SETTO: 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.
SETTO
Largest movements
- Financial fixed assets -€18,251
no longer reported in 2025 (was €18,251)
- Cash +€13,826
up €13,826 (+107%), from €12,978 to €26,804
mainly Investment in fixed assets (net) (+€17,626) and Net result for the year (+€8,211)
- Receivables within one year +€1,879
up €1,879 (+45.4%), from €4,138 to €6,017
of which Other amounts receivable: +€1,637
- Tangible fixed assets +€434
new in 2025: €434
- Trade debts -€11,435
down €11,435 (-86.6%), from €13,211 to €1,776
- Reserves +€8,211
up €8,211 (+87.2%), from €9,416 to €17,627
- Tax, wage and social debts +€1,192
up €1,192 (+11.6%), from €10,239 to €11,431
- Gross operating margin -€3,182
down €3,182 (-16.6%), from €19,176 to €15,994
- Taxes -€1,844
down €1,844 (-27.4%), from €6,733 to €4,889
- Depreciation -€701
down €701 (-78.6%), from €892 to €191
- Financial charges +€491
up €491 (+37.6%), from €1,304 to €1,795
- Other operating charges +€288
up €288 (+30.2%), from €953 to €1,240
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.
Derived cash bridge
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 | €35,366 | €33,333 | -€2,033 | -5.7% |
| Fixed assets | 21/28 | €18,251 | €434 | -€17,817 | -97.6% |
| Tangible fixed assets | 22/27 | - | €434 | +€434 | |
| Furniture and vehicles | 24 | - | €434 | +€434 | |
| Financial fixed assets | 28 | €18,251 | - | -€18,251 | |
| Current assets | 29/58 | €17,115 | €32,899 | +€15,784 | +92.2% |
| Amounts receivable within one year | 40/41 | €4,138 | €6,017 | +€1,879 | +45.4% |
| Trade receivables | 40 | - | €242 | +€242 | |
| Other amounts receivable | 41 | €4,138 | €5,775 | +€1,637 | +39.6% |
| Cash at bank and in hand | 54/58 | €12,978 | €26,804 | +€13,826 | +107% |
| Deferred charges and accrued income | 490/1 | - | €78 | +€78 | |
| Total equity and liabilities | 10/49 | €35,366 | €33,333 | -€2,033 | -5.7% |
| Equity | 10/15 | €11,916 | €20,127 | +€8,211 | +68.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €9,416 | €17,627 | +€8,211 | +87.2% |
| Distributable reserves | 133 | €9,416 | €17,627 | +€8,211 | +87.2% |
| Amounts payable | 17/49 | €23,450 | €13,206 | -€10,244 | -43.7% |
| Amounts payable within one year | 42/48 | €23,450 | €13,206 | -€10,244 | -43.7% |
| Trade debts | 44 | €13,211 | €1,776 | -€11,435 | -86.6% |
| Suppliers | 440/4 | €13,211 | €1,776 | -€11,435 | -86.6% |
| Taxes, remuneration and social security | 45 | €10,239 | €11,431 | +€1,192 | +11.6% |
| Taxes | 450/3 | €10,239 | €11,431 | +€1,192 | +11.6% |
| Non-recurring operating income | 76A | - | €1,749 | +€1,749 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €892 | €191 | -€701 | -78.6% |
| Other operating charges | 640/8 | €953 | €1,240 | +€288 | +30.2% |
| Gross operating margin | 9900 | €19,176 | €15,994 | -€3,182 | -16.6% |
| Operating profit (loss) | 9901 | €17,332 | €14,563 | -€2,769 | -16.0% |
| Financial income | 75/76B | €122 | €332 | +€210 | +172% |
| Recurring financial income | 75 | €122 | €332 | +€210 | +172% |
| Financial charges | 65/66B | €1,304 | €1,795 | +€491 | +37.6% |
| Recurring financial charges | 65 | €1,304 | €1,795 | +€491 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €16,149 | €13,100 | -€3,050 | -18.9% |
| Income taxes | 67/77 | €6,733 | €4,889 | -€1,844 | -27.4% |
| Profit (loss) for the period | 9904 | €9,416 | €8,211 | -€1,205 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,416 | €8,211 | -€1,205 | -12.8% |
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 28 October 2026 via checked.be.