SEN: what changed
SEN
Largest movements
- Receivables within one year +€9,109
up €9,109 (+27.8%), from €32,708 to €41,817
of which Other amounts receivable: +€6,209
- Cash +€5,351
up €5,351 (+772%), from €693 to €6,045
mainly Net result for the year (+€10,583) and Tax, wage and social debts (+€3,146)
- Reserves +€10,583
new in 2025: €10,583
- Tax, wage and social debts +€3,146
up €3,146 (+93.0%), from €3,383 to €6,529
- Trade debts +€2,790
up €2,790 (+89.2%), from €3,129 to €5,918
- Short-term financial debts -€2,059
no longer reported in 2025 (was €2,059)
- Gross operating margin +€11,399
up €11,399 (+188%), from €6,068 to €17,467
- Taxes +€4,028
up €4,028 (+537%), from €750 to €4,777
- Financial charges -€1,252
down €1,252 (-33.2%), from €3,768 to €2,515
- Other operating charges -€826
down €826 (-39.0%), from €2,116 to €1,290
- Financial income +€517
up €517 (+43.8%), from €1,182 to €1,699
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,401 | €47,861 | +€14,460 | +43.3% |
| Current assets | 29/58 | €33,401 | €47,861 | +€14,460 | +43.3% |
| Amounts receivable within one year | 40/41 | €32,708 | €41,817 | +€9,109 | +27.8% |
| Trade receivables | 40 | €7,700 | €10,600 | +€2,900 | +37.7% |
| Other amounts receivable | 41 | €25,008 | €31,217 | +€6,209 | +24.8% |
| Cash at bank and in hand | 54/58 | €693 | €6,045 | +€5,351 | +772% |
| Total equity and liabilities | 10/49 | €33,401 | €47,861 | +€14,460 | +43.3% |
| Equity | 10/15 | €24,830 | €35,414 | +€10,583 | +42.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €10,583 | +€10,583 | |
| Distributable reserves | 133 | - | €10,583 | +€10,583 | |
| Profit (loss) carried forward | 14 | €19,830 | €19,830 | = | 0.0% |
| Amounts payable | 17/49 | €8,571 | €12,448 | +€3,877 | +45.2% |
| Amounts payable within one year | 42/48 | €8,571 | €12,448 | +€3,877 | +45.2% |
| Financial debts | 43 | €2,059 | - | -€2,059 | |
| Credit institutions | 430/8 | €2,059 | - | -€2,059 | |
| Trade debts | 44 | €3,129 | €5,918 | +€2,790 | +89.2% |
| Suppliers | 440/4 | €3,129 | €5,918 | +€2,790 | +89.2% |
| Taxes, remuneration and social security | 45 | €3,383 | €6,529 | +€3,146 | +93.0% |
| Taxes | 450/3 | €3,383 | €6,529 | +€3,146 | +93.0% |
| Other operating charges | 640/8 | €2,116 | €1,290 | -€826 | -39.0% |
| Gross operating margin | 9900 | €6,068 | €17,467 | +€11,399 | +188% |
| Operating profit (loss) | 9901 | €3,952 | €16,177 | +€12,225 | +309% |
| Financial income | 75/76B | €1,182 | €1,699 | +€517 | +43.8% |
| Recurring financial income | 75 | €1,182 | €1,699 | +€517 | +43.8% |
| Financial charges | 65/66B | €3,768 | €2,515 | -€1,252 | -33.2% |
| Recurring financial charges | 65 | €3,768 | €2,515 | -€1,252 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €1,366 | €15,361 | +€13,995 | +1,024% |
| Income taxes | 67/77 | €750 | €4,777 | +€4,028 | +537% |
| Profit (loss) for the period | 9904 | €617 | €10,583 | +€9,967 | +1,616% |
| Profit (loss) for the period to be appropriated | 9905 | €617 | €10,583 | +€9,967 | +1,616% |
Next steps
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 1 November 2026 via checked.be.