Seppe Stevens: 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.
Seppe Stevens
Largest movements
- Tangible fixed assets +€7,962
new in 2025: €7,962
- Cash +€4,231
up €4,231 (+42.9%), from €9,873 to €14,103
mainly Net result for the year (+€8,352) and Other debts (+€5,407)
- Receivables within one year -€4,132
down €4,132 (-100.0%), from €4,132 to €0
- Financial fixed assets +€1,087
up €1,087 (+3.5%), from €31,050 to €32,137
- Profit (loss) carried forward +€8,352
up €8,352 (+40.7%), from €20,529 to €28,881
- Other debts +€5,407
up €5,407 (+61.4%), from €8,806 to €14,213
- Advances received -€5,000
down €5,000 (-100.0%), from €5,000 to €0
- Gross operating margin -€5,964
down €5,964 (-37.5%), from €15,918 to €9,954
- Taxes -€998
down €998 (-30.6%), from €3,266 to €2,267
- Other operating charges -€464
down €464 (-87.1%), from €533 to €69
- Depreciation +€176
new in 2025: €176
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 | €45,055 | €54,253 | +€9,198 | +20.4% |
| Fixed assets | 21/28 | €31,050 | €40,099 | +€9,049 | +29.1% |
| Tangible fixed assets | 22/27 | - | €7,962 | +€7,962 | |
| Furniture and vehicles | 24 | - | €7,962 | +€7,962 | |
| Financial fixed assets | 28 | €31,050 | €32,137 | +€1,087 | +3.5% |
| Current assets | 29/58 | €14,005 | €14,154 | +€150 | +1.1% |
| Amounts receivable within one year | 40/41 | €4,132 | €0 | -€4,132 | -100.0% |
| Trade receivables | 40 | €4,132 | €0 | -€4,132 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,873 | €14,103 | +€4,231 | +42.9% |
| Deferred charges and accrued income | 490/1 | €0 | €51 | +€51 | |
| Total equity and liabilities | 10/49 | €45,055 | €54,253 | +€9,198 | +20.4% |
| Equity | 10/15 | €23,279 | €31,631 | +€8,352 | +35.9% |
| Contributions | 10/11 | €2,750 | €2,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,529 | €28,881 | +€8,352 | +40.7% |
| Amounts payable | 17/49 | €21,776 | €22,622 | +€847 | +3.9% |
| Amounts payable within one year | 42/48 | €21,776 | €22,622 | +€847 | +3.9% |
| Trade debts | 44 | €333 | €335 | +€2 | +0.7% |
| Suppliers | 440/4 | €333 | €335 | +€2 | +0.7% |
| Advances received on contracts in progress | 46 | €5,000 | €0 | -€5,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,637 | €8,074 | +€437 | +5.7% |
| Taxes | 450/3 | €5,954 | €8,074 | +€2,120 | +35.6% |
| Remuneration and social security | 454/9 | €1,683 | €0 | -€1,683 | -100.0% |
| Other amounts payable | 47/48 | €8,806 | €14,213 | +€5,407 | +61.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €176 | +€176 | |
| Other operating charges | 640/8 | €533 | €69 | -€464 | -87.1% |
| Gross operating margin | 9900 | €15,918 | €9,954 | -€5,964 | -37.5% |
| Operating profit (loss) | 9901 | €15,384 | €9,709 | -€5,675 | -36.9% |
| Financial income | 75/76B | €1,050 | €1,087 | +€37 | +3.5% |
| Recurring financial income | 75 | €1,050 | €1,087 | +€37 | +3.5% |
| Financial charges | 65/66B | €107 | €177 | +€70 | +66.1% |
| Recurring financial charges | 65 | €107 | €177 | +€70 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €16,328 | €10,619 | -€5,709 | -35.0% |
| Income taxes | 67/77 | €3,266 | €2,267 | -€998 | -30.6% |
| Profit (loss) for the period | 9904 | €13,062 | €8,352 | -€4,710 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,062 | €8,352 | -€4,710 | -36.1% |
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 10 October 2026 via checked.be.