SEVAN: 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.
SEVAN
Largest movements
- Cash -€27,447
down €27,447 (-79.6%), from €34,493 to €7,046
mainly Investment in fixed assets (net) (-€36,272) and Tax, wage and social debts (-€5,141)
- Tangible fixed assets +€24,933
up €24,933 (+16.7%), from €149,038 to €173,971
of which Land and buildings: +€24,933
- Receivables after one year -€5,906
down €5,906 (-28.0%), from €21,061 to €15,155
- Receivables within one year +€4,153
up €4,153 (+2.7%), from €153,688 to €157,841
- Tax, wage and social debts -€5,141
down €5,141 (-80.8%), from €6,362 to €1,221
- Reserves +€5,099
up €5,099 (+5.4%), from €93,859 to €98,958
of which Distributable reserves: +€4,839
- Other debts -€4,208
down €4,208 (-52.7%), from €7,984 to €3,776
- Depreciation +€2,838
up €2,838 (+33.4%), from €8,501 to €11,339
- Financial income +€1,387
up €1,387 (+38.4%), from €3,608 to €4,996
- Gross operating margin +€1,307
up €1,307 (+6.6%), from €19,649 to €20,955
- Taxes -€933
down €933 (-43.8%), from €2,129 to €1,196
- Other operating charges +€249
up €249 (+3.1%), from €7,992 to €8,241
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 | €358,831 | €354,581 | -€4,250 | -1.2% |
| Fixed assets | 21/28 | €149,038 | €173,971 | +€24,933 | +16.7% |
| Tangible fixed assets | 22/27 | €149,038 | €173,971 | +€24,933 | +16.7% |
| Land and buildings | 22 | €149,038 | €173,971 | +€24,933 | +16.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €209,792 | €180,609 | -€29,183 | -13.9% |
| Amounts receivable after more than one year | 29 | €21,061 | €15,155 | -€5,906 | -28.0% |
| Trade receivables | 290 | €21,061 | €15,155 | -€5,906 | -28.0% |
| Amounts receivable within one year | 40/41 | €153,688 | €157,841 | +€4,153 | +2.7% |
| Other amounts receivable | 41 | €153,688 | €157,841 | +€4,153 | +2.7% |
| Cash at bank and in hand | 54/58 | €34,493 | €7,046 | -€27,447 | -79.6% |
| Deferred charges and accrued income | 490/1 | €550 | €567 | +€16 | +3.0% |
| Total equity and liabilities | 10/49 | €358,831 | €354,581 | -€4,250 | -1.2% |
| Equity | 10/15 | €344,485 | €349,584 | +€5,099 | +1.5% |
| Contributions | 10/11 | €250,626 | €250,626 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Outside capital | 11 | €626 | €626 | = | 0.0% |
| Share premium | 1100/10 | €626 | €626 | = | 0.0% |
| Reserves | 13 | €93,859 | €98,958 | +€5,099 | +5.4% |
| Non-distributable reserves | 130/1 | €8,551 | €8,811 | +€260 | +3.0% |
| Legal reserve | 130 | €8,551 | €8,811 | +€260 | +3.0% |
| Distributable reserves | 133 | €85,308 | €90,147 | +€4,839 | +5.7% |
| Amounts payable | 17/49 | €14,346 | €4,997 | -€9,349 | -65.2% |
| Amounts payable within one year | 42/48 | €14,346 | €4,997 | -€9,349 | -65.2% |
| Taxes, remuneration and social security | 45 | €6,362 | €1,221 | -€5,141 | -80.8% |
| Taxes | 450/3 | €6,362 | €1,221 | -€5,141 | -80.8% |
| Other amounts payable | 47/48 | €7,984 | €3,776 | -€4,208 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,501 | €11,339 | +€2,838 | +33.4% |
| Other operating charges | 640/8 | €7,992 | €8,241 | +€249 | +3.1% |
| Gross operating margin | 9900 | €19,649 | €20,955 | +€1,307 | +6.6% |
| Operating profit (loss) | 9901 | €3,155 | €1,375 | -€1,781 | -56.4% |
| Financial income | 75/76B | €3,608 | €4,996 | +€1,387 | +38.4% |
| Recurring financial income | 75 | €3,608 | €4,996 | +€1,387 | +38.4% |
| Financial charges | 65/66B | €74 | €75 | +€1 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€1 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €6,690 | €6,295 | -€395 | -5.9% |
| Income taxes | 67/77 | €2,129 | €1,196 | -€933 | -43.8% |
| Profit (loss) for the period | 9904 | €4,562 | €5,099 | +€538 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,562 | €5,099 | +€538 | +11.8% |
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.