SEYCOM: 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.
SEYCOM
Largest movements
- Cash +€139,818
up €139,818 (+3,080%), from €4,539 to €144,357
mainly Net result for the year (+€124,380) and Receivables within one year (+€71,846)
- Receivables within one year -€71,846
down €71,846 (-16.2%), from €444,550 to €372,704
of which Trade receivables: -€63,686
- Tangible fixed assets +€24,892
up €24,892 (+9.1%), from €272,309 to €297,201
of which Land and buildings: +€18,524
- Reserves +€93,000
up €93,000 (+16.0%), from €582,100 to €675,100
of which Distributable reserves: +€93,000
- Other debts +€21,677
up €21,677 (+66.7%), from €32,506 to €54,183
- Debts after one year -€12,974
down €12,974 (-19.4%), from €66,850 to €53,876
- Gross operating margin +€90,091
up €90,091 (+104%), from €86,386 to €176,477
- Taxes +€20,851
up €20,851 (+107%), from €19,409 to €40,261
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 | €1,118,894 | €1,209,834 | +€90,940 | +8.1% |
| Fixed assets | 21/28 | €664,309 | €689,201 | +€24,892 | +3.7% |
| Tangible fixed assets | 22/27 | €272,309 | €297,201 | +€24,892 | +9.1% |
| Land and buildings | 22 | €262,181 | €280,704 | +€18,524 | +7.1% |
| Plant, machinery and equipment | 23 | €5,952 | €8,346 | +€2,394 | +40.2% |
| Furniture and vehicles | 24 | €4,177 | €8,151 | +€3,974 | +95.2% |
| Financial fixed assets | 28 | €392,000 | €392,000 | = | 0.0% |
| Current assets | 29/58 | €454,584 | €520,633 | +€66,048 | +14.5% |
| Amounts receivable within one year | 40/41 | €444,550 | €372,704 | -€71,846 | -16.2% |
| Trade receivables | 40 | €309,781 | €246,095 | -€63,686 | -20.6% |
| Other amounts receivable | 41 | €134,770 | €126,609 | -€8,161 | -6.1% |
| Cash at bank and in hand | 54/58 | €4,539 | €144,357 | +€139,818 | +3,080% |
| Deferred charges and accrued income | 490/1 | €5,495 | €3,571 | -€1,924 | -35.0% |
| Total equity and liabilities | 10/49 | €1,118,894 | €1,209,834 | +€90,940 | +8.1% |
| Equity | 10/15 | €921,202 | €1,015,583 | +€94,380 | +10.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €582,100 | €675,100 | +€93,000 | +16.0% |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €540,000 | €633,000 | +€93,000 | +17.2% |
| Profit (loss) carried forward | 14 | €189,102 | €190,483 | +€1,380 | +0.7% |
| Amounts payable | 17/49 | €197,691 | €194,251 | -€3,440 | -1.7% |
| Amounts payable after more than one year | 17 | €66,850 | €53,876 | -€12,974 | -19.4% |
| Financial debts | 170/4 | €66,850 | €53,876 | -€12,974 | -19.4% |
| Amounts payable within one year | 42/48 | €130,841 | €140,375 | +€9,534 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €40,334 | €40,514 | +€181 | +0.4% |
| Trade debts | 44 | €26,961 | €20,304 | -€6,657 | -24.7% |
| Suppliers | 440/4 | €26,961 | €20,304 | -€6,657 | -24.7% |
| Taxes, remuneration and social security | 45 | €31,040 | €25,373 | -€5,667 | -18.3% |
| Taxes | 450/3 | €31,040 | €25,373 | -€5,667 | -18.3% |
| Other amounts payable | 47/48 | €32,506 | €54,183 | +€21,677 | +66.7% |
| Non-recurring operating income | 76A | - | €5,244 | +€5,244 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,013 | €28,208 | +€1,195 | +4.4% |
| Other operating charges | 640/8 | €1,281 | €1,663 | +€382 | +29.8% |
| Gross operating margin | 9900 | €86,386 | €176,477 | +€90,091 | +104% |
| Operating profit (loss) | 9901 | €58,092 | €146,606 | +€88,514 | +152% |
| Financial income | 75/76B | €21,172 | €21,793 | +€621 | +2.9% |
| Recurring financial income | 75 | €21,172 | €21,793 | +€621 | +2.9% |
| Financial charges | 65/66B | €3,230 | €3,758 | +€528 | +16.4% |
| Recurring financial charges | 65 | €3,230 | €3,758 | +€528 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €76,034 | €164,641 | +€88,607 | +117% |
| Income taxes | 67/77 | €19,409 | €40,261 | +€20,851 | +107% |
| Profit (loss) for the period | 9904 | €56,625 | €124,380 | +€67,756 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €56,625 | €124,380 | +€67,756 | +120% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.