SESTRAL: what changed
Two fiscal 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.
SESTRAL
Largest movements
- Current investments +€300,003
new in 2025: €300,003
- Cash -€236,355
down €236,355 (-43.9%), from €538,576 to €302,221
mainly Current investments (-€300,003) and Contributions, distributions and other (-€35,000)
- Tangible fixed assets -€79,793
down €79,793 (-4.2%), from €1.9m to €1.8m
of which Land and buildings: -€61,250
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€16,546
up €16,546 (+24.2%), from €68,512 to €85,058
- Gross operating margin -€8,127
down €8,127 (-3.8%), from €215,796 to €207,669
- Taxes -€7,115
down €7,115 (-53.4%), from €13,324 to €6,209
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 | €2,461,594 | €2,440,124 | -€21,470 | -0.9% |
| Fixed assets | 21/28 | €1,900,328 | €1,820,535 | -€79,793 | -4.2% |
| Tangible fixed assets | 22/27 | €1,900,328 | €1,820,535 | -€79,793 | -4.2% |
| Land and buildings | 22 | €1,835,284 | €1,774,034 | -€61,250 | -3.3% |
| Plant, machinery and equipment | 23 | €163 | €0 | -€163 | -100.0% |
| Furniture and vehicles | 24 | €64,881 | €46,501 | -€18,380 | -28.3% |
| Current assets | 29/58 | €561,267 | €619,589 | +€58,323 | +10.4% |
| Amounts receivable within one year | 40/41 | €19,253 | €13,602 | -€5,651 | -29.4% |
| Trade receivables | 40 | €14,053 | €4,775 | -€9,278 | -66.0% |
| Other amounts receivable | 41 | €5,199 | €8,826 | +€3,627 | +69.8% |
| Current investments | 50/53 | - | €300,003 | +€300,003 | |
| Cash at bank and in hand | 54/58 | €538,576 | €302,221 | -€236,355 | -43.9% |
| Deferred charges and accrued income | 490/1 | €3,438 | €3,763 | +€325 | +9.5% |
| Total equity and liabilities | 10/49 | €2,461,594 | €2,440,124 | -€21,470 | -0.9% |
| Equity | 10/15 | €1,221,809 | €1,200,363 | -€21,446 | -1.8% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €21,809 | €363 | -€21,446 | -98.3% |
| Distributable reserves | 133 | €21,809 | €363 | -€21,446 | -98.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,239,785 | €1,239,761 | -€25 | 0.0% |
| Amounts payable after more than one year | 17 | €1,200,000 | €1,200,000 | = | 0.0% |
| Financial debts | 170/4 | €1,200,000 | €1,200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,267 | €37,725 | +€459 | +1.2% |
| Trade debts | 44 | €5,148 | €518 | -€4,630 | -89.9% |
| Suppliers | 440/4 | €5,148 | €518 | -€4,630 | -89.9% |
| Taxes, remuneration and social security | 45 | €2,119 | €2,207 | +€88 | +4.2% |
| Taxes | 450/3 | €2,119 | €2,207 | +€88 | +4.2% |
| Other amounts payable | 47/48 | €30,000 | €35,000 | +€5,000 | +16.7% |
| Accrued charges and deferred income | 492/3 | €2,519 | €2,035 | -€483 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,273 | €79,793 | +€520 | +0.7% |
| Other operating charges | 640/8 | €22,730 | €23,178 | +€448 | +2.0% |
| Gross operating margin | 9900 | €215,796 | €207,669 | -€8,127 | -3.8% |
| Operating profit (loss) | 9901 | €113,794 | €104,698 | -€9,096 | -8.0% |
| Financial income | 75/76B | €0 | €123 | +€123 | |
| Recurring financial income | 75 | €0 | €123 | +€123 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €68,512 | €85,058 | +€16,546 | +24.2% |
| Recurring financial charges | 65 | €68,512 | €85,058 | +€16,546 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €45,282 | €19,763 | -€25,519 | -56.4% |
| Income taxes | 67/77 | €13,324 | €6,209 | -€7,115 | -53.4% |
| Profit (loss) for the period | 9904 | €31,959 | €13,554 | -€18,404 | -57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,959 | €13,554 | -€18,404 | -57.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.