SEVIMAX: 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.
SEVIMAX
Largest movements
- Receivables within one year +€147,557
up €147,557 (+159%), from €92,800 to €240,357
of which Other amounts receivable: +€122,199
- Cash -€22,541
down €22,541 (-52.1%), from €43,267 to €20,726
mainly Receivables within one year (-€147,557) and Current investments (-€15,000)
- Current investments +€15,000
new in 2025: €15,000
- Reserves +€109,821
up €109,821 (+105%), from €104,259 to €214,080
- Tax, wage and social debts +€33,868
up €33,868 (+104%), from €32,477 to €66,345
- Trade debts -€4,605
down €4,605 (-84.4%), from €5,454 to €848
- Gross operating margin +€8,572
up €8,572 (+6.4%), from €134,736 to €143,307
- Taxes +€4,266
up €4,266 (+14.1%), from €30,180 to €34,447
- Financial income +€2,920
new in 2025: €2,920
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 | €144,190 | €283,274 | +€139,084 | +96.5% |
| Fixed assets | 21/28 | €2,898 | €1,840 | -€1,058 | -36.5% |
| Tangible fixed assets | 22/27 | €2,898 | €1,840 | -€1,058 | -36.5% |
| Furniture and vehicles | 24 | €2,898 | €1,840 | -€1,058 | -36.5% |
| Current assets | 29/58 | €141,292 | €281,433 | +€140,142 | +99.2% |
| Amounts receivable within one year | 40/41 | €92,800 | €240,357 | +€147,557 | +159% |
| Trade receivables | 40 | €92,800 | €118,158 | +€25,358 | +27.3% |
| Other amounts receivable | 41 | - | €122,199 | +€122,199 | |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €43,267 | €20,726 | -€22,541 | -52.1% |
| Deferred charges and accrued income | 490/1 | €5,225 | €5,350 | +€125 | +2.4% |
| Total equity and liabilities | 10/49 | €144,190 | €283,274 | +€139,084 | +96.5% |
| Equity | 10/15 | €106,259 | €216,080 | +€109,821 | +103% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €104,259 | €214,080 | +€109,821 | +105% |
| Distributable reserves | 133 | €104,259 | €214,080 | +€109,821 | +105% |
| Amounts payable | 17/49 | €37,931 | €67,193 | +€29,263 | +77.1% |
| Amounts payable within one year | 42/48 | €37,931 | €67,193 | +€29,263 | +77.1% |
| Trade debts | 44 | €5,454 | €848 | -€4,605 | -84.4% |
| Suppliers | 440/4 | €5,454 | €848 | -€4,605 | -84.4% |
| Taxes, remuneration and social security | 45 | €32,477 | €66,345 | +€33,868 | +104% |
| Taxes | 450/3 | €32,477 | €66,345 | +€33,868 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275 | €1,058 | +€783 | +284% |
| Gross operating margin | 9900 | €134,736 | €143,307 | +€8,572 | +6.4% |
| Operating profit (loss) | 9901 | €134,460 | €142,249 | +€7,789 | +5.8% |
| Financial income | 75/76B | - | €2,920 | +€2,920 | |
| Recurring financial income | 75 | - | €2,920 | +€2,920 | |
| Financial charges | 65/66B | €20 | €902 | +€881 | +4,334% |
| Recurring financial charges | 65 | €20 | €902 | +€881 | +4,334% |
| Profit (loss) for the period before taxes | 9903 | €134,440 | €144,267 | +€9,828 | +7.3% |
| Income taxes | 67/77 | €30,180 | €34,447 | +€4,266 | +14.1% |
| Profit (loss) for the period | 9904 | €104,259 | €109,821 | +€5,561 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €104,259 | €109,821 | +€5,561 | +5.3% |
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 27 October 2026 via checked.be.