SET-rehab: 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.
SET-rehab
Largest movements
- Tangible fixed assets +€192,756
up €192,756 (+61.9%), from €311,445 to €504,201
of which Land and buildings: +€167,410
- Cash -€7,066
down €7,066 (-44.3%), from €15,951 to €8,885
mainly Investment in fixed assets (net) (-€205,328) and Receivables within one year (-€6,439)
- Receivables within one year +€6,439
new in 2025: €6,439
of which Trade receivables: +€6,418
- Debts after one year +€116,702
up €116,702 (+85.3%), from €136,840 to €253,541
- Other debts +€80,950
up €80,950 (+46.1%), from €175,633 to €256,583
- Profit (loss) carried forward -€6,190
down €6,190 (-37.2%), from -€16,630 to -€22,821
- Gross operating margin +€26,576
up €26,576, from -€11,078 to €15,498
- Financial charges +€7,825
up €7,825 (+3,024%), from €259 to €8,084
- Depreciation +€7,804
up €7,804 (+164%), from €4,768 to €12,572
- Other operating charges +€580
up €580 (+110%), from €526 to €1,105
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 | €327,396 | €519,652 | +€192,255 | +58.7% |
| Fixed assets | 21/28 | €311,445 | €504,201 | +€192,756 | +61.9% |
| Tangible fixed assets | 22/27 | €311,445 | €504,201 | +€192,756 | +61.9% |
| Land and buildings | 22 | €303,925 | €471,335 | +€167,410 | +55.1% |
| Plant, machinery and equipment | 23 | €7,520 | €32,866 | +€25,346 | +337% |
| Current assets | 29/58 | €15,951 | €15,450 | -€501 | -3.1% |
| Amounts receivable within one year | 40/41 | - | €6,439 | +€6,439 | |
| Trade receivables | 40 | - | €6,418 | +€6,418 | |
| Other amounts receivable | 41 | - | €22 | +€22 | |
| Cash at bank and in hand | 54/58 | €15,951 | €8,885 | -€7,066 | -44.3% |
| Deferred charges and accrued income | 490/1 | - | €126 | +€126 | |
| Total equity and liabilities | 10/49 | €327,396 | €519,652 | +€192,255 | +58.7% |
| Equity | 10/15 | -€11,630 | -€17,821 | -€6,190 | -53.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,630 | -€22,821 | -€6,190 | -37.2% |
| Amounts payable | 17/49 | €339,027 | €537,472 | +€198,446 | +58.5% |
| Amounts payable after more than one year | 17 | €136,840 | €253,541 | +€116,702 | +85.3% |
| Financial debts | 170/4 | €136,840 | €253,541 | +€116,702 | +85.3% |
| Amounts payable within one year | 42/48 | €202,187 | €283,931 | +€81,744 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | €22,235 | €18,510 | -€3,725 | -16.8% |
| Trade debts | 44 | €410 | €5,238 | +€4,827 | +1,176% |
| Suppliers | 440/4 | €410 | €5,238 | +€4,827 | +1,176% |
| Taxes, remuneration and social security | 45 | €3,908 | €3,600 | -€308 | -7.9% |
| Taxes | 450/3 | €3,908 | €3,600 | -€308 | -7.9% |
| Other amounts payable | 47/48 | €175,633 | €256,583 | +€80,950 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,768 | €12,572 | +€7,804 | +164% |
| Other operating charges | 640/8 | €526 | €1,105 | +€580 | +110% |
| Gross operating margin | 9900 | -€11,078 | €15,498 | +€26,576 | |
| Operating profit (loss) | 9901 | -€16,372 | €1,821 | +€18,192 | |
| Financial income | 75/76B | - | €73 | +€73 | |
| Recurring financial income | 75 | - | €73 | +€73 | |
| Financial charges | 65/66B | €259 | €8,084 | +€7,825 | +3,024% |
| Recurring financial charges | 65 | €259 | €8,084 | +€7,825 | +3,024% |
| Profit (loss) for the period before taxes | 9903 | -€16,630 | -€6,190 | +€10,440 | +62.8% |
| Profit (loss) for the period | 9904 | -€16,630 | -€6,190 | +€10,440 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,630 | -€6,190 | +€10,440 | +62.8% |
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 16 October 2026 via checked.be.