SEUTABA: 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.
SEUTABA
Largest movements
- Receivables within one year +€26,368
up €26,368 (+95.0%), from €27,769 to €54,137
of which Trade receivables: +€27,618
- Cash -€18,490
down €18,490 (-92.7%), from €19,936 to €1,446
mainly Receivables within one year (-€26,368) and Investment in fixed assets (net) (-€11,291)
- Tangible fixed assets +€8,682
up €8,682 (+280%), from €3,101 to €11,783
of which Furniture and vehicles: +€5,397
- Current investments +€3,840
up €3,840 (+25.0%), from €15,360 to €19,200
- Deferred charges and accrued income -€1,451
down €1,451 (-17.0%), from €8,513 to €7,062
- Other debts +€24,082
up €24,082 (+333%), from €7,223 to €31,305
- Reserves -€7,500
down €7,500 (-22.8%), from €32,860 to €25,360
- Tax, wage and social debts +€4,270
up €4,270 (+36.6%), from €11,669 to €15,939
- Trade debts -€3,031
no longer reported in 2025 (was €3,031)
- Profit (loss) carried forward +€1,127
up €1,127 (+206%), from €547 to €1,674
- Gross operating margin +€4,178
up €4,178 (+54.0%), from €7,743 to €11,921
- Financial income -€1,155
down €1,155 (-95.7%), from €1,207 to €52
- Other operating charges +€973
up €973 (+171%), from €569 to €1,542
- Taxes +€933
up €933 (+39.7%), from €2,348 to €3,281
- Depreciation +€552
up €552 (+26.8%), from €2,057 to €2,609
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 | €74,679 | €93,628 | +€18,949 | +25.4% |
| Fixed assets | 21/28 | €3,101 | €11,783 | +€8,682 | +280% |
| Tangible fixed assets | 22/27 | €3,101 | €11,783 | +€8,682 | +280% |
| Furniture and vehicles | 24 | €526 | €5,923 | +€5,397 | +1,026% |
| Other tangible fixed assets | 26 | €2,575 | €5,860 | +€3,285 | +128% |
| Current assets | 29/58 | €71,578 | €81,844 | +€10,267 | +14.3% |
| Amounts receivable within one year | 40/41 | €27,769 | €54,137 | +€26,368 | +95.0% |
| Trade receivables | 40 | €17,269 | €44,887 | +€27,618 | +160% |
| Other amounts receivable | 41 | €10,500 | €9,250 | -€1,250 | -11.9% |
| Current investments | 50/53 | €15,360 | €19,200 | +€3,840 | +25.0% |
| Cash at bank and in hand | 54/58 | €19,936 | €1,446 | -€18,490 | -92.7% |
| Deferred charges and accrued income | 490/1 | €8,513 | €7,062 | -€1,451 | -17.0% |
| Total equity and liabilities | 10/49 | €74,679 | €93,628 | +€18,949 | +25.4% |
| Equity | 10/15 | €52,007 | €45,634 | -€6,373 | -12.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,860 | €25,360 | -€7,500 | -22.8% |
| Distributable reserves | 133 | €32,860 | €25,360 | -€7,500 | -22.8% |
| Profit (loss) carried forward | 14 | €547 | €1,674 | +€1,127 | +206% |
| Amounts payable | 17/49 | €22,672 | €47,994 | +€25,321 | +112% |
| Amounts payable within one year | 42/48 | €21,922 | €47,244 | +€25,321 | +116% |
| Trade debts | 44 | €3,031 | - | -€3,031 | |
| Suppliers | 440/4 | €3,031 | - | -€3,031 | |
| Taxes, remuneration and social security | 45 | €11,669 | €15,939 | +€4,270 | +36.6% |
| Taxes | 450/3 | €11,669 | €15,939 | +€4,270 | +36.6% |
| Other amounts payable | 47/48 | €7,223 | €31,305 | +€24,082 | +333% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,057 | €2,609 | +€552 | +26.8% |
| Other operating charges | 640/8 | €569 | €1,542 | +€973 | +171% |
| Gross operating margin | 9900 | €7,743 | €11,921 | +€4,178 | +54.0% |
| Operating profit (loss) | 9901 | €5,117 | €7,769 | +€2,653 | +51.8% |
| Financial income | 75/76B | €1,207 | €52 | -€1,155 | -95.7% |
| Recurring financial income | 75 | €1,207 | €52 | -€1,155 | -95.7% |
| Financial charges | 65/66B | €3,532 | €3,413 | -€119 | -3.4% |
| Recurring financial charges | 65 | €3,532 | €3,413 | -€119 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €2,792 | €4,408 | +€1,617 | +57.9% |
| Income taxes | 67/77 | €2,348 | €3,281 | +€933 | +39.7% |
| Profit (loss) for the period | 9904 | €444 | €1,127 | +€683 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €444 | €1,127 | +€683 | +154% |
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 20 October 2026 via checked.be.