Sevalex: 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.
Sevalex
Largest movements
- Cash +€82,310
up €82,310 (+74.0%), from €111,290 to €193,601
mainly Current investments (+€67,500) and Net result for the year (+€38,850)
- Current investments -€67,500
down €67,500 (-42.2%), from €160,000 to €92,500
- Tangible fixed assets -€5,007
down €5,007 (-21.3%), from €23,556 to €18,548
of which Leasing and similar rights: -€4,457
- Deferred charges and accrued income -€4,130
down €4,130 (-62.3%), from €6,626 to €2,497
- Reserves +€20,318
up €20,318 (+16.3%), from €124,587 to €144,905
- Current portion of long-term debt -€5,218
down €5,218 (-55.6%), from €9,384 to €4,167
- Debts after one year -€4,167
down €4,167 (-23.3%), from €17,903 to €13,736
- Gross operating margin +€22,903
up €22,903 (+59.5%), from €38,514 to €61,417
- Taxes +€5,109
up €5,109 (+49.4%), from €10,344 to €15,454
- Depreciation +€4,652
up €4,652 (+1,311%), from €355 to €5,007
- Other operating charges +€1,867
up €1,867 (+310%), from €602 to €2,469
- Financial income +€823
up €823 (+192%), from €429 to €1,252
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 | €308,753 | €315,692 | +€6,939 | +2.2% |
| Fixed assets | 21/28 | €23,606 | €18,598 | -€5,007 | -21.2% |
| Tangible fixed assets | 22/27 | €23,556 | €18,548 | -€5,007 | -21.3% |
| Furniture and vehicles | 24 | €1,282 | €732 | -€550 | -42.9% |
| Leasing and similar rights | 25 | €22,274 | €17,817 | -€4,457 | -20.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €285,148 | €297,094 | +€11,946 | +4.2% |
| Amounts receivable within one year | 40/41 | €7,231 | €8,496 | +€1,265 | +17.5% |
| Other amounts receivable | 41 | €7,231 | €8,496 | +€1,265 | +17.5% |
| Current investments | 50/53 | €160,000 | €92,500 | -€67,500 | -42.2% |
| Cash at bank and in hand | 54/58 | €111,290 | €193,601 | +€82,310 | +74.0% |
| Deferred charges and accrued income | 490/1 | €6,626 | €2,497 | -€4,130 | -62.3% |
| Total equity and liabilities | 10/49 | €308,753 | €315,692 | +€6,939 | +2.2% |
| Equity | 10/15 | €273,632 | €294,300 | +€20,668 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,587 | €144,905 | +€20,318 | +16.3% |
| Distributable reserves | 133 | €124,587 | €144,905 | +€20,318 | +16.3% |
| Profit (loss) carried forward | 14 | €130,444 | €130,794 | +€350 | +0.3% |
| Amounts payable | 17/49 | €35,122 | €21,392 | -€13,730 | -39.1% |
| Amounts payable after more than one year | 17 | €17,903 | €13,736 | -€4,167 | -23.3% |
| Financial debts | 170/4 | €17,903 | €13,736 | -€4,167 | -23.3% |
| Amounts payable within one year | 42/48 | €17,219 | €7,656 | -€9,563 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | €9,384 | €4,167 | -€5,218 | -55.6% |
| Trade debts | 44 | €3,117 | €1,684 | -€1,433 | -46.0% |
| Suppliers | 440/4 | €3,117 | €1,684 | -€1,433 | -46.0% |
| Taxes, remuneration and social security | 45 | €4,306 | €1,806 | -€2,500 | -58.1% |
| Taxes | 450/3 | €2,500 | - | -€2,500 | |
| Remuneration and social security | 454/9 | €1,806 | €1,806 | = | 0.0% |
| Other amounts payable | 47/48 | €412 | - | -€412 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €5,007 | +€4,652 | +1,311% |
| Other operating charges | 640/8 | €602 | €2,469 | +€1,867 | +310% |
| Gross operating margin | 9900 | €38,514 | €61,417 | +€22,903 | +59.5% |
| Operating profit (loss) | 9901 | €37,557 | €53,940 | +€16,383 | +43.6% |
| Financial income | 75/76B | €429 | €1,252 | +€823 | +192% |
| Recurring financial income | 75 | €429 | €1,252 | +€823 | +192% |
| Financial charges | 65/66B | €1,044 | €889 | -€155 | -14.9% |
| Recurring financial charges | 65 | €1,044 | €889 | -€155 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €36,943 | €54,304 | +€17,361 | +47.0% |
| Income taxes | 67/77 | €10,344 | €15,454 | +€5,109 | +49.4% |
| Profit (loss) for the period | 9904 | €26,598 | €38,850 | +€12,252 | +46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,598 | €38,850 | +€12,252 | +46.1% |
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.