SESAME: 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.
SESAME
Largest movements
- Tangible fixed assets +€57,219
up €57,219 (+12.5%), from €456,136 to €513,355
- Cash -€56,871
down €56,871 (-89.3%), from €63,658 to €6,788
mainly Investment in fixed assets (net) (-€73,201) and Other debts (-€31,000)
- Other debts -€31,000
down €31,000 (-6.3%), from €492,727 to €461,727
- Profit (loss) carried forward +€28,226
up €28,226 (+55.2%), from -€51,095 to -€22,869
- Accrued charges and deferred income +€5,786
up €5,786 (+72.2%), from €8,011 to €13,797
- Depreciation -€54,228
down €54,228 (-77.2%), from €70,211 to €15,982
- Gross operating margin +€21,900
up €21,900 (+60.3%), from €36,330 to €58,230
- Other operating charges +€1,386
up €1,386 (+20.3%), from €6,810 to €8,195
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 | €531,741 | €534,669 | +€2,928 | +0.6% |
| Fixed assets | 21/28 | €456,136 | €513,355 | +€57,219 | +12.5% |
| Tangible fixed assets | 22/27 | €456,136 | €513,355 | +€57,219 | +12.5% |
| Land and buildings | 22 | €456,136 | €513,355 | +€57,219 | +12.5% |
| Current assets | 29/58 | €75,605 | €21,314 | -€54,291 | -71.8% |
| Amounts receivable within one year | 40/41 | €11,947 | €14,527 | +€2,580 | +21.6% |
| Trade receivables | 40 | €11,947 | €14,527 | +€2,580 | +21.6% |
| Cash at bank and in hand | 54/58 | €63,658 | €6,788 | -€56,871 | -89.3% |
| Total equity and liabilities | 10/49 | €531,741 | €534,669 | +€2,928 | +0.6% |
| Equity | 10/15 | €30,710 | €58,936 | +€28,226 | +91.9% |
| Contributions | 10/11 | €81,805 | €81,805 | = | 0.0% |
| Capital | 10 | €81,805 | €81,805 | = | 0.0% |
| Issued capital | 100 | €81,805 | €81,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,095 | -€22,869 | +€28,226 | +55.2% |
| Amounts payable | 17/49 | €501,031 | €475,733 | -€25,298 | -5.0% |
| Amounts payable within one year | 42/48 | €493,020 | €461,937 | -€31,084 | -6.3% |
| Trade debts | 44 | €294 | €210 | -€84 | -28.6% |
| Suppliers | 440/4 | €294 | €210 | -€84 | -28.6% |
| Other amounts payable | 47/48 | €492,727 | €461,727 | -€31,000 | -6.3% |
| Accrued charges and deferred income | 492/3 | €8,011 | €13,797 | +€5,786 | +72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,211 | €15,982 | -€54,228 | -77.2% |
| Other operating charges | 640/8 | €6,810 | €8,195 | +€1,386 | +20.3% |
| Gross operating margin | 9900 | €36,330 | €58,230 | +€21,900 | +60.3% |
| Operating profit (loss) | 9901 | -€40,691 | €34,052 | +€74,743 | |
| Financial charges | 65/66B | €6,369 | €5,826 | -€543 | -8.5% |
| Recurring financial charges | 65 | €6,369 | €5,826 | -€543 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€47,060 | €28,226 | +€75,285 | |
| Profit (loss) for the period | 9904 | -€47,060 | €28,226 | +€75,285 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,060 | €28,226 | +€75,285 |
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.