SEBEK: 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.
SEBEK
Largest movements
- Cash -€7,907
down €7,907 (-28.2%), from €27,999 to €20,092
mainly Investment in fixed assets (net) (-€20,565) and Net result for the year (-€8,736)
- Profit (loss) carried forward -€8,736
down €8,736 (-9.3%), from -€93,709 to -€102,445
- Gross operating margin +€6,243
up €6,243 (+97.3%), from €6,415 to €12,658
- Depreciation -€3,442
down €3,442 (-13.8%), from €24,851 to €21,410
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 | €494,356 | €485,620 | -€8,736 | -1.8% |
| Fixed assets | 21/28 | €462,593 | €461,747 | -€845 | -0.2% |
| Tangible fixed assets | 22/27 | €462,593 | €461,747 | -€845 | -0.2% |
| Land and buildings | 22 | €458,426 | €458,321 | -€105 | 0.0% |
| Plant, machinery and equipment | 23 | €2,053 | €1,947 | -€106 | -5.2% |
| Furniture and vehicles | 24 | €2,113 | €1,479 | -€634 | -30.0% |
| Current assets | 29/58 | €31,764 | €23,873 | -€7,891 | -24.8% |
| Current investments | 50/53 | €3,765 | €3,781 | +€16 | +0.4% |
| Cash at bank and in hand | 54/58 | €27,999 | €20,092 | -€7,907 | -28.2% |
| Total equity and liabilities | 10/49 | €494,356 | €485,620 | -€8,736 | -1.8% |
| Equity | 10/15 | €234,140 | €225,404 | -€8,736 | -3.7% |
| Contributions | 10/11 | €148,750 | €148,750 | = | 0.0% |
| Capital | 10 | €148,750 | €148,750 | = | 0.0% |
| Issued capital | 100 | €148,750 | €148,750 | = | 0.0% |
| Revaluation surpluses | 12 | €169,971 | €169,971 | = | 0.0% |
| Reserves | 13 | €9,128 | €9,128 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €7,269 | €7,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,709 | -€102,445 | -€8,736 | -9.3% |
| Amounts payable | 17/49 | €260,216 | €260,216 | = | 0.0% |
| Amounts payable within one year | 42/48 | €260,216 | €260,216 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,083 | €1,065 | -€18 | -1.6% |
| Taxes | 450/3 | €1,083 | €1,065 | -€18 | -1.6% |
| Other amounts payable | 47/48 | €259,133 | €259,151 | +€18 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,851 | €21,410 | -€3,442 | -13.8% |
| Gross operating margin | 9900 | €6,415 | €12,658 | +€6,243 | +97.3% |
| Operating profit (loss) | 9901 | -€18,437 | -€8,752 | +€9,685 | +52.5% |
| Financial income | 75/76B | €16 | €23 | +€7 | +43.6% |
| Recurring financial income | 75 | €16 | €23 | +€7 | +43.6% |
| Profit (loss) for the period before taxes | 9903 | -€18,421 | -€8,729 | +€9,692 | +52.6% |
| Income taxes | 67/77 | - | €7 | +€7 | |
| Profit (loss) for the period | 9904 | -€18,421 | -€8,736 | +€9,685 | +52.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,421 | -€8,736 | +€9,685 | +52.6% |
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 15 October 2026 via checked.be.