SEBCO: 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.
SEBCO
Largest movements
- Cash +€239,808
up €239,808 (+181%), from €132,700 to €372,508
mainly Net result for the year (+€430,926) and Debts after one year (+€230,000)
- Receivables within one year +€14,863
up €14,863 (+41.2%), from €36,085 to €50,947
of which Trade receivables: +€11,960
- Debts after one year +€230,000
up €230,000 (+162%), from €142,000 to €372,000
- Other debts +€17,806
up €17,806 (+126%), from €14,168 to €31,974
- Trade debts +€4,974
up €4,974 (+441%), from €1,128 to €6,102
- Financial income +€349,389
up €349,389 (+3,493,891,900%), from €0 to €349,389
- Gross operating margin +€47,908
up €47,908 (+74.6%), from €64,248 to €112,156
- Taxes +€10,304
up €10,304 (+69.7%), from €14,793 to €25,097
- Financial charges +€1,461
up €1,461 (+1,895%), from €77 to €1,538
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 | €176,754 | €430,203 | +€253,449 | +143% |
| Fixed assets | 21/28 | €6,113 | €4,964 | -€1,149 | -18.8% |
| Tangible fixed assets | 22/27 | €5,413 | €4,264 | -€1,149 | -21.2% |
| Furniture and vehicles | 24 | €3,856 | €3,226 | -€630 | -16.3% |
| Other tangible fixed assets | 26 | €1,556 | €1,037 | -€519 | -33.3% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €170,641 | €425,239 | +€254,598 | +149% |
| Amounts receivable within one year | 40/41 | €36,085 | €50,947 | +€14,863 | +41.2% |
| Trade receivables | 40 | €35,542 | €47,501 | +€11,960 | +33.6% |
| Other amounts receivable | 41 | €543 | €3,446 | +€2,903 | +535% |
| Cash at bank and in hand | 54/58 | €132,700 | €372,508 | +€239,808 | +181% |
| Deferred charges and accrued income | 490/1 | €1,857 | €1,784 | -€72 | -3.9% |
| Total equity and liabilities | 10/49 | €176,754 | €430,203 | +€253,449 | +143% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,154 | €411,603 | +€253,449 | +160% |
| Amounts payable after more than one year | 17 | €142,000 | €372,000 | +€230,000 | +162% |
| Financial debts | 170/4 | €142,000 | €372,000 | +€230,000 | +162% |
| Amounts payable within one year | 42/48 | €16,154 | €38,286 | +€22,132 | +137% |
| Trade debts | 44 | €1,128 | €6,102 | +€4,974 | +441% |
| Suppliers | 440/4 | €1,128 | €6,102 | +€4,974 | +441% |
| Taxes, remuneration and social security | 45 | €858 | €211 | -€647 | -75.5% |
| Taxes | 450/3 | €858 | €211 | -€647 | -75.5% |
| Other amounts payable | 47/48 | €14,168 | €31,974 | +€17,806 | +126% |
| Accrued charges and deferred income | 492/3 | - | €1,317 | +€1,317 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,161 | €3,479 | -€682 | -16.4% |
| Other operating charges | 640/8 | €387 | €506 | +€118 | +30.6% |
| Gross operating margin | 9900 | €64,248 | €112,156 | +€47,908 | +74.6% |
| Operating profit (loss) | 9901 | €59,700 | €108,172 | +€48,471 | +81.2% |
| Financial income | 75/76B | €0 | €349,389 | +€349,389 | +3,493,891,900% |
| Recurring financial income | 75 | €0 | €349,389 | +€349,389 | +3,493,891,900% |
| Financial charges | 65/66B | €77 | €1,538 | +€1,461 | +1,895% |
| Recurring financial charges | 65 | €77 | €1,538 | +€1,461 | +1,895% |
| Profit (loss) for the period before taxes | 9903 | €59,623 | €456,023 | +€396,399 | +665% |
| Income taxes | 67/77 | €14,793 | €25,097 | +€10,304 | +69.7% |
| Profit (loss) for the period | 9904 | €44,830 | €430,926 | +€386,095 | +861% |
| Profit (loss) for the period to be appropriated | 9905 | €44,830 | €430,926 | +€386,095 | +861% |
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 24 October 2026 via checked.be.