SETTEBELLO: 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.
SETTEBELLO
Largest movements
- Tangible fixed assets +€98,070
up €98,070 (+125.6%), from €78,094 to €176,164
of which Other tangible fixed assets: +€80,890
- Receivables within one year +€28,582
up €28,582 (+13.0%), from €219,839 to €248,421
of which Other amounts receivable: +€30,802
- Cash +€27,655
up €27,655 (+82.0%), from €33,731 to €61,387
mainly Trade debts (+€106,378) and Net result for the year (+€102,978)
- Stocks and contracts -€23,060
down €23,060 (-65.9%), from €35,000 to €11,940
- Trade debts +€106,378
up €106,378 (+250.7%), from €42,429 to €148,807
- Profit (loss) carried forward +€102,978
up €102,978, from -€38,684 to €64,294
- Tax, wage and social debts -€89,076
down €89,076 (-28.5%), from €312,833 to €223,756
of which Remuneration and social security: -€63,127
- Debts after one year +€14,039
up €14,039 (+52.3%), from €26,844 to €40,883
of which Other amounts payable: +€28,316
- Gross operating margin +€137,897
up €137,897 (+25.3%), from €545,881 to €683,778
- Taxes +€82,311
up €82,311 (+2572.2%), from €3,200 to €85,511
- Other operating charges -€78,872
down €78,872 (-67.7%), from €116,569 to €37,697
- Financial income +€23,171
new in 2025: €23,171
- Depreciation +€10,161
up €10,161 (+60.8%), from €16,716 to €26,877
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 | €366,870 | €502,016 | +€135,146 | +36.8% |
| Fixed assets | 21/28 | €78,299 | €176,369 | +€98,070 | +125.2% |
| Tangible fixed assets | 22/27 | €78,094 | €176,164 | +€98,070 | +125.6% |
| Furniture and vehicles | 24 | €73,868 | €91,048 | +€17,180 | +23.3% |
| Other tangible fixed assets | 26 | €4,226 | €85,116 | +€80,890 | +1914.0% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €288,571 | €325,648 | +€37,077 | +12.8% |
| Stocks and contracts in progress | 3 | €35,000 | €11,940 | -€23,060 | -65.9% |
| Stocks | 30/36 | €35,000 | €11,940 | -€23,060 | -65.9% |
| Amounts receivable within one year | 40/41 | €219,839 | €248,421 | +€28,582 | +13.0% |
| Trade receivables | 40 | €2,220 | - | -€2,220 | |
| Other amounts receivable | 41 | €217,619 | €248,421 | +€30,802 | +14.2% |
| Cash at bank and in hand | 54/58 | €33,731 | €61,387 | +€27,655 | +82.0% |
| Deferred charges and accrued income | 490/1 | - | €3,899 | +€3,899 | |
| Total equity and liabilities | 10/49 | €366,870 | €502,016 | +€135,146 | +36.8% |
| Equity | 10/15 | -€28,684 | €74,294 | +€102,978 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,684 | €64,294 | +€102,978 | |
| Amounts payable | 17/49 | €395,554 | €427,722 | +€32,169 | +8.1% |
| Amounts payable after more than one year | 17 | €26,844 | €40,883 | +€14,039 | +52.3% |
| Financial debts | 170/4 | €26,844 | €12,567 | -€14,277 | -53.2% |
| Other amounts payable | 178/9 | - | €28,316 | +€28,316 | |
| Amounts payable within one year | 42/48 | €368,710 | €386,840 | +€18,130 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €13,449 | €14,277 | +€828 | +6.2% |
| Trade debts | 44 | €42,429 | €148,807 | +€106,378 | +250.7% |
| Suppliers | 440/4 | €42,429 | €148,807 | +€106,378 | +250.7% |
| Taxes, remuneration and social security | 45 | €312,833 | €223,756 | -€89,076 | -28.5% |
| Taxes | 450/3 | €158,741 | €132,792 | -€25,949 | -16.3% |
| Remuneration and social security | 454/9 | €154,092 | €90,964 | -€63,127 | -41.0% |
| Remuneration, social security and pensions | 62 | €435,541 | €442,055 | +€6,514 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,716 | €26,877 | +€10,161 | +60.8% |
| Other operating charges | 640/8 | €116,569 | €37,697 | -€78,872 | -67.7% |
| Gross operating margin | 9900 | €545,881 | €683,778 | +€137,897 | +25.3% |
| Operating profit (loss) | 9901 | -€22,945 | €177,149 | +€200,094 | |
| Financial income | 75/76B | - | €23,171 | +€23,171 | |
| Recurring financial income | 75 | - | €23,171 | +€23,171 | |
| Financial charges | 65/66B | €13,668 | €11,831 | -€1,837 | -13.4% |
| Recurring financial charges | 65 | €13,668 | €11,831 | -€1,837 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | -€36,613 | €188,488 | +€225,101 | |
| Income taxes | 67/77 | €3,200 | €85,511 | +€82,311 | +2572.2% |
| Profit (loss) for the period | 9904 | -€39,813 | €102,978 | +€142,791 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,813 | €102,978 | +€142,791 |
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.