JACQUES SEBBAN: 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.
JACQUES SEBBAN
Largest movements
- Cash -€23,604
down €23,604 (-7.5%), from €315,673 to €292,068
mainly Contributions, distributions and other (-€27,272) and Debts after one year (-€13,801)
- Tangible fixed assets -€12,828
down €12,828 (-13.5%), from €94,973 to €82,144
of which Other tangible fixed assets: -€11,681
- Reserves -€16,158
down €16,158 (-11.0%), from €146,532 to €130,374
of which Distributable reserves: -€16,158
- Debts after one year -€13,801
down €13,801 (-21.4%), from €64,353 to €50,552
- Other debts -€9,039
down €9,039 (-31.8%), from €28,396 to €19,357
- Gross operating margin -€5,820
down €5,820 (-13.4%), from €43,531 to €37,712
- Taxes +€4,659
up €4,659 (+153%), from €3,042 to €7,701
- Depreciation -€2,033
down €2,033 (-11.1%), from €18,302 to €16,269
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 | €415,181 | €375,713 | -€39,468 | -9.5% |
| Fixed assets | 21/28 | €94,973 | €82,144 | -€12,828 | -13.5% |
| Tangible fixed assets | 22/27 | €94,973 | €82,144 | -€12,828 | -13.5% |
| Land and buildings | 22 | €3,990 | €3,168 | -€821 | -20.6% |
| Furniture and vehicles | 24 | €889 | €563 | -€326 | -36.7% |
| Other tangible fixed assets | 26 | €90,094 | €78,413 | -€11,681 | -13.0% |
| Current assets | 29/58 | €320,209 | €293,568 | -€26,640 | -8.3% |
| Amounts receivable within one year | 40/41 | €3,200 | €1,500 | -€1,700 | -53.1% |
| Other amounts receivable | 41 | €3,200 | €1,500 | -€1,700 | -53.1% |
| Cash at bank and in hand | 54/58 | €315,673 | €292,068 | -€23,604 | -7.5% |
| Deferred charges and accrued income | 490/1 | €1,336 | - | -€1,336 | |
| Total equity and liabilities | 10/49 | €415,181 | €375,713 | -€39,468 | -9.5% |
| Equity | 10/15 | €306,573 | €290,415 | -€16,158 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €19,000 | €19,000 | = | 0.0% |
| Uncalled capital | 101 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €146,532 | €130,374 | -€16,158 | -11.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Legal reserve | 130 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €143,432 | €127,274 | -€16,158 | -11.3% |
| Profit (loss) carried forward | 14 | €147,642 | €147,642 | = | 0.0% |
| Amounts payable | 17/49 | €108,608 | €85,297 | -€23,311 | -21.5% |
| Amounts payable after more than one year | 17 | €64,353 | €50,552 | -€13,801 | -21.4% |
| Financial debts | 170/4 | €64,353 | €50,552 | -€13,801 | -21.4% |
| Amounts payable within one year | 42/48 | €44,255 | €34,745 | -€9,510 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €13,526 | €13,801 | +€275 | +2.0% |
| Trade debts | 44 | €419 | €475 | +€56 | +13.5% |
| Suppliers | 440/4 | €419 | €475 | +€56 | +13.5% |
| Taxes, remuneration and social security | 45 | €1,914 | €1,111 | -€802 | -41.9% |
| Taxes | 450/3 | €1,914 | €1,111 | -€802 | -41.9% |
| Other amounts payable | 47/48 | €28,396 | €19,357 | -€9,039 | -31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,302 | €16,269 | -€2,033 | -11.1% |
| Other operating charges | 640/8 | €1,184 | €1,222 | +€38 | +3.2% |
| Gross operating margin | 9900 | €43,531 | €37,712 | -€5,820 | -13.4% |
| Operating profit (loss) | 9901 | €24,045 | €20,221 | -€3,824 | -15.9% |
| Financial income | 75/76B | €60 | €160 | +€100 | +165% |
| Recurring financial income | 75 | €60 | €160 | +€100 | +165% |
| Financial charges | 65/66B | €1,927 | €1,565 | -€361 | -18.8% |
| Recurring financial charges | 65 | €1,927 | €1,565 | -€361 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €22,179 | €18,816 | -€3,363 | -15.2% |
| Income taxes | 67/77 | €3,042 | €7,701 | +€4,659 | +153% |
| Profit (loss) for the period | 9904 | €19,137 | €11,114 | -€8,023 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,137 | €11,114 | -€8,023 | -41.9% |
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 14 October 2026 via checked.be.