges and accrued income | 490/1 | - | €507 | +€507 | |
| Total equity and liabilities | 10/49 | €193,407 | €198,069 | +€4,662 | +2.4% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €191,407 | €196,069 | +€4,662 | +2.4% |
| Amounts payable within one year | 42/48 | €191,407 | €196,069 | +€4,662 | +2.4% |
| Financial debts | 43 | €57 | €574 | +€516 | +898% |
| Credit institutions | 430/8 | €57 | €574 | +€516 | +898% |
| Trade debts | 44 | €6,946 | €6,177 | -€768 | -11.1% |
| Suppliers | 440/4 | €6,946 | €6,177 | -€768 | -11.1% |
| Taxes, remuneration and social security | 45 | €40,931 | €51,602 | +€10,671 | +26.1% |
| Taxes | 450/3 | €40,931 | €51,602 | +€10,671 | +26.1% |
| Other amounts payable | 47/48 | €143,473 | €137,716 | -€5,757 | -4.0% |
| Non-recurring operating income | 76A | - | €497 | +€497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,992 | €3,136 | +€1,144 | +57.4% |
| Other operating charges | 640/8 | €967 | €1,776 | +€808 | +83.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €108,588 | €170,429 | +€61,841 | +57.0% |
| Operating profit (loss) | 9901 | €105,628 | €165,517 | +€59,888 | +56.7% |
| Financial income | 75/76B | €3,231 | €722 | -€2,509 | -77.7% |
| Recurring financial income | 75 | €3,231 | €722 | -€2,509 | -77.7% |
| Financial charges | 65/66B | €555 | €925 | +€370 | +66.7% |
| Recurring financial charges | 65 | €555 | €925 | +€370 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €108,304 | €165,313 | +€57,009 | +52.6% |
| Income taxes | 67/77 | €26,929 | €39,784 | +€12,855 | +47.7% |
| Profit (loss) for the period | 9904 | €81,375 | €125,530 | +€44,154 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,375 | €125,530 | +€44,154 | +54.3% |
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 6 November 2026 via checked.be.