SIEPAS: what changed
What changed
SIEPAS
NACE 56.210, Event catering
filed annual accounts (NBB)
Net result for the year
€34,484
2024 · €16,883+€17,601
Equity
€89,686
2024 · €55,202+€34,484
Cash
€103,646
2024 · €78,334+€25,312
Balance sheet total
€520,165
2024 · €531,466-€11,301
Largest movements
Assets
- Tangible fixed assets -€34,615
down €34,615 (-8.0%), from €433,116 to €398,500
of which Plant, machinery and equipment: -€38,995
- Cash +€25,312
up €25,312 (+32.3%), from €78,334 to €103,646
mainly Depreciation (+€59,011) and Net result for the year (+€34,484)
Equity and liabilities
- Profit (loss) carried forward +€34,484
up €34,484 (+14.6%), from -€236,048 to -€201,564
- Debts after one year -€30,442
down €30,442 (-100%), from €30,442 to €0
- Tax, wage and social debts -€19,315
down €19,315 (-99.5%), from €19,411 to €97
of which Taxes: -€10,773
- Trade debts +€10,015
up €10,015 (+279%), from €3,596 to €13,611
- Current portion of long-term debt -€9,880
down €9,880 (-22.6%), from €43,694 to €33,814
Income statement
- Staff costs -€60,776
down €60,776 (-78.8%), from €77,092 to €16,316
- Gross operating margin -€52,632
down €52,632 (-30.2%), from €174,450 to €121,819
- Financial charges -€11,551
down €11,551 (-71.4%), from €16,176 to €4,625
- Depreciation +€2,384
up €2,384 (+4.2%), from €56,628 to €59,011
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€16,883
Gross operating margin
-€52,632
Staff costs
+€60,776
Depreciation
-€2,384
Other operating charges
-€150
Financial income
+€1
Financial charges
+€11,551
Taxes
+€438
Result 2025
€34,484
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€89,390
Investment
-€23,757
Financing
-€40,321
Cash 2024
€78,334
From operations (derived)
+€89,390
Net result for the year
+€34,484
Depreciation
+€59,011
Receivables within one year
+€316
Deferred charges and accrued income
+€1,043
Trade debts
+€10,015
Tax, wage and social debts
-€19,315
Other debts
+€1,014
Accrued charges and deferred income
+€2,821
Investment (derived)
-€23,757
Investment in fixed assets (net)
-€23,757
Financing
-€40,321
Debts after one year
-€30,442
Current portion of long-term debt
-€9,880
Cash 2025
€103,646
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €531,466 | €520,165 | -€11,301 | -2.1% |
| Fixed assets | 21/28 | €436,692 | €401,437 | -€35,255 | -8.1% |
| Intangible fixed assets | 21 | €2,958 | €2,458 | -€500 | -16.9% |
| Tangible fixed assets | 22/27 | €433,116 | €398,500 | -€34,615 | -8.0% |
| Land and buildings | 22 | €81,669 | €90,938 | +€9,269 | +11.3% |
| Plant, machinery and equipment | 23 | €339,913 | €300,918 | -€38,995 | -11.5% |
| Furniture and vehicles | 24 | €11,534 | €6,644 | -€4,890 | -42.4% |
| Financial fixed assets | 28 | €618 | €479 | -€139 | -22.5% |
| Current assets | 29/58 | €94,775 | €118,728 | +€23,953 | +25.3% |
| Amounts receivable within one year | 40/41 | €12,824 | €12,509 | -€316 | -2.5% |
| Trade receivables | 40 | €12,824 | €6,269 | -€6,555 | -51.1% |
| Other amounts receivable | 41 | - | €6,239 | +€6,239 | |
| Cash at bank and in hand | 54/58 | €78,334 | €103,646 | +€25,312 | +32.3% |
| Deferred charges and accrued income | 490/1 | €3,616 | €2,573 | -€1,043 | -28.8% |
| Total equity and liabilities | 10/49 | €531,466 | €520,165 | -€11,301 | -2.1% |
| Equity | 10/15 | €55,202 | €89,686 | +€34,484 | +62.5% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €253,750 | €253,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,750 | €3,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,750 | €3,750 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€236,048 | -€201,564 | +€34,484 | +14.6% |
| Amounts payable | 17/49 | €476,265 | €430,479 | -€45,786 | -9.6% |
| Amounts payable after more than one year | 17 | €30,442 | €0 | -€30,442 | -100% |
| Financial debts | 170/4 | €30,442 | €0 | -€30,442 | -100% |
| Amounts payable within one year | 42/48 | €440,268 | €422,103 | -€18,165 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €43,694 | €33,814 | -€9,880 | -22.6% |
| Trade debts | 44 | €3,596 | €13,611 | +€10,015 | +279% |
| Suppliers | 440/4 | €3,596 | €13,611 | +€10,015 | +279% |
| Taxes, remuneration and social security | 45 | €19,411 | €97 | -€19,315 | -99.5% |
| Taxes | 450/3 | €10,870 | €97 | -€10,773 | -99.1% |
| Remuneration and social security | 454/9 | €8,541 | €0 | -€8,541 | -100% |
| Other amounts payable | 47/48 | €373,567 | €374,581 | +€1,014 | +0.3% |
| Accrued charges and deferred income | 492/3 | €5,555 | €8,376 | +€2,821 | +50.8% |
| Remuneration, social security and pensions | 62 | €77,092 | €16,316 | -€60,776 | -78.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,628 | €59,011 | +€2,384 | +4.2% |
| Other operating charges | 640/8 | €7,144 | €7,293 | +€150 | +2.1% |
| Gross operating margin | 9900 | €174,450 | €121,819 | -€52,632 | -30.2% |
| Operating profit (loss) | 9901 | €33,586 | €39,198 | +€5,612 | +16.7% |
| Financial income | 75/76B | €7 | €8 | +€1 | +8.6% |
| Recurring financial income | 75 | €7 | €8 | +€1 | +8.6% |
| Financial charges | 65/66B | €16,176 | €4,625 | -€11,551 | -71.4% |
| Recurring financial charges | 65 | €16,176 | €4,625 | -€11,551 | -71.4% |
| Profit (loss) for the period before taxes | 9903 | €17,418 | €34,581 | +€17,163 | +98.5% |
| Income taxes | 67/77 | €534 | €97 | -€438 | -81.9% |
| Profit (loss) for the period | 9904 | €16,883 | €34,484 | +€17,601 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €16,883 | €34,484 | +€17,601 | +104% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.