SEBASTIAN LAGA: 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 LAGA
Largest movements
- Cash +€21,825
up €21,825 (+109%), from €20,079 to €41,904
mainly Net result for the year (+€29,512) and Depreciation (+€2,680)
- Tangible fixed assets +€4,238
up €4,238 (+222%), from €1,912 to €6,150
- Deferred charges and accrued income +€2,213
up €2,213 (+324%), from €682 to €2,895
- Receivables within one year +€1,138
up €1,138 (+5.7%), from €19,800 to €20,938
of which Trade receivables: +€4,274
- Reserves +€25,512
up €25,512 (+76.8%), from €33,198 to €58,710
- Tax, wage and social debts +€2,058
up €2,058 (+26.7%), from €7,714 to €9,772
of which Remuneration and social security: +€1,900
- Trade debts +€1,794
up €1,794 (+123%), from €1,462 to €3,256
- Gross operating margin +€11,085
up €11,085 (+39.2%), from €28,274 to €39,359
- Taxes +€1,187
up €1,187 (+21.4%), from €5,551 to €6,737
- Depreciation +€1,146
up €1,146 (+74.8%), from €1,533 to €2,680
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 | €42,474 | €71,888 | +€29,414 | +69.3% |
| Fixed assets | 21/28 | €1,912 | €6,150 | +€4,238 | +222% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -30.8% |
| Tangible fixed assets | 22/27 | €1,912 | €6,150 | +€4,238 | +222% |
| Furniture and vehicles | 24 | €1,912 | €6,150 | +€4,238 | +222% |
| Current assets | 29/58 | €40,562 | €65,738 | +€25,176 | +62.1% |
| Amounts receivable within one year | 40/41 | €19,800 | €20,938 | +€1,138 | +5.7% |
| Trade receivables | 40 | €11,738 | €16,012 | +€4,274 | +36.4% |
| Other amounts receivable | 41 | €8,062 | €4,926 | -€3,136 | -38.9% |
| Cash at bank and in hand | 54/58 | €20,079 | €41,904 | +€21,825 | +109% |
| Deferred charges and accrued income | 490/1 | €682 | €2,895 | +€2,213 | +324% |
| Total equity and liabilities | 10/49 | €42,474 | €71,888 | +€29,414 | +69.3% |
| Equity | 10/15 | €33,298 | €58,810 | +€25,512 | +76.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €33,198 | €58,710 | +€25,512 | +76.8% |
| Distributable reserves | 133 | €33,198 | €58,710 | +€25,512 | +76.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,176 | €13,078 | +€3,902 | +42.5% |
| Amounts payable within one year | 42/48 | €9,176 | €13,028 | +€3,852 | +42.0% |
| Trade debts | 44 | €1,462 | €3,256 | +€1,794 | +123% |
| Suppliers | 440/4 | €1,462 | €3,256 | +€1,794 | +123% |
| Taxes, remuneration and social security | 45 | €7,714 | €9,772 | +€2,058 | +26.7% |
| Taxes | 450/3 | €7,714 | €7,872 | +€158 | +2.0% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,533 | €2,680 | +€1,146 | +74.8% |
| Other operating charges | 640/8 | €620 | €336 | -€284 | -45.8% |
| Gross operating margin | 9900 | €28,274 | €39,359 | +€11,085 | +39.2% |
| Operating profit (loss) | 9901 | €26,120 | €36,343 | +€10,223 | +39.1% |
| Financial income | 75/76B | €0 | €4 | +€4 | +2,983% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +2,983% |
| Financial charges | 65/66B | €72 | €98 | +€26 | +36.6% |
| Recurring financial charges | 65 | €72 | €98 | +€26 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €26,049 | €36,249 | +€10,200 | +39.2% |
| Income taxes | 67/77 | €5,551 | €6,737 | +€1,187 | +21.4% |
| Profit (loss) for the period | 9904 | €20,498 | €29,512 | +€9,014 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,498 | €29,512 | +€9,014 | +44.0% |
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 25 October 2026 via checked.be.