SEBAMAX: what changed
Two fiscal 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.
SEBAMAX
Largest movements
- Receivables within one year +€205,003
up €205,003 (+190364.1%), from €108 to €205,111
of which Other amounts receivable: +€200,003
- Receivables after one year -€25,000
down €25,000 (-50.0%), from €50,000 to €25,000
- Cash +€6,198
up €6,198 (+69.7%), from €8,887 to €15,085
mainly Net result for the year (+€558,198) and Other debts (+€183,970)
- Other debts +€183,970
up €183,970 (+245.1%), from €75,073 to €259,044
- Financial income +€312,197
up €312,197 (+122.9%), from €253,952 to €566,149
- Gross operating margin +€4,637
up €4,637 (+45.1%), from -€10,290 to -€5,653
- Depreciation +€905
up €905 (+112.5%), from €804 to €1,709
- Other operating charges -€443
down €443 (-44.9%), from €987 to €544
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.
Cash bridge derived
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 | €77,199 | €261,689 | +€184,490 | +239.0% |
| Fixed assets | 21/28 | €18,160 | €16,449 | -€1,711 | -9.4% |
| Tangible fixed assets | 22/27 | €8,258 | €6,549 | -€1,709 | -20.7% |
| Furniture and vehicles | 24 | €4,357 | €2,648 | -€1,709 | -39.2% |
| Other tangible fixed assets | 26 | €3,901 | €3,901 | = | 0.0% |
| Financial fixed assets | 28 | €9,902 | €9,900 | -€2 | 0.0% |
| Current assets | 29/58 | €59,039 | €245,240 | +€186,201 | +315.4% |
| Amounts receivable after more than one year | 29 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Other amounts receivable | 291 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €108 | €205,111 | +€205,003 | +190364.1% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €108 | €200,111 | +€200,003 | +185721.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,887 | €15,085 | +€6,198 | +69.7% |
| Deferred charges and accrued income | 490/1 | €44 | €44 | = | 0.0% |
| Total equity and liabilities | 10/49 | €77,199 | €261,689 | +€184,490 | +239.0% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,199 | €260,689 | +€184,490 | +242.1% |
| Amounts payable within one year | 42/48 | €76,199 | €260,689 | +€184,490 | +242.1% |
| Trade debts | 44 | €1,125 | €1,645 | +€520 | +46.2% |
| Suppliers | 440/4 | €1,125 | €1,645 | +€520 | +46.2% |
| Other amounts payable | 47/48 | €75,073 | €259,044 | +€183,970 | +245.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804 | €1,709 | +€905 | +112.5% |
| Other operating charges | 640/8 | €987 | €544 | -€443 | -44.9% |
| Gross operating margin | 9900 | -€10,290 | -€5,653 | +€4,637 | +45.1% |
| Operating profit (loss) | 9901 | -€12,081 | -€7,906 | +€4,176 | +34.6% |
| Financial income | 75/76B | €253,952 | €566,149 | +€312,197 | +122.9% |
| Recurring financial income | 75 | €253,952 | €566,149 | +€312,197 | +122.9% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €241,827 | €558,198 | +€316,371 | +130.8% |
| Profit (loss) for the period | 9904 | €241,827 | €558,198 | +€316,371 | +130.8% |
| Profit (loss) for the period to be appropriated | 9905 | €241,827 | €558,198 | +€316,371 | +130.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.