SJERPA: 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.
SJERPA
Largest movements
- Cash -€18,837
down €18,837 (-25.6%), from €73,487 to €54,650
mainly Other debts (-€29,980) and Debts after one year (-€4,059)
- Tangible fixed assets -€9,516
down €9,516 (-20.6%), from €46,269 to €36,753
- Other debts -€29,980
down €29,980 (-15.9%), from €188,351 to €158,371
- Profit (loss) carried forward +€5,914
up €5,914 (+7.4%), from -€80,419 to -€74,505
- Debts after one year -€4,059
down €4,059 (-51.1%), from €7,938 to €3,879
- Trade debts -€2,482
down €2,482 (-18.5%), from €13,415 to €10,933
- Gross operating margin +€4,456
up €4,456 (+33.7%), from €13,227 to €17,683
- Depreciation +€221
up €221 (+2.0%), from €10,821 to €11,041
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.
Cash bridge derived
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 | €154,872 | €124,266 | -€30,605 | -19.8% |
| Fixed assets | 21/28 | €47,362 | €37,346 | -€10,016 | -21.1% |
| Intangible fixed assets | 21 | €1,093 | €593 | -€500 | -45.7% |
| Tangible fixed assets | 22/27 | €46,269 | €36,753 | -€9,516 | -20.6% |
| Furniture and vehicles | 24 | €3,444 | €2,545 | -€900 | -26.1% |
| Leasing and similar rights | 25 | €15,088 | €11,199 | -€3,889 | -25.8% |
| Other tangible fixed assets | 26 | €27,737 | €23,010 | -€4,727 | -17.0% |
| Current assets | 29/58 | €107,510 | €86,920 | -€20,589 | -19.2% |
| Stocks and contracts in progress | 3 | €15,859 | €14,972 | -€887 | -5.6% |
| Stocks | 30/36 | €15,859 | €14,972 | -€887 | -5.6% |
| Amounts receivable within one year | 40/41 | €15,820 | €15,217 | -€603 | -3.8% |
| Trade receivables | 40 | €15,820 | €15,217 | -€603 | -3.8% |
| Cash at bank and in hand | 54/58 | €73,487 | €54,650 | -€18,837 | -25.6% |
| Deferred charges and accrued income | 490/1 | €2,344 | €2,082 | -€262 | -11.2% |
| Total equity and liabilities | 10/49 | €154,872 | €124,266 | -€30,605 | -19.8% |
| Equity | 10/15 | -€61,778 | -€55,864 | +€5,914 | +9.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €91 | €91 | = | 0.0% |
| Tax-exempt reserves | 132 | €91 | €91 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,419 | -€74,505 | +€5,914 | +7.4% |
| Amounts payable | 17/49 | €216,650 | €180,130 | -€36,520 | -16.9% |
| Amounts payable after more than one year | 17 | €7,938 | €3,879 | -€4,059 | -51.1% |
| Financial debts | 170/4 | €7,938 | €3,879 | -€4,059 | -51.1% |
| Amounts payable within one year | 42/48 | €208,712 | €176,251 | -€32,460 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €3,975 | €4,059 | +€84 | +2.1% |
| Trade debts | 44 | €13,415 | €10,933 | -€2,482 | -18.5% |
| Suppliers | 440/4 | €13,415 | €10,933 | -€2,482 | -18.5% |
| Taxes, remuneration and social security | 45 | €2,971 | €2,888 | -€83 | -2.8% |
| Taxes | 450/3 | €2,971 | €2,888 | -€83 | -2.8% |
| Other amounts payable | 47/48 | €188,351 | €158,371 | -€29,980 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,821 | €11,041 | +€221 | +2.0% |
| Other operating charges | 640/8 | €688 | €709 | +€21 | +3.0% |
| Non-recurring operating charges | 66A | €60 | - | -€60 | |
| Gross operating margin | 9900 | €13,227 | €17,683 | +€4,456 | +33.7% |
| Operating profit (loss) | 9901 | €1,658 | €5,932 | +€4,274 | +257.8% |
| Financial income | 75/76B | €432 | €573 | +€141 | +32.5% |
| Recurring financial income | 75 | €432 | €573 | +€141 | +32.5% |
| Financial charges | 65/66B | €432 | €363 | -€68 | -15.9% |
| Recurring financial charges | 65 | €432 | €363 | -€68 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €1,659 | €6,142 | +€4,483 | +270.3% |
| Income taxes | 67/77 | €262 | €228 | -€35 | -13.2% |
| Profit (loss) for the period | 9904 | €1,397 | €5,914 | +€4,518 | +323.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,397 | €5,914 | +€4,518 | +323.5% |
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 9 October 2026 via checked.be.