SEPHI INVEST: 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.
SEPHI INVEST
Largest movements
- Receivables within one year -€16,871
down €16,871 (-29.3%), from €57,637 to €40,766
of which Other amounts receivable: -€27,162
- Cash +€2,725
up €2,725 (+100,189%), from €3 to €2,728
mainly Receivables within one year (+€16,871) and Other debts (+€11,215)
- Deferred charges and accrued income +€1,841
up €1,841 (+1,693%), from €109 to €1,950
- Tangible fixed assets -€830
down €830 (-36.5%), from €2,273 to €1,444
of which Other tangible fixed assets: -€576
- Trade debts -€18,475
down €18,475 (-57.2%), from €32,276 to €13,801
- Other debts +€11,215
new in 2024: €11,215
- Profit (loss) carried forward -€7,897
down €7,897 (-63.8%), from -€12,371 to -€20,268
- Short-term financial debts +€6,284
up €6,284 (+77.2%), from €8,145 to €14,429
- Tax, wage and social debts -€4,260
down €4,260 (-25.3%), from €16,863 to €12,603
of which Remuneration and social security: -€4,462
- Staff costs +€6,264
up €6,264 (+29.1%), from €21,501 to €27,766
- Other operating charges -€5,963
down €5,963 (-71.7%), from €8,321 to €2,358
- Gross operating margin +€3,316
up €3,316 (+16.4%), from €20,182 to €23,498
- Financial income +€1,338
up €1,338 (+177%), from €757 to €2,095
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,913 | €51,779 | -€13,134 | -20.2% |
| Fixed assets | 21/28 | €7,164 | €6,335 | -€830 | -11.6% |
| Tangible fixed assets | 22/27 | €2,273 | €1,444 | -€830 | -36.5% |
| Furniture and vehicles | 24 | €569 | €316 | -€254 | -44.6% |
| Other tangible fixed assets | 26 | €1,704 | €1,128 | -€576 | -33.8% |
| Financial fixed assets | 28 | €4,891 | €4,891 | = | 0.0% |
| Current assets | 29/58 | €57,748 | €45,444 | -€12,304 | -21.3% |
| Amounts receivable within one year | 40/41 | €57,637 | €40,766 | -€16,871 | -29.3% |
| Trade receivables | 40 | €29,643 | €39,935 | +€10,292 | +34.7% |
| Other amounts receivable | 41 | €27,994 | €831 | -€27,162 | -97.0% |
| Cash at bank and in hand | 54/58 | €3 | €2,728 | +€2,725 | +100,189% |
| Deferred charges and accrued income | 490/1 | €109 | €1,950 | +€1,841 | +1,693% |
| Total equity and liabilities | 10/49 | €64,913 | €51,779 | -€13,134 | -20.2% |
| Equity | 10/15 | €7,629 | -€268 | -€7,897 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,371 | -€20,268 | -€7,897 | -63.8% |
| Amounts payable | 17/49 | €57,283 | €52,047 | -€5,236 | -9.1% |
| Amounts payable within one year | 42/48 | €57,283 | €52,047 | -€5,236 | -9.1% |
| Financial debts | 43 | €8,145 | €14,429 | +€6,284 | +77.2% |
| Credit institutions | 430/8 | €8,145 | €14,429 | +€6,284 | +77.2% |
| Trade debts | 44 | €32,276 | €13,801 | -€18,475 | -57.2% |
| Suppliers | 440/4 | €32,276 | €13,801 | -€18,475 | -57.2% |
| Taxes, remuneration and social security | 45 | €16,863 | €12,603 | -€4,260 | -25.3% |
| Taxes | 450/3 | €8,766 | €8,968 | +€202 | +2.3% |
| Remuneration and social security | 454/9 | €8,097 | €3,634 | -€4,462 | -55.1% |
| Other amounts payable | 47/48 | - | €11,215 | +€11,215 | |
| Remuneration, social security and pensions | 62 | €21,501 | €27,766 | +€6,264 | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €830 | €830 | = | 0.0% |
| Other operating charges | 640/8 | €8,321 | €2,358 | -€5,963 | -71.7% |
| Gross operating margin | 9900 | €20,182 | €23,498 | +€3,316 | +16.4% |
| Operating profit (loss) | 9901 | -€10,470 | -€7,455 | +€3,015 | +28.8% |
| Financial income | 75/76B | €757 | €2,095 | +€1,338 | +177% |
| Recurring financial income | 75 | €757 | €2,095 | +€1,338 | +177% |
| Financial charges | 65/66B | €2,456 | €2,538 | +€82 | +3.3% |
| Recurring financial charges | 65 | €2,456 | €2,538 | +€82 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,169 | -€7,897 | +€4,272 | +35.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€12,169 | -€7,897 | +€4,272 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,169 | -€7,897 | +€4,272 | +35.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.