SEFERZ: 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.
SEFERZ
Largest movements
- Receivables within one year +€71,298
up €71,298 (+669%), from €10,663 to €81,961
of which Other amounts receivable: +€66,251
- Tangible fixed assets -€39,454
down €39,454 (-37.3%), from €105,833 to €66,379
of which Leasing and similar rights: -€24,518
- Cash -€4,300
down €4,300 (-11.7%), from €36,887 to €32,587
mainly Receivables within one year (-€71,298) and Current portion of long-term debt (-€30,438)
- Profit (loss) carried forward +€37,200
up €37,200 (+94.6%), from -€39,306 to -€2,107
- Current portion of long-term debt -€30,438
down €30,438 (-52.1%), from €58,417 to €27,978
- Trade debts -€27,811
down €27,811 (-48.7%), from €57,102 to €29,292
- Accrued charges and deferred income +€23,862
new in 2023: €23,862
- Short-term financial debts +€16,669
new in 2023: €16,669
- Staff costs -€45,087
down €45,087 (-60.6%), from €74,411 to €29,324
- Gross operating margin +€37,938
up €37,938 (+40.4%), from €93,925 to €131,864
- Depreciation -€17,772
down €17,772 (-45.5%), from €39,053 to €21,280
- Other operating charges -€2,897
down €2,897 (-61.0%), from €4,752 to €1,854
- Taxes +€2,432
up €2,432 (+1,103%), from €221 to €2,653
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,143 | €182,687 | +€27,544 | +17.8% |
| Fixed assets | 21/28 | €107,593 | €68,139 | -€39,454 | -36.7% |
| Tangible fixed assets | 22/27 | €105,833 | €66,379 | -€39,454 | -37.3% |
| Furniture and vehicles | 24 | €34,433 | €19,496 | -€14,937 | -43.4% |
| Leasing and similar rights | 25 | €71,400 | €46,882 | -€24,518 | -34.3% |
| Financial fixed assets | 28 | €1,760 | €1,760 | = | 0.0% |
| Current assets | 29/58 | €47,550 | €114,549 | +€66,998 | +141% |
| Amounts receivable within one year | 40/41 | €10,663 | €81,961 | +€71,298 | +669% |
| Trade receivables | 40 | €9,393 | €14,439 | +€5,047 | +53.7% |
| Other amounts receivable | 41 | €1,270 | €67,522 | +€66,251 | +5,215% |
| Cash at bank and in hand | 54/58 | €36,887 | €32,587 | -€4,300 | -11.7% |
| Total equity and liabilities | 10/49 | €155,143 | €182,687 | +€27,544 | +17.8% |
| Equity | 10/15 | -€18,846 | €18,353 | +€37,200 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,306 | -€2,107 | +€37,200 | +94.6% |
| Amounts payable | 17/49 | €173,990 | €164,334 | -€9,656 | -5.5% |
| Amounts payable after more than one year | 17 | €34,438 | €45,654 | +€11,216 | +32.6% |
| Financial debts | 170/4 | €34,438 | €45,654 | +€11,216 | +32.6% |
| Amounts payable within one year | 42/48 | €139,552 | €94,818 | -€44,734 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €58,417 | €27,978 | -€30,438 | -52.1% |
| Financial debts | 43 | - | €16,669 | +€16,669 | |
| Credit institutions | 430/8 | - | €16,669 | +€16,669 | |
| Trade debts | 44 | €57,102 | €29,292 | -€27,811 | -48.7% |
| Suppliers | 440/4 | €57,102 | €29,292 | -€27,811 | -48.7% |
| Advances received on contracts in progress | 46 | €6,563 | €12,669 | +€6,107 | +93.1% |
| Taxes, remuneration and social security | 45 | €6,705 | €8,210 | +€1,505 | +22.4% |
| Taxes | 450/3 | €2,087 | €2,652 | +€565 | +27.1% |
| Remuneration and social security | 454/9 | €4,618 | €5,558 | +€939 | +20.3% |
| Other amounts payable | 47/48 | €10,765 | - | -€10,765 | |
| Accrued charges and deferred income | 492/3 | - | €23,862 | +€23,862 | |
| Non-recurring operating income | 76A | €11,859 | €19,114 | +€7,255 | +61.2% |
| Remuneration, social security and pensions | 62 | €74,411 | €29,324 | -€45,087 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,053 | €21,280 | -€17,772 | -45.5% |
| Other operating charges | 640/8 | €4,752 | €1,854 | -€2,897 | -61.0% |
| Non-recurring operating charges | 66A | - | €33,158 | +€33,158 | |
| Gross operating margin | 9900 | €93,925 | €131,864 | +€37,938 | +40.4% |
| Operating profit (loss) | 9901 | -€24,290 | €46,247 | +€70,537 | |
| Financial income | 75/76B | - | €2,258 | +€2,258 | |
| Recurring financial income | 75 | - | €2,258 | +€2,258 | |
| Financial charges | 65/66B | €10,708 | €8,652 | -€2,055 | -19.2% |
| Recurring financial charges | 65 | €10,708 | €8,652 | -€2,055 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€34,998 | €39,852 | +€74,850 | |
| Income taxes | 67/77 | €221 | €2,653 | +€2,432 | +1,103% |
| Profit (loss) for the period | 9904 | -€35,218 | €37,200 | +€72,418 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,218 | €37,200 | +€72,418 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.