SENTH: what changed
Two fiscal 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.
SENTH
Largest movements
- Cash -€14,400
down €14,400 (-14.4%), from €100,071 to €85,671
mainly Investment in fixed assets (net) (-€34,494) and Tax, wage and social debts (-€28,497)
- Tangible fixed assets -€3,523
down €3,523 (-4.6%), from €77,213 to €73,689
of which Furniture and vehicles: -€12,433
- Reserves +€38,072
up €38,072 (+38.7%), from €98,434 to €136,506
- Tax, wage and social debts -€28,497
down €28,497 (-66.8%), from €42,689 to €14,192
- Debts after one year -€24,115
down €24,115 (-81.5%), from €29,581 to €5,466
- Trade debts -€3,661
down €3,661 (-86.2%), from €4,245 to €585
- Gross operating margin -€5,672
down €5,672 (-5.8%), from €98,350 to €92,678
- Financial charges -€2,652
down €2,652 (-58.3%), from €4,553 to €1,901
- Depreciation +€2,018
up €2,018 (+5.6%), from €35,999 to €38,017
- Taxes -€1,268
down €1,268 (-8.5%), from €15,001 to €13,733
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.
Cash bridge derived
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 | €210,082 | €189,213 | -€20,869 | -9.9% |
| Fixed assets | 21/28 | €77,213 | €73,689 | -€3,523 | -4.6% |
| Tangible fixed assets | 22/27 | €77,213 | €73,689 | -€3,523 | -4.6% |
| Plant, machinery and equipment | 23 | €57,797 | €66,707 | +€8,910 | +15.4% |
| Furniture and vehicles | 24 | €19,415 | €6,982 | -€12,433 | -64.0% |
| Current assets | 29/58 | €132,869 | €115,524 | -€17,346 | -13.1% |
| Amounts receivable after more than one year | 29 | €24,000 | €24,000 | = | 0.0% |
| Other amounts receivable | 291 | €24,000 | €24,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,924 | €3,896 | -€2,028 | -34.2% |
| Trade receivables | 40 | €5,924 | €1,579 | -€4,345 | -73.3% |
| Other amounts receivable | 41 | €0 | €2,317 | +€2,317 | |
| Cash at bank and in hand | 54/58 | €100,071 | €85,671 | -€14,400 | -14.4% |
| Deferred charges and accrued income | 490/1 | €2,875 | €1,957 | -€918 | -31.9% |
| Total equity and liabilities | 10/49 | €210,082 | €189,213 | -€20,869 | -9.9% |
| Equity | 10/15 | €101,434 | €139,506 | +€38,072 | +37.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €98,434 | €136,506 | +€38,072 | +38.7% |
| Distributable reserves | 133 | €98,434 | €136,506 | +€38,072 | +38.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,648 | €49,707 | -€58,941 | -54.2% |
| Amounts payable after more than one year | 17 | €29,581 | €5,466 | -€24,115 | -81.5% |
| Financial debts | 170/4 | €29,581 | €5,466 | -€24,115 | -81.5% |
| Amounts payable within one year | 42/48 | €79,067 | €44,241 | -€34,826 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €25,984 | €25,227 | -€757 | -2.9% |
| Trade debts | 44 | €4,245 | €585 | -€3,661 | -86.2% |
| Suppliers | 440/4 | €4,245 | €585 | -€3,661 | -86.2% |
| Taxes, remuneration and social security | 45 | €42,689 | €14,192 | -€28,497 | -66.8% |
| Taxes | 450/3 | €42,689 | €14,192 | -€28,497 | -66.8% |
| Other amounts payable | 47/48 | €6,148 | €4,237 | -€1,911 | -31.1% |
| Non-recurring operating income | 76A | €14,483 | €0 | -€14,483 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €205 | +€205 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,999 | €38,017 | +€2,018 | +5.6% |
| Other operating charges | 640/8 | €947 | €1,002 | +€54 | +5.7% |
| Gross operating margin | 9900 | €98,350 | €92,678 | -€5,672 | -5.8% |
| Operating profit (loss) | 9901 | €61,403 | €53,454 | -€7,949 | -12.9% |
| Financial income | 75/76B | €1,064 | €252 | -€812 | -76.3% |
| Recurring financial income | 75 | €1,064 | €252 | -€812 | -76.3% |
| Financial charges | 65/66B | €4,553 | €1,901 | -€2,652 | -58.3% |
| Recurring financial charges | 65 | €4,553 | €1,901 | -€2,652 | -58.3% |
| Profit (loss) for the period before taxes | 9903 | €57,914 | €51,805 | -€6,109 | -10.5% |
| Income taxes | 67/77 | €15,001 | €13,733 | -€1,268 | -8.5% |
| Profit (loss) for the period | 9904 | €42,912 | €38,072 | -€4,840 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,912 | €38,072 | -€4,840 | -11.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.