SEYHA: 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.
SEYHA
Largest movements
- Tangible fixed assets +€34,534
up €34,534 (+200%), from €17,242 to €51,775
of which Furniture and vehicles: +€19,973
- Intangible fixed assets -€13,771
down €13,771 (-31.8%), from €43,326 to €29,555
- Receivables within one year +€8,131
up €8,131 (+45.3%), from €17,942 to €26,073
of which Trade receivables: +€8,131
- Cash +€6,598
up €6,598 (+12.7%), from €52,033 to €58,631
mainly Net result for the year (+€33,295) and Depreciation (+€18,396)
- Reserves +€30,000
new in 2025: €30,000
- Trade debts +€9,997
up €9,997 (+210%), from €4,760 to €14,758
- Tax, wage and social debts -€6,212
down €6,212 (-23.2%), from €26,816 to €20,604
of which Taxes: -€6,796
- Profit (loss) carried forward +€3,295
up €3,295 (+6.0%), from €54,848 to €58,143
- Current portion of long-term debt -€2,902
no longer reported in 2025 (was €2,902)
- Gross operating margin +€45,850
up €45,850 (+61.8%), from €74,141 to €119,991
- Purchases and services -€30,235
down €30,235 (-22.2%), from €136,268 to €106,033
- Staff costs -€4,170
down €4,170 (-6.1%), from €67,811 to €63,641
- Taxes +€3,300
up €3,300 (+330%), from €1,000 to €4,300
- Depreciation +€2,652
up €2,652 (+16.8%), from €15,743 to €18,396
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 | €132,012 | €167,830 | +€35,818 | +27.1% |
| Fixed assets | 21/28 | €60,742 | €81,505 | +€20,763 | +34.2% |
| Intangible fixed assets | 21 | €43,326 | €29,555 | -€13,771 | -31.8% |
| Tangible fixed assets | 22/27 | €17,242 | €51,775 | +€34,534 | +200% |
| Furniture and vehicles | 24 | €3,842 | €23,815 | +€19,973 | +520% |
| Other tangible fixed assets | 26 | €13,399 | €27,961 | +€14,561 | +109% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €71,270 | €86,325 | +€15,055 | +21.1% |
| Amounts receivable within one year | 40/41 | €17,942 | €26,073 | +€8,131 | +45.3% |
| Trade receivables | 40 | €15,505 | €23,635 | +€8,131 | +52.4% |
| Other amounts receivable | 41 | €2,438 | €2,438 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €52,033 | €58,631 | +€6,598 | +12.7% |
| Deferred charges and accrued income | 490/1 | €1,295 | €1,621 | +€326 | +25.1% |
| Total equity and liabilities | 10/49 | €132,012 | €167,830 | +€35,818 | +27.1% |
| Equity | 10/15 | €55,848 | €89,143 | +€33,295 | +59.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €30,000 | +€30,000 | |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | €54,848 | €58,143 | +€3,295 | +6.0% |
| Amounts payable | 17/49 | €76,164 | €78,687 | +€2,523 | +3.3% |
| Amounts payable within one year | 42/48 | €76,164 | €78,687 | +€2,523 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €2,902 | - | -€2,902 | |
| Trade debts | 44 | €4,760 | €14,758 | +€9,997 | +210% |
| Suppliers | 440/4 | €4,760 | €14,758 | +€9,997 | +210% |
| Taxes, remuneration and social security | 45 | €26,816 | €20,604 | -€6,212 | -23.2% |
| Taxes | 450/3 | €19,004 | €12,207 | -€6,796 | -35.8% |
| Remuneration and social security | 454/9 | €7,813 | €8,397 | +€584 | +7.5% |
| Other amounts payable | 47/48 | €41,686 | €43,325 | +€1,639 | +3.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €136,268 | €106,033 | -€30,235 | -22.2% |
| Remuneration, social security and pensions | 62 | €67,811 | €63,641 | -€4,170 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,743 | €18,396 | +€2,652 | +16.8% |
| Other operating charges | 640/8 | €316 | €66 | -€250 | -79.2% |
| Gross operating margin | 9900 | €74,141 | €119,991 | +€45,850 | +61.8% |
| Operating profit (loss) | 9901 | -€9,730 | €37,889 | +€47,618 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €375 | €293 | -€82 | -21.7% |
| Recurring financial charges | 65 | €375 | €293 | -€82 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,105 | €37,595 | +€47,700 | |
| Income taxes | 67/77 | €1,000 | €4,300 | +€3,300 | +330% |
| Profit (loss) for the period | 9904 | -€11,105 | €33,295 | +€44,400 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,105 | €33,295 | +€44,400 |
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 17 October 2026 via checked.be.