SEB MENUISERIE: 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
SEB MENUISERIE
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,715
2024 · €40,501-€7,786
Equity
€157,158
2024 · €136,630+€20,528
Cash
€37,798
2024 · €41,674-€3,876
Balance sheet total
€396,714
2024 · €410,639-€13,925
Largest movements
Assets
- Tangible fixed assets -€12,236
down €12,236 (-3.7%), from €331,759 to €319,523
of which Land and buildings: -€12,059
Equity and liabilities
- Debts after one year -€36,250
down €36,250 (-16.3%), from €222,520 to €186,270
- Reserves +€21,137
up €21,137 (+20.9%), from €101,222 to €122,360
Income statement
- Gross operating margin -€9,749
down €9,749 (-13.6%), from €71,705 to €61,956
- Taxes -€1,793
down €1,793 (-16.7%), from €10,756 to €8,963
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
€40,501
Gross operating margin
-€9,749
Depreciation
-€47
Other operating charges
+€373
Financial income
+€40
Financial charges
-€197
Taxes
+€1,793
Result 2025
€32,715
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
+€43,692
Investment
€0
Financing
-€47,569
Cash 2024
€41,674
From operations (derived)
+€43,692
Net result for the year
+€32,715
Depreciation
+€12,236
Receivables within one year
-€1,234
Deferred charges and accrued income
-€952
Trade debts
+€1,069
Tax, wage and social debts
-€958
Other debts
+€818
Financing
-€47,569
Debts after one year
-€36,250
Current portion of long-term debt
+€885
Short-term financial debts
-€17
Contributions, distributions and other
-€12,187
Cash 2025
€37,798
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €410,639 | €396,714 | -€13,925 | -3.4% |
| Fixed assets | 21/28 | €367,209 | €354,973 | -€12,236 | -3.3% |
| Tangible fixed assets | 22/27 | €331,759 | €319,523 | -€12,236 | -3.7% |
| Land and buildings | 22 | €331,267 | €319,208 | -€12,059 | -3.6% |
| Plant, machinery and equipment | 23 | €236 | €164 | -€72 | -30.5% |
| Furniture and vehicles | 24 | €255 | €151 | -€104 | -40.9% |
| Financial fixed assets | 28 | €35,450 | €35,450 | = | 0.0% |
| Current assets | 29/58 | €43,430 | €41,740 | -€1,690 | -3.9% |
| Amounts receivable within one year | 40/41 | €1,756 | €2,990 | +€1,234 | +70.3% |
| Trade receivables | 40 | €1,050 | €0 | -€1,050 | -100% |
| Other amounts receivable | 41 | €706 | €2,990 | +€2,284 | +324% |
| Cash at bank and in hand | 54/58 | €41,674 | €37,798 | -€3,876 | -9.3% |
| Deferred charges and accrued income | 490/1 | - | €952 | +€952 | |
| Total equity and liabilities | 10/49 | €410,639 | €396,714 | -€13,925 | -3.4% |
| Equity | 10/15 | €136,630 | €157,158 | +€20,528 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,222 | €122,360 | +€21,137 | +20.9% |
| Distributable reserves | 133 | €101,222 | €122,360 | +€21,137 | +20.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €16,808 | €16,199 | -€609 | -3.6% |
| Amounts payable | 17/49 | €274,009 | €239,555 | -€34,453 | -12.6% |
| Amounts payable after more than one year | 17 | €222,520 | €186,270 | -€36,250 | -16.3% |
| Financial debts | 170/4 | €222,520 | €186,270 | -€36,250 | -16.3% |
| Amounts payable within one year | 42/48 | €51,488 | €53,285 | +€1,797 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €35,365 | €36,250 | +€885 | +2.5% |
| Financial debts | 43 | €3,381 | €3,364 | -€17 | -0.5% |
| Credit institutions | 430/8 | €3,381 | €3,364 | -€17 | -0.5% |
| Trade debts | 44 | €331 | €1,400 | +€1,069 | +322% |
| Suppliers | 440/4 | €331 | €1,400 | +€1,069 | +322% |
| Taxes, remuneration and social security | 45 | €5,125 | €4,166 | -€958 | -18.7% |
| Taxes | 450/3 | €4,575 | €4,166 | -€408 | -8.9% |
| Remuneration and social security | 454/9 | €550 | €0 | -€550 | -100% |
| Other amounts payable | 47/48 | €7,287 | €8,105 | +€818 | +11.2% |
| Non-recurring operating income | 76A | - | €386 | +€386 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,189 | €12,236 | +€47 | +0.4% |
| Other operating charges | 640/8 | €1,553 | €1,180 | -€373 | -24.0% |
| Gross operating margin | 9900 | €71,705 | €61,956 | -€9,749 | -13.6% |
| Operating profit (loss) | 9901 | €57,963 | €48,541 | -€9,423 | -16.3% |
| Financial income | 75/76B | €764 | €804 | +€40 | +5.2% |
| Recurring financial income | 75 | €764 | €804 | +€40 | +5.2% |
| Financial charges | 65/66B | €7,469 | €7,666 | +€197 | +2.6% |
| Recurring financial charges | 65 | €7,469 | €7,666 | +€197 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €51,258 | €41,678 | -€9,579 | -18.7% |
| Income taxes | 67/77 | €10,756 | €8,963 | -€1,793 | -16.7% |
| Profit (loss) for the period | 9904 | €40,501 | €32,715 | -€7,786 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,501 | €32,715 | -€7,786 | -19.2% |
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 17 October 2026 via checked.be.