SETRIMO: 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.
SETRIMO
Largest movements
- Tangible fixed assets +€240,735
up €240,735 (+14.9%), from €1.6m to €1.9m
of which Land and buildings: +€239,765
- Cash -€157,462
down €157,462 (-51.1%), from €308,192 to €150,730
mainly Investment in fixed assets (net) (-€372,468) and Trade debts (-€143,575)
- Debts after one year +€144,491
up €144,491 (+13.6%), from €1.1m to €1.2m
of which Other amounts payable: +€190,000
- Trade debts -€143,575
down €143,575 (-88.9%), from €161,536 to €17,961
- Profit (loss) carried forward +€66,965
up €66,965 (+24.4%), from €274,521 to €341,486
- Gross operating margin +€90,828
up €90,828 (+61.3%), from €148,231 to €239,059
- Depreciation -€19,657
down €19,657 (-13.0%), from €151,390 to €131,733
- Provisions -€12,825
new in 2025: -€12,825
- Financial income -€6,038
down €6,038 (-97.6%), from €6,184 to €146
- Taxes +€3,930
new in 2025: €3,930
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 | €2,392,778 | €2,464,130 | +€71,352 | +3.0% |
| Fixed assets | 21/28 | €1,611,384 | €1,852,119 | +€240,735 | +14.9% |
| Tangible fixed assets | 22/27 | €1,611,384 | €1,852,119 | +€240,735 | +14.9% |
| Land and buildings | 22 | €1,611,384 | €1,851,149 | +€239,765 | +14.9% |
| Plant, machinery and equipment | 23 | - | €970 | +€970 | |
| Current assets | 29/58 | €781,394 | €612,011 | -€169,383 | -21.7% |
| Amounts receivable within one year | 40/41 | €116,600 | €116,687 | +€87 | +0.1% |
| Other amounts receivable | 41 | €116,600 | €116,687 | +€87 | +0.1% |
| Current investments | 50/53 | €354,403 | €342,362 | -€12,041 | -3.4% |
| Cash at bank and in hand | 54/58 | €308,192 | €150,730 | -€157,462 | -51.1% |
| Deferred charges and accrued income | 490/1 | €2,199 | €2,232 | +€33 | +1.5% |
| Total equity and liabilities | 10/49 | €2,392,778 | €2,464,130 | +€71,352 | +3.0% |
| Equity | 10/15 | €342,721 | €409,686 | +€66,965 | +19.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €274,521 | €341,486 | +€66,965 | +24.4% |
| Provisions and deferred taxes | 16 | €37,950 | €25,125 | -€12,825 | -33.8% |
| Provisions for liabilities and charges | 160/5 | €37,950 | €25,125 | -€12,825 | -33.8% |
| Major repairs and maintenance | 162 | €37,950 | - | -€37,950 | |
| Other liabilities and charges | 164/5 | - | €25,125 | +€25,125 | |
| Amounts payable | 17/49 | €2,012,107 | €2,029,319 | +€17,212 | +0.9% |
| Amounts payable after more than one year | 17 | €1,058,798 | €1,203,289 | +€144,491 | +13.6% |
| Financial debts | 170/4 | €357,798 | €312,289 | -€45,509 | -12.7% |
| Other amounts payable | 178/9 | €701,000 | €891,000 | +€190,000 | +27.1% |
| Amounts payable within one year | 42/48 | €732,266 | €589,919 | -€142,347 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €52,782 | €54,851 | +€2,069 | +3.9% |
| Trade debts | 44 | €161,536 | €17,961 | -€143,575 | -88.9% |
| Suppliers | 440/4 | €161,536 | €17,961 | -€143,575 | -88.9% |
| Taxes, remuneration and social security | 45 | €1,859 | €1,018 | -€841 | -45.2% |
| Taxes | 450/3 | €1,859 | €1,018 | -€841 | -45.2% |
| Other amounts payable | 47/48 | €516,089 | €516,089 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €221,043 | €236,111 | +€15,068 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,390 | €131,733 | -€19,657 | -13.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€12,825 | -€12,825 | |
| Other operating charges | 640/8 | €15,807 | €17,312 | +€1,505 | +9.5% |
| Gross operating margin | 9900 | €148,231 | €239,059 | +€90,828 | +61.3% |
| Operating profit (loss) | 9901 | -€18,966 | €102,839 | +€121,805 | |
| Financial income | 75/76B | €6,184 | €146 | -€6,038 | -97.6% |
| Recurring financial income | 75 | €6,184 | €146 | -€6,038 | -97.6% |
| Financial charges | 65/66B | €35,860 | €32,090 | -€3,770 | -10.5% |
| Recurring financial charges | 65 | €35,860 | €32,090 | -€3,770 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€48,642 | €70,895 | +€119,537 | |
| Income taxes | 67/77 | - | €3,930 | +€3,930 | |
| Profit (loss) for the period | 9904 | -€48,642 | €66,965 | +€115,607 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,642 | €66,965 | +€115,607 |
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 7 October 2026 via checked.be.