SETEC: 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.
SETEC
Largest movements
- Cash +€112,116
up €112,116 (+101.5%), from €110,510 to €222,626
mainly Net result for the year (+€168,169) and Trade debts (+€51,522)
- Receivables within one year +€87,830
up €87,830 (+64.5%), from €136,189 to €224,018
of which Trade receivables: +€98,805
- Stocks and contracts -€50,861
down €50,861 (-10.3%), from €493,411 to €442,550
- Reserves +€168,169
up €168,169 (+31.3%), from €536,596 to €704,765
- Other debts -€75,229
down €75,229 (-100.0%), from €75,229 to €0
- Trade debts +€51,522
up €51,522 (+69.6%), from €74,044 to €125,566
- Tax, wage and social debts +€30,085
up €30,085 (+158.9%), from €18,934 to €49,019
of which Remuneration and social security: +€20,090
- Advances received -€21,982
down €21,982 (-100.0%), from €21,982 to €0
- Turnover +€466,449
up €466,449 (+46.4%), from €1.0m to €1.5m
- Goods and materials +€280,770
up €280,770 (+50.6%), from €554,453 to €835,222
of which Purchases: +€275,694
- Staff costs +€96,392
up €96,392 (+54.2%), from €177,890 to €274,281
- Taxes +€23,794
up €23,794 (+67.8%), from €35,118 to €58,912
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 | €764,259 | €909,975 | +€145,716 | +19.1% |
| Fixed assets | 21/28 | €24,150 | €18,768 | -€5,382 | -22.3% |
| Tangible fixed assets | 22/27 | €24,150 | €18,768 | -€5,382 | -22.3% |
| Furniture and vehicles | 24 | €24,150 | €18,768 | -€5,382 | -22.3% |
| Current assets | 29/58 | €740,109 | €891,207 | +€151,098 | +20.4% |
| Stocks and contracts in progress | 3 | €493,411 | €442,550 | -€50,861 | -10.3% |
| Stocks | 30/36 | €493,411 | €442,550 | -€50,861 | -10.3% |
| Goods purchased for resale | 34 | €493,411 | €442,550 | -€50,861 | -10.3% |
| Amounts receivable within one year | 40/41 | €136,189 | €224,018 | +€87,830 | +64.5% |
| Trade receivables | 40 | €111,922 | €210,727 | +€98,805 | +88.3% |
| Other amounts receivable | 41 | €24,267 | €13,292 | -€10,975 | -45.2% |
| Cash at bank and in hand | 54/58 | €110,510 | €222,626 | +€112,116 | +101.5% |
| Deferred charges and accrued income | 490/1 | €0 | €2,013 | +€2,013 | |
| Total equity and liabilities | 10/49 | €764,259 | €909,975 | +€145,716 | +19.1% |
| Equity | 10/15 | €555,196 | €723,365 | +€168,169 | +30.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €536,596 | €704,765 | +€168,169 | +31.3% |
| Distributable reserves | 133 | €536,596 | €704,765 | +€168,169 | +31.3% |
| Amounts payable | 17/49 | €209,062 | €186,610 | -€22,452 | -10.7% |
| Amounts payable after more than one year | 17 | €12,026 | €5,600 | -€6,425 | -53.4% |
| Financial debts | 170/4 | €12,026 | €5,600 | -€6,425 | -53.4% |
| Credit institutions | 173 | €12,026 | €5,600 | -€6,425 | -53.4% |
| Amounts payable within one year | 42/48 | €196,307 | €181,010 | -€15,298 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €6,118 | €6,425 | +€307 | +5.0% |
| Trade debts | 44 | €74,044 | €125,566 | +€51,522 | +69.6% |
| Suppliers | 440/4 | €74,044 | €125,566 | +€51,522 | +69.6% |
| Advances received on contracts in progress | 46 | €21,982 | €0 | -€21,982 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,934 | €49,019 | +€30,085 | +158.9% |
| Taxes | 450/3 | €7,128 | €17,123 | +€9,995 | +140.2% |
| Remuneration and social security | 454/9 | €11,806 | €31,896 | +€20,090 | +170.2% |
| Other amounts payable | 47/48 | €75,229 | €0 | -€75,229 | -100.0% |
| Accrued charges and deferred income | 492/3 | €729 | €0 | -€729 | -100.0% |
| Operating income | 70/76A | €1,008,874 | €1,480,604 | +€471,731 | +46.8% |
| Turnover | 70 | €1,005,813 | €1,472,262 | +€466,449 | +46.4% |
| Other operating income | 74 | €3,061 | €8,342 | +€5,282 | +172.6% |
| Operating charges | 60/66A | €865,548 | €1,249,461 | +€383,913 | +44.4% |
| Goods for resale, raw materials and consumables | 60 | €554,453 | €835,222 | +€280,770 | +50.6% |
| Purchases | 600/8 | €508,668 | €784,362 | +€275,694 | +54.2% |
| Change in stocks: decrease (increase) | 609 | €45,785 | €50,861 | +€5,076 | +11.1% |
| Services and other goods | 61 | €120,330 | €130,294 | +€9,964 | +8.3% |
| Remuneration, social security and pensions | 62 | €177,890 | €274,281 | +€96,392 | +54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,157 | €8,406 | +€1,249 | +17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,848 | €0 | -€4,848 | -100.0% |
| Other operating charges | 640/8 | €870 | €1,256 | +€387 | +44.5% |
| Operating profit (loss) | 9901 | €143,326 | €231,143 | +€87,817 | +61.3% |
| Financial income | 75/76B | €236 | €1,336 | +€1,101 | +467.1% |
| Recurring financial income | 75 | €236 | €1,336 | +€1,101 | +467.1% |
| Other financial income | 752/9 | €236 | €1,336 | +€1,101 | +467.1% |
| Financial charges | 65/66B | €10,350 | €5,399 | -€4,951 | -47.8% |
| Recurring financial charges | 65 | €10,350 | €5,399 | -€4,951 | -47.8% |
| Debt charges | 650 | €7,467 | €3,881 | -€3,586 | -48.0% |
| Other financial charges | 652/9 | €2,883 | €1,518 | -€1,365 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €133,212 | €227,080 | +€93,868 | +70.5% |
| Income taxes | 67/77 | €35,118 | €58,912 | +€23,794 | +67.8% |
| Taxes | 670/3 | €35,118 | €58,912 | +€23,794 | +67.8% |
| Profit (loss) for the period | 9904 | €98,094 | €168,169 | +€70,075 | +71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €98,094 | €168,169 | +€70,075 | +71.4% |
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 4 October 2026 via checked.be.