SEGEST: 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.
SEGEST
Largest movements
- Tangible fixed assets -€5,815
down €5,815 (-9.9%), from €58,693 to €52,879
of which Land and buildings: -€3,505
- Cash -€5,688
down €5,688 (-16.6%), from €34,316 to €28,627
mainly Contributions, distributions and other (-€31,000) and Other debts (-€9,000)
- Receivables within one year +€3,216
up €3,216 (+8.7%), from €36,915 to €40,130
of which Trade receivables: +€1,816
- Other debts -€9,000
down €9,000 (-22.5%), from €40,000 to €31,000
- Gross operating margin -€13,238
down €13,238 (-21.3%), from €62,051 to €48,814
- Other operating charges -€3,435
down €3,435 (-53.0%), from €6,480 to €3,045
- Taxes -€2,374
down €2,374 (-22.0%), from €10,769 to €8,395
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,924 | €121,637 | -€8,287 | -6.4% |
| Fixed assets | 21/28 | €58,693 | €52,879 | -€5,815 | -9.9% |
| Tangible fixed assets | 22/27 | €58,693 | €52,879 | -€5,815 | -9.9% |
| Land and buildings | 22 | €39,450 | €35,945 | -€3,505 | -8.9% |
| Other tangible fixed assets | 26 | €19,243 | €16,934 | -€2,309 | -12.0% |
| Current assets | 29/58 | €71,230 | €68,758 | -€2,473 | -3.5% |
| Amounts receivable within one year | 40/41 | €36,915 | €40,130 | +€3,216 | +8.7% |
| Trade receivables | 40 | €33,915 | €35,730 | +€1,816 | +5.4% |
| Other amounts receivable | 41 | €3,000 | €4,400 | +€1,400 | +46.7% |
| Cash at bank and in hand | 54/58 | €34,316 | €28,627 | -€5,688 | -16.6% |
| Total equity and liabilities | 10/49 | €129,924 | €121,637 | -€8,287 | -6.4% |
| Equity | 10/15 | €89,924 | €90,139 | +€215 | +0.2% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,100 | €3,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,837 | €56,052 | +€215 | +0.4% |
| Amounts payable | 17/49 | €40,000 | €31,498 | -€8,502 | -21.3% |
| Amounts payable within one year | 42/48 | €40,000 | €31,498 | -€8,502 | -21.3% |
| Trade debts | 44 | - | €498 | +€498 | |
| Suppliers | 440/4 | - | €498 | +€498 | |
| Other amounts payable | 47/48 | €40,000 | €31,000 | -€9,000 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,430 | €5,815 | +€385 | +7.1% |
| Other operating charges | 640/8 | €6,480 | €3,045 | -€3,435 | -53.0% |
| Gross operating margin | 9900 | €62,051 | €48,814 | -€13,238 | -21.3% |
| Operating profit (loss) | 9901 | €50,142 | €39,955 | -€10,187 | -20.3% |
| Financial charges | 65/66B | €45 | €345 | +€300 | +666% |
| Recurring financial charges | 65 | €45 | €345 | +€300 | +666% |
| Profit (loss) for the period before taxes | 9903 | €50,097 | €39,610 | -€10,487 | -20.9% |
| Income taxes | 67/77 | €10,769 | €8,395 | -€2,374 | -22.0% |
| Profit (loss) for the period | 9904 | €39,328 | €31,215 | -€8,113 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,328 | €31,215 | -€8,113 | -20.6% |
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 20 October 2026 via checked.be.