Sevel: 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.
Sevel
Largest movements
- Intangible fixed assets -€13,750
down €13,750 (-42.1%), from €32,645 to €18,895
- Tangible fixed assets -€9,723
down €9,723 (-46.6%), from €20,866 to €11,143
of which Plant, machinery and equipment: -€6,329
- Stocks and contracts -€8,030
down €8,030 (-9.3%), from €86,505 to €78,475
- Cash -€3,916
down €3,916 (-5.6%), from €70,386 to €66,470
mainly Short-term financial debts (-€17,350) and Trade debts (-€8,584)
- Receivables within one year +€3,270
up €3,270 (+39.9%), from €8,192 to €11,462
of which Trade receivables: +€2,335
- Short-term financial debts -€17,350
down €17,350 (-57.6%), from €30,134 to €12,785
- Trade debts -€8,584
down €8,584 (-26.4%), from €32,540 to €23,956
- Debts after one year -€8,229
down €8,229 (-27.0%), from €30,509 to €22,280
- Other debts +€4,824
up €4,824 (+17.9%), from €26,921 to €31,744
- Tax, wage and social debts -€2,323
down €2,323 (-9.8%), from €23,596 to €21,273
of which Remuneration and social security: -€3,353
- Gross operating margin -€12,292
down €12,292 (-9.4%), from €131,126 to €118,834
- Staff costs -€9,402
down €9,402 (-9.4%), from €100,162 to €90,759
- Depreciation +€2,853
up €2,853 (+13.8%), from €20,620 to €23,473
- Taxes -€1,479
down €1,479 (-71.7%), from €2,064 to €585
- Financial charges +€1,436
up €1,436 (+78.7%), from €1,824 to €3,259
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 | €226,952 | €193,263 | -€33,690 | -14.8% |
| Fixed assets | 21/28 | €60,073 | €36,600 | -€23,473 | -39.1% |
| Intangible fixed assets | 21 | €32,645 | €18,895 | -€13,750 | -42.1% |
| Tangible fixed assets | 22/27 | €20,866 | €11,143 | -€9,723 | -46.6% |
| Plant, machinery and equipment | 23 | €17,472 | €11,143 | -€6,329 | -36.2% |
| Furniture and vehicles | 24 | €3,394 | €0 | -€3,394 | -100.0% |
| Financial fixed assets | 28 | €6,563 | €6,563 | = | 0.0% |
| Current assets | 29/58 | €166,880 | €156,662 | -€10,217 | -6.1% |
| Stocks and contracts in progress | 3 | €86,505 | €78,475 | -€8,030 | -9.3% |
| Stocks | 30/36 | €86,505 | €78,475 | -€8,030 | -9.3% |
| Amounts receivable within one year | 40/41 | €8,192 | €11,462 | +€3,270 | +39.9% |
| Trade receivables | 40 | €3,493 | €5,828 | +€2,335 | +66.9% |
| Other amounts receivable | 41 | €4,699 | €5,633 | +€935 | +19.9% |
| Cash at bank and in hand | 54/58 | €70,386 | €66,470 | -€3,916 | -5.6% |
| Deferred charges and accrued income | 490/1 | €1,797 | €256 | -€1,541 | -85.7% |
| Total equity and liabilities | 10/49 | €226,952 | €193,263 | -€33,690 | -14.8% |
| Equity | 10/15 | €74,485 | €72,371 | -€2,114 | -2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €42,000 | €42,000 | = | 0.0% |
| Distributable reserves | 133 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,485 | €10,371 | -€2,114 | -16.9% |
| Amounts payable | 17/49 | €152,467 | €120,892 | -€31,575 | -20.7% |
| Amounts payable after more than one year | 17 | €30,509 | €22,280 | -€8,229 | -27.0% |
| Financial debts | 170/4 | €30,509 | €22,280 | -€8,229 | -27.0% |
| Amounts payable within one year | 42/48 | €121,919 | €98,612 | -€23,307 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €8,728 | €8,854 | +€126 | +1.4% |
| Financial debts | 43 | €30,134 | €12,785 | -€17,350 | -57.6% |
| Credit institutions | 430/8 | €30,134 | €12,785 | -€17,350 | -57.6% |
| Trade debts | 44 | €32,540 | €23,956 | -€8,584 | -26.4% |
| Suppliers | 440/4 | €32,540 | €23,956 | -€8,584 | -26.4% |
| Taxes, remuneration and social security | 45 | €23,596 | €21,273 | -€2,323 | -9.8% |
| Taxes | 450/3 | €2,600 | €3,630 | +€1,030 | +39.6% |
| Remuneration and social security | 454/9 | €20,996 | €17,643 | -€3,353 | -16.0% |
| Other amounts payable | 47/48 | €26,921 | €31,744 | +€4,824 | +17.9% |
| Accrued charges and deferred income | 492/3 | €39 | €0 | -€39 | -100.0% |
| Turnover | 70 | €0 | €0 | = | |
| Non-recurring operating income | 76A | €6,401 | €64 | -€6,337 | -99.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €100,162 | €90,759 | -€9,402 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,620 | €23,473 | +€2,853 | +13.8% |
| Other operating charges | 640/8 | €2,681 | €2,637 | -€44 | -1.6% |
| Non-recurring operating charges | 66A | €306 | €236 | -€70 | -22.8% |
| Gross operating margin | 9900 | €131,126 | €118,834 | -€12,292 | -9.4% |
| Operating profit (loss) | 9901 | €7,358 | €1,729 | -€5,629 | -76.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +461.9% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +461.9% |
| Financial charges | 65/66B | €1,824 | €3,259 | +€1,436 | +78.7% |
| Recurring financial charges | 65 | €1,824 | €3,259 | +€1,436 | +78.7% |
| Profit (loss) for the period before taxes | 9903 | €5,534 | -€1,529 | -€7,064 | |
| Income taxes | 67/77 | €2,064 | €585 | -€1,479 | -71.7% |
| Profit (loss) for the period | 9904 | €3,470 | -€2,114 | -€5,585 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,470 | -€2,114 | -€5,585 |
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 3 October 2026 via checked.be.