SEYCO: 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.
SEYCO
Largest movements
- Cash -€107,835
down €107,835 (-69.9%), from €154,295 to €46,460
mainly Current investments (-€99,000) and Investment in fixed assets (net) (-€35,395)
- Current investments +€99,000
new in 2025: €99,000
- Reserves +€17,999
up €17,999 (+4.0%), from €445,306 to €463,306
of which Distributable reserves: +€17,999
- Debts after one year -€15,860
down €15,860 (-100.0%), from €15,860 to €0
- Tax, wage and social debts -€13,906
down €13,906 (-34.0%), from €40,950 to €27,044
- Gross operating margin -€65,240
down €65,240 (-47.1%), from €138,439 to €73,199
- Taxes -€23,675
down €23,675 (-70.5%), from €33,600 to €9,925
- Other operating charges +€4,112
up €4,112 (+753.6%), from €546 to €4,658
- Depreciation +€2,005
up €2,005 (+5.4%), from €37,143 to €39,148
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 | €446,233 | €436,113 | -€10,120 | -2.3% |
| Fixed assets | 21/28 | €289,129 | €285,376 | -€3,753 | -1.3% |
| Tangible fixed assets | 22/27 | €289,129 | €285,376 | -€3,753 | -1.3% |
| Land and buildings | 22 | €235,998 | €251,555 | +€15,557 | +6.6% |
| Plant, machinery and equipment | 23 | €2,647 | €335 | -€2,311 | -87.3% |
| Furniture and vehicles | 24 | €50,484 | €33,485 | -€16,999 | -33.7% |
| Current assets | 29/58 | €157,104 | €150,738 | -€6,367 | -4.1% |
| Amounts receivable within one year | 40/41 | €1,250 | €2,992 | +€1,742 | +139.4% |
| Trade receivables | 40 | €1,250 | €1 | -€1,249 | -99.9% |
| Other amounts receivable | 41 | - | €2,991 | +€2,991 | |
| Current investments | 50/53 | - | €99,000 | +€99,000 | |
| Cash at bank and in hand | 54/58 | €154,295 | €46,460 | -€107,835 | -69.9% |
| Deferred charges and accrued income | 490/1 | €1,560 | €2,286 | +€726 | +46.5% |
| Total equity and liabilities | 10/49 | €446,233 | €436,113 | -€10,120 | -2.3% |
| Equity | 10/15 | €373,162 | €391,162 | +€17,999 | +4.8% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €445,306 | €463,306 | +€17,999 | +4.0% |
| Tax-exempt reserves | 132 | €14,941 | €14,941 | = | 0.0% |
| Distributable reserves | 133 | €430,365 | €448,364 | +€17,999 | +4.2% |
| Profit (loss) carried forward | 14 | -€78,349 | -€78,349 | = | 0.0% |
| Amounts payable | 17/49 | €73,071 | €44,952 | -€28,119 | -38.5% |
| Amounts payable after more than one year | 17 | €15,860 | €0 | -€15,860 | -100.0% |
| Financial debts | 170/4 | €15,860 | €0 | -€15,860 | -100.0% |
| Amounts payable within one year | 42/48 | €57,162 | €44,952 | -€12,211 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €15,272 | €15,860 | +€588 | +3.8% |
| Trade debts | 44 | €188 | €1,348 | +€1,160 | +617.2% |
| Suppliers | 440/4 | €188 | €1,348 | +€1,160 | +617.2% |
| Taxes, remuneration and social security | 45 | €40,950 | €27,044 | -€13,906 | -34.0% |
| Taxes | 450/3 | €40,950 | €27,044 | -€13,906 | -34.0% |
| Other amounts payable | 47/48 | €752 | €700 | -€52 | -7.0% |
| Accrued charges and deferred income | 492/3 | €49 | €0 | -€49 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,143 | €39,148 | +€2,005 | +5.4% |
| Other operating charges | 640/8 | €546 | €4,658 | +€4,112 | +753.6% |
| Gross operating margin | 9900 | €138,439 | €73,199 | -€65,240 | -47.1% |
| Operating profit (loss) | 9901 | €100,750 | €29,393 | -€71,358 | -70.8% |
| Financial income | 75/76B | €128 | €604 | +€476 | +371.1% |
| Recurring financial income | 75 | €128 | €604 | +€476 | +371.1% |
| Financial charges | 65/66B | €1,676 | €2,072 | +€395 | +23.6% |
| Recurring financial charges | 65 | €1,676 | €2,072 | +€395 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €99,202 | €27,925 | -€71,277 | -71.9% |
| Income taxes | 67/77 | €33,600 | €9,925 | -€23,675 | -70.5% |
| Profit (loss) for the period | 9904 | €65,602 | €17,999 | -€47,603 | -72.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,602 | €17,999 | -€47,603 | -72.6% |
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 9 October 2026 via checked.be.