SEPHIA HOLDING: 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.
SEPHIA HOLDING
Largest movements
- Tangible fixed assets -€2,940
down €2,940 (-10.0%), from €29,400 to €26,460
- Cash +€2,350
up €2,350 (+1,769%), from €133 to €2,482
mainly Other debts (+€3,602) and Depreciation (+€2,940)
- Receivables within one year -€1,210
down €1,210 (-100%), from €1,210 to €0
of which Trade receivables: -€1,210
- Profit (loss) carried forward -€7,654
down €7,654 (-33.9%), from €22,605 to €14,951
- Other debts +€3,602
up €3,602 (+47.2%), from €7,632 to €11,233
- Trade debts +€2,554
up €2,554 (+487%), from €524 to €3,078
- Gross operating margin +€2,673
up €2,673 (+40.0%), from -€6,690 to -€4,017
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 | €51,618 | €50,097 | -€1,521 | -2.9% |
| Fixed assets | 21/28 | €50,275 | €47,335 | -€2,940 | -5.8% |
| Tangible fixed assets | 22/27 | €29,400 | €26,460 | -€2,940 | -10.0% |
| Land and buildings | 22 | €29,400 | €26,460 | -€2,940 | -10.0% |
| Financial fixed assets | 28 | €20,875 | €20,875 | = | 0.0% |
| Current assets | 29/58 | €1,343 | €2,762 | +€1,419 | +106% |
| Amounts receivable within one year | 40/41 | €1,210 | €0 | -€1,210 | -100% |
| Trade receivables | 40 | €1,210 | €0 | -€1,210 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €133 | €2,482 | +€2,350 | +1,769% |
| Deferred charges and accrued income | 490/1 | - | €279 | +€279 | |
| Total equity and liabilities | 10/49 | €51,618 | €50,097 | -€1,521 | -2.9% |
| Equity | 10/15 | €43,065 | €35,411 | -€7,654 | -17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,605 | €14,951 | -€7,654 | -33.9% |
| Amounts payable | 17/49 | €8,553 | €14,686 | +€6,133 | +71.7% |
| Amounts payable within one year | 42/48 | €8,553 | €14,686 | +€6,133 | +71.7% |
| Trade debts | 44 | €524 | €3,078 | +€2,554 | +487% |
| Suppliers | 440/4 | €524 | €3,078 | +€2,554 | +487% |
| Taxes, remuneration and social security | 45 | €397 | €375 | -€23 | -5.7% |
| Taxes | 450/3 | €397 | €375 | -€23 | -5.7% |
| Other amounts payable | 47/48 | €7,632 | €11,233 | +€3,602 | +47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,940 | €2,940 | = | 0.0% |
| Other operating charges | 640/8 | €424 | €412 | -€13 | -3.0% |
| Gross operating margin | 9900 | -€6,690 | -€4,017 | +€2,673 | +40.0% |
| Operating profit (loss) | 9901 | -€10,054 | -€7,368 | +€2,685 | +26.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €275 | €285 | +€10 | +3.7% |
| Recurring financial charges | 65 | €275 | €285 | +€10 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,329 | -€7,654 | +€2,675 | +25.9% |
| Profit (loss) for the period | 9904 | -€10,329 | -€7,654 | +€2,675 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,329 | -€7,654 | +€2,675 | +25.9% |
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 25 October 2026 via checked.be.