SEBA Works: 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.
SEBA Works
Largest movements
- Receivables within one year -€31,127
down €31,127 (-88.4%), from €35,225 to €4,098
of which Trade receivables: -€26,540
- Cash +€2,798
up €2,798 (+195%), from €1,435 to €4,233
mainly Receivables within one year (+€31,127) and Depreciation (+€1,852)
- Stocks and contracts +€2,500
up €2,500 (+100%), from €2,500 to €5,000
- Tangible fixed assets +€840
up €840 (+10.3%), from €8,187 to €9,026
of which Assets under construction and advance payments: +€2,692
- Deferred charges and accrued income +€524
up €524 (+79.8%), from €656 to €1,179
- Profit (loss) carried forward -€16,479
down €16,479 (-1,326%), from -€1,243 to -€17,722
- Trade debts -€4,379
down €4,379 (-59.9%), from €7,308 to €2,928
- Other debts -€3,609
down €3,609 (-9.3%), from €38,938 to €35,330
- Gross operating margin +€1,424
up €1,424 (+10.9%), from -€13,066 to -€11,642
- Other operating charges +€432
up €432 (+62.2%), from €695 to €1,127
- Financial charges -€359
down €359 (-16.2%), from €2,217 to €1,858
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 | €48,003 | €23,536 | -€24,467 | -51.0% |
| Fixed assets | 21/28 | €8,187 | €9,026 | +€840 | +10.3% |
| Tangible fixed assets | 22/27 | €8,187 | €9,026 | +€840 | +10.3% |
| Furniture and vehicles | 24 | €2,042 | €189 | -€1,852 | -90.7% |
| Assets under construction and advance payments | 27 | €6,145 | €8,837 | +€2,692 | +43.8% |
| Current assets | 29/58 | €39,816 | €14,510 | -€25,306 | -63.6% |
| Stocks and contracts in progress | 3 | €2,500 | €5,000 | +€2,500 | +100% |
| Stocks | 30/36 | €2,500 | €5,000 | +€2,500 | +100% |
| Amounts receivable within one year | 40/41 | €35,225 | €4,098 | -€31,127 | -88.4% |
| Trade receivables | 40 | €26,540 | - | -€26,540 | |
| Other amounts receivable | 41 | €8,685 | €4,098 | -€4,587 | -52.8% |
| Cash at bank and in hand | 54/58 | €1,435 | €4,233 | +€2,798 | +195% |
| Deferred charges and accrued income | 490/1 | €656 | €1,179 | +€524 | +79.8% |
| Total equity and liabilities | 10/49 | €48,003 | €23,536 | -€24,467 | -51.0% |
| Equity | 10/15 | €1,757 | -€14,722 | -€16,479 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,243 | -€17,722 | -€16,479 | -1,326% |
| Amounts payable | 17/49 | €46,246 | €38,258 | -€7,988 | -17.3% |
| Amounts payable within one year | 42/48 | €46,246 | €38,258 | -€7,988 | -17.3% |
| Trade debts | 44 | €7,308 | €2,928 | -€4,379 | -59.9% |
| Suppliers | 440/4 | €7,308 | €2,928 | -€4,379 | -59.9% |
| Other amounts payable | 47/48 | €38,938 | €35,330 | -€3,609 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,855 | €1,852 | -€3 | -0.1% |
| Other operating charges | 640/8 | €695 | €1,127 | +€432 | +62.2% |
| Gross operating margin | 9900 | -€13,066 | -€11,642 | +€1,424 | +10.9% |
| Operating profit (loss) | 9901 | -€15,616 | -€14,621 | +€995 | +6.4% |
| Financial charges | 65/66B | €2,217 | €1,858 | -€359 | -16.2% |
| Recurring financial charges | 65 | €2,217 | €1,858 | -€359 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€17,833 | -€16,479 | +€1,354 | +7.6% |
| Profit (loss) for the period | 9904 | -€17,833 | -€16,479 | +€1,354 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,833 | -€16,479 | +€1,354 | +7.6% |
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 26 October 2026 via checked.be.