SES: 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.
SES
Largest movements
- Cash +€22,047
up €22,047 (+42.1%), from €52,370 to €74,417
mainly Trade debts (+€16,425) and Depreciation (+€13,188)
- Receivables within one year +€12,346
up €12,346 (+106.7%), from €11,569 to €23,914
of which Other amounts receivable: +€12,346
- Deferred charges and accrued income -€3,819
down €3,819 (-97.8%), from €3,906 to €87
- Trade debts +€16,425
up €16,425 (+493.2%), from €3,330 to €19,755
- Reserves +€12,700
up €12,700 (+15.1%), from €83,860 to €96,560
of which Distributable reserves: +€12,700
- Tax, wage and social debts +€11,212
up €11,212 (+37.0%), from €30,264 to €41,475
of which Taxes: +€10,546
- Debts after one year -€5,259
down €5,259 (-25.0%), from €21,001 to €15,741
- Accrued charges and deferred income -€3,555
no longer reported in 2023 (was €3,555)
- Depreciation +€6,892
up €6,892 (+109.5%), from €6,295 to €13,188
- Other operating charges -€3,050
down €3,050 (-22.0%), from €13,892 to €10,842
- Staff costs +€3,024
up €3,024 (+10.5%), from €28,693 to €31,716
- Financial charges +€2,675
up €2,675 (+202.4%), from €1,322 to €3,996
- Gross operating margin +€2,225
up €2,225 (+2.8%), from €80,895 to €83,120
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €201,888 | €233,703 | +€31,815 | +15.8% |
| Fixed assets | 21/28 | €46,044 | €47,285 | +€1,241 | +2.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €40,954 | €42,195 | +€1,241 | +3.0% |
| Plant, machinery and equipment | 23 | €10,088 | €7,840 | -€2,248 | -22.3% |
| Furniture and vehicles | 24 | €30,866 | €34,354 | +€3,489 | +11.3% |
| Financial fixed assets | 28 | €5,090 | €5,090 | = | 0.0% |
| Current assets | 29/58 | €155,844 | €186,418 | +€30,573 | +19.6% |
| Amounts receivable after more than one year | 29 | €88,000 | €88,000 | = | 0.0% |
| Trade receivables | 290 | €88,000 | €88,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,569 | €23,914 | +€12,346 | +106.7% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €11,569 | €23,914 | +€12,346 | +106.7% |
| Cash at bank and in hand | 54/58 | €52,370 | €74,417 | +€22,047 | +42.1% |
| Deferred charges and accrued income | 490/1 | €3,906 | €87 | -€3,819 | -97.8% |
| Total equity and liabilities | 10/49 | €201,888 | €233,703 | +€31,815 | +15.8% |
| Equity | 10/15 | €138,627 | €151,471 | +€12,844 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,860 | €96,560 | +€12,700 | +15.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,000 | €94,700 | +€12,700 | +15.5% |
| Profit (loss) carried forward | 14 | €36,167 | €36,311 | +€144 | +0.4% |
| Amounts payable | 17/49 | €63,261 | €82,231 | +€18,970 | +30.0% |
| Amounts payable after more than one year | 17 | €21,001 | €15,741 | -€5,259 | -25.0% |
| Financial debts | 170/4 | €21,001 | €15,741 | -€5,259 | -25.0% |
| Amounts payable within one year | 42/48 | €38,705 | €66,490 | +€27,785 | +71.8% |
| Current portion of amounts payable after more than one year | 42 | €5,112 | €5,259 | +€148 | +2.9% |
| Trade debts | 44 | €3,330 | €19,755 | +€16,425 | +493.2% |
| Suppliers | 440/4 | €3,330 | €19,755 | +€16,425 | +493.2% |
| Taxes, remuneration and social security | 45 | €30,264 | €41,475 | +€11,212 | +37.0% |
| Taxes | 450/3 | €28,421 | €38,967 | +€10,546 | +37.1% |
| Remuneration and social security | 454/9 | €1,843 | €2,508 | +€665 | +36.1% |
| Accrued charges and deferred income | 492/3 | €3,555 | - | -€3,555 | |
| Remuneration, social security and pensions | 62 | €28,693 | €31,716 | +€3,024 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,295 | €13,188 | +€6,892 | +109.5% |
| Other operating charges | 640/8 | €13,892 | €10,842 | -€3,050 | -22.0% |
| Gross operating margin | 9900 | €80,895 | €83,120 | +€2,225 | +2.8% |
| Operating profit (loss) | 9901 | €32,015 | €27,374 | -€4,641 | -14.5% |
| Financial income | 75/76B | €50 | €13 | -€37 | -74.0% |
| Recurring financial income | 75 | €50 | €13 | -€37 | -74.0% |
| Financial charges | 65/66B | €1,322 | €3,996 | +€2,675 | +202.4% |
| Recurring financial charges | 65 | €1,322 | €3,996 | +€2,675 | +202.4% |
| Profit (loss) for the period before taxes | 9903 | €30,743 | €23,391 | -€7,352 | -23.9% |
| Income taxes | 67/77 | €11,530 | €10,546 | -€983 | -8.5% |
| Profit (loss) for the period | 9904 | €19,214 | €12,844 | -€6,369 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,214 | €12,844 | -€6,369 | -33.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.