SEPHOREL: 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.
SEPHOREL
Largest movements
- Cash -€2,995
down €2,995 (-34.2%), from €8,761 to €5,766
mainly Net result for the year (-€1,724) and Trade debts (-€1,271)
- Profit (loss) carried forward -€1,724
down €1,724 (-0.9%), from -€189,928 to -€191,652
- Trade debts -€1,271
no longer reported in 2025 (was €1,271)
- Write-downs -€159,974
new in 2025: -€159,974
- Gross operating margin -€1,599
new in 2025: -€1,599
- Financial charges +€125
up €125 (+0.1%), from €159,974 to €160,099
of which Non-recurring financial charges: +€125
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 | €9,112 | €6,117 | -€2,995 | -32.9% |
| Current assets | 29/58 | €9,112 | €6,117 | -€2,995 | -32.9% |
| Amounts receivable within one year | 40/41 | €351 | €351 | = | 0.0% |
| Other amounts receivable | 41 | €351 | €351 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,761 | €5,766 | -€2,995 | -34.2% |
| Total equity and liabilities | 10/49 | €9,112 | €6,117 | -€2,995 | -32.9% |
| Equity | 10/15 | -€171,328 | -€173,052 | -€1,724 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,928 | -€191,652 | -€1,724 | -0.9% |
| Amounts payable | 17/49 | €180,439 | €179,169 | -€1,271 | -0.7% |
| Amounts payable within one year | 42/48 | €180,439 | €179,169 | -€1,271 | -0.7% |
| Trade debts | 44 | €1,271 | - | -€1,271 | |
| Suppliers | 440/4 | €1,271 | - | -€1,271 | |
| Other amounts payable | 47/48 | €179,169 | €179,169 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€159,974 | -€159,974 | |
| Gross operating margin | 9900 | - | -€1,599 | -€1,599 | |
| Operating profit (loss) | 9901 | - | €158,375 | +€158,375 | |
| Financial charges | 65/66B | €159,974 | €160,099 | +€125 | +0.1% |
| Recurring financial charges | 65 | €159,974 | €0 | -€159,974 | -100.0% |
| Non-recurring financial charges | 66B | €159,974 | €160,099 | +€125 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | -€159,974 | -€1,724 | +€158,250 | +98.9% |
| Profit (loss) for the period | 9904 | -€159,974 | -€1,724 | +€158,250 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,974 | -€1,724 | +€158,250 | +98.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.