Ignace SEPULCHRE: 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.
Ignace SEPULCHRE
Largest movements
- Tangible fixed assets -€22,347
down €22,347 (-22.1%), from €101,147 to €78,800
of which Furniture and vehicles: -€20,727
- Cash +€8,201
up €8,201 (+14.0%), from €58,565 to €66,766
mainly Depreciation (+€22,941) and Net result for the year (+€9,226)
- Receivables within one year +€3,725
up €3,725 (+21.6%), from €17,261 to €20,985
of which Trade receivables: +€7,466
- Reserves +€27,230
up €27,230 (+369%), from €7,380 to €34,609
- Profit (loss) carried forward -€18,004
down €18,004 (-100%), from €18,004 to €0
- Debts after one year -€16,605
down €16,605 (-26.8%), from €61,867 to €45,263
- Tax, wage and social debts +€2,389
up €2,389 (+49.6%), from €4,813 to €7,202
of which Remuneration and social security: +€1,799
- Staff costs -€7,347
down €7,347 (-18.6%), from €39,498 to €32,151
- Gross operating margin +€6,316
up €6,316 (+9.3%), from €67,679 to €73,995
- Taxes +€4,202
up €4,202, from -€88 to €4,114
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 | €192,794 | €184,557 | -€8,237 | -4.3% |
| Fixed assets | 21/28 | €101,247 | €78,900 | -€22,347 | -22.1% |
| Tangible fixed assets | 22/27 | €101,147 | €78,800 | -€22,347 | -22.1% |
| Plant, machinery and equipment | 23 | €11,652 | €10,032 | -€1,620 | -13.9% |
| Furniture and vehicles | 24 | €89,495 | €68,769 | -€20,727 | -23.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €91,547 | €105,656 | +€14,109 | +15.4% |
| Stocks and contracts in progress | 3 | €15,672 | €17,038 | +€1,366 | +8.7% |
| Stocks | 30/36 | €15,672 | €17,038 | +€1,366 | +8.7% |
| Amounts receivable within one year | 40/41 | €17,261 | €20,985 | +€3,725 | +21.6% |
| Trade receivables | 40 | €2,450 | €9,916 | +€7,466 | +305% |
| Other amounts receivable | 41 | €14,810 | €11,070 | -€3,741 | -25.3% |
| Cash at bank and in hand | 54/58 | €58,565 | €66,766 | +€8,201 | +14.0% |
| Deferred charges and accrued income | 490/1 | €50 | €867 | +€818 | +1,649% |
| Total equity and liabilities | 10/49 | €192,794 | €184,557 | -€8,237 | -4.3% |
| Equity | 10/15 | €37,959 | €47,185 | +€9,226 | +24.3% |
| Contributions | 10/11 | €12,576 | €12,576 | = | 0.0% |
| Reserves | 13 | €7,380 | €34,609 | +€27,230 | +369% |
| Distributable reserves | 133 | €7,380 | €34,609 | +€27,230 | +369% |
| Profit (loss) carried forward | 14 | €18,004 | €0 | -€18,004 | -100% |
| Amounts payable | 17/49 | €154,835 | €137,371 | -€17,464 | -11.3% |
| Amounts payable after more than one year | 17 | €61,867 | €45,263 | -€16,605 | -26.8% |
| Financial debts | 170/4 | €61,867 | €45,263 | -€16,605 | -26.8% |
| Amounts payable within one year | 42/48 | €92,968 | €92,109 | -€859 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €21,270 | €19,402 | -€1,869 | -8.8% |
| Trade debts | 44 | €16,812 | €16,470 | -€343 | -2.0% |
| Suppliers | 440/4 | €16,812 | €16,470 | -€343 | -2.0% |
| Taxes, remuneration and social security | 45 | €4,813 | €7,202 | +€2,389 | +49.6% |
| Taxes | 450/3 | €1,410 | €2,000 | +€591 | +41.9% |
| Remuneration and social security | 454/9 | €3,403 | €5,202 | +€1,799 | +52.9% |
| Other amounts payable | 47/48 | €50,072 | €49,035 | -€1,037 | -2.1% |
| Remuneration, social security and pensions | 62 | €39,498 | €32,151 | -€7,347 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,399 | €22,941 | +€542 | +2.4% |
| Other operating charges | 640/8 | €2,607 | €2,859 | +€252 | +9.7% |
| Non-recurring operating charges | 66A | - | €132 | +€132 | |
| Gross operating margin | 9900 | €67,679 | €73,995 | +€6,316 | +9.3% |
| Operating profit (loss) | 9901 | €3,174 | €15,912 | +€12,738 | +401% |
| Financial income | 75/76B | €153 | €260 | +€107 | +70.2% |
| Recurring financial income | 75 | €153 | €260 | +€107 | +70.2% |
| Financial charges | 65/66B | €3,557 | €2,832 | -€725 | -20.4% |
| Recurring financial charges | 65 | €3,557 | €2,832 | -€725 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€230 | €13,340 | +€13,570 | |
| Income taxes | 67/77 | -€88 | €4,114 | +€4,202 | |
| Profit (loss) for the period | 9904 | -€141 | €9,226 | +€9,368 | |
| Profit (loss) for the period to be appropriated | 9905 | -€141 | €9,226 | +€9,368 |
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 16 October 2026 via checked.be.