SEBECO: what changed
Two fiscal 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.
SEBECO
Largest movements
- Intangible fixed assets +€295,920
up €295,920 (+43.1%), from €685,832 to €981,752
- Receivables within one year +€284,738
up €284,738 (+26.2%), from €1.1m to €1.4m
of which Trade receivables: +€279,667
- Current investments -€200,004
no longer reported in 2025 (was €200,004)
- Cash -€161,899
down €161,899 (-80.6%), from €200,854 to €38,955
- Trade debts +€336,832
up €336,832 (+85.5%), from €394,084 to €730,916
- Reserves -€215,054
down €215,054 (-21.9%), from €980,027 to €764,973
of which Non-distributable reserves: -€200,004
- Short-term financial debts +€50,000
new in 2025: €50,000
- Tax, wage and social debts +€31,501
up €31,501 (+39.6%), from €79,525 to €111,027
of which Taxes: +€16,493
- Current portion of long-term debt -€25,687
down €25,687 (-42.2%), from €60,932 to €35,245
- Gross operating margin +€375,344
up €375,344 (+57.6%), from €652,186 to €1.0m
- Staff costs +€173,132
up €173,132 (+34.9%), from €496,242 to €669,374
- Financial charges +€62,681
up €62,681 (+769.4%), from €8,147 to €70,827
of which Financial charges: +€52,181
- Financial income +€54,038
up €54,038 (+466.5%), from €11,585 to €65,623
of which Non-recurring financial income: +€53,177
- Write-downs +€47,565
no longer reported in 2025 (was -€47,565)
From the 2023 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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,233,134 | €2,406,101 | +€172,967 | +7.7% |
| Fixed assets | 21/28 | €713,267 | €986,045 | +€272,778 | +38.2% |
| Intangible fixed assets | 21 | €685,832 | €981,752 | +€295,920 | +43.1% |
| Tangible fixed assets | 22/27 | €27,434 | €4,293 | -€23,142 | -84.4% |
| Plant, machinery and equipment | 23 | €19,054 | €3,397 | -€15,657 | -82.2% |
| Furniture and vehicles | 24 | €8,380 | €896 | -€7,484 | -89.3% |
| Current assets | 29/58 | €1,519,867 | €1,420,056 | -€99,812 | -6.6% |
| Amounts receivable within one year | 40/41 | €1,088,770 | €1,373,508 | +€284,738 | +26.2% |
| Trade receivables | 40 | €915,956 | €1,195,623 | +€279,667 | +30.5% |
| Other amounts receivable | 41 | €172,814 | €177,884 | +€5,070 | +2.9% |
| Current investments | 50/53 | €200,004 | - | -€200,004 | |
| Cash at bank and in hand | 54/58 | €200,854 | €38,955 | -€161,899 | -80.6% |
| Deferred charges and accrued income | 490/1 | €30,240 | €7,593 | -€22,646 | -74.9% |
| Total equity and liabilities | 10/49 | €2,233,134 | €2,406,101 | +€172,967 | +7.7% |
| Equity | 10/15 | €1,357,827 | €1,142,773 | -€215,054 | -15.8% |
| Contributions | 10/11 | €377,800 | €377,800 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Outside capital | 11 | €2,800 | €2,800 | = | 0.0% |
| Share premium | 1100/10 | €2,800 | €2,800 | = | 0.0% |
| Reserves | 13 | €980,027 | €764,973 | -€215,054 | -21.9% |
| Non-distributable reserves | 130/1 | €205,056 | €5,052 | -€200,004 | -97.5% |
| Legal reserve | 130 | €5,052 | €5,052 | = | 0.0% |
| Own shares acquired | 1312 | €200,004 | - | -€200,004 | |
| Distributable reserves | 133 | €774,971 | €759,921 | -€15,050 | -1.9% |
| Amounts payable | 17/49 | €875,307 | €1,263,328 | +€388,021 | +44.3% |
| Amounts payable after more than one year | 17 | €309,886 | €317,238 | +€7,352 | +2.4% |
| Financial debts | 170/4 | €309,886 | €317,238 | +€7,352 | +2.4% |
| Amounts payable within one year | 42/48 | €564,538 | €933,138 | +€368,600 | +65.3% |
| Current portion of amounts payable after more than one year | 42 | €60,932 | €35,245 | -€25,687 | -42.2% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €394,084 | €730,916 | +€336,832 | +85.5% |
| Suppliers | 440/4 | €394,084 | €730,916 | +€336,832 | +85.5% |
| Taxes, remuneration and social security | 45 | €79,525 | €111,027 | +€31,501 | +39.6% |
| Taxes | 450/3 | €18,053 | €34,545 | +€16,493 | +91.4% |
| Remuneration and social security | 454/9 | €61,473 | €76,482 | +€15,009 | +24.4% |
| Other amounts payable | 47/48 | €29,996 | €5,950 | -€24,046 | -80.2% |
| Accrued charges and deferred income | 492/3 | €883 | €12,951 | +€12,068 | +1366.4% |
| Remuneration, social security and pensions | 62 | €496,242 | €669,374 | +€173,132 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,559 | €328,428 | +€44,869 | +15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€47,565 | - | +€47,565 | |
| Other operating charges | 640/8 | €8,297 | €39,064 | +€30,767 | +370.8% |
| Gross operating margin | 9900 | €652,186 | €1,027,530 | +€375,344 | +57.6% |
| Operating profit (loss) | 9901 | -€88,347 | -€9,336 | +€79,011 | +89.4% |
| Financial income | 75/76B | €11,585 | €65,623 | +€54,038 | +466.5% |
| Recurring financial income | 75 | €543 | €1,404 | +€861 | +158.8% |
| Non-recurring financial income | 76B | €11,042 | €64,219 | +€53,177 | +481.6% |
| Financial charges | 65/66B | €8,147 | €70,827 | +€62,681 | +769.4% |
| Recurring financial charges | 65 | €8,147 | €60,327 | +€52,181 | +640.5% |
| Non-recurring financial charges | 66B | - | €10,500 | +€10,500 | |
| Profit (loss) for the period before taxes | 9903 | -€84,909 | -€14,541 | +€70,368 | +82.9% |
| Income taxes | 67/77 | €18,907 | €510 | -€18,397 | -97.3% |
| Profit (loss) for the period | 9904 | -€103,815 | -€15,050 | +€88,765 | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,815 | -€15,050 | +€88,765 | +85.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.