REDERIJ SEABIRD: 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.
What changed
REDERIJ SEABIRD
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€5,037
2024 · -€13,493+€8,456
Equity
€1.1m
2024 · €1.1m-€5,037
Cash
€146,049
2024 · €145,057+€993
Balance sheet total
€1.2m
2024 · €1.2m-€6,040
Largest movements
Assets
- Tangible fixed assets -€54,913
down €54,913 (-7.2%), from €762,359 to €707,445
of which Land and buildings: -€33,591
- Current investments +€50,000
up €50,000 (+16.7%), from €300,000 to €350,000
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€12,875
up €12,875 (+32.5%), from €39,633 to €52,508
- Financial income -€3,715
down €3,715 (-35.1%), from €10,582 to €6,867
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.
Result 2024
-€13,493
Gross operating margin
+€12,875
Depreciation
-€491
Other operating charges
-€175
Financial income
-€3,715
Financial charges
+€106
Taxes
-€144
Result 2025
-€5,037
raises the resultlowers the result
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.
From operations
+€53,305
Investment
-€52,312
Financing
€0
Cash 2024
€145,057
From operations (derived)
+€53,305
Net result for the year
-€5,037
Depreciation
+€57,225
Receivables within one year
+€1,304
Deferred charges and accrued income
+€815
Provisions
-€2,220
Trade debts
+€1,267
Smaller working-capital items
-€51
Investment (derived)
-€52,312
Investment in fixed assets (net)
-€2,312
Current investments
-€50,000
Cash 2025
€146,049
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,217,812 | €1,211,772 | -€6,040 | -0.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €762,359 | €707,445 | -€54,913 | -7.2% |
| Tangible fixed assets | 22/27 | €762,359 | €707,445 | -€54,913 | -7.2% |
| Land and buildings | 22 | €698,747 | €665,156 | -€33,591 | -4.8% |
| Plant, machinery and equipment | 23 | €9,124 | €8,284 | -€841 | -9.2% |
| Furniture and vehicles | 24 | €54,487 | €34,005 | -€20,482 | -37.6% |
| Current assets | 29/58 | €455,453 | €504,326 | +€48,873 | +10.7% |
| Amounts receivable within one year | 40/41 | €2,893 | €1,589 | -€1,304 | -45.1% |
| Other amounts receivable | 41 | €2,893 | €1,589 | -€1,304 | -45.1% |
| Current investments | 50/53 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €145,057 | €146,049 | +€993 | +0.7% |
| Deferred charges and accrued income | 490/1 | €7,504 | €6,689 | -€815 | -10.9% |
| Total equity and liabilities | 10/49 | €1,217,812 | €1,211,772 | -€6,040 | -0.5% |
| Equity | 10/15 | €1,146,403 | €1,141,366 | -€5,037 | -0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €793,755 | €788,718 | -€5,037 | -0.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €207,873 | €201,214 | -€6,659 | -3.2% |
| Distributable reserves | 133 | €584,022 | €585,645 | +€1,622 | +0.3% |
| Profit (loss) carried forward | 14 | €334,048 | €334,048 | = | 0.0% |
| Provisions and deferred taxes | 16 | €66,113 | €63,893 | -€2,220 | -3.4% |
| Deferred taxes | 168 | €66,113 | €63,893 | -€2,220 | -3.4% |
| Amounts payable | 17/49 | €5,296 | €6,512 | +€1,216 | +23.0% |
| Amounts payable within one year | 42/48 | €4,067 | €5,361 | +€1,294 | +31.8% |
| Trade debts | 44 | €277 | €1,544 | +€1,267 | +458% |
| Suppliers | 440/4 | €277 | €1,544 | +€1,267 | +458% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,790 | €1,817 | +€27 | +1.5% |
| Accrued charges and deferred income | 492/3 | €1,229 | €1,151 | -€78 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,735 | €57,225 | +€491 | +0.9% |
| Other operating charges | 640/8 | €8,274 | €8,449 | +€175 | +2.1% |
| Gross operating margin | 9900 | €39,633 | €52,508 | +€12,875 | +32.5% |
| Operating profit (loss) | 9901 | -€25,376 | -€13,167 | +€12,209 | +48.1% |
| Financial income | 75/76B | €10,582 | €6,867 | -€3,715 | -35.1% |
| Recurring financial income | 75 | €10,582 | €6,867 | -€3,715 | -35.1% |
| Financial charges | 65/66B | €637 | €532 | -€106 | -16.6% |
| Recurring financial charges | 65 | €637 | €532 | -€106 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,431 | -€6,831 | +€8,600 | +55.7% |
| Transfer from deferred taxes | 780 | €2,220 | €2,220 | = | 0.0% |
| Income taxes | 67/77 | €282 | €425 | +€144 | +51.0% |
| Profit (loss) for the period | 9904 | -€13,493 | -€5,037 | +€8,456 | +62.7% |
| Transfer from tax-exempt reserves | 789 | €6,659 | €6,659 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,834 | €1,622 | +€8,456 |
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 26 October 2026 via checked.be.