Seppe Projects: what changed
Seppe Projects
Largest movements
- Tangible fixed assets +€181,083
up €181,083 (+383%), from €47,264 to €228,347
of which Land and buildings: +€217,772
- Stocks and contracts -€49,192
no longer reported in 2025 (was €49,192)
- Receivables within one year +€8,085
up €8,085 (+23.2%), from €34,796 to €42,880
of which Other amounts receivable: +€18,776
- Deferred charges and accrued income +€4,001
up €4,001 (+187%), from €2,142 to €6,143
- Debts after one year +€148,650
up €148,650 (+753%), from €19,750 to €168,400
- Trade debts +€51,159
up €51,159 (+810%), from €6,320 to €57,479
- Profit (loss) carried forward -€47,450
down €47,450 (-47.7%), from €99,388 to €51,938
- Tax, wage and social debts -€4,253
no longer reported in 2025 (was €4,253)
- Current portion of long-term debt -€4,119
down €4,119 (-28.2%), from €14,613 to €10,494
- Gross operating margin -€57,908
down €57,908, from €23,034 to -€34,875
- Depreciation -€7,592
down €7,592 (-50.4%), from €15,060 to €7,467
- Financial charges +€3,074
up €3,074 (+174%), from €1,762 to €4,837
- Taxes -€1,731
no longer reported in 2025 (was €1,731)
- Financial income -€399
down €399 (-44.6%), from €894 to €495
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,307 | €291,633 | +€144,326 | +98.0% |
| Fixed assets | 21/28 | €48,069 | €229,152 | +€181,083 | +377% |
| Tangible fixed assets | 22/27 | €47,264 | €228,347 | +€181,083 | +383% |
| Land and buildings | 22 | - | €217,772 | +€217,772 | |
| Furniture and vehicles | 24 | €47,264 | €10,575 | -€36,689 | -77.6% |
| Financial fixed assets | 28 | €805 | €805 | = | 0.0% |
| Current assets | 29/58 | €99,238 | €62,480 | -€36,758 | -37.0% |
| Stocks and contracts in progress | 3 | €49,192 | - | -€49,192 | |
| Stocks | 30/36 | €49,192 | - | -€49,192 | |
| Amounts receivable within one year | 40/41 | €34,796 | €42,880 | +€8,085 | +23.2% |
| Trade receivables | 40 | €14,617 | €3,926 | -€10,691 | -73.1% |
| Other amounts receivable | 41 | €20,178 | €38,954 | +€18,776 | +93.0% |
| Cash at bank and in hand | 54/58 | €13,108 | €13,457 | +€349 | +2.7% |
| Deferred charges and accrued income | 490/1 | €2,142 | €6,143 | +€4,001 | +187% |
| Total equity and liabilities | 10/49 | €147,307 | €291,633 | +€144,326 | +98.0% |
| Equity | 10/15 | €99,488 | €52,038 | -€47,450 | -47.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,388 | €51,938 | -€47,450 | -47.7% |
| Amounts payable | 17/49 | €47,819 | €239,595 | +€191,775 | +401% |
| Amounts payable after more than one year | 17 | €19,750 | €168,400 | +€148,650 | +753% |
| Financial debts | 170/4 | €19,750 | €168,400 | +€148,650 | +753% |
| Amounts payable within one year | 42/48 | €25,185 | €67,973 | +€42,788 | +170% |
| Current portion of amounts payable after more than one year | 42 | €14,613 | €10,494 | -€4,119 | -28.2% |
| Trade debts | 44 | €6,320 | €57,479 | +€51,159 | +810% |
| Suppliers | 440/4 | €6,320 | €57,479 | +€51,159 | +810% |
| Taxes, remuneration and social security | 45 | €4,253 | - | -€4,253 | |
| Taxes | 450/3 | €4,253 | - | -€4,253 | |
| Accrued charges and deferred income | 492/3 | €2,884 | €3,222 | +€337 | +11.7% |
| Non-recurring operating income | 76A | - | €6,354 | +€6,354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,060 | €7,467 | -€7,592 | -50.4% |
| Other operating charges | 640/8 | €1,000 | €766 | -€233 | -23.3% |
| Gross operating margin | 9900 | €23,034 | -€34,875 | -€57,908 | |
| Operating profit (loss) | 9901 | €6,975 | -€43,108 | -€50,083 | |
| Financial income | 75/76B | €894 | €495 | -€399 | -44.6% |
| Recurring financial income | 75 | €894 | €495 | -€399 | -44.6% |
| Financial charges | 65/66B | €1,762 | €4,837 | +€3,074 | +174% |
| Recurring financial charges | 65 | €1,762 | €4,837 | +€3,074 | +174% |
| Profit (loss) for the period before taxes | 9903 | €6,106 | -€47,450 | -€53,556 | |
| Income taxes | 67/77 | €1,731 | - | -€1,731 | |
| Profit (loss) for the period | 9904 | €4,376 | -€47,450 | -€51,826 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,376 | -€47,450 | -€51,826 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.