SEYS BERT: 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.
SEYS BERT
Largest movements
- Cash +€130,761
up €130,761 (+47.3%), from €276,418 to €407,179
mainly Debts after one year (+€379,208) and Net result for the year (+€145,414)
- Tangible fixed assets +€46,654
up €46,654 (+49.1%), from €95,035 to €141,689
of which Furniture and vehicles: +€42,861
- Receivables within one year -€19,635
down €19,635 (-6.1%), from €322,922 to €303,287
of which Trade receivables: -€23,961
- Stocks and contracts +€10,019
up €10,019 (+18.2%), from €54,971 to €64,990
- Debts after one year +€379,208
new in 2025: €379,208
- Other debts -€287,757
down €287,757 (-74.2%), from €387,757 to €100,000
- Reserves +€45,414
up €45,414 (+13.5%), from €337,579 to €382,994
of which Distributable reserves: +€45,414
- Trade debts +€29,402
up €29,402 (+191.0%), from €15,393 to €44,795
- Gross operating margin -€33,957
down €33,957 (-10.2%), from €331,428 to €297,472
- Taxes -€13,458
down €13,458 (-24.8%), from €54,256 to €40,798
- Financial charges +€12,804
up €12,804 (+122.7%), from €10,436 to €23,240
- Financial income +€4,620
up €4,620 (+268.9%), from €1,718 to €6,338
- Staff costs +€4,309
up €4,309 (+7.5%), from €57,579 to €61,889
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 | €793,462 | €958,978 | +€165,516 | +20.9% |
| Fixed assets | 21/28 | €95,335 | €141,989 | +€46,654 | +48.9% |
| Tangible fixed assets | 22/27 | €95,035 | €141,689 | +€46,654 | +49.1% |
| Land and buildings | 22 | €16,961 | €14,585 | -€2,377 | -14.0% |
| Plant, machinery and equipment | 23 | €29,099 | €35,269 | +€6,170 | +21.2% |
| Furniture and vehicles | 24 | €48,975 | €91,836 | +€42,861 | +87.5% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €698,127 | €816,989 | +€118,862 | +17.0% |
| Stocks and contracts in progress | 3 | €54,971 | €64,990 | +€10,019 | +18.2% |
| Stocks | 30/36 | €54,971 | €64,990 | +€10,019 | +18.2% |
| Amounts receivable within one year | 40/41 | €322,922 | €303,287 | -€19,635 | -6.1% |
| Trade receivables | 40 | €316,753 | €292,792 | -€23,961 | -7.6% |
| Other amounts receivable | 41 | €6,169 | €10,495 | +€4,326 | +70.1% |
| Current investments | 50/53 | €39,735 | €38,138 | -€1,597 | -4.0% |
| Cash at bank and in hand | 54/58 | €276,418 | €407,179 | +€130,761 | +47.3% |
| Deferred charges and accrued income | 490/1 | €4,082 | €3,395 | -€687 | -16.8% |
| Total equity and liabilities | 10/49 | €793,462 | €958,978 | +€165,516 | +20.9% |
| Equity | 10/15 | €356,179 | €401,594 | +€45,414 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €337,579 | €382,994 | +€45,414 | +13.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €335,719 | €381,134 | +€45,414 | +13.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €437,283 | €557,384 | +€120,102 | +27.5% |
| Amounts payable after more than one year | 17 | - | €379,208 | +€379,208 | |
| Other amounts payable | 178/9 | - | €379,208 | +€379,208 | |
| Amounts payable within one year | 42/48 | €417,784 | €157,229 | -€260,555 | -62.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €15,393 | €44,795 | +€29,402 | +191.0% |
| Suppliers | 440/4 | €15,393 | €44,795 | +€29,402 | +191.0% |
| Taxes, remuneration and social security | 45 | €14,633 | €12,434 | -€2,200 | -15.0% |
| Taxes | 450/3 | €8,835 | €6,293 | -€2,543 | -28.8% |
| Remuneration and social security | 454/9 | €5,798 | €6,141 | +€343 | +5.9% |
| Other amounts payable | 47/48 | €387,757 | €100,000 | -€287,757 | -74.2% |
| Accrued charges and deferred income | 492/3 | €19,499 | €20,947 | +€1,449 | +7.4% |
| Remuneration, social security and pensions | 62 | €57,579 | €61,889 | +€4,309 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,525 | €30,892 | +€3,367 | +12.2% |
| Other operating charges | 640/8 | €1,771 | €1,576 | -€195 | -11.0% |
| Gross operating margin | 9900 | €331,428 | €297,472 | -€33,957 | -10.2% |
| Operating profit (loss) | 9901 | €244,553 | €203,114 | -€41,439 | -16.9% |
| Financial income | 75/76B | €1,718 | €6,338 | +€4,620 | +268.9% |
| Recurring financial income | 75 | €1,718 | €6,338 | +€4,620 | +268.9% |
| Financial charges | 65/66B | €10,436 | €23,240 | +€12,804 | +122.7% |
| Recurring financial charges | 65 | €10,436 | €23,240 | +€12,804 | +122.7% |
| Profit (loss) for the period before taxes | 9903 | €235,835 | €186,213 | -€49,622 | -21.0% |
| Income taxes | 67/77 | €54,256 | €40,798 | -€13,458 | -24.8% |
| Profit (loss) for the period | 9904 | €181,579 | €145,414 | -€36,164 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €181,579 | €145,414 | -€36,164 | -19.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.