Sey Hilde: 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.
Sey Hilde
Largest movements
- Cash +€44,630
up €44,630 (+47.5%), from €93,955 to €138,585
mainly Net result for the year (+€37,858) and Tax, wage and social debts (+€13,303)
- Current investments +€15,000
up €15,000 (+23.1%), from €65,000 to €80,000
- Reserves +€37,858
up €37,858 (+26.5%), from €142,682 to €180,540
of which Distributable reserves: +€37,858
- Tax, wage and social debts +€13,303
up €13,303 (+484%), from €2,748 to €16,051
- Trade debts +€7,084
up €7,084 (+44.6%), from €15,885 to €22,969
- Other debts +€2,402
up €2,402 (+56.5%), from €4,249 to €6,651
- Gross operating margin +€28,358
up €28,358 (+76.4%), from €37,110 to €65,467
- Taxes +€10,941
up €10,941 (+115%), from €9,485 to €20,425
- Depreciation +€2,381
up €2,381 (+82.7%), from €2,881 to €5,262
- Financial charges +€1,325
up €1,325 (+75.0%), from €1,767 to €3,092
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 | €178,537 | €239,119 | +€60,583 | +33.9% |
| Fixed assets | 21/28 | €18,085 | €18,241 | +€156 | +0.9% |
| Tangible fixed assets | 22/27 | €18,085 | €18,241 | +€156 | +0.9% |
| Land and buildings | 22 | €3,236 | €2,885 | -€351 | -10.9% |
| Plant, machinery and equipment | 23 | €11,825 | €8,885 | -€2,940 | -24.9% |
| Furniture and vehicles | 24 | €2,602 | €6,190 | +€3,588 | +138% |
| Other tangible fixed assets | 26 | €423 | €282 | -€141 | -33.3% |
| Current assets | 29/58 | €160,451 | €220,878 | +€60,427 | +37.7% |
| Current investments | 50/53 | €65,000 | €80,000 | +€15,000 | +23.1% |
| Cash at bank and in hand | 54/58 | €93,955 | €138,585 | +€44,630 | +47.5% |
| Deferred charges and accrued income | 490/1 | €1,496 | €2,292 | +€796 | +53.2% |
| Total equity and liabilities | 10/49 | €178,537 | €239,119 | +€60,583 | +33.9% |
| Equity | 10/15 | €155,082 | €192,940 | +€37,858 | +24.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €142,682 | €180,540 | +€37,858 | +26.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €142,682 | €180,540 | +€37,858 | +26.5% |
| Amounts payable | 17/49 | €23,454 | €46,179 | +€22,725 | +96.9% |
| Amounts payable within one year | 42/48 | €22,882 | €45,671 | +€22,789 | +99.6% |
| Trade debts | 44 | €15,885 | €22,969 | +€7,084 | +44.6% |
| Suppliers | 440/4 | €15,885 | €22,969 | +€7,084 | +44.6% |
| Taxes, remuneration and social security | 45 | €2,748 | €16,051 | +€13,303 | +484% |
| Taxes | 450/3 | €2,748 | €16,051 | +€13,303 | +484% |
| Other amounts payable | 47/48 | €4,249 | €6,651 | +€2,402 | +56.5% |
| Accrued charges and deferred income | 492/3 | €573 | €508 | -€65 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,881 | €5,262 | +€2,381 | +82.7% |
| Other operating charges | 640/8 | €1,065 | €861 | -€205 | -19.2% |
| Gross operating margin | 9900 | €37,110 | €65,467 | +€28,358 | +76.4% |
| Operating profit (loss) | 9901 | €33,164 | €59,345 | +€26,181 | +78.9% |
| Financial income | 75/76B | €2,550 | €2,030 | -€520 | -20.4% |
| Recurring financial income | 75 | €2,550 | €2,030 | -€520 | -20.4% |
| Financial charges | 65/66B | €1,767 | €3,092 | +€1,325 | +75.0% |
| Recurring financial charges | 65 | €1,767 | €3,092 | +€1,325 | +75.0% |
| Profit (loss) for the period before taxes | 9903 | €33,947 | €58,283 | +€24,336 | +71.7% |
| Income taxes | 67/77 | €9,485 | €20,425 | +€10,941 | +115% |
| Profit (loss) for the period | 9904 | €24,462 | €37,858 | +€13,396 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,462 | €37,858 | +€13,396 | +54.8% |
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 27 October 2026 via checked.be.