SeTi: 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.
SeTi
Largest movements
- Intangible fixed assets -€11,000
down €11,000 (-21.1%), from €52,235 to €41,235
- Cash -€4,682
down €4,682 (-26.0%), from €18,034 to €13,353
mainly Other debts (-€12,296) and Net result for the year (-€2,512)
- Receivables within one year -€2,039
down €2,039 (-41.6%), from €4,908 to €2,869
of which Trade receivables: -€1,069
- Deferred charges and accrued income +€1,709
up €1,709 (+121.7%), from €1,404 to €3,112
- Tangible fixed assets -€1,049
down €1,049 (-19.3%), from €5,423 to €4,374
- Other debts -€12,296
down €12,296 (-71.8%), from €17,135 to €4,839
- Profit (loss) carried forward -€2,512
down €2,512, from €0 to -€2,512
- Trade debts -€1,201
down €1,201 (-24.9%), from €4,820 to €3,620
- Accrued charges and deferred income -€1,086
down €1,086 (-57.7%), from €1,880 to €795
- Gross operating margin -€15,707
down €15,707 (-55.4%), from €28,331 to €12,624
- Taxes -€3,164
down €3,164 (-100.0%), from €3,164 to €0
- Financial charges -€799
down €799 (-39.2%), from €2,039 to €1,241
- Other operating charges +€789
up €789 (+507.4%), from €156 to €945
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 | €86,504 | €69,442 | -€17,062 | -19.7% |
| Fixed assets | 21/28 | €62,158 | €50,109 | -€12,049 | -19.4% |
| Intangible fixed assets | 21 | €52,235 | €41,235 | -€11,000 | -21.1% |
| Tangible fixed assets | 22/27 | €5,423 | €4,374 | -€1,049 | -19.3% |
| Plant, machinery and equipment | 23 | €5,423 | €4,374 | -€1,049 | -19.3% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €24,346 | €19,333 | -€5,012 | -20.6% |
| Amounts receivable within one year | 40/41 | €4,908 | €2,869 | -€2,039 | -41.6% |
| Trade receivables | 40 | €3,938 | €2,869 | -€1,069 | -27.2% |
| Other amounts receivable | 41 | €970 | €0 | -€970 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,034 | €13,353 | -€4,682 | -26.0% |
| Deferred charges and accrued income | 490/1 | €1,404 | €3,112 | +€1,709 | +121.7% |
| Total equity and liabilities | 10/49 | €86,504 | €69,442 | -€17,062 | -19.7% |
| Equity | 10/15 | €62,010 | €59,498 | -€2,512 | -4.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €61,010 | €61,010 | = | 0.0% |
| Distributable reserves | 133 | €61,010 | €61,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€2,512 | -€2,512 | |
| Amounts payable | 17/49 | €24,494 | €9,944 | -€14,550 | -59.4% |
| Amounts payable within one year | 42/48 | €22,613 | €9,149 | -€13,464 | -59.5% |
| Trade debts | 44 | €4,820 | €3,620 | -€1,201 | -24.9% |
| Suppliers | 440/4 | €4,820 | €3,620 | -€1,201 | -24.9% |
| Taxes, remuneration and social security | 45 | €658 | €691 | +€33 | +5.0% |
| Taxes | 450/3 | €658 | €691 | +€33 | +5.0% |
| Other amounts payable | 47/48 | €17,135 | €4,839 | -€12,296 | -71.8% |
| Accrued charges and deferred income | 492/3 | €1,880 | €795 | -€1,086 | -57.7% |
| Non-recurring operating income | 76A | €985 | €0 | -€985 | -100.0% |
| Remuneration, social security and pensions | 62 | €280 | €180 | -€100 | -35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,865 | €12,924 | +€59 | +0.5% |
| Other operating charges | 640/8 | €156 | €945 | +€789 | +507.4% |
| Gross operating margin | 9900 | €28,331 | €12,624 | -€15,707 | -55.4% |
| Operating profit (loss) | 9901 | €15,030 | -€1,425 | -€16,455 | |
| Financial income | 75/76B | €40 | €154 | +€114 | +281.7% |
| Recurring financial income | 75 | €40 | €154 | +€114 | +281.7% |
| Financial charges | 65/66B | €2,039 | €1,241 | -€799 | -39.2% |
| Recurring financial charges | 65 | €2,039 | €1,241 | -€799 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €13,031 | -€2,512 | -€15,543 | |
| Income taxes | 67/77 | €3,164 | €0 | -€3,164 | -100.0% |
| Profit (loss) for the period | 9904 | €9,868 | -€2,512 | -€12,380 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,868 | -€2,512 | -€12,380 |
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 10 October 2026 via checked.be.