Sepino: 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.
Sepino
Largest movements
- Cash +€34,066
up €34,066 (+131%), from €26,016 to €60,083
mainly Net result for the year (+€34,320) and Receivables within one year (+€2,320)
- Receivables within one year -€2,320
down €2,320 (-16.1%), from €14,399 to €12,079
of which Trade receivables: -€1,227
- Profit (loss) carried forward +€33,487
up €33,487 (+64.7%), from €51,754 to €85,241
- Trade debts -€2,348
no longer reported in 2025 (was €2,348)
- Depreciation -€10,148
down €10,148 (-86.3%), from €11,759 to €1,612
- Taxes +€1,571
up €1,571 (+20.9%), from €7,521 to €9,092
- Gross operating margin -€1,065
down €1,065 (-2.1%), from €50,432 to €49,367
- Financial charges +€760
up €760 (+32.4%), from €2,343 to €3,104
- Other operating charges +€521
up €521 (+72.4%), from €720 to €1,241
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 | €98,323 | €129,963 | +€31,640 | +32.2% |
| Fixed assets | 21/28 | €56,163 | €57,126 | +€963 | +1.7% |
| Tangible fixed assets | 22/27 | €56,163 | €57,126 | +€963 | +1.7% |
| Land and buildings | 22 | €56,163 | €54,727 | -€1,436 | -2.6% |
| Furniture and vehicles | 24 | - | €2,399 | +€2,399 | |
| Current assets | 29/58 | €42,160 | €72,837 | +€30,677 | +72.8% |
| Amounts receivable within one year | 40/41 | €14,399 | €12,079 | -€2,320 | -16.1% |
| Trade receivables | 40 | €12,420 | €11,193 | -€1,227 | -9.9% |
| Other amounts receivable | 41 | €1,979 | €886 | -€1,092 | -55.2% |
| Cash at bank and in hand | 54/58 | €26,016 | €60,083 | +€34,066 | +131% |
| Deferred charges and accrued income | 490/1 | €1,745 | €675 | -€1,070 | -61.3% |
| Total equity and liabilities | 10/49 | €98,323 | €129,963 | +€31,640 | +32.2% |
| Equity | 10/15 | €54,254 | €87,741 | +€33,487 | +61.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,754 | €85,241 | +€33,487 | +64.7% |
| Amounts payable | 17/49 | €44,068 | €42,221 | -€1,847 | -4.2% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,486 | €7,721 | -€1,764 | -18.6% |
| Trade debts | 44 | €2,348 | - | -€2,348 | |
| Suppliers | 440/4 | €2,348 | - | -€2,348 | |
| Taxes, remuneration and social security | 45 | €5,247 | €5,577 | +€330 | +6.3% |
| Taxes | 450/3 | €5,247 | €5,577 | +€330 | +6.3% |
| Other amounts payable | 47/48 | €1,891 | €2,144 | +€254 | +13.4% |
| Accrued charges and deferred income | 492/3 | €4,583 | €4,500 | -€83 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,759 | €1,612 | -€10,148 | -86.3% |
| Other operating charges | 640/8 | €720 | €1,241 | +€521 | +72.4% |
| Gross operating margin | 9900 | €50,432 | €49,367 | -€1,065 | -2.1% |
| Operating profit (loss) | 9901 | €37,953 | €46,514 | +€8,561 | +22.6% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €2,343 | €3,104 | +€760 | +32.4% |
| Recurring financial charges | 65 | €2,343 | €3,104 | +€760 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €35,610 | €43,413 | +€7,803 | +21.9% |
| Income taxes | 67/77 | €7,521 | €9,092 | +€1,571 | +20.9% |
| Profit (loss) for the period | 9904 | €28,089 | €34,320 | +€6,231 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,089 | €34,320 | +€6,231 | +22.2% |
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 17 October 2026 via checked.be.