SEVERINUS: 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.
SEVERINUS
Largest movements
- Stocks and contracts -€36,393
down €36,393 (-45.8%), from €79,398 to €43,005
- Tangible fixed assets -€33,958
down €33,958 (-7.9%), from €430,106 to €396,148
of which Land and buildings: -€28,156
- Cash +€13,081
up €13,081 (+50.2%), from €26,036 to €39,117
mainly Depreciation (+€38,508) and Stocks and contracts (+€36,393)
- Other debts -€19,849
down €19,849 (-16.9%), from €117,699 to €97,850
- Debts after one year -€12,971
down €12,971 (-19.5%), from €66,417 to €53,446
- Reserves -€10,830
down €10,830 (-7.7%), from €140,496 to €129,666
of which Tax-exempt reserves: -€10,830
- Current portion of long-term debt -€10,019
down €10,019 (-43.6%), from €22,989 to €12,970
- Gross operating margin -€41,287
down €41,287 (-47.7%), from €86,500 to €45,213
- Taxes -€9,956
down €9,956 (-64.8%), from €15,356 to €5,400
- Depreciation -€5,373
down €5,373 (-12.2%), from €43,881 to €38,508
- Financial charges -€2,086
down €2,086 (-18.3%), from €11,384 to €9,298
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 | €546,297 | €485,384 | -€60,913 | -11.2% |
| Fixed assets | 21/28 | €430,106 | €396,148 | -€33,958 | -7.9% |
| Tangible fixed assets | 22/27 | €430,106 | €396,148 | -€33,958 | -7.9% |
| Land and buildings | 22 | €393,813 | €365,657 | -€28,156 | -7.1% |
| Plant, machinery and equipment | 23 | €29,587 | €29,436 | -€151 | -0.5% |
| Furniture and vehicles | 24 | €6,706 | €1,055 | -€5,651 | -84.3% |
| Current assets | 29/58 | €116,191 | €89,236 | -€26,955 | -23.2% |
| Stocks and contracts in progress | 3 | €79,398 | €43,005 | -€36,393 | -45.8% |
| Stocks | 30/36 | €79,398 | €43,005 | -€36,393 | -45.8% |
| Amounts receivable within one year | 40/41 | €9,432 | €5,420 | -€4,012 | -42.5% |
| Trade receivables | 40 | €6,538 | €4,335 | -€2,203 | -33.7% |
| Other amounts receivable | 41 | €2,894 | €1,085 | -€1,809 | -62.5% |
| Cash at bank and in hand | 54/58 | €26,036 | €39,117 | +€13,081 | +50.2% |
| Deferred charges and accrued income | 490/1 | €1,325 | €1,694 | +€369 | +27.8% |
| Total equity and liabilities | 10/49 | €546,297 | €485,384 | -€60,913 | -11.2% |
| Equity | 10/15 | €277,992 | €267,657 | -€10,335 | -3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €140,496 | €129,666 | -€10,830 | -7.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €82,296 | €71,466 | -€10,830 | -13.2% |
| Distributable reserves | 133 | €52,000 | €52,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,496 | €75,991 | +€495 | +0.7% |
| Provisions and deferred taxes | 16 | €27,432 | €23,822 | -€3,610 | -13.2% |
| Deferred taxes | 168 | €27,432 | €23,822 | -€3,610 | -13.2% |
| Amounts payable | 17/49 | €240,874 | €193,905 | -€46,969 | -19.5% |
| Amounts payable after more than one year | 17 | €66,417 | €53,446 | -€12,971 | -19.5% |
| Financial debts | 170/4 | €66,417 | €53,446 | -€12,971 | -19.5% |
| Amounts payable within one year | 42/48 | €164,999 | €132,966 | -€32,033 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €22,989 | €12,970 | -€10,019 | -43.6% |
| Trade debts | 44 | €8,602 | €7,434 | -€1,168 | -13.6% |
| Suppliers | 440/4 | €8,602 | €7,434 | -€1,168 | -13.6% |
| Taxes, remuneration and social security | 45 | €15,709 | €14,712 | -€997 | -6.3% |
| Taxes | 450/3 | €15,709 | €14,712 | -€997 | -6.3% |
| Other amounts payable | 47/48 | €117,699 | €97,850 | -€19,849 | -16.9% |
| Accrued charges and deferred income | 492/3 | €9,458 | €7,493 | -€1,965 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,881 | €38,508 | -€5,373 | -12.2% |
| Other operating charges | 640/8 | €4,084 | €4,505 | +€421 | +10.3% |
| Gross operating margin | 9900 | €86,500 | €45,213 | -€41,287 | -47.7% |
| Operating profit (loss) | 9901 | €38,536 | €2,200 | -€36,336 | -94.3% |
| Financial income | 75/76B | €159 | €219 | +€60 | +37.6% |
| Recurring financial income | 75 | €159 | €219 | +€60 | +37.6% |
| Financial charges | 65/66B | €11,384 | €9,298 | -€2,086 | -18.3% |
| Recurring financial charges | 65 | €11,384 | €9,298 | -€2,086 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €27,311 | -€6,879 | -€34,190 | |
| Transfer from deferred taxes | 780 | €3,962 | €3,610 | -€352 | -8.9% |
| Income taxes | 67/77 | €15,356 | €5,400 | -€9,956 | -64.8% |
| Profit (loss) for the period | 9904 | €15,917 | -€8,669 | -€24,586 | |
| Transfer from tax-exempt reserves | 789 | €11,886 | €10,830 | -€1,056 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,804 | €2,161 | -€25,643 | -92.2% |
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 6 October 2026 via checked.be.