SEVELEC: 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.
SEVELEC
Largest movements
- Tangible fixed assets -€74,140
down €74,140 (-13.1%), from €566,706 to €492,566
of which Land and buildings: -€54,886
- Cash +€23,365
up €23,365 (+92.3%), from €25,306 to €48,671
mainly Depreciation (+€102,253) and Trade debts (+€18,465)
- Receivables within one year +€15,079
up €15,079 (+11.5%), from €130,820 to €145,900
of which Trade receivables: +€8,490
- Stocks and contracts -€12,190
down €12,190 (-17.8%), from €68,315 to €56,125
- Debts after one year -€44,523
down €44,523 (-12.5%), from €357,438 to €312,915
- Tax, wage and social debts -€33,237
down €33,237 (-93.5%), from €35,560 to €2,324
- Trade debts +€18,465
up €18,465 (+29.1%), from €63,459 to €81,924
- Current portion of long-term debt +€16,441
up €16,441 (+218.7%), from €7,518 to €23,959
- Depreciation +€58,380
up €58,380 (+133.1%), from €43,873 to €102,253
- Financial charges +€17,583
up €17,583 (+305.4%), from €5,756 to €23,339
of which Financial charges: +€16,193
- Taxes -€15,491
down €15,491 (-99.1%), from €15,631 to €140
- Write-downs +€3,755
new in 2024: €3,755
- Gross operating margin -€3,614
down €3,614 (-2.8%), from €130,592 to €126,978
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €791,148 | €743,262 | -€47,886 | -6.1% |
| Fixed assets | 21/28 | €566,706 | €492,566 | -€74,140 | -13.1% |
| Tangible fixed assets | 22/27 | €566,706 | €492,566 | -€74,140 | -13.1% |
| Land and buildings | 22 | €347,989 | €293,103 | -€54,886 | -15.8% |
| Plant, machinery and equipment | 23 | €17,412 | €23,413 | +€6,001 | +34.5% |
| Furniture and vehicles | 24 | €85,153 | €63,153 | -€22,000 | -25.8% |
| Other tangible fixed assets | 26 | €116,152 | €112,897 | -€3,256 | -2.8% |
| Current assets | 29/58 | €224,441 | €250,695 | +€26,254 | +11.7% |
| Stocks and contracts in progress | 3 | €68,315 | €56,125 | -€12,190 | -17.8% |
| Stocks | 30/36 | €68,315 | €56,125 | -€12,190 | -17.8% |
| Amounts receivable within one year | 40/41 | €130,820 | €145,900 | +€15,079 | +11.5% |
| Trade receivables | 40 | €114,747 | €123,237 | +€8,490 | +7.4% |
| Other amounts receivable | 41 | €16,073 | €22,662 | +€6,589 | +41.0% |
| Cash at bank and in hand | 54/58 | €25,306 | €48,671 | +€23,365 | +92.3% |
| Total equity and liabilities | 10/49 | €791,148 | €743,262 | -€47,886 | -6.1% |
| Equity | 10/15 | €233,958 | €228,691 | -€5,268 | -2.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €228,958 | €223,691 | -€5,268 | -2.3% |
| Distributable reserves | 133 | €228,958 | €223,691 | -€5,268 | -2.3% |
| Amounts payable | 17/49 | €557,189 | €514,571 | -€42,619 | -7.6% |
| Amounts payable after more than one year | 17 | €357,438 | €312,915 | -€44,523 | -12.5% |
| Financial debts | 170/4 | €357,438 | €312,915 | -€44,523 | -12.5% |
| Amounts payable within one year | 42/48 | €199,751 | €201,656 | +€1,904 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €7,518 | €23,959 | +€16,441 | +218.7% |
| Trade debts | 44 | €63,459 | €81,924 | +€18,465 | +29.1% |
| Suppliers | 440/4 | €63,459 | €81,924 | +€18,465 | +29.1% |
| Taxes, remuneration and social security | 45 | €35,560 | €2,324 | -€33,237 | -93.5% |
| Taxes | 450/3 | €35,560 | €2,324 | -€33,237 | -93.5% |
| Other amounts payable | 47/48 | €93,214 | €93,449 | +€234 | +0.3% |
| Non-recurring operating income | 76A | - | €1,080 | +€1,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,873 | €102,253 | +€58,380 | +133.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,755 | +€3,755 | |
| Other operating charges | 640/8 | €1,792 | €3,423 | +€1,631 | +91.0% |
| Gross operating margin | 9900 | €130,592 | €126,978 | -€3,614 | -2.8% |
| Operating profit (loss) | 9901 | €84,927 | €17,548 | -€67,379 | -79.3% |
| Financial income | 75/76B | €110 | €663 | +€553 | +503.5% |
| Recurring financial income | 75 | €110 | €663 | +€553 | +503.5% |
| Financial charges | 65/66B | €5,756 | €23,339 | +€17,583 | +305.4% |
| Recurring financial charges | 65 | €5,506 | €21,699 | +€16,193 | +294.1% |
| Non-recurring financial charges | 66B | €250 | €1,640 | +€1,390 | +556.0% |
| Profit (loss) for the period before taxes | 9903 | €79,281 | -€5,128 | -€84,409 | |
| Income taxes | 67/77 | €15,631 | €140 | -€15,491 | -99.1% |
| Profit (loss) for the period | 9904 | €63,650 | -€5,268 | -€68,917 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,650 | -€5,268 | -€68,917 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.