SEVA: 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.
SEVA
Largest movements
- Tangible fixed assets -€259,032
down €259,032 (-4.0%), from €6.4m to €6.2m
- Debts after one year -€393,240
down €393,240 (-8.4%), from €4.7m to €4.3m
- Reserves +€390,864
up €390,864 (+39.5%), from €989,800 to €1.4m
- Other debts -€259,738
down €259,738 (-41.5%), from €626,369 to €366,632
- Financial income -€96,868
down €96,868 (-24.4%), from €396,797 to €299,929
- Depreciation -€24,716
down €24,716 (-8.6%), from €288,180 to €263,464
- Taxes +€22,036
up €22,036 (+219%), from €10,050 to €32,086
- Financial charges -€18,510
down €18,510 (-12.3%), from €150,369 to €131,859
- Gross operating margin +€15,881
up €15,881 (+3.0%), from €537,273 to €553,154
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.
Derived cash bridge
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 | €6,742,618 | €6,510,395 | -€232,223 | -3.4% |
| Fixed assets | 21/28 | €6,641,930 | €6,382,898 | -€259,032 | -3.9% |
| Tangible fixed assets | 22/27 | €6,443,766 | €6,184,734 | -€259,032 | -4.0% |
| Land and buildings | 22 | €6,443,766 | €6,184,734 | -€259,032 | -4.0% |
| Financial fixed assets | 28 | €198,164 | €198,164 | = | 0.0% |
| Current assets | 29/58 | €100,688 | €127,497 | +€26,810 | +26.6% |
| Amounts receivable within one year | 40/41 | €92,644 | €120,824 | +€28,180 | +30.4% |
| Trade receivables | 40 | €90,144 | €93,093 | +€2,949 | +3.3% |
| Other amounts receivable | 41 | €2,500 | €27,731 | +€25,231 | +1,009% |
| Cash at bank and in hand | 54/58 | €6,374 | €6,171 | -€203 | -3.2% |
| Deferred charges and accrued income | 490/1 | €1,670 | €503 | -€1,167 | -69.9% |
| Total equity and liabilities | 10/49 | €6,742,618 | €6,510,395 | -€232,223 | -3.4% |
| Equity | 10/15 | €1,020,787 | €1,411,651 | +€390,864 | +38.3% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €989,800 | €1,380,664 | +€390,864 | +39.5% |
| Distributable reserves | 133 | €989,800 | €1,380,664 | +€390,864 | +39.5% |
| Amounts payable | 17/49 | €5,721,831 | €5,098,744 | -€623,087 | -10.9% |
| Amounts payable after more than one year | 17 | €4,678,752 | €4,285,512 | -€393,240 | -8.4% |
| Financial debts | 170/4 | €4,678,752 | €4,285,512 | -€393,240 | -8.4% |
| Amounts payable within one year | 42/48 | €1,032,525 | €803,720 | -€228,805 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €382,250 | €392,882 | +€10,632 | +2.8% |
| Financial debts | 43 | €13,072 | €6,680 | -€6,392 | -48.9% |
| Credit institutions | 430/8 | €13,072 | €904 | -€12,168 | -93.1% |
| Other loans | 439 | - | €5,776 | +€5,776 | |
| Trade debts | 44 | €784 | €15,440 | +€14,656 | +1,869% |
| Suppliers | 440/4 | €784 | €15,440 | +€14,656 | +1,869% |
| Taxes, remuneration and social security | 45 | €10,050 | €22,086 | +€12,036 | +120% |
| Taxes | 450/3 | €10,050 | €22,086 | +€12,036 | +120% |
| Other amounts payable | 47/48 | €626,369 | €366,632 | -€259,738 | -41.5% |
| Accrued charges and deferred income | 492/3 | €10,554 | €9,512 | -€1,042 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288,180 | €263,464 | -€24,716 | -8.6% |
| Other operating charges | 640/8 | €30,620 | €34,809 | +€4,189 | +13.7% |
| Gross operating margin | 9900 | €537,273 | €553,154 | +€15,881 | +3.0% |
| Operating profit (loss) | 9901 | €218,473 | €254,880 | +€36,408 | +16.7% |
| Financial income | 75/76B | €396,797 | €299,929 | -€96,868 | -24.4% |
| Recurring financial income | 75 | €396,797 | €299,929 | -€96,868 | -24.4% |
| Financial charges | 65/66B | €150,369 | €131,859 | -€18,510 | -12.3% |
| Recurring financial charges | 65 | €150,369 | €131,859 | -€18,510 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €464,900 | €422,950 | -€41,950 | -9.0% |
| Income taxes | 67/77 | €10,050 | €32,086 | +€22,036 | +219% |
| Profit (loss) for the period | 9904 | €454,851 | €390,864 | -€63,986 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €454,851 | €390,864 | -€63,986 | -14.1% |
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 15 October 2026 via checked.be.