SEDAT AKHATUN: 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.
SEDAT AKHATUN
Largest movements
- Stocks and contracts -€34,002
down €34,002 (-13.2%), from €258,291 to €224,289
- Receivables within one year +€15,718
up €15,718 (+69.4%), from €22,647 to €38,365
of which Trade receivables: +€10,214
- Cash -€13,763
down €13,763 (-40.3%), from €34,166 to €20,403
mainly Other debts (-€96,063) and Receivables within one year (-€15,718)
- Other debts -€96,063
down €96,063 (-30.4%), from €316,415 to €220,352
- Reserves +€42,433
new in 2025: €42,433
- Profit (loss) carried forward +€23,380
no longer reported in 2025 (was -€23,380)
- Tax, wage and social debts -€4,434
down €4,434 (-37.7%), from €11,756 to €7,323
of which Remuneration and social security: -€2,697
- Gross operating margin +€103,995
up €103,995 (+2,334%), from €4,456 to €108,451
- Staff costs -€13,975
down €13,975 (-31.1%), from €45,007 to €31,031
- Taxes +€6,383
new in 2025: €6,383
- Depreciation +€2,251
new in 2025: €2,251
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 | €317,855 | €283,557 | -€34,298 | -10.8% |
| Fixed assets | 21/28 | €2,751 | €500 | -€2,251 | -81.8% |
| Tangible fixed assets | 22/27 | €2,251 | - | -€2,251 | |
| Plant, machinery and equipment | 23 | €2,251 | - | -€2,251 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €315,105 | €283,057 | -€32,048 | -10.2% |
| Stocks and contracts in progress | 3 | €258,291 | €224,289 | -€34,002 | -13.2% |
| Stocks | 30/36 | €258,291 | €224,289 | -€34,002 | -13.2% |
| Amounts receivable within one year | 40/41 | €22,647 | €38,365 | +€15,718 | +69.4% |
| Trade receivables | 40 | €18,905 | €29,120 | +€10,214 | +54.0% |
| Other amounts receivable | 41 | €3,742 | €9,245 | +€5,504 | +147% |
| Cash at bank and in hand | 54/58 | €34,166 | €20,403 | -€13,763 | -40.3% |
| Total equity and liabilities | 10/49 | €317,855 | €283,557 | -€34,298 | -10.8% |
| Equity | 10/15 | -€17,180 | €48,633 | +€65,813 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €42,433 | +€42,433 | |
| Distributable reserves | 133 | - | €42,433 | +€42,433 | |
| Profit (loss) carried forward | 14 | -€23,380 | - | +€23,380 | |
| Amounts payable | 17/49 | €335,036 | €234,924 | -€100,111 | -29.9% |
| Amounts payable within one year | 42/48 | €334,307 | €234,195 | -€100,111 | -29.9% |
| Financial debts | 43 | €2,127 | €2,367 | +€241 | +11.3% |
| Credit institutions | 430/8 | €2,127 | €2,367 | +€241 | +11.3% |
| Trade debts | 44 | €4,009 | €4,154 | +€145 | +3.6% |
| Suppliers | 440/4 | €4,009 | €4,154 | +€145 | +3.6% |
| Taxes, remuneration and social security | 45 | €11,756 | €7,323 | -€4,434 | -37.7% |
| Taxes | 450/3 | €8,140 | €6,404 | -€1,736 | -21.3% |
| Remuneration and social security | 454/9 | €3,616 | €919 | -€2,697 | -74.6% |
| Other amounts payable | 47/48 | €316,415 | €220,352 | -€96,063 | -30.4% |
| Accrued charges and deferred income | 492/3 | €729 | €729 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €45,007 | €31,031 | -€13,975 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,251 | +€2,251 | |
| Other operating charges | 640/8 | €2,631 | €2,785 | +€154 | +5.9% |
| Gross operating margin | 9900 | €4,456 | €108,451 | +€103,995 | +2,334% |
| Operating profit (loss) | 9901 | -€43,181 | €72,384 | +€115,565 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €259 | €188 | -€72 | -27.7% |
| Recurring financial charges | 65 | €259 | €188 | -€72 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€43,437 | €72,196 | +€115,634 | |
| Income taxes | 67/77 | - | €6,383 | +€6,383 | |
| Profit (loss) for the period | 9904 | -€43,437 | €65,813 | +€109,250 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,437 | €65,813 | +€109,250 |
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.