SEVIMLER MARKET: 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.
SEVIMLER MARKET
Largest movements
- Receivables within one year -€170,209
down €170,209 (-84.0%), from €202,685 to €32,476
of which Trade receivables: -€175,798
- Stocks and contracts +€131,959
up €131,959 (+49.4%), from €266,895 to €398,854
- Cash -€39,471
down €39,471 (-30.5%), from €129,429 to €89,957
mainly Stocks and contracts (-€131,959) and Trade debts (-€124,944)
- Intangible fixed assets -€28,750
no longer reported in 2025 (was €28,750)
- Deferred charges and accrued income -€9,486
down €9,486 (-38.0%), from €24,931 to €15,445
- Trade debts -€124,944
down €124,944 (-22.4%), from €558,761 to €433,817
- Accrued charges and deferred income +€22,236
up €22,236 (+259%), from €8,596 to €30,832
- Current portion of long-term debt -€16,601
down €16,601 (-76.1%), from €21,821 to €5,221
- Tax, wage and social debts -€11,511
down €11,511 (-16.1%), from €71,313 to €59,802
of which Remuneration and social security: -€11,701
- Other debts +€9,573
up €9,573 (+588%), from €1,627 to €11,200
- Gross operating margin +€186,859
up €186,859 (+56.9%), from €328,579 to €515,439
- Staff costs +€21,165
up €21,165 (+7.2%), from €294,098 to €315,262
- Financial income -€19,983
down €19,983 (-98.9%), from €20,200 to €217
of which Non-recurring financial income: -€20,000
- Other operating charges +€18,686
up €18,686 (+124%), from €15,119 to €33,804
- Taxes +€17,907
up €17,907 (+7,004%), from €256 to €18,163
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 | €735,542 | €612,278 | -€123,264 | -16.8% |
| Fixed assets | 21/28 | €111,603 | €75,546 | -€36,057 | -32.3% |
| Intangible fixed assets | 21 | €28,750 | - | -€28,750 | |
| Tangible fixed assets | 22/27 | €82,853 | €75,546 | -€7,307 | -8.8% |
| Plant, machinery and equipment | 23 | €66,993 | €52,713 | -€14,280 | -21.3% |
| Furniture and vehicles | 24 | €1,466 | €611 | -€855 | -58.3% |
| Other tangible fixed assets | 26 | €14,394 | €22,222 | +€7,828 | +54.4% |
| Current assets | 29/58 | €623,939 | €536,732 | -€87,207 | -14.0% |
| Stocks and contracts in progress | 3 | €266,895 | €398,854 | +€131,959 | +49.4% |
| Stocks | 30/36 | €266,895 | €398,854 | +€131,959 | +49.4% |
| Amounts receivable within one year | 40/41 | €202,685 | €32,476 | -€170,209 | -84.0% |
| Trade receivables | 40 | €194,680 | €18,882 | -€175,798 | -90.3% |
| Other amounts receivable | 41 | €8,005 | €13,594 | +€5,589 | +69.8% |
| Cash at bank and in hand | 54/58 | €129,429 | €89,957 | -€39,471 | -30.5% |
| Deferred charges and accrued income | 490/1 | €24,931 | €15,445 | -€9,486 | -38.0% |
| Total equity and liabilities | 10/49 | €735,542 | €612,278 | -€123,264 | -16.8% |
| Equity | 10/15 | €67,299 | €70,503 | +€3,204 | +4.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,299 | €65,503 | +€3,204 | +5.1% |
| Amounts payable | 17/49 | €668,243 | €541,775 | -€126,468 | -18.9% |
| Amounts payable after more than one year | 17 | €6,124 | €903 | -€5,221 | -85.2% |
| Financial debts | 170/4 | €6,124 | €903 | -€5,221 | -85.2% |
| Amounts payable within one year | 42/48 | €653,523 | €510,040 | -€143,483 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €21,821 | €5,221 | -€16,601 | -76.1% |
| Trade debts | 44 | €558,761 | €433,817 | -€124,944 | -22.4% |
| Suppliers | 440/4 | €558,761 | €433,817 | -€124,944 | -22.4% |
| Taxes, remuneration and social security | 45 | €71,313 | €59,802 | -€11,511 | -16.1% |
| Taxes | 450/3 | €12,447 | €12,638 | +€190 | +1.5% |
| Remuneration and social security | 454/9 | €58,866 | €47,165 | -€11,701 | -19.9% |
| Other amounts payable | 47/48 | €1,627 | €11,200 | +€9,573 | +588% |
| Accrued charges and deferred income | 492/3 | €8,596 | €30,832 | +€22,236 | +259% |
| Non-recurring operating income | 76A | €15,476 | - | -€15,476 | |
| Remuneration, social security and pensions | 62 | €294,098 | €315,262 | +€21,165 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,283 | €51,010 | +€8,726 | +20.6% |
| Other operating charges | 640/8 | €15,119 | €33,804 | +€18,686 | +124% |
| Gross operating margin | 9900 | €328,579 | €515,439 | +€186,859 | +56.9% |
| Operating profit (loss) | 9901 | -€22,920 | €115,362 | +€138,282 | |
| Financial income | 75/76B | €20,200 | €217 | -€19,983 | -98.9% |
| Recurring financial income | 75 | €200 | €217 | +€17 | +8.6% |
| Non-recurring financial income | 76B | €20,000 | - | -€20,000 | |
| Financial charges | 65/66B | €20,502 | €21,213 | +€712 | +3.5% |
| Recurring financial charges | 65 | €20,502 | €21,213 | +€712 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,221 | €94,366 | +€117,588 | |
| Income taxes | 67/77 | €256 | €18,163 | +€17,907 | +7,004% |
| Profit (loss) for the period | 9904 | -€23,477 | €76,204 | +€99,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,477 | €76,204 | +€99,681 |
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 18 October 2026 via checked.be.