SEBARIC: 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.
SEBARIC
Largest movements
- Current investments -€692,259
down €692,259 (-65.3%), from €1.1m to €367,903
- Debts after one year -€611,477
down €611,477 (-36.2%), from €1.7m to €1.1m
of which Other amounts payable: -€615,000
- Reserves -€50,000
down €50,000 (-4.5%), from €1.1m to €1.1m
of which Distributable reserves: -€50,000
- Depreciation -€186,645
down €186,645 (-75.9%), from €245,791 to €59,146
- Taxes -€31,518
no longer reported in 2025 (was €31,518)
- Financial income -€22,168
down €22,168 (-49.0%), from €45,277 to €23,108
- Gross operating margin +€13,618
up €13,618 (+22.0%), from €61,893 to €75,511
- Financial charges -€10,565
down €10,565 (-12.7%), from €83,086 to €72,522
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 | €3,028,143 | €2,368,848 | -€659,295 | -21.8% |
| Fixed assets | 21/28 | €1,934,670 | €1,955,764 | +€21,093 | +1.1% |
| Tangible fixed assets | 22/27 | €1,934,590 | €1,955,745 | +€21,155 | +1.1% |
| Land and buildings | 22 | €1,934,590 | €1,955,745 | +€21,155 | +1.1% |
| Financial fixed assets | 28 | €81 | €19 | -€62 | -76.9% |
| Current assets | 29/58 | €1,093,472 | €413,084 | -€680,388 | -62.2% |
| Amounts receivable within one year | 40/41 | €23,791 | €15,945 | -€7,845 | -33.0% |
| Trade receivables | 40 | €15,791 | - | -€15,791 | |
| Other amounts receivable | 41 | €8,000 | €15,945 | +€7,945 | +99.3% |
| Current investments | 50/53 | €1,060,162 | €367,903 | -€692,259 | -65.3% |
| Cash at bank and in hand | 54/58 | €8,682 | €28,469 | +€19,787 | +227.9% |
| Deferred charges and accrued income | 490/1 | €837 | €767 | -€70 | -8.4% |
| Total equity and liabilities | 10/49 | €3,028,143 | €2,368,848 | -€659,295 | -21.8% |
| Equity | 10/15 | €1,300,825 | €1,261,707 | -€39,118 | -3.0% |
| Contributions | 10/11 | €165,600 | €165,600 | = | 0.0% |
| Capital | 10 | €165,600 | €165,600 | = | 0.0% |
| Issued capital | 100 | €165,600 | €165,600 | = | 0.0% |
| Reserves | 13 | €1,121,810 | €1,071,810 | -€50,000 | -4.5% |
| Non-distributable reserves | 130/1 | €16,560 | €16,560 | = | 0.0% |
| Legal reserve | 130 | €16,560 | €16,560 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €1,000,000 | €950,000 | -€50,000 | -5.0% |
| Profit (loss) carried forward | 14 | €13,415 | €24,297 | +€10,882 | +81.1% |
| Amounts payable | 17/49 | €1,727,318 | €1,107,141 | -€620,177 | -35.9% |
| Amounts payable after more than one year | 17 | €1,690,870 | €1,079,393 | -€611,477 | -36.2% |
| Financial debts | 170/4 | €1,015,870 | €1,019,393 | +€3,523 | +0.3% |
| Other amounts payable | 178/9 | €675,000 | €60,000 | -€615,000 | -91.1% |
| Amounts payable within one year | 42/48 | €36,448 | €27,747 | -€8,700 | -23.9% |
| Trade debts | 44 | €3,598 | €1,947 | -€1,652 | -45.9% |
| Suppliers | 440/4 | €3,598 | €1,947 | -€1,652 | -45.9% |
| Taxes, remuneration and social security | 45 | €29,253 | €21,428 | -€7,825 | -26.7% |
| Taxes | 450/3 | €29,253 | €21,428 | -€7,825 | -26.7% |
| Other amounts payable | 47/48 | €3,597 | €4,373 | +€776 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245,791 | €59,146 | -€186,645 | -75.9% |
| Other operating charges | 640/8 | €5,980 | €6,069 | +€89 | +1.5% |
| Gross operating margin | 9900 | €61,893 | €75,511 | +€13,618 | +22.0% |
| Operating profit (loss) | 9901 | -€189,877 | €10,296 | +€200,173 | |
| Financial income | 75/76B | €45,277 | €23,108 | -€22,168 | -49.0% |
| Recurring financial income | 75 | €45,277 | €23,108 | -€22,168 | -49.0% |
| Financial charges | 65/66B | €83,086 | €72,522 | -€10,565 | -12.7% |
| Recurring financial charges | 65 | €83,086 | €72,522 | -€10,565 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€227,687 | -€39,118 | +€188,569 | +82.8% |
| Transfer from deferred taxes | 780 | €90,766 | - | -€90,766 | |
| Income taxes | 67/77 | €31,518 | - | -€31,518 | |
| Profit (loss) for the period | 9904 | -€168,439 | -€39,118 | +€129,321 | +76.8% |
| Transfer from tax-exempt reserves | 789 | €272,298 | - | -€272,298 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,659 | -€39,118 | -€58,777 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.