SEABRIDGE: 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
SEABRIDGE
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€666,363
2024 · €692,448-€26,085
Equity
€8.5m
2024 · €7.9m+€610,378
Cash
€123,162
2024 · €154,825-€31,662
Balance sheet total
€12.5m
2024 · €11.8m+€768,735
Largest movements
Assets
- Receivables within one year +€2.0m
up €2.0m (+37.4%), from €5.3m to €7.3m
of which Trade receivables: +€2.0m
- Tangible fixed assets -€1.0m
down €1.0m (-17.5%), from €6.0m to €5.0m
of which Land and buildings: -€962,146
Equity and liabilities
- Profit (loss) carried forward +€666,363
up €666,363 (+12.4%), from €5.4m to €6.0m
- Debts after one year -€600,000
down €600,000 (-25.0%), from €2.4m to €1.8m
- Tax, wage and social debts +€251,915
up €251,915 (+68.1%), from €370,160 to €622,075
of which Taxes: +€249,576
- Short-term financial debts +€250,000
up €250,000 (+83.3%), from €300,000 to €550,000
- Trade debts +€196,324
up €196,324 (+122%), from €160,755 to €357,079
Income statement
- Purchases and services +€1.0m
up €1.0m (+27.5%), from €3.7m to €4.7m
- Turnover +€938,131
up €938,131 (+14.1%), from €6.6m to €7.6m
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
€692,448
Gross operating margin
-€38,487
Staff costs
-€2,662
Depreciation
-€32,766
Write-downs
+€2,645
Other operating charges
-€9,526
Financial income
-€653
Financial charges
+€43,634
Taxes
+€11,729
Result 2025
€666,363
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
+€606,093
Investment
-€231,770
Financing
-€405,986
Cash 2024
€154,825
From operations (derived)
+€606,093
Net result for the year
+€666,363
Depreciation
+€1.4m
Receivables after one year
+€6,273
Receivables within one year
-€2.0m
Deferred charges and accrued income
+€38,828
Trade debts
+€196,324
Tax, wage and social debts
+€251,915
Accrued charges and deferred income
+€60,119
Investment (derived)
-€231,770
Investment in fixed assets (net)
-€231,770
Financing
-€405,986
Debts after one year
-€600,000
Short-term financial debts
+€250,000
Contributions, distributions and other
-€55,986
Cash 2025
€123,162
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,765,932 | €12,534,667 | +€768,735 | +6.5% |
| Fixed assets | 21/28 | €6,164,284 | €5,032,504 | -€1.1m | -18.4% |
| Intangible fixed assets | 21 | €155,945 | €72,620 | -€83,325 | -53.4% |
| Tangible fixed assets | 22/27 | €6,004,294 | €4,955,839 | -€1.0m | -17.5% |
| Land and buildings | 22 | €5,404,581 | €4,442,435 | -€962,146 | -17.8% |
| Plant, machinery and equipment | 23 | €554,847 | €377,915 | -€176,931 | -31.9% |
| Furniture and vehicles | 24 | €40,666 | €131,289 | +€90,623 | +223% |
| Other tangible fixed assets | 26 | €4,200 | €4,200 | = | 0.0% |
| Financial fixed assets | 28 | €4,045 | €4,045 | = | 0.0% |
| Current assets | 29/58 | €5,601,648 | €7,502,162 | +€1.9m | +33.9% |
| Amounts receivable after more than one year | 29 | €6,273 | - | -€6,273 | |
| Other amounts receivable | 291 | €6,273 | - | -€6,273 | |
| Amounts receivable within one year | 40/41 | €5,289,331 | €7,266,608 | +€2.0m | +37.4% |
| Trade receivables | 40 | €5,243,617 | €7,201,707 | +€2.0m | +37.3% |
| Other amounts receivable | 41 | €45,714 | €64,901 | +€19,187 | +42.0% |
| Cash at bank and in hand | 54/58 | €154,825 | €123,162 | -€31,662 | -20.5% |
| Deferred charges and accrued income | 490/1 | €151,220 | €112,392 | -€38,828 | -25.7% |
| Total equity and liabilities | 10/49 | €11,765,932 | €12,534,667 | +€768,735 | +6.5% |
| Equity | 10/15 | €7,877,181 | €8,487,558 | +€610,378 | +7.7% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €200,000 | €200,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,373,608 | €6,039,971 | +€666,363 | +12.4% |
| Investment grants | 15 | €303,573 | €247,587 | -€55,986 | -18.4% |
| Amounts payable | 17/49 | €3,888,751 | €4,047,109 | +€158,357 | +4.1% |
| Amounts payable after more than one year | 17 | €2,400,000 | €1,800,000 | -€600,000 | -25.0% |
| Financial debts | 170/4 | €2,400,000 | €1,800,000 | -€600,000 | -25.0% |
| Amounts payable within one year | 42/48 | €1,430,915 | €2,129,154 | +€698,239 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €600,000 | €600,000 | = | 0.0% |
| Financial debts | 43 | €300,000 | €550,000 | +€250,000 | +83.3% |
| Credit institutions | 430/8 | €300,000 | €550,000 | +€250,000 | +83.3% |
| Trade debts | 44 | €160,755 | €357,079 | +€196,324 | +122% |
| Suppliers | 440/4 | €160,755 | €357,079 | +€196,324 | +122% |
| Taxes, remuneration and social security | 45 | €370,160 | €622,075 | +€251,915 | +68.1% |
| Taxes | 450/3 | €280,933 | €530,509 | +€249,576 | +88.8% |
| Remuneration and social security | 454/9 | €89,227 | €91,566 | +€2,338 | +2.6% |
| Accrued charges and deferred income | 492/3 | €57,836 | €117,955 | +€60,119 | +104% |
| Turnover | 70 | €6,639,930 | €7,578,061 | +€938,131 | +14.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,706,400 | €4,725,721 | +€1.0m | +27.5% |
| Remuneration, social security and pensions | 62 | €813,830 | €816,492 | +€2,662 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,330,784 | €1,363,549 | +€32,766 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,645 | -€2,645 | |
| Other operating charges | 640/8 | €136,991 | €146,517 | +€9,526 | +7.0% |
| Gross operating margin | 9900 | €3,425,379 | €3,386,892 | -€38,487 | -1.1% |
| Operating profit (loss) | 9901 | €1,143,775 | €1,062,980 | -€80,795 | -7.1% |
| Financial income | 75/76B | €57,029 | €56,376 | -€653 | -1.1% |
| Recurring financial income | 75 | €57,029 | €56,376 | -€653 | -1.1% |
| Financial charges | 65/66B | €247,868 | €204,234 | -€43,634 | -17.6% |
| Recurring financial charges | 65 | €247,868 | €204,234 | -€43,634 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €952,935 | €915,121 | -€37,814 | -4.0% |
| Income taxes | 67/77 | €260,487 | €248,758 | -€11,729 | -4.5% |
| Profit (loss) for the period | 9904 | €692,448 | €666,363 | -€26,085 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €692,448 | €666,363 | -€26,085 | -3.8% |
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 16 October 2026 via checked.be.