SEYNAEVE: 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.
SEYNAEVE
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€397,388
up €397,388 (+86.4%), from €460,064 to €857,452
mainly Current investments (+€400,000) and Net result for the year (+€165,688)
- Tangible fixed assets +€93,676
up €93,676 (+13.4%), from €699,362 to €793,038
of which Plant, machinery and equipment: +€126,912
- Profit (loss) carried forward +€132,688
up €132,688 (+16.5%), from €804,942 to €937,630
- Accrued charges and deferred income -€18,714
down €18,714 (-65.7%), from €28,497 to €9,783
- Current portion of long-term debt +€17,819
up €17,819 (+27.3%), from €65,375 to €83,194
- Gross operating margin -€34,345
down €34,345 (-3.7%), from €937,221 to €902,875
- Staff costs -€27,746
down €27,746 (-5.1%), from €541,901 to €514,156
- Depreciation +€21,604
up €21,604 (+23.5%), from €91,835 to €113,439
- Taxes -€12,586
down €12,586 (-14.6%), from €86,448 to €73,862
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 | €1,623,867 | €1,728,130 | +€104,263 | +6.4% |
| Fixed assets | 21/28 | €699,362 | €793,038 | +€93,676 | +13.4% |
| Tangible fixed assets | 22/27 | €699,362 | €793,038 | +€93,676 | +13.4% |
| Land and buildings | 22 | €569,495 | €523,895 | -€45,600 | -8.0% |
| Plant, machinery and equipment | 23 | €78,736 | €205,648 | +€126,912 | +161.2% |
| Furniture and vehicles | 24 | €4,745 | €28,867 | +€24,122 | +508.3% |
| Leasing and similar rights | 25 | €46,386 | €34,628 | -€11,757 | -25.3% |
| Current assets | 29/58 | €924,506 | €935,092 | +€10,587 | +1.1% |
| Stocks and contracts in progress | 3 | €40,848 | €44,937 | +€4,089 | +10.0% |
| Stocks | 30/36 | €40,848 | €44,937 | +€4,089 | +10.0% |
| Amounts receivable within one year | 40/41 | €12,088 | €20,473 | +€8,385 | +69.4% |
| Trade receivables | 40 | €10,615 | €11,561 | +€946 | +8.9% |
| Other amounts receivable | 41 | €1,473 | €8,912 | +€7,439 | +505.1% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €460,064 | €857,452 | +€397,388 | +86.4% |
| Deferred charges and accrued income | 490/1 | €11,505 | €12,230 | +€724 | +6.3% |
| Total equity and liabilities | 10/49 | €1,623,867 | €1,728,130 | +€104,263 | +6.4% |
| Equity | 10/15 | €924,403 | €1,057,091 | +€132,688 | +14.4% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Reserves | 13 | €40,861 | €40,861 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €22,111 | €22,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | €804,942 | €937,630 | +€132,688 | +16.5% |
| Amounts payable | 17/49 | €699,464 | €671,040 | -€28,425 | -4.1% |
| Amounts payable after more than one year | 17 | €384,081 | €379,318 | -€4,763 | -1.2% |
| Financial debts | 170/4 | €384,081 | €379,318 | -€4,763 | -1.2% |
| Amounts payable within one year | 42/48 | €286,886 | €281,939 | -€4,947 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €65,375 | €83,194 | +€17,819 | +27.3% |
| Trade debts | 44 | €95,552 | €89,882 | -€5,671 | -5.9% |
| Suppliers | 440/4 | €95,552 | €89,882 | -€5,671 | -5.9% |
| Taxes, remuneration and social security | 45 | €102,324 | €86,729 | -€15,595 | -15.2% |
| Taxes | 450/3 | €49,803 | €39,710 | -€10,093 | -20.3% |
| Remuneration and social security | 454/9 | €52,521 | €47,019 | -€5,502 | -10.5% |
| Other amounts payable | 47/48 | €23,635 | €22,134 | -€1,501 | -6.4% |
| Accrued charges and deferred income | 492/3 | €28,497 | €9,783 | -€18,714 | -65.7% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €541,901 | €514,156 | -€27,746 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,835 | €113,439 | +€21,604 | +23.5% |
| Other operating charges | 640/8 | €14,763 | €14,382 | -€381 | -2.6% |
| Gross operating margin | 9900 | €937,221 | €902,875 | -€34,345 | -3.7% |
| Operating profit (loss) | 9901 | €288,722 | €260,899 | -€27,823 | -9.6% |
| Financial income | 75/76B | €14,969 | €11,854 | -€3,115 | -20.8% |
| Recurring financial income | 75 | €14,969 | €11,854 | -€3,115 | -20.8% |
| Financial charges | 65/66B | €33,692 | €33,203 | -€489 | -1.5% |
| Recurring financial charges | 65 | €33,692 | €33,203 | -€489 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €269,999 | €239,549 | -€30,449 | -11.3% |
| Income taxes | 67/77 | €86,448 | €73,862 | -€12,586 | -14.6% |
| Profit (loss) for the period | 9904 | €183,551 | €165,688 | -€17,863 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,551 | €165,688 | -€17,863 | -9.7% |
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 5 October 2026 via checked.be.