SEBE BUSINESS: 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.
SEBE BUSINESS
Largest movements
- Intangible fixed assets +€16,785
new in 2025: €16,785
- Receivables within one year -€6,634
down €6,634 (-13.2%), from €50,111 to €43,477
of which Trade receivables: -€12,585
- Cash +€803
up €803 (+112%), from €716 to €1,519
mainly Receivables within one year (+€6,634) and Tax, wage and social debts (+€4,377)
- Tax, wage and social debts +€4,377
up €4,377 (+301%), from €1,454 to €5,831
of which Remuneration and social security: +€4,462
- Trade debts +€4,277
up €4,277 (+11.3%), from €37,773 to €42,050
- Reserves +€1,645
up €1,645 (+110%), from €1,502 to €3,147
- Other debts +€1,502
new in 2025: €1,502
- Financial income +€7,352
up €7,352 (+146,460%), from €5 to €7,357
- Other operating charges +€7,284
up €7,284 (+458%), from €1,589 to €8,873
- Gross operating margin +€1,250
up €1,250 (+28.7%), from €4,359 to €5,610
- Financial charges +€1,056
up €1,056 (+128%), from €825 to €1,881
- Depreciation +€65
new in 2025: €65
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 | €51,300 | €62,610 | +€11,310 | +22.0% |
| Fixed assets | 21/28 | - | €16,785 | +€16,785 | |
| Intangible fixed assets | 21 | - | €16,785 | +€16,785 | |
| Current assets | 29/58 | €51,300 | €45,825 | -€5,475 | -10.7% |
| Amounts receivable within one year | 40/41 | €50,111 | €43,477 | -€6,634 | -13.2% |
| Trade receivables | 40 | €48,389 | €35,804 | -€12,585 | -26.0% |
| Other amounts receivable | 41 | €1,722 | €7,673 | +€5,951 | +346% |
| Cash at bank and in hand | 54/58 | €716 | €1,519 | +€803 | +112% |
| Deferred charges and accrued income | 490/1 | €473 | €829 | +€356 | +75.2% |
| Total equity and liabilities | 10/49 | €51,300 | €62,610 | +€11,310 | +22.0% |
| Equity | 10/15 | €11,502 | €13,147 | +€1,645 | +14.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,502 | €3,147 | +€1,645 | +110% |
| Distributable reserves | 133 | €1,502 | €3,147 | +€1,645 | +110% |
| Amounts payable | 17/49 | €39,798 | €49,463 | +€9,665 | +24.3% |
| Amounts payable within one year | 42/48 | €39,798 | €49,463 | +€9,665 | +24.3% |
| Trade debts | 44 | €37,773 | €42,050 | +€4,277 | +11.3% |
| Suppliers | 440/4 | €37,773 | €42,050 | +€4,277 | +11.3% |
| Advances received on contracts in progress | 46 | €571 | €80 | -€491 | -86.0% |
| Taxes, remuneration and social security | 45 | €1,454 | €5,831 | +€4,377 | +301% |
| Taxes | 450/3 | €1,454 | €1,369 | -€85 | -5.9% |
| Remuneration and social security | 454/9 | - | €4,462 | +€4,462 | |
| Other amounts payable | 47/48 | - | €1,502 | +€1,502 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €65 | +€65 | |
| Other operating charges | 640/8 | €1,589 | €8,873 | +€7,284 | +458% |
| Gross operating margin | 9900 | €4,359 | €5,610 | +€1,250 | +28.7% |
| Operating profit (loss) | 9901 | €2,770 | -€3,328 | -€6,099 | |
| Financial income | 75/76B | €5 | €7,357 | +€7,352 | +146,460% |
| Recurring financial income | 75 | €5 | €7,357 | +€7,352 | +146,460% |
| Financial charges | 65/66B | €825 | €1,881 | +€1,056 | +128% |
| Recurring financial charges | 65 | €825 | €1,881 | +€1,056 | +128% |
| Profit (loss) for the period before taxes | 9903 | €1,950 | €2,148 | +€198 | +10.2% |
| Income taxes | 67/77 | €448 | €503 | +€54 | +12.2% |
| Profit (loss) for the period | 9904 | €1,502 | €1,645 | +€144 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,502 | €1,645 | +€144 | +9.6% |
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 17 October 2026 via checked.be.