SEVAN JANSSENS: 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.
SEVAN JANSSENS
Largest movements
- Receivables within one year +€319,288
up €319,288 (+201%), from €159,049 to €478,337
of which Trade receivables: +€323,946
- Tangible fixed assets +€57,754
up €57,754 (+73.1%), from €78,986 to €136,740
of which Leasing and similar rights: +€70,551
- Cash +€53,507
up €53,507 (+354%), from €15,102 to €68,609
mainly Debts after one year (+€372,861) and Current portion of long-term debt (+€215,412)
- Intangible fixed assets +€21,034
up €21,034 (+25.0%), from €84,183 to €105,217
- Stocks and contracts +€19,433
up €19,433 (+3.0%), from €651,282 to €670,715
of which Contracts in progress: +€25,200
- Debts after one year +€372,861
up €372,861 (+134%), from €277,243 to €650,104
- Current portion of long-term debt +€215,412
up €215,412 (+222%), from €97,201 to €312,613
- Short-term financial debts -€154,063
no longer reported in 2025 (was €154,063)
- Trade debts +€86,446
up €86,446 (+40.6%), from €212,882 to €299,328
- Profit (loss) carried forward -€47,234
down €47,234 (-128%), from -€36,827 to -€84,061
- Gross operating margin -€59,442
down €59,442 (-15.5%), from €383,802 to €324,360
- Staff costs +€16,938
up €16,938 (+6.1%), from €276,626 to €293,564
- Depreciation -€10,810
down €10,810 (-19.0%), from €56,859 to €46,049
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 | €1,008,862 | €1,489,388 | +€480,526 | +47.6% |
| Fixed assets | 21/28 | €163,169 | €241,957 | +€78,788 | +48.3% |
| Intangible fixed assets | 21 | €84,183 | €105,217 | +€21,034 | +25.0% |
| Tangible fixed assets | 22/27 | €78,986 | €136,740 | +€57,754 | +73.1% |
| Plant, machinery and equipment | 23 | €68,057 | €59,209 | -€8,848 | -13.0% |
| Furniture and vehicles | 24 | €10,929 | €6,980 | -€3,949 | -36.1% |
| Leasing and similar rights | 25 | - | €70,551 | +€70,551 | |
| Current assets | 29/58 | €845,693 | €1,247,431 | +€401,738 | +47.5% |
| Stocks and contracts in progress | 3 | €651,282 | €670,715 | +€19,433 | +3.0% |
| Stocks | 30/36 | €446,482 | €440,715 | -€5,767 | -1.3% |
| Contracts in progress | 37 | €204,800 | €230,000 | +€25,200 | +12.3% |
| Amounts receivable within one year | 40/41 | €159,049 | €478,337 | +€319,288 | +201% |
| Trade receivables | 40 | €151,125 | €475,071 | +€323,946 | +214% |
| Other amounts receivable | 41 | €7,924 | €3,266 | -€4,658 | -58.8% |
| Cash at bank and in hand | 54/58 | €15,102 | €68,609 | +€53,507 | +354% |
| Deferred charges and accrued income | 490/1 | €20,260 | €29,770 | +€9,510 | +46.9% |
| Total equity and liabilities | 10/49 | €1,008,862 | €1,489,388 | +€480,526 | +47.6% |
| Equity | 10/15 | €188,173 | €140,939 | -€47,234 | -25.1% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,827 | -€84,061 | -€47,234 | -128% |
| Amounts payable | 17/49 | €820,689 | €1,348,449 | +€527,760 | +64.3% |
| Amounts payable after more than one year | 17 | €277,243 | €650,104 | +€372,861 | +134% |
| Financial debts | 170/4 | €277,243 | €650,104 | +€372,861 | +134% |
| Amounts payable within one year | 42/48 | €543,446 | €695,217 | +€151,771 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €97,201 | €312,613 | +€215,412 | +222% |
| Financial debts | 43 | €154,063 | - | -€154,063 | |
| Credit institutions | 430/8 | €154,063 | - | -€154,063 | |
| Trade debts | 44 | €212,882 | €299,328 | +€86,446 | +40.6% |
| Suppliers | 440/4 | €212,882 | €299,328 | +€86,446 | +40.6% |
| Taxes, remuneration and social security | 45 | €68,302 | €83,276 | +€14,974 | +21.9% |
| Taxes | 450/3 | €53,182 | €63,951 | +€10,769 | +20.2% |
| Remuneration and social security | 454/9 | €15,120 | €19,325 | +€4,205 | +27.8% |
| Other amounts payable | 47/48 | €10,998 | - | -€10,998 | |
| Accrued charges and deferred income | 492/3 | - | €3,128 | +€3,128 | |
| Remuneration, social security and pensions | 62 | €276,626 | €293,564 | +€16,938 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,859 | €46,049 | -€10,810 | -19.0% |
| Other operating charges | 640/8 | €17,882 | €20,376 | +€2,494 | +13.9% |
| Non-recurring operating charges | 66A | €5,071 | - | -€5,071 | |
| Gross operating margin | 9900 | €383,802 | €324,360 | -€59,442 | -15.5% |
| Operating profit (loss) | 9901 | €27,364 | -€35,629 | -€62,993 | |
| Financial income | 75/76B | €266 | €7 | -€259 | -97.4% |
| Recurring financial income | 75 | €266 | €7 | -€259 | -97.4% |
| Financial charges | 65/66B | €13,280 | €11,612 | -€1,668 | -12.6% |
| Recurring financial charges | 65 | €13,280 | €11,612 | -€1,668 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €14,350 | -€47,234 | -€61,584 | |
| Profit (loss) for the period | 9904 | €14,350 | -€47,234 | -€61,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,350 | -€47,234 | -€61,584 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.