SESAN: 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.
SESAN
Largest movements
- Receivables within one year -€94,214
down €94,214 (-84.0%), from €112,161 to €17,947
- Tangible fixed assets -€1,909
down €1,909 (-3.0%), from €64,273 to €62,364
- Reserves -€96,957
no longer reported in 2025 (was €96,957)
- Profit (loss) carried forward +€92,784
up €92,784, from -€58,388 to €34,396
- Trade debts -€81,959
down €81,959 (-99.2%), from €82,614 to €655
- Provisions -€31,674
no longer reported in 2025 (was €31,674)
- Tax, wage and social debts +€20,941
new in 2025: €20,941
- Taxes +€30,501
new in 2025: €30,501
- Gross operating margin -€2,549
down €2,549, from €991 to -€1,558
- Financial charges +€1,616
up €1,616 (+597.5%), from €271 to €1,887
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 | €177,857 | €81,492 | -€96,365 | -54.2% |
| Fixed assets | 21/28 | €64,273 | €62,364 | -€1,909 | -3.0% |
| Tangible fixed assets | 22/27 | €64,273 | €62,364 | -€1,909 | -3.0% |
| Land and buildings | 22 | €64,273 | €62,364 | -€1,909 | -3.0% |
| Current assets | 29/58 | €113,585 | €19,128 | -€94,457 | -83.2% |
| Amounts receivable within one year | 40/41 | €112,161 | €17,947 | -€94,214 | -84.0% |
| Other amounts receivable | 41 | €112,161 | €17,947 | -€94,214 | -84.0% |
| Cash at bank and in hand | 54/58 | €1,424 | €1,181 | -€243 | -17.0% |
| Total equity and liabilities | 10/49 | €177,857 | €81,492 | -€96,365 | -54.2% |
| Equity | 10/15 | €63,569 | €59,396 | -€4,173 | -6.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €96,957 | - | -€96,957 | |
| Tax-exempt reserves | 132 | €96,957 | - | -€96,957 | |
| Profit (loss) carried forward | 14 | -€58,388 | €34,396 | +€92,784 | |
| Provisions and deferred taxes | 16 | €31,674 | - | -€31,674 | |
| Deferred taxes | 168 | €31,674 | - | -€31,674 | |
| Amounts payable | 17/49 | €82,614 | €22,096 | -€60,518 | -73.3% |
| Amounts payable within one year | 42/48 | €82,614 | €21,596 | -€61,018 | -73.9% |
| Trade debts | 44 | €82,614 | €655 | -€81,959 | -99.2% |
| Suppliers | 440/4 | €82,614 | €655 | -€81,959 | -99.2% |
| Taxes, remuneration and social security | 45 | - | €20,941 | +€20,941 | |
| Taxes | 450/3 | - | €20,941 | +€20,941 | |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,909 | €1,909 | -€0 | 0.0% |
| Gross operating margin | 9900 | €991 | -€1,558 | -€2,549 | |
| Operating profit (loss) | 9901 | -€918 | -€3,467 | -€2,549 | -277.5% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €271 | €1,887 | +€1,616 | +597.5% |
| Recurring financial charges | 65 | €271 | €1,887 | +€1,616 | +597.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,189 | -€5,346 | -€4,157 | -349.6% |
| Transfer from deferred taxes | 780 | €829 | €31,674 | +€30,845 | +3721.9% |
| Income taxes | 67/77 | - | €30,501 | +€30,501 | |
| Profit (loss) for the period | 9904 | -€360 | -€4,173 | -€3,813 | -1058.3% |
| Transfer from tax-exempt reserves | 789 | €553 | €96,957 | +€96,405 | +17448.8% |
| Profit (loss) for the period to be appropriated | 9905 | €192 | €92,784 | +€92,592 | +48164.7% |
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.