SETAMI: 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.
SETAMI
Largest movements
- Receivables within one year -€24,796
down €24,796 (-13.7%), from €180,796 to €156,000
of which Trade receivables: -€45,299
- Tax, wage and social debts -€26,269
down €26,269 (-67.5%), from €38,925 to €12,656
- Gross operating margin -€47,439
down €47,439 (-85.7%), from €55,351 to €7,912
- Taxes -€15,968
down €15,968 (-93.1%), from €17,153 to €1,185
- Depreciation +€2,075
up €2,075 (+56.6%), from €3,667 to €5,742
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 | €192,678 | €167,168 | -€25,510 | -13.2% |
| Fixed assets | 21/28 | €10,233 | €9,116 | -€1,116 | -10.9% |
| Tangible fixed assets | 22/27 | €10,233 | €9,116 | -€1,116 | -10.9% |
| Plant, machinery and equipment | 23 | €6,439 | €6,729 | +€290 | +4.5% |
| Furniture and vehicles | 24 | €3,793 | €2,387 | -€1,406 | -37.1% |
| Current assets | 29/58 | €182,445 | €158,052 | -€24,394 | -13.4% |
| Amounts receivable within one year | 40/41 | €180,796 | €156,000 | -€24,796 | -13.7% |
| Trade receivables | 40 | €54,606 | €9,308 | -€45,299 | -83.0% |
| Other amounts receivable | 41 | €126,190 | €146,692 | +€20,502 | +16.2% |
| Cash at bank and in hand | 54/58 | €1,650 | €2,052 | +€403 | +24.4% |
| Total equity and liabilities | 10/49 | €192,678 | €167,168 | -€25,510 | -13.2% |
| Equity | 10/15 | €153,746 | €154,283 | +€537 | +0.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,104 | €34,104 | = | 0.0% |
| Distributable reserves | 133 | €34,104 | €34,104 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,642 | €115,179 | +€537 | +0.5% |
| Amounts payable | 17/49 | €38,932 | €12,885 | -€26,047 | -66.9% |
| Amounts payable within one year | 42/48 | €38,932 | €12,885 | -€26,047 | -66.9% |
| Trade debts | 44 | €7 | €229 | +€222 | +3369.5% |
| Suppliers | 440/4 | €7 | €229 | +€222 | +3369.5% |
| Taxes, remuneration and social security | 45 | €38,925 | €12,656 | -€26,269 | -67.5% |
| Taxes | 450/3 | €38,925 | €12,656 | -€26,269 | -67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,667 | €5,742 | +€2,075 | +56.6% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €55,351 | €7,912 | -€47,439 | -85.7% |
| Operating profit (loss) | 9901 | €51,299 | €1,783 | -€49,516 | -96.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €42 | €61 | +€19 | +44.5% |
| Recurring financial charges | 65 | €42 | €61 | +€19 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €51,257 | €1,722 | -€49,535 | -96.6% |
| Income taxes | 67/77 | €17,153 | €1,185 | -€15,968 | -93.1% |
| Profit (loss) for the period | 9904 | €34,104 | €537 | -€33,567 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,104 | €537 | -€33,567 | -98.4% |
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 9 October 2026 via checked.be.