SEABREAK: what changed
Two fiscal 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.
SEABREAK
Largest movements
- Cash +€443,935
up €443,935 (+110.0%), from €403,556 to €847,491
mainly Trade debts (+€753,401) and Net result for the year (+€115,739)
- Receivables within one year +€271,322
up €271,322 (+126.2%), from €215,056 to €486,378
of which Trade receivables: +€314,388
- Deferred charges and accrued income +€154,827
up €154,827 (+41.4%), from €374,334 to €529,161
- Intangible fixed assets +€19,585
new in 2025: €19,585
- Trade debts +€753,401
up €753,401 (+123.9%), from €608,249 to €1.4m
- Reserves +€115,739
up €115,739 (+36.7%), from €315,413 to €431,152
of which Distributable reserves: +€63,114
- Gross operating margin +€79,024
up €79,024 (+66.7%), from €118,460 to €197,484
- Staff costs +€31,457
new in 2025: €31,457
- Taxes +€10,669
up €10,669 (+37.9%), from €28,139 to €38,808
- Financial income -€3,709
down €3,709 (-47.7%), from €7,769 to €4,060
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 | €1,013,871 | €1,897,365 | +€883,494 | +87.1% |
| Fixed assets | 21/28 | €20,926 | €34,336 | +€13,410 | +64.1% |
| Intangible fixed assets | 21 | - | €19,585 | +€19,585 | |
| Tangible fixed assets | 22/27 | €20,926 | €14,751 | -€6,175 | -29.5% |
| Plant, machinery and equipment | 23 | €1,877 | €2,090 | +€213 | +11.3% |
| Furniture and vehicles | 24 | €19,048 | €12,661 | -€6,387 | -33.5% |
| Current assets | 29/58 | €992,945 | €1,863,029 | +€870,084 | +87.6% |
| Amounts receivable within one year | 40/41 | €215,056 | €486,378 | +€271,322 | +126.2% |
| Trade receivables | 40 | €139,311 | €453,699 | +€314,388 | +225.7% |
| Other amounts receivable | 41 | €75,744 | €32,679 | -€43,066 | -56.9% |
| Cash at bank and in hand | 54/58 | €403,556 | €847,491 | +€443,935 | +110.0% |
| Deferred charges and accrued income | 490/1 | €374,334 | €529,161 | +€154,827 | +41.4% |
| Total equity and liabilities | 10/49 | €1,013,871 | €1,897,365 | +€883,494 | +87.1% |
| Equity | 10/15 | €377,413 | €493,152 | +€115,739 | +30.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €315,413 | €431,152 | +€115,739 | +36.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €94,725 | +€52,625 | +125.0% |
| Distributable reserves | 133 | €267,113 | €330,227 | +€63,114 | +23.6% |
| Amounts payable | 17/49 | €636,459 | €1,404,213 | +€767,754 | +120.6% |
| Amounts payable within one year | 42/48 | €608,249 | €1,365,576 | +€757,327 | +124.5% |
| Trade debts | 44 | €608,249 | €1,361,649 | +€753,401 | +123.9% |
| Suppliers | 440/4 | €608,249 | €1,361,649 | +€753,401 | +123.9% |
| Taxes, remuneration and social security | 45 | - | €3,927 | +€3,927 | |
| Remuneration and social security | 454/9 | - | €3,927 | +€3,927 | |
| Accrued charges and deferred income | 492/3 | €28,210 | €38,637 | +€10,427 | +37.0% |
| Remuneration, social security and pensions | 62 | - | €31,457 | +€31,457 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,676 | €7,518 | -€158 | -2.1% |
| Other operating charges | 640/8 | €1,268 | €1,734 | +€466 | +36.8% |
| Non-recurring operating charges | 66A | - | €427 | +€427 | |
| Gross operating margin | 9900 | €118,460 | €197,484 | +€79,024 | +66.7% |
| Operating profit (loss) | 9901 | €109,516 | €156,348 | +€46,832 | +42.8% |
| Financial income | 75/76B | €7,769 | €4,060 | -€3,709 | -47.7% |
| Recurring financial income | 75 | €7,769 | €4,060 | -€3,709 | -47.7% |
| Financial charges | 65/66B | €4,445 | €5,860 | +€1,415 | +31.8% |
| Recurring financial charges | 65 | €4,445 | €5,860 | +€1,415 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €112,839 | €154,547 | +€41,708 | +37.0% |
| Income taxes | 67/77 | €28,139 | €38,808 | +€10,669 | +37.9% |
| Profit (loss) for the period | 9904 | €84,701 | €115,739 | +€31,038 | +36.6% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €52,625 | +€10,525 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,601 | €63,114 | +€20,513 | +48.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.