SEVACS: 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.
SEVACS
Largest movements
- Tangible fixed assets -€13,722
down €13,722 (-5.7%), from €240,047 to €226,325
of which Land and buildings: -€10,583
- Cash -€4,254
down €4,254 (-4.2%), from €100,443 to €96,189
mainly Short-term financial debts (-€10,200) and Current portion of long-term debt (-€4,919)
- Short-term financial debts -€10,200
down €10,200 (-74.9%), from €13,628 to €3,427
- Current portion of long-term debt -€4,919
down €4,919 (-61.8%), from €7,953 to €3,034
- Depreciation -€23,718
down €23,718 (-59.0%), from €40,176 to €16,458
- Gross operating margin -€10,562
down €10,562 (-29.8%), from €35,429 to €24,868
- Other operating charges -€1,376
down €1,376 (-19.9%), from €6,905 to €5,529
- Taxes +€1,198
up €1,198 (+14310.3%), from €8 to €1,206
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 | €340,717 | €325,144 | -€15,573 | -4.6% |
| Fixed assets | 21/28 | €240,047 | €226,325 | -€13,722 | -5.7% |
| Tangible fixed assets | 22/27 | €240,047 | €226,325 | -€13,722 | -5.7% |
| Land and buildings | 22 | €223,624 | €213,041 | -€10,583 | -4.7% |
| Plant, machinery and equipment | 23 | €7,071 | €10,847 | +€3,776 | +53.4% |
| Furniture and vehicles | 24 | €6,112 | €1,929 | -€4,183 | -68.4% |
| Other tangible fixed assets | 26 | €3,240 | €509 | -€2,731 | -84.3% |
| Current assets | 29/58 | €100,670 | €98,819 | -€1,851 | -1.8% |
| Amounts receivable within one year | 40/41 | €227 | €2,630 | +€2,403 | +1060.8% |
| Other amounts receivable | 41 | €227 | €2,630 | +€2,403 | +1060.8% |
| Cash at bank and in hand | 54/58 | €100,443 | €96,189 | -€4,254 | -4.2% |
| Total equity and liabilities | 10/49 | €340,717 | €325,144 | -€15,573 | -4.6% |
| Equity | 10/15 | €199,610 | €200,286 | +€676 | +0.3% |
| Contributions | 10/11 | €254,006 | €254,006 | = | 0.0% |
| Capital | 10 | €254,006 | €254,006 | = | 0.0% |
| Issued capital | 100 | €254,006 | €254,006 | = | 0.0% |
| Revaluation surpluses | 12 | €103,523 | €103,523 | = | 0.0% |
| Reserves | 13 | €4,425 | €4,425 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,425 | €4,425 | = | 0.0% |
| Legal reserve | 130 | €4,425 | €4,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€162,344 | -€161,668 | +€676 | +0.4% |
| Amounts payable | 17/49 | €141,106 | €124,858 | -€16,249 | -11.5% |
| Amounts payable after more than one year | 17 | €4,794 | €2,726 | -€2,068 | -43.1% |
| Financial debts | 170/4 | €4,794 | €2,726 | -€2,068 | -43.1% |
| Amounts payable within one year | 42/48 | €136,313 | €122,132 | -€14,181 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €7,953 | €3,034 | -€4,919 | -61.8% |
| Financial debts | 43 | €13,628 | €3,427 | -€10,200 | -74.9% |
| Credit institutions | 430/8 | €13,628 | €3,427 | -€10,200 | -74.9% |
| Trade debts | 44 | €1,521 | €401 | -€1,120 | -73.6% |
| Suppliers | 440/4 | €1,521 | €401 | -€1,120 | -73.6% |
| Taxes, remuneration and social security | 45 | - | €1,206 | +€1,206 | |
| Taxes | 450/3 | - | €1,206 | +€1,206 | |
| Other amounts payable | 47/48 | €113,212 | €114,064 | +€852 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,176 | €16,458 | -€23,718 | -59.0% |
| Other operating charges | 640/8 | €6,905 | €5,529 | -€1,376 | -19.9% |
| Gross operating margin | 9900 | €35,429 | €24,868 | -€10,562 | -29.8% |
| Operating profit (loss) | 9901 | -€11,651 | €2,880 | +€14,532 | |
| Financial charges | 65/66B | €1,020 | €998 | -€21 | -2.1% |
| Recurring financial charges | 65 | €1,020 | €998 | -€21 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,671 | €1,882 | +€14,553 | |
| Income taxes | 67/77 | €8 | €1,206 | +€1,198 | +14310.3% |
| Profit (loss) for the period | 9904 | -€12,679 | €676 | +€13,355 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,679 | €676 | +€13,355 |
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 7 October 2026 via checked.be.