Split The Sea: 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.
Split The Sea
Largest movements
- Receivables within one year +€23,615
up €23,615 (+78.6%), from €30,032 to €53,647
of which Trade receivables: +€19,647
- Cash -€15,250
down €15,250 (-62.5%), from €24,409 to €9,159
mainly Receivables within one year (-€23,615) and Investment in fixed assets (net) (-€9,103)
- Current investments +€4,841
up €4,841 (+154.9%), from €3,125 to €7,966
- Intangible fixed assets +€2,850
up €2,850 (+102.2%), from €2,790 to €5,640
- Tangible fixed assets -€1,790
down €1,790 (-6.5%), from €27,662 to €25,872
of which Plant, machinery and equipment: -€2,668
- Reserves +€18,136
up €18,136 (+31.5%), from €57,593 to €75,728
- Debts after one year -€5,404
down €5,404 (-100.0%), from €5,404 to €0
- Tax, wage and social debts +€1,482
up €1,482 (+21.8%), from €6,807 to €8,288
of which Remuneration and social security: +€2,432
- Gross operating margin +€9,490
up €9,490 (+36.0%), from €26,325 to €35,814
- Staff costs +€1,251
new in 2025: €1,251
- Depreciation +€1,084
up €1,084 (+15.6%), from €6,960 to €8,044
- Other operating charges +€903
up €903 (+435.9%), from €207 to €1,110
- Taxes -€551
down €551 (-7.5%), from €7,362 to €6,811
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 | €90,831 | €104,336 | +€13,506 | +14.9% |
| Fixed assets | 21/28 | €30,452 | €31,511 | +€1,059 | +3.5% |
| Intangible fixed assets | 21 | €2,790 | €5,640 | +€2,850 | +102.2% |
| Tangible fixed assets | 22/27 | €27,662 | €25,872 | -€1,790 | -6.5% |
| Plant, machinery and equipment | 23 | €16,230 | €13,562 | -€2,668 | -16.4% |
| Furniture and vehicles | 24 | €11,433 | €12,310 | +€878 | +7.7% |
| Current assets | 29/58 | €60,379 | €72,825 | +€12,446 | +20.6% |
| Amounts receivable within one year | 40/41 | €30,032 | €53,647 | +€23,615 | +78.6% |
| Trade receivables | 40 | €26,129 | €45,776 | +€19,647 | +75.2% |
| Other amounts receivable | 41 | €3,903 | €7,871 | +€3,968 | +101.7% |
| Current investments | 50/53 | €3,125 | €7,966 | +€4,841 | +154.9% |
| Cash at bank and in hand | 54/58 | €24,409 | €9,159 | -€15,250 | -62.5% |
| Deferred charges and accrued income | 490/1 | €2,813 | €2,053 | -€760 | -27.0% |
| Total equity and liabilities | 10/49 | €90,831 | €104,336 | +€13,506 | +14.9% |
| Equity | 10/15 | €58,593 | €76,728 | +€18,136 | +31.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,593 | €75,728 | +€18,136 | +31.5% |
| Distributable reserves | 133 | €57,593 | €75,728 | +€18,136 | +31.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,238 | €27,608 | -€4,630 | -14.4% |
| Amounts payable after more than one year | 17 | €5,404 | €0 | -€5,404 | -100.0% |
| Financial debts | 170/4 | €5,404 | €0 | -€5,404 | -100.0% |
| Amounts payable within one year | 42/48 | €26,834 | €27,608 | +€774 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €5,824 | €5,404 | -€419 | -7.2% |
| Trade debts | 44 | €14,204 | €13,916 | -€288 | -2.0% |
| Suppliers | 440/4 | €14,204 | €13,916 | -€288 | -2.0% |
| Taxes, remuneration and social security | 45 | €6,807 | €8,288 | +€1,482 | +21.8% |
| Taxes | 450/3 | €6,807 | €5,857 | -€950 | -14.0% |
| Remuneration and social security | 454/9 | - | €2,432 | +€2,432 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €1,251 | +€1,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,960 | €8,044 | +€1,084 | +15.6% |
| Other operating charges | 640/8 | €207 | €1,110 | +€903 | +435.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €26,325 | €35,814 | +€9,490 | +36.0% |
| Operating profit (loss) | 9901 | €19,158 | €25,409 | +€6,251 | +32.6% |
| Financial income | 75/76B | €57 | €258 | +€201 | +350.2% |
| Recurring financial income | 75 | €57 | €258 | +€201 | +350.2% |
| Financial charges | 65/66B | €1,015 | €721 | -€294 | -29.0% |
| Recurring financial charges | 65 | €1,015 | €721 | -€294 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €18,200 | €24,946 | +€6,746 | +37.1% |
| Income taxes | 67/77 | €7,362 | €6,811 | -€551 | -7.5% |
| Profit (loss) for the period | 9904 | €10,838 | €18,136 | +€7,297 | +67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,838 | €18,136 | +€7,297 | +67.3% |
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 9 October 2026 via checked.be.