SEBATI: 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.
SEBATI
Largest movements
- Receivables within one year -€347,860
down €347,860 (-51.5%), from €675,903 to €328,043
of which Other amounts receivable: -€275,630
- Cash +€89,349
up €89,349 (+17.1%), from €522,320 to €611,669
mainly Receivables within one year (+€347,860) and Net result for the year (+€172,680)
- Stocks and contracts -€41,977
down €41,977 (-25.8%), from €162,977 to €121,000
- Other debts -€268,605
down €268,605 (-90.4%), from €296,993 to €28,388
- Trade debts -€211,520
down €211,520 (-50.2%), from €421,228 to €209,708
- Reserves +€172,680
up €172,680 (+55.7%), from €309,793 to €482,473
- Debts after one year -€78,777
down €78,777 (-24.2%), from €325,531 to €246,753
- Advances received +€46,410
up €46,410 (+43.5%), from €106,670 to €153,080
- Gross operating margin +€218,390
up €218,390 (+23.6%), from €923,774 to €1.1m
- Taxes +€64,104
up €64,104 (+322%), from €19,933 to €84,037
- Staff costs +€50,010
up €50,010 (+7.0%), from €714,578 to €764,588
- Financial income +€36,982
up €36,982 (+645%), from €5,735 to €42,717
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 | €2,099,223 | €1,819,564 | -€279,659 | -13.3% |
| Fixed assets | 21/28 | €720,069 | €733,045 | +€12,976 | +1.8% |
| Tangible fixed assets | 22/27 | €676,289 | €689,265 | +€12,976 | +1.9% |
| Land and buildings | 22 | €467,252 | €414,495 | -€52,757 | -11.3% |
| Plant, machinery and equipment | 23 | €1,153 | €10,345 | +€9,192 | +797% |
| Furniture and vehicles | 24 | €143,690 | €218,675 | +€74,985 | +52.2% |
| Leasing and similar rights | 25 | €64,194 | €45,750 | -€18,444 | -28.7% |
| Financial fixed assets | 28 | €43,780 | €43,780 | = | 0.0% |
| Current assets | 29/58 | €1,379,153 | €1,086,519 | -€292,635 | -21.2% |
| Stocks and contracts in progress | 3 | €162,977 | €121,000 | -€41,977 | -25.8% |
| Stocks | 30/36 | €162,977 | €121,000 | -€41,977 | -25.8% |
| Amounts receivable within one year | 40/41 | €675,903 | €328,043 | -€347,860 | -51.5% |
| Trade receivables | 40 | €330,922 | €258,692 | -€72,230 | -21.8% |
| Other amounts receivable | 41 | €344,981 | €69,351 | -€275,630 | -79.9% |
| Cash at bank and in hand | 54/58 | €522,320 | €611,669 | +€89,349 | +17.1% |
| Deferred charges and accrued income | 490/1 | €17,952 | €25,806 | +€7,854 | +43.7% |
| Total equity and liabilities | 10/49 | €2,099,223 | €1,819,564 | -€279,659 | -13.3% |
| Equity | 10/15 | €631,394 | €804,074 | +€172,680 | +27.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €309,793 | €482,473 | +€172,680 | +55.7% |
| Distributable reserves | 133 | €309,793 | €482,473 | +€172,680 | +55.7% |
| Profit (loss) carried forward | 14 | €307,341 | €307,341 | = | 0.0% |
| Amounts payable | 17/49 | €1,467,829 | €1,015,489 | -€452,339 | -30.8% |
| Amounts payable after more than one year | 17 | €325,531 | €246,753 | -€78,777 | -24.2% |
| Financial debts | 170/4 | €325,531 | €246,753 | -€78,777 | -24.2% |
| Amounts payable within one year | 42/48 | €1,122,213 | €722,455 | -€399,758 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €186,323 | €178,541 | -€7,782 | -4.2% |
| Financial debts | 43 | €4,657 | €5,057 | +€400 | +8.6% |
| Other loans | 439 | €4,657 | €5,057 | +€400 | +8.6% |
| Trade debts | 44 | €421,228 | €209,708 | -€211,520 | -50.2% |
| Suppliers | 440/4 | €421,228 | €209,708 | -€211,520 | -50.2% |
| Advances received on contracts in progress | 46 | €106,670 | €153,080 | +€46,410 | +43.5% |
| Taxes, remuneration and social security | 45 | €106,342 | €147,681 | +€41,339 | +38.9% |
| Taxes | 450/3 | €54,629 | €122,484 | +€67,855 | +124% |
| Remuneration and social security | 454/9 | €51,713 | €25,197 | -€26,516 | -51.3% |
| Other amounts payable | 47/48 | €296,993 | €28,388 | -€268,605 | -90.4% |
| Accrued charges and deferred income | 492/3 | €20,085 | €46,281 | +€26,196 | +130% |
| Remuneration, social security and pensions | 62 | €714,578 | €764,588 | +€50,010 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,931 | €132,548 | -€383 | -0.3% |
| Other operating charges | 640/8 | €15,537 | €15,183 | -€354 | -2.3% |
| Gross operating margin | 9900 | €923,774 | €1,142,164 | +€218,390 | +23.6% |
| Operating profit (loss) | 9901 | €60,728 | €229,845 | +€169,117 | +278% |
| Financial income | 75/76B | €5,735 | €42,717 | +€36,982 | +645% |
| Recurring financial income | 75 | €5,735 | €42,717 | +€36,982 | +645% |
| Financial charges | 65/66B | €16,624 | €15,846 | -€778 | -4.7% |
| Recurring financial charges | 65 | €16,624 | €15,846 | -€778 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €49,839 | €256,717 | +€206,878 | +415% |
| Income taxes | 67/77 | €19,933 | €84,037 | +€64,104 | +322% |
| Profit (loss) for the period | 9904 | €29,906 | €172,680 | +€142,774 | +477% |
| Profit (loss) for the period to be appropriated | 9905 | €29,906 | €172,680 | +€142,774 | +477% |
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 14 October 2026 via checked.be.