SEVCO: 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.
SEVCO
Largest movements
- Cash -€416,103
down €416,103 (-85.9%), from €484,173 to €68,070
mainly Contributions, distributions and other (-€362,000) and Receivables within one year (-€196,135)
- Receivables within one year +€196,135
up €196,135 (+132%), from €148,893 to €345,028
of which Other amounts receivable: +€181,033
- Current investments -€175,571
down €175,571 (-22.3%), from €785,686 to €610,114
- Stocks and contracts +€111,236
up €111,236 (+37.2%), from €298,784 to €410,021
- Tangible fixed assets -€50,814
down €50,814 (-3.8%), from €1.3m to €1.3m
of which Land and buildings: -€40,553
- Reserves -€252,980
down €252,980 (-12.0%), from €2.1m to €1.9m
- Debts after one year -€76,539
down €76,539 (-7.2%), from €1.1m to €983,957
of which Financial debts: -€76,427
- Financial income +€48,700
up €48,700 (+134%), from €36,346 to €85,046
- Gross operating margin +€32,104
up €32,104 (+17.5%), from €183,872 to €215,976
- Taxes +€26,531
up €26,531 (+70.3%), from €37,749 to €64,280
- Financial charges -€16,040
down €16,040 (-18.1%), from €88,438 to €72,398
- Other operating charges +€2,988
up €2,988 (+52.0%), from €5,748 to €8,735
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 | €3,304,985 | €2,982,775 | -€322,210 | -9.7% |
| Fixed assets | 21/28 | €1,359,186 | €1,308,372 | -€50,814 | -3.7% |
| Tangible fixed assets | 22/27 | €1,349,186 | €1,298,372 | -€50,814 | -3.8% |
| Land and buildings | 22 | €1,307,611 | €1,267,058 | -€40,553 | -3.1% |
| Furniture and vehicles | 24 | €41,575 | €31,314 | -€10,260 | -24.7% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €1,945,799 | €1,674,403 | -€271,397 | -13.9% |
| Amounts receivable after more than one year | 29 | €225,647 | €239,186 | +€13,539 | +6.0% |
| Other amounts receivable | 291 | €225,647 | €239,186 | +€13,539 | +6.0% |
| Stocks and contracts in progress | 3 | €298,784 | €410,021 | +€111,236 | +37.2% |
| Stocks | 30/36 | €298,784 | €410,021 | +€111,236 | +37.2% |
| Amounts receivable within one year | 40/41 | €148,893 | €345,028 | +€196,135 | +132% |
| Trade receivables | 40 | €20,407 | €35,510 | +€15,102 | +74.0% |
| Other amounts receivable | 41 | €128,486 | €309,519 | +€181,033 | +141% |
| Current investments | 50/53 | €785,686 | €610,114 | -€175,571 | -22.3% |
| Cash at bank and in hand | 54/58 | €484,173 | €68,070 | -€416,103 | -85.9% |
| Deferred charges and accrued income | 490/1 | €2,616 | €1,984 | -€632 | -24.2% |
| Total equity and liabilities | 10/49 | €3,304,985 | €2,982,775 | -€322,210 | -9.7% |
| Equity | 10/15 | €2,133,112 | €1,880,132 | -€252,980 | -11.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,108,112 | €1,855,132 | -€252,980 | -12.0% |
| Distributable reserves | 133 | €2,108,112 | €1,855,132 | -€252,980 | -12.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,171,874 | €1,102,643 | -€69,230 | -5.9% |
| Amounts payable after more than one year | 17 | €1,060,496 | €983,957 | -€76,539 | -7.2% |
| Financial debts | 170/4 | €1,060,384 | €983,957 | -€76,427 | -7.2% |
| Other amounts payable | 178/9 | €112 | €0 | -€112 | -100% |
| Amounts payable within one year | 42/48 | €110,583 | €117,892 | +€7,309 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €74,803 | €76,427 | +€1,624 | +2.2% |
| Trade debts | 44 | €9,403 | €14,921 | +€5,519 | +58.7% |
| Suppliers | 440/4 | €9,403 | €14,921 | +€5,519 | +58.7% |
| Taxes, remuneration and social security | 45 | €26,377 | €25,661 | -€716 | -2.7% |
| Taxes | 450/3 | €24,802 | €24,086 | -€716 | -2.9% |
| Remuneration and social security | 454/9 | €1,575 | €1,575 | = | 0.0% |
| Other amounts payable | 47/48 | - | €883 | +€883 | |
| Accrued charges and deferred income | 492/3 | €795 | €795 | = | 0.0% |
| Non-recurring operating income | 76A | - | €22,640 | +€22,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,040 | €46,587 | -€453 | -1.0% |
| Other operating charges | 640/8 | €5,748 | €8,735 | +€2,988 | +52.0% |
| Gross operating margin | 9900 | €183,872 | €215,976 | +€32,104 | +17.5% |
| Operating profit (loss) | 9901 | €131,083 | €160,653 | +€29,569 | +22.6% |
| Financial income | 75/76B | €36,346 | €85,046 | +€48,700 | +134% |
| Recurring financial income | 75 | €36,346 | €85,046 | +€48,700 | +134% |
| Financial charges | 65/66B | €88,438 | €72,398 | -€16,040 | -18.1% |
| Recurring financial charges | 65 | €88,438 | €72,398 | -€16,040 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €78,991 | €173,301 | +€94,309 | +119% |
| Income taxes | 67/77 | €37,749 | €64,280 | +€26,531 | +70.3% |
| Profit (loss) for the period | 9904 | €41,242 | €109,020 | +€67,778 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €41,242 | €109,020 | +€67,778 | +164% |
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.