SEPABIS: 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.
SEPABIS
Largest movements
- Current investments +€150,116
up €150,116 (+29,424%), from €510 to €150,627
- Cash +€56,718
up €56,718 (+38.1%), from €148,971 to €205,690
mainly Net result for the year (+€189,465) and Depreciation (+€15,169)
- Profit (loss) carried forward +€189,465
new in 2025: €189,465
- Financial income +€50,162
up €50,162 (+50.2%), from €100,005 to €150,166
- Depreciation -€5,733
down €5,733 (-27.4%), from €20,902 to €15,169
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 | €3,194,436 | €3,382,869 | +€188,433 | +5.9% |
| Fixed assets | 21/28 | €2,993,845 | €2,978,676 | -€15,169 | -0.5% |
| Tangible fixed assets | 22/27 | €32,644 | €17,475 | -€15,169 | -46.5% |
| Furniture and vehicles | 24 | €32,644 | €17,475 | -€15,169 | -46.5% |
| Financial fixed assets | 28 | €2,961,201 | €2,961,201 | = | 0.0% |
| Current assets | 29/58 | €200,592 | €404,194 | +€203,602 | +102% |
| Amounts receivable within one year | 40/41 | €45,152 | €42,118 | -€3,034 | -6.7% |
| Trade receivables | 40 | €32,247 | €32,247 | = | 0.0% |
| Other amounts receivable | 41 | €12,906 | €9,871 | -€3,034 | -23.5% |
| Current investments | 50/53 | €510 | €150,627 | +€150,116 | +29,424% |
| Cash at bank and in hand | 54/58 | €148,971 | €205,690 | +€56,718 | +38.1% |
| Deferred charges and accrued income | 490/1 | €5,958 | €5,760 | -€198 | -3.3% |
| Total equity and liabilities | 10/49 | €3,194,436 | €3,382,869 | +€188,433 | +5.9% |
| Equity | 10/15 | €3,180,533 | €3,369,998 | +€189,465 | +6.0% |
| Contributions | 10/11 | €1,705,000 | €1,705,000 | = | 0.0% |
| Reserves | 13 | €1,475,533 | €1,475,533 | = | 0.0% |
| Distributable reserves | 133 | €1,475,533 | €1,475,533 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €189,465 | +€189,465 | |
| Amounts payable | 17/49 | €13,903 | €12,871 | -€1,032 | -7.4% |
| Amounts payable within one year | 42/48 | €13,903 | €12,871 | -€1,032 | -7.4% |
| Financial debts | 43 | - | €204 | +€204 | |
| Credit institutions | 430/8 | - | €204 | +€204 | |
| Trade debts | 44 | €4,413 | €7,739 | +€3,327 | +75.4% |
| Suppliers | 440/4 | €4,413 | €7,739 | +€3,327 | +75.4% |
| Taxes, remuneration and social security | 45 | €733 | €390 | -€343 | -46.8% |
| Taxes | 450/3 | €733 | €390 | -€343 | -46.8% |
| Other amounts payable | 47/48 | €8,757 | €4,538 | -€4,219 | -48.2% |
| Non-recurring operating income | 76A | €912 | - | -€912 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,902 | €15,169 | -€5,733 | -27.4% |
| Other operating charges | 640/8 | €2,777 | €2,860 | +€82 | +3.0% |
| Gross operating margin | 9900 | €72,953 | €72,861 | -€93 | -0.1% |
| Operating profit (loss) | 9901 | €49,274 | €54,832 | +€5,558 | +11.3% |
| Financial income | 75/76B | €100,005 | €150,166 | +€50,162 | +50.2% |
| Recurring financial income | 75 | €100,005 | €150,166 | +€50,162 | +50.2% |
| Financial charges | 65/66B | €126 | €126 | +€0 | 0.0% |
| Recurring financial charges | 65 | €126 | €126 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €149,153 | €204,873 | +€55,720 | +37.4% |
| Income taxes | 67/77 | €14,772 | €15,408 | +€636 | +4.3% |
| Profit (loss) for the period | 9904 | €134,381 | €189,465 | +€55,084 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,381 | €189,465 | +€55,084 | +41.0% |
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.