SEVIB: 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.
SEVIB
Largest movements
- Receivables after one year +€62,900
up €62,900 (+62.9%), from €100,000 to €162,900
- Cash -€21,374
down €21,374 (-73.7%), from €29,012 to €7,638
mainly Receivables after one year (-€62,900) and Receivables within one year (-€3,762)
- Tangible fixed assets -€9,197
down €9,197 (-58.6%), from €15,695 to €6,498
of which Leasing and similar rights: -€4,667
- Receivables within one year +€3,762
up €3,762 (+22.0%), from €17,112 to €20,874
of which Trade receivables: +€2,250
- Reserves +€30,920
up €30,920 (+34.0%), from €90,875 to €121,795
of which Distributable reserves: +€30,920
- Debts after one year +€9,183
up €9,183 (+36.3%), from €25,282 to €34,465
- Current portion of long-term debt -€3,421
down €3,421 (-10.0%), from €34,210 to €30,789
- Gross operating margin -€19,641
down €19,641 (-22.7%), from €86,405 to €66,763
- Write-downs +€15,000
no longer reported in 2025 (was -€15,000)
- Other operating charges +€7,776
up €7,776 (+314%), from €2,475 to €10,252
- Taxes -€6,767
down €6,767 (-34.9%), from €19,415 to €12,648
- Depreciation -€4,093
down €4,093 (-30.8%), from €13,290 to €9,197
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 | €194,851 | €228,991 | +€34,140 | +17.5% |
| Fixed assets | 21/28 | €20,995 | €11,798 | -€9,197 | -43.8% |
| Tangible fixed assets | 22/27 | €15,695 | €6,498 | -€9,197 | -58.6% |
| Furniture and vehicles | 24 | €6,246 | €1,716 | -€4,530 | -72.5% |
| Leasing and similar rights | 25 | €9,449 | €4,782 | -€4,667 | -49.4% |
| Financial fixed assets | 28 | €5,300 | €5,300 | = | 0.0% |
| Current assets | 29/58 | €173,856 | €217,193 | +€43,337 | +24.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €162,900 | +€62,900 | +62.9% |
| Other amounts receivable | 291 | €100,000 | €162,900 | +€62,900 | +62.9% |
| Amounts receivable within one year | 40/41 | €17,112 | €20,874 | +€3,762 | +22.0% |
| Trade receivables | 40 | €11,250 | €13,500 | +€2,250 | +20.0% |
| Other amounts receivable | 41 | €5,862 | €7,374 | +€1,512 | +25.8% |
| Cash at bank and in hand | 54/58 | €29,012 | €7,638 | -€21,374 | -73.7% |
| Deferred charges and accrued income | 490/1 | €27,733 | €25,781 | -€1,952 | -7.0% |
| Total equity and liabilities | 10/49 | €194,851 | €228,991 | +€34,140 | +17.5% |
| Equity | 10/15 | €109,425 | €140,345 | +€30,920 | +28.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €90,875 | €121,795 | +€30,920 | +34.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €89,020 | €119,940 | +€30,920 | +34.7% |
| Amounts payable | 17/49 | €85,426 | €88,646 | +€3,220 | +3.8% |
| Amounts payable after more than one year | 17 | €25,282 | €34,465 | +€9,183 | +36.3% |
| Financial debts | 170/4 | €25,282 | €34,465 | +€9,183 | +36.3% |
| Amounts payable within one year | 42/48 | €53,584 | €47,530 | -€6,054 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €34,210 | €30,789 | -€3,421 | -10.0% |
| Trade debts | 44 | €3,665 | €1,705 | -€1,960 | -53.5% |
| Suppliers | 440/4 | €3,665 | €1,705 | -€1,960 | -53.5% |
| Taxes, remuneration and social security | 45 | €15,709 | €15,036 | -€673 | -4.3% |
| Taxes | 450/3 | €13,098 | €11,385 | -€1,713 | -13.1% |
| Remuneration and social security | 454/9 | €2,611 | €3,651 | +€1,040 | +39.8% |
| Accrued charges and deferred income | 492/3 | €6,560 | €6,652 | +€92 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,290 | €9,197 | -€4,093 | -30.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,000 | - | +€15,000 | |
| Other operating charges | 640/8 | €2,475 | €10,252 | +€7,776 | +314% |
| Gross operating margin | 9900 | €86,405 | €66,763 | -€19,641 | -22.7% |
| Operating profit (loss) | 9901 | €85,639 | €47,315 | -€38,324 | -44.8% |
| Financial income | 75/76B | €2,097 | €3,988 | +€1,892 | +90.2% |
| Recurring financial income | 75 | €2,097 | €3,988 | +€1,892 | +90.2% |
| Financial charges | 65/66B | €5,022 | €7,735 | +€2,713 | +54.0% |
| Recurring financial charges | 65 | €5,022 | €7,735 | +€2,713 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €82,714 | €43,568 | -€39,146 | -47.3% |
| Income taxes | 67/77 | €19,415 | €12,648 | -€6,767 | -34.9% |
| Profit (loss) for the period | 9904 | €63,299 | €30,920 | -€32,379 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,299 | €30,920 | -€32,379 | -51.2% |
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 14 October 2026 via checked.be.