SEB BOUW: 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.
SEB BOUW
Largest movements
- Cash -€31,585
down €31,585 (-85.6%), from €36,909 to €5,323
mainly Receivables within one year (-€29,694) and Contributions, distributions and other (-€25,000)
- Receivables within one year +€29,694
up €29,694 (+129%), from €23,089 to €52,783
of which Trade receivables: +€33,544
- Tangible fixed assets -€27,548
down €27,548 (-30.4%), from €90,520 to €62,972
of which Leasing and similar rights: -€19,557
- Stocks and contracts +€8,388
up €8,388 (+122%), from €6,875 to €15,263
- Deferred charges and accrued income +€2,539
up €2,539 (+288%), from €881 to €3,420
- Reserves -€25,000
down €25,000 (-40.9%), from €61,109 to €36,109
of which Distributable reserves: -€25,000
- Other debts +€23,652
up €23,652 (+456%), from €5,188 to €28,839
- Debts after one year -€18,240
down €18,240 (-52.4%), from €34,791 to €16,551
- Trade debts +€6,501
up €6,501 (+43.5%), from €14,959 to €21,460
- Profit (loss) carried forward -€4,474
new in 2025: -€4,474
- Depreciation +€15,502
up €15,502 (+119%), from €13,081 to €28,583
- Taxes -€2,657
down €2,657 (-71.6%), from €3,709 to €1,052
- Financial charges +€1,108
up €1,108 (+157%), from €705 to €1,813
- Other operating charges +€991
up €991 (+44.6%), from €2,220 to €3,211
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 | €158,274 | €139,762 | -€18,512 | -11.7% |
| Fixed assets | 21/28 | €90,520 | €62,972 | -€27,548 | -30.4% |
| Tangible fixed assets | 22/27 | €90,520 | €62,972 | -€27,548 | -30.4% |
| Land and buildings | 22 | €22,659 | €20,260 | -€2,400 | -10.6% |
| Plant, machinery and equipment | 23 | €9,412 | €4,844 | -€4,569 | -48.5% |
| Furniture and vehicles | 24 | €3,999 | €2,976 | -€1,023 | -25.6% |
| Leasing and similar rights | 25 | €54,450 | €34,893 | -€19,557 | -35.9% |
| Current assets | 29/58 | €67,754 | €76,790 | +€9,035 | +13.3% |
| Stocks and contracts in progress | 3 | €6,875 | €15,263 | +€8,388 | +122% |
| Stocks | 30/36 | €6,875 | €15,263 | +€8,388 | +122% |
| Amounts receivable within one year | 40/41 | €23,089 | €52,783 | +€29,694 | +129% |
| Trade receivables | 40 | €19,239 | €52,783 | +€33,544 | +174% |
| Other amounts receivable | 41 | €3,850 | - | -€3,850 | |
| Cash at bank and in hand | 54/58 | €36,909 | €5,323 | -€31,585 | -85.6% |
| Deferred charges and accrued income | 490/1 | €881 | €3,420 | +€2,539 | +288% |
| Total equity and liabilities | 10/49 | €158,274 | €139,762 | -€18,512 | -11.7% |
| Equity | 10/15 | €79,709 | €50,235 | -€29,474 | -37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,109 | €36,109 | -€25,000 | -40.9% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €43,109 | €18,109 | -€25,000 | -58.0% |
| Profit (loss) carried forward | 14 | - | -€4,474 | -€4,474 | |
| Amounts payable | 17/49 | €78,566 | €89,527 | +€10,961 | +14.0% |
| Amounts payable after more than one year | 17 | €34,791 | €16,551 | -€18,240 | -52.4% |
| Financial debts | 170/4 | €34,791 | €16,551 | -€18,240 | -52.4% |
| Amounts payable within one year | 42/48 | €43,750 | €72,888 | +€29,138 | +66.6% |
| Current portion of amounts payable after more than one year | 42 | €15,166 | €15,795 | +€629 | +4.1% |
| Trade debts | 44 | €14,959 | €21,460 | +€6,501 | +43.5% |
| Suppliers | 440/4 | €14,959 | €21,460 | +€6,501 | +43.5% |
| Taxes, remuneration and social security | 45 | €8,437 | €6,794 | -€1,644 | -19.5% |
| Taxes | 450/3 | €6,437 | €6,794 | +€356 | +5.5% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €5,188 | €28,839 | +€23,652 | +456% |
| Accrued charges and deferred income | 492/3 | €25 | €88 | +€63 | +258% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,081 | €28,583 | +€15,502 | +119% |
| Other operating charges | 640/8 | €2,220 | €3,211 | +€991 | +44.6% |
| Gross operating margin | 9900 | €29,467 | €29,214 | -€253 | -0.9% |
| Operating profit (loss) | 9901 | €14,166 | -€2,579 | -€16,745 | |
| Financial income | 75/76B | €1,121 | €971 | -€150 | -13.4% |
| Recurring financial income | 75 | €1,121 | €971 | -€150 | -13.4% |
| Financial charges | 65/66B | €705 | €1,813 | +€1,108 | +157% |
| Recurring financial charges | 65 | €705 | €1,813 | +€1,108 | +157% |
| Profit (loss) for the period before taxes | 9903 | €14,581 | -€3,422 | -€18,003 | |
| Income taxes | 67/77 | €3,709 | €1,052 | -€2,657 | -71.6% |
| Profit (loss) for the period | 9904 | €10,872 | -€4,474 | -€15,346 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,872 | -€4,474 | -€15,346 |
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 31 October 2026 via checked.be.