SEB Holding: 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 Holding
Largest movements
- Financial fixed assets -€24,864
down €24,864 (-5.5%), from €449,307 to €424,442
- Receivables within one year +€10,383
up €10,383 (+12.5%), from €82,909 to €93,292
of which Trade receivables: +€21,289
- Other debts -€55,319
down €55,319 (-68.1%), from €81,189 to €25,871
- Short-term financial debts +€30,000
up €30,000 (+8.0%), from €375,000 to €405,000
- Current portion of long-term debt -€27,488
no longer reported in 2025 (was €27,488)
- Debts after one year +€16,809
up €16,809 (+284%), from €5,927 to €22,736
- Reserves +€10,000
up €10,000 (+46.6%), from €21,455 to €31,455
of which Distributable reserves: +€10,000
- Financial charges -€7,897
down €7,897 (-33.0%), from €23,920 to €16,023
- Gross operating margin +€6,681
up €6,681 (+42.1%), from €15,879 to €22,561
- Taxes +€3,043
up €3,043 (+147%), from €2,064 to €5,107
- Financial income -€2,440
down €2,440 (-9.9%), from €24,606 to €22,166
- Depreciation -€608
down €608 (-51.8%), from €1,174 to €566
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 | €563,104 | €549,993 | -€13,111 | -2.3% |
| Formation expenses | 20 | €2,772 | €2,206 | -€566 | -20.4% |
| Fixed assets | 21/28 | €449,307 | €424,442 | -€24,864 | -5.5% |
| Financial fixed assets | 28 | €449,307 | €424,442 | -€24,864 | -5.5% |
| Current assets | 29/58 | €111,025 | €123,344 | +€12,320 | +11.1% |
| Amounts receivable within one year | 40/41 | €82,909 | €93,292 | +€10,383 | +12.5% |
| Trade receivables | 40 | €35,871 | €57,160 | +€21,289 | +59.3% |
| Other amounts receivable | 41 | €47,038 | €36,133 | -€10,906 | -23.2% |
| Cash at bank and in hand | 54/58 | €28,078 | €30,019 | +€1,941 | +6.9% |
| Deferred charges and accrued income | 490/1 | €37 | €33 | -€4 | -11.6% |
| Total equity and liabilities | 10/49 | €563,104 | €549,993 | -€13,111 | -2.3% |
| Equity | 10/15 | €66,077 | €81,107 | +€15,030 | +22.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €21,455 | €31,455 | +€10,000 | +46.6% |
| Non-distributable reserves | 130/1 | €1,455 | €1,455 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,455 | €1,455 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Profit (loss) carried forward | 14 | €14,622 | €19,652 | +€5,030 | +34.4% |
| Amounts payable | 17/49 | €497,027 | €468,886 | -€28,141 | -5.7% |
| Amounts payable after more than one year | 17 | €5,927 | €22,736 | +€16,809 | +284% |
| Financial debts | 170/4 | €5,927 | €22,736 | +€16,809 | +284% |
| Amounts payable within one year | 42/48 | €489,668 | €445,123 | -€44,545 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €27,488 | - | -€27,488 | |
| Financial debts | 43 | €375,000 | €405,000 | +€30,000 | +8.0% |
| Credit institutions | 430/8 | €375,000 | €405,000 | +€30,000 | +8.0% |
| Trade debts | 44 | €3,948 | €9,191 | +€5,242 | +133% |
| Suppliers | 440/4 | €3,948 | €9,191 | +€5,242 | +133% |
| Taxes, remuneration and social security | 45 | €2,043 | €5,062 | +€3,019 | +148% |
| Taxes | 450/3 | €2,043 | €5,062 | +€3,019 | +148% |
| Other amounts payable | 47/48 | €81,189 | €25,871 | -€55,319 | -68.1% |
| Accrued charges and deferred income | 492/3 | €1,431 | €1,026 | -€405 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,174 | €566 | -€608 | -51.8% |
| Other operating charges | 640/8 | €463 | €500 | +€36 | +7.9% |
| Gross operating margin | 9900 | €15,879 | €22,561 | +€6,681 | +42.1% |
| Operating profit (loss) | 9901 | €14,242 | €21,494 | +€7,253 | +50.9% |
| Financial income | 75/76B | €24,606 | €22,166 | -€2,440 | -9.9% |
| Recurring financial income | 75 | €24,606 | €22,166 | -€2,440 | -9.9% |
| Financial charges | 65/66B | €23,920 | €16,023 | -€7,897 | -33.0% |
| Recurring financial charges | 65 | €23,920 | €16,023 | -€7,897 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €14,928 | €27,637 | +€12,709 | +85.1% |
| Income taxes | 67/77 | €2,064 | €5,107 | +€3,043 | +147% |
| Profit (loss) for the period | 9904 | €12,864 | €22,530 | +€9,666 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,864 | €22,530 | +€9,666 | +75.1% |
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 29 October 2026 via checked.be.