SEBDEC: 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.
SEBDEC
Largest movements
- Tangible fixed assets +€59,673
up €59,673 (+271%), from €22,026 to €81,698
of which Furniture and vehicles: +€61,147
- Receivables within one year +€30,552
up €30,552, from €0 to €30,552
- Cash -€26,225
down €26,225 (-56.3%), from €46,587 to €20,363
mainly Investment in fixed assets (net) (-€67,743) and Receivables within one year (-€30,552)
- Deferred charges and accrued income +€2,420
new in 2025: €2,420
- Debts after one year +€50,000
new in 2025: €50,000
- Profit (loss) carried forward +€23,139
up €23,139 (+53.1%), from €43,553 to €66,692
- Tax, wage and social debts -€3,097
down €3,097 (-60.6%), from €5,111 to €2,014
of which Taxes: -€3,115
- Trade debts -€2,239
down €2,239 (-62.8%), from €3,567 to €1,328
- Other debts -€1,382
down €1,382 (-21.7%), from €6,382 to €5,000
- Taxes -€10,562
down €10,562, from €9,201 to -€1,361
- Gross operating margin +€8,423
up €8,423 (+37.7%), from €22,349 to €30,772
- Depreciation +€3,322
up €3,322 (+70.0%), from €4,748 to €8,070
- Other operating charges -€419
down €419 (-37.7%), from €1,109 to €691
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 | €68,613 | €135,034 | +€66,421 | +96.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €22,026 | €81,698 | +€59,673 | +271% |
| Tangible fixed assets | 22/27 | €22,026 | €81,698 | +€59,673 | +271% |
| Land and buildings | 22 | €5,793 | €4,726 | -€1,067 | -18.4% |
| Plant, machinery and equipment | 23 | €2,008 | €1,600 | -€408 | -20.3% |
| Furniture and vehicles | 24 | €14,225 | €75,372 | +€61,147 | +430% |
| Current assets | 29/58 | €46,587 | €53,335 | +€6,748 | +14.5% |
| Amounts receivable within one year | 40/41 | €0 | €30,552 | +€30,552 | |
| Other amounts receivable | 41 | €0 | €30,552 | +€30,552 | |
| Cash at bank and in hand | 54/58 | €46,587 | €20,363 | -€26,225 | -56.3% |
| Deferred charges and accrued income | 490/1 | - | €2,420 | +€2,420 | |
| Total equity and liabilities | 10/49 | €68,613 | €135,034 | +€66,421 | +96.8% |
| Equity | 10/15 | €53,553 | €76,692 | +€23,139 | +43.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,553 | €66,692 | +€23,139 | +53.1% |
| Amounts payable | 17/49 | €15,060 | €58,341 | +€43,281 | +287% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Financial debts | 170/4 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €15,060 | €8,341 | -€6,719 | -44.6% |
| Trade debts | 44 | €3,567 | €1,328 | -€2,239 | -62.8% |
| Suppliers | 440/4 | €3,567 | €1,328 | -€2,239 | -62.8% |
| Taxes, remuneration and social security | 45 | €5,111 | €2,014 | -€3,097 | -60.6% |
| Taxes | 450/3 | €3,115 | - | -€3,115 | |
| Remuneration and social security | 454/9 | €1,995 | €2,014 | +€18 | +0.9% |
| Other amounts payable | 47/48 | €6,382 | €5,000 | -€1,382 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,748 | €8,070 | +€3,322 | +70.0% |
| Other operating charges | 640/8 | €1,109 | €691 | -€419 | -37.7% |
| Non-recurring operating charges | 66A | €713 | - | -€713 | |
| Gross operating margin | 9900 | €22,349 | €30,772 | +€8,423 | +37.7% |
| Operating profit (loss) | 9901 | €15,779 | €22,011 | +€6,232 | +39.5% |
| Financial charges | 65/66B | €149 | €233 | +€84 | +56.7% |
| Recurring financial charges | 65 | €149 | €233 | +€84 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €15,630 | €21,778 | +€6,148 | +39.3% |
| Income taxes | 67/77 | €9,201 | -€1,361 | -€10,562 | |
| Profit (loss) for the period | 9904 | €6,430 | €23,139 | +€16,710 | +260% |
| Profit (loss) for the period to be appropriated | 9905 | €6,430 | €23,139 | +€16,710 | +260% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.