SIEVAX: 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.
SIEVAX
Largest movements
- Cash +€45,122
up €45,122 (+26.0%), from €173,569 to €218,691
mainly Net result for the year (+€54,004) and Receivables within one year (+€20,176)
- Receivables within one year -€20,176
down €20,176 (-63.3%), from €31,896 to €11,719
- Reserves +€54,004
up €54,004 (+28.0%), from €192,730 to €246,734
- Other debts -€30,487
down €30,487 (-77.9%), from €39,148 to €8,661
- Gross operating margin +€22,810
up €22,810 (+36.9%), from €61,808 to €84,618
- Taxes +€5,385
up €5,385 (+32.8%), from €16,407 to €21,792
- Depreciation +€2,641
up €2,641 (+65.1%), from €4,056 to €6,698
- Financial charges +€1,384
up €1,384 (+458%), from €302 to €1,687
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 | €263,207 | €287,030 | +€23,822 | +9.1% |
| Fixed assets | 21/28 | €52,648 | €51,681 | -€967 | -1.8% |
| Tangible fixed assets | 22/27 | €49,798 | €48,831 | -€967 | -1.9% |
| Land and buildings | 22 | €27,611 | €26,756 | -€855 | -3.1% |
| Plant, machinery and equipment | 23 | €3,658 | €7,519 | +€3,862 | +106% |
| Furniture and vehicles | 24 | €11,858 | €8,943 | -€2,915 | -24.6% |
| Other tangible fixed assets | 26 | €6,671 | €5,612 | -€1,058 | -15.9% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €210,559 | €235,349 | +€24,789 | +11.8% |
| Amounts receivable after more than one year | 29 | €1,323 | €1,323 | = | 0.0% |
| Other amounts receivable | 291 | €1,323 | €1,323 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,896 | €11,719 | -€20,176 | -63.3% |
| Trade receivables | 40 | €31,896 | €11,719 | -€20,176 | -63.3% |
| Cash at bank and in hand | 54/58 | €173,569 | €218,691 | +€45,122 | +26.0% |
| Deferred charges and accrued income | 490/1 | €3,772 | €3,616 | -€157 | -4.2% |
| Total equity and liabilities | 10/49 | €263,207 | €287,030 | +€23,822 | +9.1% |
| Equity | 10/15 | €211,280 | €265,284 | +€54,004 | +25.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €192,730 | €246,734 | +€54,004 | +28.0% |
| Distributable reserves | 133 | €192,730 | €246,734 | +€54,004 | +28.0% |
| Amounts payable | 17/49 | €51,927 | €21,746 | -€30,181 | -58.1% |
| Amounts payable within one year | 42/48 | €51,927 | €21,746 | -€30,181 | -58.1% |
| Trade debts | 44 | €2,120 | €2,652 | +€533 | +25.1% |
| Suppliers | 440/4 | €2,120 | €2,652 | +€533 | +25.1% |
| Taxes, remuneration and social security | 45 | €10,659 | €10,433 | -€227 | -2.1% |
| Taxes | 450/3 | €10,659 | €10,433 | -€227 | -2.1% |
| Other amounts payable | 47/48 | €39,148 | €8,661 | -€30,487 | -77.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,056 | €6,698 | +€2,641 | +65.1% |
| Other operating charges | 640/8 | €456 | €447 | -€9 | -2.0% |
| Gross operating margin | 9900 | €61,808 | €84,618 | +€22,810 | +36.9% |
| Operating profit (loss) | 9901 | €57,295 | €77,473 | +€20,178 | +35.2% |
| Financial income | 75/76B | €116 | €9 | -€107 | -92.3% |
| Recurring financial income | 75 | €116 | €9 | -€107 | -92.3% |
| Financial charges | 65/66B | €302 | €1,687 | +€1,384 | +458% |
| Recurring financial charges | 65 | €302 | €1,687 | +€1,384 | +458% |
| Profit (loss) for the period before taxes | 9903 | €57,109 | €75,796 | +€18,687 | +32.7% |
| Income taxes | 67/77 | €16,407 | €21,792 | +€5,385 | +32.8% |
| Profit (loss) for the period | 9904 | €40,702 | €54,004 | +€13,302 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,702 | €54,004 | +€13,302 | +32.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.