SSED: what changed
What changed
SSED
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€30,215
2024 · €28,193-€58,409
Equity
€30,980
2024 · €61,195-€30,215
Cash
€1,544
2024 · €1,344+€200
Balance sheet total
€179,981
2024 · €191,368-€11,387
Largest movements
Assets
- Tangible fixed assets -€27,179
down €27,179 (-14.4%), from €188,201 to €161,023
- Receivables within one year +€15,567
up €15,567 (+1,132%), from €1,376 to €16,943
of which Trade receivables: +€10,692
Equity and liabilities
- Trade debts +€30,359
up €30,359 (+3,656%), from €830 to €31,189
- Profit (loss) carried forward -€30,215
new in 2025: -€30,215
- Other debts -€9,111
down €9,111 (-8.2%), from €111,358 to €102,246
- Tax, wage and social debts -€2,405
down €2,405 (-13.4%), from €17,970 to €15,565
Income statement
- Gross operating margin -€73,623
down €73,623, from €73,018 to -€605
- Taxes -€15,565
down €15,565 (-100%), from €15,565 to €0
- Depreciation -€3,629
down €3,629 (-13.3%), from €27,380 to €23,750
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€28,193
Gross operating margin
-€73,623
Depreciation
+€3,629
Other operating charges
+€142
Other operating items
-€4,035
Financial charges
-€86
Taxes
+€15,565
Result 2025
-€30,215
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3,213
Investment
+€3,428
Financing
-€15
Cash 2024
€1,344
From operations (derived)
-€3,213
Net result for the year
-€30,215
Depreciation
+€23,750
Receivables within one year
-€15,567
Deferred charges and accrued income
-€24
Trade debts
+€30,359
Tax, wage and social debts
-€2,405
Other debts
-€9,111
Investment (derived)
+€3,428
Investment in fixed assets (net)
+€3,428
Financing
-€15
Short-term financial debts
-€15
Cash 2025
€1,544
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,368 | €179,981 | -€11,387 | -6.0% |
| Fixed assets | 21/28 | €188,201 | €161,023 | -€27,179 | -14.4% |
| Tangible fixed assets | 22/27 | €188,201 | €161,023 | -€27,179 | -14.4% |
| Plant, machinery and equipment | 23 | €7,176 | €1,445 | -€5,731 | -79.9% |
| Furniture and vehicles | 24 | €20,543 | €10,458 | -€10,085 | -49.1% |
| Leasing and similar rights | 25 | €160,483 | €149,120 | -€11,363 | -7.1% |
| Current assets | 29/58 | €3,167 | €18,959 | +€15,792 | +499% |
| Amounts receivable within one year | 40/41 | €1,376 | €16,943 | +€15,567 | +1,132% |
| Trade receivables | 40 | €1,309 | €12,000 | +€10,692 | +817% |
| Other amounts receivable | 41 | €67 | €4,943 | +€4,876 | +7,244% |
| Cash at bank and in hand | 54/58 | €1,344 | €1,544 | +€200 | +14.9% |
| Deferred charges and accrued income | 490/1 | €447 | €471 | +€24 | +5.5% |
| Total equity and liabilities | 10/49 | €191,368 | €179,981 | -€11,387 | -6.0% |
| Equity | 10/15 | €61,195 | €30,980 | -€30,215 | -49.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €59,195 | €59,195 | = | 0.0% |
| Distributable reserves | 133 | €59,195 | €59,195 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€30,215 | -€30,215 | |
| Amounts payable | 17/49 | €130,173 | €149,001 | +€18,828 | +14.5% |
| Amounts payable within one year | 42/48 | €130,173 | €149,001 | +€18,828 | +14.5% |
| Financial debts | 43 | €15 | €0 | -€15 | -100% |
| Credit institutions | 430/8 | €15 | €0 | -€15 | -100% |
| Trade debts | 44 | €830 | €31,189 | +€30,359 | +3,656% |
| Suppliers | 440/4 | €830 | €31,189 | +€30,359 | +3,656% |
| Taxes, remuneration and social security | 45 | €17,970 | €15,565 | -€2,405 | -13.4% |
| Taxes | 450/3 | €17,970 | €15,565 | -€2,405 | -13.4% |
| Other amounts payable | 47/48 | €111,358 | €102,246 | -€9,111 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,380 | €23,750 | -€3,629 | -13.3% |
| Other operating charges | 640/8 | €643 | €501 | -€142 | -22.0% |
| Non-recurring operating charges | 66A | €1,043 | €5,078 | +€4,035 | +387% |
| Gross operating margin | 9900 | €73,018 | -€605 | -€73,623 | |
| Operating profit (loss) | 9901 | €43,952 | -€29,936 | -€73,888 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €194 | €280 | +€86 | +44.5% |
| Recurring financial charges | 65 | €194 | €280 | +€86 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €43,759 | -€30,215 | -€73,974 | |
| Income taxes | 67/77 | €15,565 | €0 | -€15,565 | -100% |
| Profit (loss) for the period | 9904 | €28,193 | -€30,215 | -€58,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,193 | -€30,215 | -€58,409 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.