SEQUEL EVENTS: what changed
Two fiscal 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.
SEQUEL EVENTS
Largest movements
- Receivables within one year +€124,863
up €124,863 (+156.1%), from €80,014 to €204,877
of which Trade receivables: +€146,683
- Cash +€67,738
up €67,738 (+30.0%), from €225,908 to €293,646
mainly Trade debts (+€103,796) and Net result for the year (+€54,847)
- Stocks and contracts -€46,154
down €46,154 (-79.2%), from €58,254 to €12,100
- Trade debts +€103,796
up €103,796 (+562.6%), from €18,449 to €122,246
- Reserves +€54,231
up €54,231 (+18.8%), from €288,802 to €343,033
- Other debts -€14,873
down €14,873 (-43.5%), from €34,154 to €19,281
- Tax, wage and social debts +€10,118
up €10,118 (+12958.9%), from €78 to €10,196
- Short-term financial debts -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Other operating charges -€83,012
down €83,012 (-98.0%), from €84,724 to €1,712
- Write-downs +€32,288
up €32,288, from -€32,288 to €0
- Taxes +€16,764
up €16,764 (+140.1%), from €11,965 to €28,729
- Financial income -€5,486
down €5,486 (-85.8%), from €6,393 to €908
- Financial charges -€3,708
down €3,708 (-30.0%), from €12,372 to €8,663
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 | €377,301 | €519,756 | +€142,455 | +37.8% |
| Fixed assets | 21/28 | €8,803 | €6,944 | -€1,860 | -21.1% |
| Tangible fixed assets | 22/27 | €5,053 | €3,194 | -€1,860 | -36.8% |
| Plant, machinery and equipment | 23 | €2,336 | €1,835 | -€501 | -21.4% |
| Furniture and vehicles | 24 | €2,717 | €1,358 | -€1,359 | -50.0% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €368,498 | €512,813 | +€144,315 | +39.2% |
| Stocks and contracts in progress | 3 | €58,254 | €12,100 | -€46,154 | -79.2% |
| Stocks | 30/36 | €58,254 | €12,100 | -€46,154 | -79.2% |
| Amounts receivable within one year | 40/41 | €80,014 | €204,877 | +€124,863 | +156.1% |
| Trade receivables | 40 | €56,923 | €203,606 | +€146,683 | +257.7% |
| Other amounts receivable | 41 | €23,091 | €1,271 | -€21,820 | -94.5% |
| Cash at bank and in hand | 54/58 | €225,908 | €293,646 | +€67,738 | +30.0% |
| Deferred charges and accrued income | 490/1 | €4,322 | €2,189 | -€2,133 | -49.3% |
| Total equity and liabilities | 10/49 | €377,301 | €519,756 | +€142,455 | +37.8% |
| Equity | 10/15 | €314,019 | €368,033 | +€54,014 | +17.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €288,802 | €343,033 | +€54,231 | +18.8% |
| Distributable reserves | 133 | €288,802 | €343,033 | +€54,231 | +18.8% |
| Profit (loss) carried forward | 14 | €217 | €0 | -€217 | -100.0% |
| Amounts payable | 17/49 | €63,283 | €151,723 | +€88,441 | +139.8% |
| Amounts payable within one year | 42/48 | €62,681 | €151,723 | +€89,042 | +142.1% |
| Financial debts | 43 | €10,000 | €0 | -€10,000 | -100.0% |
| Credit institutions | 430/8 | €10,000 | €0 | -€10,000 | -100.0% |
| Trade debts | 44 | €18,449 | €122,246 | +€103,796 | +562.6% |
| Suppliers | 440/4 | €18,449 | €122,246 | +€103,796 | +562.6% |
| Taxes, remuneration and social security | 45 | €78 | €10,196 | +€10,118 | +12958.9% |
| Taxes | 450/3 | €78 | €10,196 | +€10,118 | +12958.9% |
| Other amounts payable | 47/48 | €34,154 | €19,281 | -€14,873 | -43.5% |
| Accrued charges and deferred income | 492/3 | €601 | €0 | -€601 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,528 | €1,860 | +€332 | +21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€32,288 | €0 | +€32,288 | |
| Other operating charges | 640/8 | €84,724 | €1,712 | -€83,012 | -98.0% |
| Gross operating margin | 9900 | €91,248 | €94,904 | +€3,656 | +4.0% |
| Operating profit (loss) | 9901 | €37,285 | €91,332 | +€54,047 | +145.0% |
| Financial income | 75/76B | €6,393 | €908 | -€5,486 | -85.8% |
| Recurring financial income | 75 | €6,393 | €908 | -€5,486 | -85.8% |
| Financial charges | 65/66B | €12,372 | €8,663 | -€3,708 | -30.0% |
| Recurring financial charges | 65 | €12,372 | €8,663 | -€3,708 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €31,307 | €83,576 | +€52,269 | +167.0% |
| Income taxes | 67/77 | €11,965 | €28,729 | +€16,764 | +140.1% |
| Profit (loss) for the period | 9904 | €19,342 | €54,847 | +€35,505 | +183.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,342 | €54,847 | +€35,505 | +183.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.