Seppe Steenackers: 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.
Seppe Steenackers
Largest movements
- Cash -€54,010
down €54,010 (-79.6%), from €67,820 to €13,810
mainly Contributions, distributions and other (-€150,628) and Receivables within one year (-€9,150)
- Tangible fixed assets -€11,008
down €11,008 (-21.5%), from €51,268 to €40,260
of which Furniture and vehicles: -€10,500
- Receivables within one year +€9,150
up €9,150 (+31.5%), from €29,036 to €38,186
- Reserves -€109,361
down €109,361 (-100%), from €109,361 to €0
- Other debts +€59,453
up €59,453 (+655%), from €9,077 to €68,531
- Debts after one year -€7,559
down €7,559 (-56.4%), from €13,394 to €5,835
- Accrued charges and deferred income +€1,811
up €1,811 (+35.1%), from €5,162 to €6,973
- Gross operating margin -€21,283
down €21,283 (-24.5%), from €86,730 to €65,447
- Depreciation +€7,575
up €7,575 (+221%), from €3,433 to €11,008
- Taxes -€5,707
down €5,707 (-34.3%), from €16,653 to €10,946
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 | €149,182 | €93,295 | -€55,888 | -37.5% |
| Fixed assets | 21/28 | €51,268 | €40,260 | -€11,008 | -21.5% |
| Tangible fixed assets | 22/27 | €51,268 | €40,260 | -€11,008 | -21.5% |
| Plant, machinery and equipment | 23 | €1,693 | €1,185 | -€508 | -30.0% |
| Furniture and vehicles | 24 | €49,575 | €39,075 | -€10,500 | -21.2% |
| Current assets | 29/58 | €97,914 | €53,035 | -€44,879 | -45.8% |
| Amounts receivable within one year | 40/41 | €29,036 | €38,186 | +€9,150 | +31.5% |
| Trade receivables | 40 | €29,036 | €38,186 | +€9,150 | +31.5% |
| Cash at bank and in hand | 54/58 | €67,820 | €13,810 | -€54,010 | -79.6% |
| Deferred charges and accrued income | 490/1 | €1,058 | €1,039 | -€19 | -1.8% |
| Total equity and liabilities | 10/49 | €149,182 | €93,295 | -€55,888 | -37.5% |
| Equity | 10/15 | €112,361 | €3,000 | -€109,361 | -97.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €109,361 | €0 | -€109,361 | -100% |
| Distributable reserves | 133 | €109,361 | €0 | -€109,361 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,822 | €90,295 | +€53,473 | +145% |
| Amounts payable after more than one year | 17 | €13,394 | €5,835 | -€7,559 | -56.4% |
| Financial debts | 170/4 | €13,394 | €5,835 | -€7,559 | -56.4% |
| Amounts payable within one year | 42/48 | €18,265 | €77,487 | +€59,221 | +324% |
| Current portion of amounts payable after more than one year | 42 | €7,314 | €7,559 | +€245 | +3.4% |
| Trade debts | 44 | €221 | €236 | +€15 | +6.8% |
| Suppliers | 440/4 | €221 | €236 | +€15 | +6.8% |
| Taxes, remuneration and social security | 45 | €1,653 | €1,161 | -€492 | -29.8% |
| Taxes | 450/3 | €1,653 | €1,161 | -€492 | -29.8% |
| Other amounts payable | 47/48 | €9,077 | €68,531 | +€59,453 | +655% |
| Accrued charges and deferred income | 492/3 | €5,162 | €6,973 | +€1,811 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,433 | €11,008 | +€7,575 | +221% |
| Other operating charges | 640/8 | €236 | €756 | +€520 | +220% |
| Gross operating margin | 9900 | €86,730 | €65,447 | -€21,283 | -24.5% |
| Operating profit (loss) | 9901 | €83,060 | €53,682 | -€29,378 | -35.4% |
| Financial charges | 65/66B | €959 | €1,469 | +€510 | +53.2% |
| Recurring financial charges | 65 | €959 | €1,469 | +€510 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €82,101 | €52,213 | -€29,888 | -36.4% |
| Income taxes | 67/77 | €16,653 | €10,946 | -€5,707 | -34.3% |
| Profit (loss) for the period | 9904 | €65,448 | €41,267 | -€24,181 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,448 | €41,267 | -€24,181 | -36.9% |
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 20 October 2026 via checked.be.