SEUMULHANA: 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.
SEUMULHANA
Largest movements
- Tangible fixed assets +€40,367
up €40,367 (+1,032%), from €3,910 to €44,276
of which Furniture and vehicles: +€41,161
- Receivables within one year +€5,006
new in 2025: €5,006
- Cash +€3,931
up €3,931 (+11.4%), from €34,330 to €38,260
mainly Debts after one year (+€28,747) and Net result for the year (+€12,558)
- Debts after one year +€28,747
new in 2025: €28,747
- Profit (loss) carried forward +€12,558
up €12,558 (+308%), from €4,082 to €16,639
- Tax, wage and social debts -€7,814
no longer reported in 2025 (was €7,814)
- Current portion of long-term debt +€7,569
new in 2025: €7,569
- Trade debts +€3,858
up €3,858 (+109%), from €3,547 to €7,404
- Staff costs -€45,112
down €45,112 (-27.7%), from €163,127 to €118,015
- Gross operating margin -€35,308
down €35,308 (-19.8%), from €178,144 to €142,835
- Depreciation +€4,272
up €4,272 (+427%), from €1,000 to €5,272
- Taxes +€3,188
new in 2025: €3,188
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 | €50,443 | €99,042 | +€48,599 | +96.3% |
| Fixed assets | 21/28 | €12,910 | €53,276 | +€40,367 | +313% |
| Tangible fixed assets | 22/27 | €3,910 | €44,276 | +€40,367 | +1,032% |
| Plant, machinery and equipment | 23 | €3,383 | €2,589 | -€795 | -23.5% |
| Furniture and vehicles | 24 | €526 | €41,688 | +€41,161 | +7,818% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €37,533 | €45,766 | +€8,233 | +21.9% |
| Stocks and contracts in progress | 3 | €3,204 | €2,500 | -€704 | -22.0% |
| Stocks | 30/36 | €3,204 | €2,500 | -€704 | -22.0% |
| Amounts receivable within one year | 40/41 | - | €5,006 | +€5,006 | |
| Other amounts receivable | 41 | - | €5,006 | +€5,006 | |
| Cash at bank and in hand | 54/58 | €34,330 | €38,260 | +€3,931 | +11.4% |
| Total equity and liabilities | 10/49 | €50,443 | €99,042 | +€48,599 | +96.3% |
| Equity | 10/15 | €39,082 | €51,639 | +€12,558 | +32.1% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,082 | €16,639 | +€12,558 | +308% |
| Amounts payable | 17/49 | €11,361 | €47,403 | +€36,042 | +317% |
| Amounts payable after more than one year | 17 | - | €28,747 | +€28,747 | |
| Financial debts | 170/4 | - | €28,747 | +€28,747 | |
| Amounts payable within one year | 42/48 | €11,361 | €18,656 | +€7,294 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,569 | +€7,569 | |
| Trade debts | 44 | €3,547 | €7,404 | +€3,858 | +109% |
| Suppliers | 440/4 | €3,547 | €7,404 | +€3,858 | +109% |
| Taxes, remuneration and social security | 45 | €7,814 | - | -€7,814 | |
| Taxes | 450/3 | €7,814 | - | -€7,814 | |
| Other amounts payable | 47/48 | - | €3,682 | +€3,682 | |
| Remuneration, social security and pensions | 62 | €163,127 | €118,015 | -€45,112 | -27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €5,272 | +€4,272 | +427% |
| Other operating charges | 640/8 | €3,081 | €2,397 | -€684 | -22.2% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €178,144 | €142,835 | -€35,308 | -19.8% |
| Operating profit (loss) | 9901 | €10,935 | €17,088 | +€6,153 | +56.3% |
| Financial charges | 65/66B | €939 | €1,343 | +€404 | +43.0% |
| Recurring financial charges | 65 | €939 | €1,343 | +€404 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €9,996 | €15,745 | +€5,749 | +57.5% |
| Income taxes | 67/77 | - | €3,188 | +€3,188 | |
| Profit (loss) for the period | 9904 | €9,996 | €12,558 | +€2,561 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,996 | €12,558 | +€2,561 | +25.6% |
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 27 October 2026 via checked.be.