SEPP CONSULTING: 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.
SEPP CONSULTING
Largest movements
- Tangible fixed assets +€57,716
up €57,716 (+781%), from €7,387 to €65,102
of which Furniture and vehicles: +€59,484
- Cash -€16,879
down €16,879 (-18.3%), from €92,269 to €75,390
mainly Investment in fixed assets (net) (-€61,999) and Other debts (-€52,421)
- Receivables within one year +€8,662
up €8,662 (+40.8%), from €21,252 to €29,914
of which Other amounts receivable: +€4,870
- Deferred charges and accrued income -€3,582
down €3,582 (-70.9%), from €5,048 to €1,467
- Other debts -€52,421
down €52,421 (-70.1%), from €74,778 to €22,358
- Profit (loss) carried forward +€49,311
up €49,311, from €0 to €49,311
- Debts after one year +€37,914
up €37,914, from €0 to €37,914
- Current portion of long-term debt +€12,582
up €12,582 (+1,023%), from €1,230 to €13,811
- Accrued charges and deferred income -€1,722
down €1,722 (-99.8%), from €1,726 to €4
- Gross operating margin +€31,213
up €31,213 (+74.6%), from €41,826 to €73,039
- Taxes +€7,638
up €7,638 (+78.9%), from €9,686 to €17,324
- Financial charges -€1,788
down €1,788 (-59.2%), from €3,018 to €1,230
- Depreciation +€1,261
up €1,261 (+41.7%), from €3,022 to €4,283
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 | €125,956 | €171,873 | +€45,917 | +36.5% |
| Fixed assets | 21/28 | €7,387 | €65,102 | +€57,716 | +781% |
| Tangible fixed assets | 22/27 | €7,387 | €65,102 | +€57,716 | +781% |
| Furniture and vehicles | 24 | €1,429 | €60,914 | +€59,484 | +4,161% |
| Other tangible fixed assets | 26 | €5,957 | €4,188 | -€1,769 | -29.7% |
| Current assets | 29/58 | €118,569 | €106,771 | -€11,799 | -10.0% |
| Amounts receivable within one year | 40/41 | €21,252 | €29,914 | +€8,662 | +40.8% |
| Trade receivables | 40 | €17,712 | €21,504 | +€3,792 | +21.4% |
| Other amounts receivable | 41 | €3,540 | €8,411 | +€4,870 | +138% |
| Cash at bank and in hand | 54/58 | €92,269 | €75,390 | -€16,879 | -18.3% |
| Deferred charges and accrued income | 490/1 | €5,048 | €1,467 | -€3,582 | -70.9% |
| Total equity and liabilities | 10/49 | €125,956 | €171,873 | +€45,917 | +36.5% |
| Equity | 10/15 | €42,855 | €92,165 | +€49,311 | +115% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,255 | €24,255 | = | 0.0% |
| Distributable reserves | 133 | €24,255 | €24,255 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €49,311 | +€49,311 | |
| Amounts payable | 17/49 | €83,101 | €79,707 | -€3,394 | -4.1% |
| Amounts payable after more than one year | 17 | €0 | €37,914 | +€37,914 | |
| Financial debts | 170/4 | €0 | €37,914 | +€37,914 | |
| Amounts payable within one year | 42/48 | €81,375 | €41,789 | -€39,586 | -48.6% |
| Current portion of amounts payable after more than one year | 42 | €1,230 | €13,811 | +€12,582 | +1,023% |
| Financial debts | 43 | €3,485 | €3,893 | +€409 | +11.7% |
| Credit institutions | 430/8 | €3,485 | €3,893 | +€409 | +11.7% |
| Trade debts | 44 | €1,583 | €124 | -€1,459 | -92.2% |
| Suppliers | 440/4 | €1,583 | €124 | -€1,459 | -92.2% |
| Taxes, remuneration and social security | 45 | €300 | €1,603 | +€1,303 | +434% |
| Taxes | 450/3 | €300 | €1,603 | +€1,303 | +434% |
| Other amounts payable | 47/48 | €74,778 | €22,358 | -€52,421 | -70.1% |
| Accrued charges and deferred income | 492/3 | €1,726 | €4 | -€1,722 | -99.8% |
| Non-recurring operating income | 76A | - | €4,132 | +€4,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,022 | €4,283 | +€1,261 | +41.7% |
| Other operating charges | 640/8 | €1,335 | €1,327 | -€8 | -0.6% |
| Gross operating margin | 9900 | €41,826 | €73,039 | +€31,213 | +74.6% |
| Operating profit (loss) | 9901 | €37,468 | €67,429 | +€29,960 | +80.0% |
| Financial income | 75/76B | €322 | €436 | +€114 | +35.2% |
| Recurring financial income | 75 | €322 | €436 | +€114 | +35.2% |
| Financial charges | 65/66B | €3,018 | €1,230 | -€1,788 | -59.2% |
| Recurring financial charges | 65 | €3,018 | €1,230 | -€1,788 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €34,773 | €66,635 | +€31,862 | +91.6% |
| Income taxes | 67/77 | €9,686 | €17,324 | +€7,638 | +78.9% |
| Profit (loss) for the period | 9904 | €25,088 | €49,311 | +€24,223 | +96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,088 | €49,311 | +€24,223 | +96.6% |
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 19 October 2026 via checked.be.