Sebastian Burg: 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.
Sebastian Burg
Largest movements
- Receivables within one year +€197,407
up €197,407 (+6,041%), from €3,268 to €200,675
of which Trade receivables: +€180,111
- Deferred charges and accrued income -€181,936
down €181,936 (-99.6%), from €182,576 to €640
- Tangible fixed assets +€29,460
up €29,460 (+491%), from €6,003 to €35,463
of which Furniture and vehicles: +€29,927
- Cash +€8,235
up €8,235 (+11.7%), from €70,589 to €78,824
mainly Deferred charges and accrued income (+€181,936) and Net result for the year (+€71,349)
- Reserves +€71,349
up €71,349 (+38.7%), from €184,513 to €255,862
- Tax, wage and social debts -€18,258
down €18,258 (-24.5%), from €74,465 to €56,207
- Gross operating margin +€28,281
up €28,281 (+42.9%), from €65,876 to €94,157
- Taxes +€5,564
up €5,564 (+37.6%), from €14,781 to €20,344
- Other operating charges +€1,059
up €1,059 (+1,660%), from €64 to €1,123
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 | €262,436 | €315,603 | +€53,167 | +20.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,003 | €35,463 | +€29,460 | +491% |
| Tangible fixed assets | 22/27 | €6,003 | €35,463 | +€29,460 | +491% |
| Plant, machinery and equipment | 23 | €743 | €767 | +€25 | +3.3% |
| Furniture and vehicles | 24 | €3,177 | €33,104 | +€29,927 | +942% |
| Other tangible fixed assets | 26 | €2,083 | €1,592 | -€491 | -23.6% |
| Current assets | 29/58 | €256,433 | €280,140 | +€23,707 | +9.2% |
| Amounts receivable within one year | 40/41 | €3,268 | €200,675 | +€197,407 | +6,041% |
| Trade receivables | 40 | €3,091 | €183,202 | +€180,111 | +5,827% |
| Other amounts receivable | 41 | €177 | €17,473 | +€17,296 | +9,782% |
| Cash at bank and in hand | 54/58 | €70,589 | €78,824 | +€8,235 | +11.7% |
| Deferred charges and accrued income | 490/1 | €182,576 | €640 | -€181,936 | -99.6% |
| Total equity and liabilities | 10/49 | €262,436 | €315,603 | +€53,167 | +20.3% |
| Equity | 10/15 | €187,013 | €258,362 | +€71,349 | +38.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €184,513 | €255,862 | +€71,349 | +38.7% |
| Distributable reserves | 133 | €184,513 | €255,862 | +€71,349 | +38.7% |
| Amounts payable | 17/49 | €75,423 | €57,241 | -€18,182 | -24.1% |
| Amounts payable within one year | 42/48 | €74,903 | €57,241 | -€17,663 | -23.6% |
| Trade debts | 44 | €439 | €1,034 | +€595 | +136% |
| Suppliers | 440/4 | €439 | €1,034 | +€595 | +136% |
| Taxes, remuneration and social security | 45 | €74,465 | €56,207 | -€18,258 | -24.5% |
| Taxes | 450/3 | €74,465 | €56,207 | -€18,258 | -24.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €519 | €0 | -€519 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,361 | €1,718 | +€357 | +26.2% |
| Other operating charges | 640/8 | €64 | €1,123 | +€1,059 | +1,660% |
| Gross operating margin | 9900 | €65,876 | €94,157 | +€28,281 | +42.9% |
| Operating profit (loss) | 9901 | €64,451 | €91,317 | +€26,866 | +41.7% |
| Financial income | 75/76B | €828 | €709 | -€119 | -14.4% |
| Recurring financial income | 75 | €828 | €709 | -€119 | -14.4% |
| Financial charges | 65/66B | €164 | €332 | +€168 | +102% |
| Recurring financial charges | 65 | €164 | €332 | +€168 | +102% |
| Profit (loss) for the period before taxes | 9903 | €65,114 | €91,693 | +€26,579 | +40.8% |
| Income taxes | 67/77 | €14,781 | €20,344 | +€5,564 | +37.6% |
| Profit (loss) for the period | 9904 | €50,334 | €71,349 | +€21,016 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,334 | €71,349 | +€21,016 | +41.8% |
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 29 October 2026 via checked.be.