SETIS SYSTEMS: 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.
SETIS SYSTEMS
Largest movements
- Stocks and contracts -€47,612
down €47,612 (-41.3%), from €115,255 to €67,643
- Cash -€40,538
down €40,538 (-84.6%), from €47,891 to €7,353
mainly Net result for the year (-€98,059) and Investment in fixed assets (net) (-€15,100)
- Tangible fixed assets +€13,482
up €13,482 (+482.7%), from €2,793 to €16,275
- Receivables within one year -€8,231
down €8,231 (-4.2%), from €196,573 to €188,341
of which Other amounts receivable: -€32,664
- Reserves -€75,193
down €75,193 (-31.5%), from €238,568 to €163,375
of which Distributable reserves: -€75,193
- Trade debts +€29,401
up €29,401 (+73.9%), from €39,806 to €69,206
- Profit (loss) carried forward -€22,865
new in 2024: -€22,865
- Tax, wage and social debts -€13,452
down €13,452 (-36.4%), from €36,991 to €23,539
of which Taxes: -€19,417
- Gross operating margin -€155,539
down €155,539 (-85.9%), from €181,087 to €25,548
- Staff costs +€43,654
up €43,654 (+55.1%), from €79,226 to €122,881
- Taxes -€29,410
down €29,410 (-100.0%), from €29,410 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €363,787 | €281,677 | -€82,110 | -22.6% |
| Fixed assets | 21/28 | €2,793 | €16,275 | +€13,482 | +482.7% |
| Tangible fixed assets | 22/27 | €2,793 | €16,275 | +€13,482 | +482.7% |
| Plant, machinery and equipment | 23 | €2,793 | €16,275 | +€13,482 | +482.7% |
| Current assets | 29/58 | €360,994 | €265,402 | -€95,592 | -26.5% |
| Stocks and contracts in progress | 3 | €115,255 | €67,643 | -€47,612 | -41.3% |
| Stocks | 30/36 | €115,255 | €67,643 | -€47,612 | -41.3% |
| Amounts receivable within one year | 40/41 | €196,573 | €188,341 | -€8,231 | -4.2% |
| Trade receivables | 40 | €8,969 | €33,401 | +€24,432 | +272.4% |
| Other amounts receivable | 41 | €187,604 | €154,940 | -€32,664 | -17.4% |
| Cash at bank and in hand | 54/58 | €47,891 | €7,353 | -€40,538 | -84.6% |
| Deferred charges and accrued income | 490/1 | €1,275 | €2,065 | +€789 | +61.9% |
| Total equity and liabilities | 10/49 | €363,787 | €281,677 | -€82,110 | -22.6% |
| Equity | 10/15 | €286,990 | €188,932 | -€98,059 | -34.2% |
| Contributions | 10/11 | €48,423 | €48,423 | = | 0.0% |
| Reserves | 13 | €238,568 | €163,375 | -€75,193 | -31.5% |
| Non-distributable reserves | 130/1 | €4,842 | €4,842 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,842 | €4,842 | = | 0.0% |
| Distributable reserves | 133 | €233,725 | €158,532 | -€75,193 | -32.2% |
| Profit (loss) carried forward | 14 | - | -€22,865 | -€22,865 | |
| Amounts payable | 17/49 | €76,797 | €92,745 | +€15,948 | +20.8% |
| Amounts payable within one year | 42/48 | €76,797 | €92,745 | +€15,948 | +20.8% |
| Trade debts | 44 | €39,806 | €69,206 | +€29,401 | +73.9% |
| Suppliers | 440/4 | €39,806 | €69,206 | +€29,401 | +73.9% |
| Taxes, remuneration and social security | 45 | €36,991 | €23,539 | -€13,452 | -36.4% |
| Taxes | 450/3 | €20,434 | €1,017 | -€19,417 | -95.0% |
| Remuneration and social security | 454/9 | €16,557 | €22,522 | +€5,965 | +36.0% |
| Remuneration, social security and pensions | 62 | €79,226 | €122,881 | +€43,654 | +55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €765 | €1,619 | +€854 | +111.7% |
| Other operating charges | 640/8 | €439 | €583 | +€143 | +32.6% |
| Gross operating margin | 9900 | €181,087 | €25,548 | -€155,539 | -85.9% |
| Operating profit (loss) | 9901 | €100,657 | -€99,534 | -€200,191 | |
| Financial income | 75/76B | €1,641 | €1,948 | +€307 | +18.7% |
| Recurring financial income | 75 | €1,641 | €1,948 | +€307 | +18.7% |
| Financial charges | 65/66B | €860 | €473 | -€388 | -45.1% |
| Recurring financial charges | 65 | €860 | €473 | -€388 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €101,437 | -€98,059 | -€199,496 | |
| Income taxes | 67/77 | €29,410 | €0 | -€29,410 | -100.0% |
| Profit (loss) for the period | 9904 | €72,028 | -€98,059 | -€170,086 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,028 | -€98,059 | -€170,086 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.