Steven Segers: 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.
What changed
Steven Segers
NACE 47.830, Retail sale of motorcycles and motorcycle parts and accessories
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€6,219
2024 · €161,116-€167,335
Equity
€498,292
2024 · €504,511-€6,219
Cash
€13,699
2024 · €2,661+€11,039
Balance sheet total
€1.3m
2024 · €1.4m-€122,319
Largest movements
Assets
- Stocks and contracts -€94,292
down €94,292 (-15.0%), from €627,517 to €533,224
- Tangible fixed assets -€32,821
down €32,821 (-4.3%), from €757,856 to €725,034
of which Land and buildings: -€22,367
Equity and liabilities
- Other debts -€38,110
down €38,110 (-21.3%), from €179,210 to €141,100
- Debts after one year -€36,242
down €36,242 (-6.4%), from €567,358 to €531,115
Income statement
- Gross operating margin -€263,830
down €263,830 (-81.8%), from €322,398 to €58,568
- Taxes -€33,071
down €33,071 (-92.2%), from €35,854 to €2,783
- Financial charges -€28,702
down €28,702 (-68.3%), from €42,048 to €13,346
- Financial income +€3,516
up €3,516 (+111%), from €3,162 to €6,677
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.
Result 2024
€161,116
Gross operating margin
-€263,830
Depreciation
+€2,615
Other operating charges
-€623
Financial income
+€3,516
Financial charges
+€28,702
Taxes
+€33,071
Deferred taxes and other
+€29,214
Result 2025
-€6,219
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€72,151
Investment
-€15,500
Financing
-€45,612
Cash 2024
€2,661
From operations (derived)
+€72,151
Net result for the year
-€6,219
Depreciation
+€53,905
Stocks and contracts
+€94,292
Receivables within one year
-€1,465
Deferred charges and accrued income
+€2,125
Provisions
-€2,709
Trade debts
-€12,379
Tax, wage and social debts
-€3,266
Advances received
-€14,023
Other debts
-€38,110
Investment (derived)
-€15,500
Investment in fixed assets (net)
-€20,500
Current investments
+€5,000
Financing
-€45,612
Debts after one year
-€36,242
Current portion of long-term debt
-€7,889
Short-term financial debts
-€1,481
Cash 2025
€13,699
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,449,995 | €1,327,677 | -€122,319 | -8.4% |
| Fixed assets | 21/28 | €758,544 | €725,140 | -€33,405 | -4.4% |
| Intangible fixed assets | 21 | €689 | €105 | -€583 | -84.7% |
| Tangible fixed assets | 22/27 | €757,856 | €725,034 | -€32,821 | -4.3% |
| Land and buildings | 22 | €690,076 | €667,708 | -€22,367 | -3.2% |
| Plant, machinery and equipment | 23 | €65,583 | €55,434 | -€10,149 | -15.5% |
| Furniture and vehicles | 24 | €2,197 | €1,892 | -€305 | -13.9% |
| Current assets | 29/58 | €691,451 | €602,537 | -€88,914 | -12.9% |
| Stocks and contracts in progress | 3 | €627,517 | €533,224 | -€94,292 | -15.0% |
| Stocks | 30/36 | €627,517 | €533,224 | -€94,292 | -15.0% |
| Amounts receivable within one year | 40/41 | €30,911 | €32,376 | +€1,465 | +4.7% |
| Trade receivables | 40 | €30,749 | €31,083 | +€333 | +1.1% |
| Other amounts receivable | 41 | €162 | €1,293 | +€1,131 | +698% |
| Current investments | 50/53 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €2,661 | €13,699 | +€11,039 | +415% |
| Deferred charges and accrued income | 490/1 | €20,362 | €18,237 | -€2,125 | -10.4% |
| Total equity and liabilities | 10/49 | €1,449,995 | €1,327,677 | -€122,319 | -8.4% |
| Equity | 10/15 | €504,511 | €498,292 | -€6,219 | -1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €167,504 | €161,276 | -€6,228 | -3.7% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,515 | €71,387 | -€8,128 | -10.2% |
| Distributable reserves | 133 | €86,749 | €88,649 | +€1,900 | +2.2% |
| Profit (loss) carried forward | 14 | €324,607 | €324,616 | +€9 | 0.0% |
| Provisions and deferred taxes | 16 | €26,505 | €23,796 | -€2,709 | -10.2% |
| Deferred taxes | 168 | €26,505 | €23,796 | -€2,709 | -10.2% |
| Amounts payable | 17/49 | €918,979 | €805,588 | -€113,390 | -12.3% |
| Amounts payable after more than one year | 17 | €567,358 | €531,115 | -€36,242 | -6.4% |
| Financial debts | 170/4 | €567,358 | €531,115 | -€36,242 | -6.4% |
| Amounts payable within one year | 42/48 | €351,621 | €274,473 | -€77,148 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €44,131 | €36,242 | -€7,889 | -17.9% |
| Financial debts | 43 | €1,955 | €474 | -€1,481 | -75.8% |
| Credit institutions | 430/8 | €1,955 | €474 | -€1,481 | -75.8% |
| Trade debts | 44 | €45,801 | €33,422 | -€12,379 | -27.0% |
| Suppliers | 440/4 | €45,801 | €33,422 | -€12,379 | -27.0% |
| Advances received on contracts in progress | 46 | €14,545 | €522 | -€14,023 | -96.4% |
| Taxes, remuneration and social security | 45 | €65,979 | €62,713 | -€3,266 | -5.0% |
| Taxes | 450/3 | €65,979 | €62,713 | -€3,266 | -5.0% |
| Other amounts payable | 47/48 | €179,210 | €141,100 | -€38,110 | -21.3% |
| Non-recurring operating income | 76A | €134,788 | - | -€134,788 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,520 | €53,905 | -€2,615 | -4.6% |
| Other operating charges | 640/8 | €3,517 | €4,140 | +€623 | +17.7% |
| Gross operating margin | 9900 | €322,398 | €58,568 | -€263,830 | -81.8% |
| Operating profit (loss) | 9901 | €262,361 | €523 | -€261,837 | -99.8% |
| Financial income | 75/76B | €3,162 | €6,677 | +€3,516 | +111% |
| Recurring financial income | 75 | €3,162 | €6,677 | +€3,516 | +111% |
| Financial charges | 65/66B | €42,048 | €13,346 | -€28,702 | -68.3% |
| Recurring financial charges | 65 | €42,048 | €13,346 | -€28,702 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | €223,474 | -€6,145 | -€229,620 | |
| Transfer from deferred taxes | 780 | €7,192 | €2,709 | -€4,483 | -62.3% |
| Transfer to deferred taxes | 680 | €33,697 | - | -€33,697 | |
| Income taxes | 67/77 | €35,854 | €2,783 | -€33,071 | -92.2% |
| Profit (loss) for the period | 9904 | €161,116 | -€6,219 | -€167,335 | |
| Transfer from tax-exempt reserves | 789 | €21,576 | €8,128 | -€13,448 | -62.3% |
| Transfer to tax-exempt reserves | 689 | €101,091 | - | -€101,091 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,600 | €1,909 | -€79,691 | -97.7% |
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 13 October 2026 via checked.be.