SEJEPY IMMO: what changed
What changed
SEJEPY IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€54,066
2024 · -€80,625+€26,560
Equity
€1.3m
2024 · €1.4m-€54,066
Cash
€14,425
2024 · €7,513+€6,912
Balance sheet total
€4.9m
2024 · €4.2m+€713,052
Largest movements
Assets
- Tangible fixed assets +€433,669
up €433,669 (+10.6%), from €4.1m to €4.5m
of which Land and buildings: +€444,587
- Receivables within one year +€271,471
up €271,471 (+384%), from €70,638 to €342,109
of which Other amounts receivable: +€270,582
Equity and liabilities
- Debts after one year +€988,394
up €988,394 (+64.4%), from €1.5m to €2.5m
- Trade debts -€310,358
down €310,358 (-72.9%), from €425,560 to €115,201
- Current portion of long-term debt +€107,733
up €107,733 (+39.6%), from €272,097 to €379,830
- Reserves -€59,016
down €59,016 (-17.6%), from €335,559 to €276,543
of which Tax-exempt reserves: -€59,016
Income statement
- Staff costs -€38,563
down €38,563 (-70.9%), from €54,369 to €15,806
- Depreciation +€23,954
up €23,954 (+6.2%), from €384,708 to €408,662
- Write-downs -€22,516
new in 2025: -€22,516
- Financial charges +€18,712
up €18,712 (+38.4%), from €48,695 to €67,407
- Gross operating margin +€15,829
up €15,829 (+3.7%), from €429,339 to €445,168
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.
Result 2024
-€80,625
Gross operating margin
+€15,829
Staff costs
+€38,563
Depreciation
-€23,954
Write-downs
+€22,516
Other operating charges
-€2,038
Financial charges
-€18,712
Taxes
-€1,088
Deferred taxes and other
-€4,556
Result 2025
-€54,066
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€245,884
Investment
-€843,331
Financing
+€1.1m
Cash 2024
€7,513
From operations (derived)
-€245,884
Net result for the year
-€54,066
Depreciation
+€408,662
Receivables within one year
-€271,471
Provisions
-€27,905
Trade debts
-€310,358
Tax, wage and social debts
-€4,684
Other debts
-€9,342
Accrued charges and deferred income
+€23,280
Investment (derived)
-€843,331
Investment in fixed assets (net)
-€843,331
Financing
+€1.1m
Debts after one year
+€988,394
Current portion of long-term debt
+€107,733
Cash 2025
€14,425
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,185,105 | €4,898,158 | +€713,052 | +17.0% |
| Fixed assets | 21/28 | €4,106,954 | €4,541,623 | +€434,669 | +10.6% |
| Tangible fixed assets | 22/27 | €4,106,589 | €4,540,258 | +€433,669 | +10.6% |
| Land and buildings | 22 | €4,074,495 | €4,519,083 | +€444,587 | +10.9% |
| Plant, machinery and equipment | 23 | €8,879 | €5,187 | -€3,692 | -41.6% |
| Furniture and vehicles | 24 | €23,215 | €15,989 | -€7,226 | -31.1% |
| Financial fixed assets | 28 | €365 | €1,365 | +€1,000 | +274% |
| Current assets | 29/58 | €78,151 | €356,534 | +€278,383 | +356% |
| Amounts receivable within one year | 40/41 | €70,638 | €342,109 | +€271,471 | +384% |
| Trade receivables | 40 | €988 | €1,877 | +€889 | +89.9% |
| Other amounts receivable | 41 | €69,650 | €340,232 | +€270,582 | +388% |
| Cash at bank and in hand | 54/58 | €7,513 | €14,425 | +€6,912 | +92.0% |
| Total equity and liabilities | 10/49 | €4,185,105 | €4,898,158 | +€713,052 | +17.0% |
| Equity | 10/15 | €1,388,634 | €1,334,569 | -€54,066 | -3.9% |
| Contributions | 10/11 | €905,000 | €905,000 | = | 0.0% |
| Capital | 10 | €905,000 | €905,000 | = | 0.0% |
| Issued capital | 100 | €905,000 | €905,000 | = | 0.0% |
| Reserves | 13 | €335,559 | €276,543 | -€59,016 | -17.6% |
| Non-distributable reserves | 130/1 | €90,500 | €90,500 | = | 0.0% |
| Legal reserve | 130 | €90,500 | €90,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €245,059 | €186,043 | -€59,016 | -24.1% |
| Profit (loss) carried forward | 14 | €148,076 | €153,026 | +€4,950 | +3.3% |
| Provisions and deferred taxes | 16 | €65,700 | €37,795 | -€27,905 | -42.5% |
| Deferred taxes | 168 | €65,700 | €37,795 | -€27,905 | -42.5% |
| Amounts payable | 17/49 | €2,730,771 | €3,525,794 | +€795,023 | +29.1% |
| Amounts payable after more than one year | 17 | €1,535,649 | €2,524,043 | +€988,394 | +64.4% |
| Financial debts | 170/4 | €1,535,649 | €2,524,043 | +€988,394 | +64.4% |
| Amounts payable within one year | 42/48 | €1,177,511 | €960,859 | -€216,651 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €272,097 | €379,830 | +€107,733 | +39.6% |
| Trade debts | 44 | €425,560 | €115,201 | -€310,358 | -72.9% |
| Suppliers | 440/4 | €425,560 | €115,201 | -€310,358 | -72.9% |
| Taxes, remuneration and social security | 45 | €8,443 | €3,759 | -€4,684 | -55.5% |
| Taxes | 450/3 | €1,500 | €1,734 | +€234 | +15.6% |
| Remuneration and social security | 454/9 | €6,943 | €2,024 | -€4,918 | -70.8% |
| Other amounts payable | 47/48 | €471,411 | €462,069 | -€9,342 | -2.0% |
| Accrued charges and deferred income | 492/3 | €17,611 | €40,892 | +€23,280 | +132% |
| Non-recurring operating income | 76A | €2,021 | - | -€2,021 | |
| Remuneration, social security and pensions | 62 | €54,369 | €15,806 | -€38,563 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384,708 | €408,662 | +€23,954 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€22,516 | -€22,516 | |
| Other operating charges | 640/8 | €55,459 | €57,497 | +€2,038 | +3.7% |
| Gross operating margin | 9900 | €429,339 | €445,168 | +€15,829 | +3.7% |
| Operating profit (loss) | 9901 | -€65,197 | -€14,281 | +€50,916 | +78.1% |
| Financial charges | 65/66B | €48,695 | €67,407 | +€18,712 | +38.4% |
| Recurring financial charges | 65 | €48,695 | €67,407 | +€18,712 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | -€113,892 | -€81,688 | +€32,204 | +28.3% |
| Transfer from deferred taxes | 780 | €32,461 | €27,905 | -€4,556 | -14.0% |
| Income taxes | 67/77 | -€806 | €283 | +€1,088 | |
| Profit (loss) for the period | 9904 | -€80,625 | -€54,066 | +€26,560 | +32.9% |
| Transfer from tax-exempt reserves | 789 | €67,864 | €59,016 | -€8,848 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,761 | €4,950 | +€17,711 |
Next steps
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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 5 November 2026 via checked.be.