SEBASTIEN ROBERT: 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.
SEBASTIEN ROBERT
Largest movements
- Receivables within one year +€43,646
up €43,646 (+69.8%), from €62,536 to €106,182
of which Trade receivables: +€46,027
- Cash +€17,712
new in 2025: €17,712
mainly Advances received (+€24,422) and Net result for the year (+€17,817)
- Current investments -€5,579
no longer reported in 2025 (was €5,579)
- Tangible fixed assets -€5,469
down €5,469 (-30.9%), from €17,727 to €12,258
of which Furniture and vehicles: -€5,000
- Advances received +€24,422
up €24,422 (+81.4%), from €30,000 to €54,422
- Profit (loss) carried forward +€17,817
up €17,817 (+40.8%), from €43,647 to €61,464
- Tax, wage and social debts +€10,683
up €10,683 (+67.2%), from €15,898 to €26,581
of which Taxes: +€6,998
- Trade debts -€8,377
down €8,377 (-95.4%), from €8,780 to €403
- Other debts +€4,926
up €4,926 (+26.3%), from €18,736 to €23,662
- Staff costs +€45,449
up €45,449 (+420%), from €10,833 to €56,282
- Gross operating margin +€13,611
up €13,611 (+18.6%), from €73,014 to €86,625
- Taxes -€10,300
down €10,300 (-70.1%), from €14,700 to €4,400
- Depreciation +€4,957
up €4,957 (+131%), from €3,773 to €8,730
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 | €122,061 | €171,532 | +€49,471 | +40.5% |
| Fixed assets | 21/28 | €17,932 | €12,463 | -€5,469 | -30.5% |
| Tangible fixed assets | 22/27 | €17,727 | €12,258 | -€5,469 | -30.9% |
| Plant, machinery and equipment | 23 | €6,224 | €5,755 | -€469 | -7.5% |
| Furniture and vehicles | 24 | €11,503 | €6,503 | -€5,000 | -43.5% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €104,129 | €159,069 | +€54,940 | +52.8% |
| Stocks and contracts in progress | 3 | €36,014 | €35,175 | -€839 | -2.3% |
| Stocks | 30/36 | €36,014 | €35,175 | -€839 | -2.3% |
| Amounts receivable within one year | 40/41 | €62,536 | €106,182 | +€43,646 | +69.8% |
| Trade receivables | 40 | €60,155 | €106,182 | +€46,027 | +76.5% |
| Other amounts receivable | 41 | €2,381 | - | -€2,381 | |
| Current investments | 50/53 | €5,579 | - | -€5,579 | |
| Cash at bank and in hand | 54/58 | - | €17,712 | +€17,712 | |
| Total equity and liabilities | 10/49 | €122,061 | €171,532 | +€49,471 | +40.5% |
| Equity | 10/15 | €48,647 | €66,464 | +€17,817 | +36.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,647 | €61,464 | +€17,817 | +40.8% |
| Amounts payable | 17/49 | €73,414 | €105,068 | +€31,654 | +43.1% |
| Amounts payable within one year | 42/48 | €73,414 | €105,068 | +€31,654 | +43.1% |
| Trade debts | 44 | €8,780 | €403 | -€8,377 | -95.4% |
| Suppliers | 440/4 | €8,780 | €403 | -€8,377 | -95.4% |
| Advances received on contracts in progress | 46 | €30,000 | €54,422 | +€24,422 | +81.4% |
| Taxes, remuneration and social security | 45 | €15,898 | €26,581 | +€10,683 | +67.2% |
| Taxes | 450/3 | €15,898 | €22,896 | +€6,998 | +44.0% |
| Remuneration and social security | 454/9 | - | €3,685 | +€3,685 | |
| Other amounts payable | 47/48 | €18,736 | €23,662 | +€4,926 | +26.3% |
| Remuneration, social security and pensions | 62 | €10,833 | €56,282 | +€45,449 | +420% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,773 | €8,730 | +€4,957 | +131% |
| Other operating charges | 640/8 | €921 | €446 | -€475 | -51.6% |
| Gross operating margin | 9900 | €73,014 | €86,625 | +€13,611 | +18.6% |
| Operating profit (loss) | 9901 | €57,487 | €21,167 | -€36,320 | -63.2% |
| Financial income | 75/76B | €985 | €1,266 | +€281 | +28.5% |
| Recurring financial income | 75 | €985 | €1,266 | +€281 | +28.5% |
| Financial charges | 65/66B | €125 | €216 | +€91 | +72.8% |
| Recurring financial charges | 65 | €125 | €216 | +€91 | +72.8% |
| Profit (loss) for the period before taxes | 9903 | €58,347 | €22,217 | -€36,130 | -61.9% |
| Income taxes | 67/77 | €14,700 | €4,400 | -€10,300 | -70.1% |
| Profit (loss) for the period | 9904 | €43,647 | €17,817 | -€25,830 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,647 | €17,817 | -€25,830 | -59.2% |
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 20 October 2026 via checked.be.