SEPAILLE: 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.
SEPAILLE
Largest movements
- Tangible fixed assets -€8,490
down €8,490 (-5.1%), from €164,976 to €156,486
of which Land and buildings: -€5,577
- Reserves -€10,984
down €10,984 (-16.4%), from €66,957 to €55,973
- Contributions +€4,750
up €4,750 (+7.7%), from €62,002 to €66,753
- Gross operating margin +€1,875
up €1,875 (+259.0%), from €724 to €2,598
- Other operating charges +€38
up €38 (+4.1%), from €930 to €968
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 | €165,004 | €156,825 | -€8,179 | -5.0% |
| Fixed assets | 21/28 | €164,976 | €156,486 | -€8,490 | -5.1% |
| Tangible fixed assets | 22/27 | €164,976 | €156,486 | -€8,490 | -5.1% |
| Land and buildings | 22 | €145,071 | €139,494 | -€5,577 | -3.8% |
| Other tangible fixed assets | 26 | €19,905 | €16,992 | -€2,913 | -14.6% |
| Current assets | 29/58 | €27 | €338 | +€311 | +1132.1% |
| Cash at bank and in hand | 54/58 | €27 | €338 | +€311 | +1132.1% |
| Total equity and liabilities | 10/49 | €165,004 | €156,825 | -€8,179 | -5.0% |
| Equity | 10/15 | €112,863 | €107,037 | -€5,826 | -5.2% |
| Contributions | 10/11 | €62,002 | €66,753 | +€4,750 | +7.7% |
| Reserves | 13 | €66,957 | €55,973 | -€10,984 | -16.4% |
| Non-distributable reserves | 130/1 | €4,750 | - | -€4,750 | |
| Reserves not available under the articles | 1311 | €4,750 | - | -€4,750 | |
| Tax-exempt reserves | 132 | €59,206 | €55,973 | -€3,234 | -5.5% |
| Distributable reserves | 133 | €3,000 | - | -€3,000 | |
| Profit (loss) carried forward | 14 | -€16,096 | -€15,688 | +€408 | +2.5% |
| Provisions and deferred taxes | 16 | €19,735 | €18,658 | -€1,078 | -5.5% |
| Deferred taxes | 168 | €19,735 | €18,658 | -€1,078 | -5.5% |
| Amounts payable | 17/49 | €32,405 | €31,130 | -€1,275 | -3.9% |
| Amounts payable within one year | 42/48 | €32,405 | €31,130 | -€1,275 | -3.9% |
| Other amounts payable | 47/48 | €32,405 | €31,130 | -€1,275 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,490 | €8,490 | = | 0.0% |
| Other operating charges | 640/8 | €930 | €968 | +€38 | +4.1% |
| Gross operating margin | 9900 | €724 | €2,598 | +€1,875 | +259.0% |
| Operating profit (loss) | 9901 | -€8,696 | -€6,859 | +€1,837 | +21.1% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,741 | -€6,904 | +€1,837 | +21.0% |
| Transfer from deferred taxes | 780 | €1,078 | €1,078 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€7,663 | -€5,826 | +€1,837 | +24.0% |
| Transfer from tax-exempt reserves | 789 | €3,234 | €3,234 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,429 | -€2,592 | +€1,837 | +41.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.