Sezers: 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.
Sezers
Largest movements
- Cash -€25,793
down €25,793 (-38.0%), from €67,964 to €42,171
mainly Trade debts (-€38,089) and Other debts (-€13,214)
- Deferred charges and accrued income +€12,408
up €12,408 (+85047.0%), from €15 to €12,423
- Receivables within one year -€7,820
down €7,820 (-12.2%), from €63,891 to €56,071
of which Other amounts receivable: -€12,158
- Trade debts -€38,089
down €38,089 (-99.5%), from €38,268 to €180
- Profit (loss) carried forward +€28,692
up €28,692 (+79.6%), from -€36,027 to -€7,334
- Other debts -€13,214
down €13,214 (-3.1%), from €432,792 to €419,578
- Gross operating margin +€44,609
up €44,609 (+177.9%), from €25,071 to €69,680
- Taxes +€19,329
up €19,329 (+158.6%), from €12,189 to €31,519
- Staff costs +€1,083
up €1,083 (+17.1%), from €6,340 to €7,424
- Other operating charges -€949
down €949 (-48.4%), from €1,960 to €1,011
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 | €596,971 | €577,167 | -€19,804 | -3.3% |
| Fixed assets | 21/28 | €474 | €167 | -€307 | -64.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €474 | €167 | -€307 | -64.7% |
| Plant, machinery and equipment | 23 | €474 | €167 | -€307 | -64.7% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €596,498 | €577,000 | -€19,497 | -3.3% |
| Stocks and contracts in progress | 3 | €464,628 | €466,335 | +€1,707 | +0.4% |
| Stocks | 30/36 | €464,628 | €466,335 | +€1,707 | +0.4% |
| Amounts receivable within one year | 40/41 | €63,891 | €56,071 | -€7,820 | -12.2% |
| Trade receivables | 40 | €49,959 | €54,297 | +€4,338 | +8.7% |
| Other amounts receivable | 41 | €13,932 | €1,774 | -€12,158 | -87.3% |
| Cash at bank and in hand | 54/58 | €67,964 | €42,171 | -€25,793 | -38.0% |
| Deferred charges and accrued income | 490/1 | €15 | €12,423 | +€12,408 | +85047.0% |
| Total equity and liabilities | 10/49 | €596,971 | €577,167 | -€19,804 | -3.3% |
| Equity | 10/15 | -€29,827 | -€1,134 | +€28,692 | +96.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,027 | -€7,334 | +€28,692 | +79.6% |
| Amounts payable | 17/49 | €626,798 | €578,302 | -€48,497 | -7.7% |
| Amounts payable after more than one year | 17 | €140,000 | €140,000 | = | 0.0% |
| Financial debts | 170/4 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €486,798 | €438,302 | -€48,497 | -10.0% |
| Trade debts | 44 | €38,268 | €180 | -€38,089 | -99.5% |
| Suppliers | 440/4 | €38,268 | €180 | -€38,089 | -99.5% |
| Taxes, remuneration and social security | 45 | €15,738 | €18,544 | +€2,806 | +17.8% |
| Taxes | 450/3 | €14,555 | €17,183 | +€2,628 | +18.1% |
| Remuneration and social security | 454/9 | €1,183 | €1,361 | +€178 | +15.0% |
| Other amounts payable | 47/48 | €432,792 | €419,578 | -€13,214 | -3.1% |
| Remuneration, social security and pensions | 62 | €6,340 | €7,424 | +€1,083 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €332 | €307 | -€25 | -7.5% |
| Other operating charges | 640/8 | €1,960 | €1,011 | -€949 | -48.4% |
| Gross operating margin | 9900 | €25,071 | €69,680 | +€44,609 | +177.9% |
| Operating profit (loss) | 9901 | €16,439 | €60,938 | +€44,499 | +270.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €480 | €727 | +€247 | +51.4% |
| Recurring financial charges | 65 | €480 | €727 | +€247 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €15,959 | €60,211 | +€44,252 | +277.3% |
| Income taxes | 67/77 | €12,189 | €31,519 | +€19,329 | +158.6% |
| Profit (loss) for the period | 9904 | €3,770 | €28,692 | +€24,922 | +661.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,770 | €28,692 | +€24,922 | +661.1% |
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.