SEBARN MANAGEMENT: 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.
SEBARN MANAGEMENT
Largest movements
- Receivables within one year -€9,658
down €9,658 (-93.3%), from €10,350 to €692
of which Trade receivables: -€10,350
- Deferred charges and accrued income -€699
down €699 (-79.3%), from €882 to €183
- Tangible fixed assets -€473
down €473 (-32.2%), from €1,467 to €994
- Profit (loss) carried forward -€26,188
down €26,188 (-80.6%), from -€32,491 to -€58,679
- Other debts +€25,707
up €25,707 (+281%), from €9,163 to €34,870
- Trade debts -€4,267
down €4,267 (-60.4%), from €7,067 to €2,800
- Tax, wage and social debts -€3,208
down €3,208 (-92.0%), from €3,486 to €278
- Short-term financial debts -€2,874
down €2,874 (-41.7%), from €6,899 to €4,025
- Gross operating margin +€6,916
up €6,916 (+26.3%), from -€26,336 to -€19,420
- Financial charges +€3,712
up €3,712 (+297%), from €1,249 to €4,961
of which Financial charges: +€4,055
- Other operating charges -€934
down €934 (-46.9%), from €1,990 to €1,056
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,724 | €1,894 | -€10,830 | -85.1% |
| Fixed assets | 21/28 | €1,492 | €1,019 | -€473 | -31.7% |
| Tangible fixed assets | 22/27 | €1,467 | €994 | -€473 | -32.2% |
| Furniture and vehicles | 24 | €1,467 | €994 | -€473 | -32.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €11,232 | €875 | -€10,357 | -92.2% |
| Amounts receivable within one year | 40/41 | €10,350 | €692 | -€9,658 | -93.3% |
| Trade receivables | 40 | €10,350 | - | -€10,350 | |
| Other amounts receivable | 41 | - | €692 | +€692 | |
| Deferred charges and accrued income | 490/1 | €882 | €183 | -€699 | -79.3% |
| Total equity and liabilities | 10/49 | €12,724 | €1,894 | -€10,830 | -85.1% |
| Equity | 10/15 | -€13,891 | -€40,079 | -€26,188 | -189% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,491 | -€58,679 | -€26,188 | -80.6% |
| Amounts payable | 17/49 | €26,615 | €41,973 | +€15,358 | +57.7% |
| Amounts payable within one year | 42/48 | €26,615 | €41,973 | +€15,358 | +57.7% |
| Financial debts | 43 | €6,899 | €4,025 | -€2,874 | -41.7% |
| Credit institutions | 430/8 | €6,899 | €4,025 | -€2,874 | -41.7% |
| Trade debts | 44 | €7,067 | €2,800 | -€4,267 | -60.4% |
| Suppliers | 440/4 | €7,067 | €2,800 | -€4,267 | -60.4% |
| Taxes, remuneration and social security | 45 | €3,486 | €278 | -€3,208 | -92.0% |
| Taxes | 450/3 | €3,486 | €278 | -€3,208 | -92.0% |
| Other amounts payable | 47/48 | €9,163 | €34,870 | +€25,707 | +281% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €473 | €473 | = | 0.0% |
| Other operating charges | 640/8 | €1,990 | €1,056 | -€934 | -46.9% |
| Non-recurring operating charges | 66A | €5,000 | - | -€5,000 | |
| Gross operating margin | 9900 | -€26,336 | -€19,420 | +€6,916 | +26.3% |
| Operating profit (loss) | 9901 | -€33,799 | -€20,949 | +€12,850 | +38.0% |
| Financial charges | 65/66B | €1,249 | €4,961 | +€3,712 | +297% |
| Recurring financial charges | 65 | €906 | €4,961 | +€4,055 | +448% |
| Non-recurring financial charges | 66B | €343 | - | -€343 | |
| Profit (loss) for the period before taxes | 9903 | -€35,048 | -€25,910 | +€9,138 | +26.1% |
| Income taxes | 67/77 | €243 | €278 | +€35 | +14.4% |
| Profit (loss) for the period | 9904 | -€35,291 | -€26,188 | +€9,103 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,291 | -€26,188 | +€9,103 | +25.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.