SEYAL: 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.
SEYAL
Largest movements
- Receivables within one year +€18,273
up €18,273 (+67.4%), from €27,130 to €45,403
of which Trade receivables: +€23,153
- Cash -€14,335
down €14,335 (-23.4%), from €61,254 to €46,919
mainly Receivables within one year (-€18,273) and Tax, wage and social debts (-€13,286)
- Deferred charges and accrued income +€4,616
up €4,616 (+79.9%), from €5,776 to €10,392
- Profit (loss) carried forward +€17,288
up €17,288 (+13.9%), from €124,170 to €141,458
- Tax, wage and social debts -€13,286
down €13,286 (-30.3%), from €43,826 to €30,540
- Trade debts +€3,045
up €3,045 (+376.5%), from €809 to €3,854
- Staff costs +€43,892
new in 2025: €43,892
- Gross operating margin +€39,705
up €39,705 (+150.8%), from €26,329 to €66,034
- Depreciation +€795
up €795 (+45.2%), from €1,758 to €2,554
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 | €171,305 | €178,352 | +€7,048 | +4.1% |
| Fixed assets | 21/28 | €7,144 | €5,638 | -€1,506 | -21.1% |
| Tangible fixed assets | 22/27 | €7,144 | €5,638 | -€1,506 | -21.1% |
| Furniture and vehicles | 24 | €6,156 | €4,755 | -€1,401 | -22.8% |
| Other tangible fixed assets | 26 | €989 | €884 | -€105 | -10.6% |
| Current assets | 29/58 | €164,161 | €172,714 | +€8,554 | +5.2% |
| Amounts receivable after more than one year | 29 | €70,000 | €70,000 | = | 0.0% |
| Other amounts receivable | 291 | €70,000 | €70,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,130 | €45,403 | +€18,273 | +67.4% |
| Trade receivables | 40 | €14,801 | €37,954 | +€23,153 | +156.4% |
| Other amounts receivable | 41 | €12,329 | €7,450 | -€4,879 | -39.6% |
| Cash at bank and in hand | 54/58 | €61,254 | €46,919 | -€14,335 | -23.4% |
| Deferred charges and accrued income | 490/1 | €5,776 | €10,392 | +€4,616 | +79.9% |
| Total equity and liabilities | 10/49 | €171,305 | €178,352 | +€7,048 | +4.1% |
| Equity | 10/15 | €126,670 | €143,958 | +€17,288 | +13.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,170 | €141,458 | +€17,288 | +13.9% |
| Amounts payable | 17/49 | €44,635 | €34,395 | -€10,240 | -22.9% |
| Amounts payable within one year | 42/48 | €44,635 | €34,395 | -€10,240 | -22.9% |
| Trade debts | 44 | €809 | €3,854 | +€3,045 | +376.5% |
| Suppliers | 440/4 | €809 | €3,854 | +€3,045 | +376.5% |
| Taxes, remuneration and social security | 45 | €43,826 | €30,540 | -€13,286 | -30.3% |
| Taxes | 450/3 | €43,826 | €30,540 | -€13,286 | -30.3% |
| Remuneration, social security and pensions | 62 | - | €43,892 | +€43,892 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,758 | €2,554 | +€795 | +45.2% |
| Other operating charges | 640/8 | €490 | - | -€490 | |
| Gross operating margin | 9900 | €26,329 | €66,034 | +€39,705 | +150.8% |
| Operating profit (loss) | 9901 | €24,081 | €19,588 | -€4,493 | -18.7% |
| Financial income | 75/76B | €4,914 | €5,341 | +€427 | +8.7% |
| Recurring financial income | 75 | €4,914 | €5,341 | +€427 | +8.7% |
| Financial charges | 65/66B | €1,604 | €1,385 | -€219 | -13.6% |
| Recurring financial charges | 65 | €1,604 | €1,385 | -€219 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €27,392 | €23,545 | -€3,847 | -14.0% |
| Income taxes | 67/77 | €6,660 | €6,257 | -€403 | -6.1% |
| Profit (loss) for the period | 9904 | €20,732 | €17,288 | -€3,444 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,732 | €17,288 | -€3,444 | -16.6% |
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 4 October 2026 via checked.be.