SEV: 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.
SEV
Largest movements
- Cash +€66,075
up €66,075 (+184%), from €35,957 to €102,032
mainly Trade debts (+€47,627) and Net result for the year (+€39,484)
- Receivables within one year +€15,475
up €15,475 (+5.6%), from €277,023 to €292,498
of which Other amounts receivable: +€20,847
- Trade debts +€47,627
up €47,627 (+43.9%), from €108,603 to €156,230
- Profit (loss) carried forward +€39,484
up €39,484 (+35.4%), from €111,393 to €150,877
- Debts after one year -€11,062
no longer reported in 2024 (was €11,062)
- Tax, wage and social debts +€10,545
up €10,545 (+15.3%), from €68,858 to €79,403
of which Taxes: +€6,368
- Gross operating margin +€47,041
up €47,041 (+15.6%), from €301,061 to €348,102
- Staff costs +€22,480
up €22,480 (+14.0%), from €160,407 to €182,887
- Taxes +€11,181
new in 2024: €11,181
- Depreciation -€10,525
down €10,525 (-34.7%), from €30,364 to €19,839
- Other operating charges +€6,753
up €6,753 (+8.4%), from €80,686 to €87,439
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €404,818 | €486,530 | +€81,712 | +20.2% |
| Fixed assets | 21/28 | €45,758 | €45,920 | +€162 | +0.4% |
| Tangible fixed assets | 22/27 | €31,653 | €31,815 | +€162 | +0.5% |
| Plant, machinery and equipment | 23 | €1,616 | €617 | -€999 | -61.8% |
| Furniture and vehicles | 24 | €3,437 | €21,198 | +€17,761 | +517% |
| Leasing and similar rights | 25 | €26,600 | €10,000 | -€16,600 | -62.4% |
| Financial fixed assets | 28 | €14,105 | €14,105 | = | 0.0% |
| Current assets | 29/58 | €359,060 | €440,610 | +€81,550 | +22.7% |
| Amounts receivable after more than one year | 29 | €46,080 | €46,080 | = | 0.0% |
| Other amounts receivable | 291 | €46,080 | €46,080 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €277,023 | €292,498 | +€15,475 | +5.6% |
| Trade receivables | 40 | €254,487 | €249,115 | -€5,372 | -2.1% |
| Other amounts receivable | 41 | €22,536 | €43,383 | +€20,847 | +92.5% |
| Cash at bank and in hand | 54/58 | €35,957 | €102,032 | +€66,075 | +184% |
| Total equity and liabilities | 10/49 | €404,818 | €486,530 | +€81,712 | +20.2% |
| Equity | 10/15 | €177,353 | €216,837 | +€39,484 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,360 | €47,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,500 | €45,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,393 | €150,877 | +€39,484 | +35.4% |
| Amounts payable | 17/49 | €227,465 | €269,693 | +€42,228 | +18.6% |
| Amounts payable after more than one year | 17 | €11,062 | - | -€11,062 | |
| Financial debts | 170/4 | €11,062 | - | -€11,062 | |
| Amounts payable within one year | 42/48 | €216,403 | €269,693 | +€53,290 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €38,846 | €34,060 | -€4,786 | -12.3% |
| Trade debts | 44 | €108,603 | €156,230 | +€47,627 | +43.9% |
| Suppliers | 440/4 | €108,603 | €156,230 | +€47,627 | +43.9% |
| Taxes, remuneration and social security | 45 | €68,858 | €79,403 | +€10,545 | +15.3% |
| Taxes | 450/3 | €21,716 | €28,084 | +€6,368 | +29.3% |
| Remuneration and social security | 454/9 | €47,142 | €51,319 | +€4,177 | +8.9% |
| Other amounts payable | 47/48 | €96 | - | -€96 | |
| Remuneration, social security and pensions | 62 | €160,407 | €182,887 | +€22,480 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,364 | €19,839 | -€10,525 | -34.7% |
| Other operating charges | 640/8 | €80,686 | €87,439 | +€6,753 | +8.4% |
| Gross operating margin | 9900 | €301,061 | €348,102 | +€47,041 | +15.6% |
| Operating profit (loss) | 9901 | €29,604 | €57,937 | +€28,333 | +95.7% |
| Financial charges | 65/66B | €4,375 | €7,272 | +€2,897 | +66.2% |
| Recurring financial charges | 65 | €4,375 | €7,272 | +€2,897 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €25,229 | €50,665 | +€25,436 | +101% |
| Income taxes | 67/77 | - | €11,181 | +€11,181 | |
| Profit (loss) for the period | 9904 | €25,229 | €39,484 | +€14,255 | +56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,229 | €39,484 | +€14,255 | +56.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.