SEBELKO: 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.
What changed
SEBELKO
NACE 59.202, Motion picture, video and television programme production, sound recording and music publishing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€10,747
2024 · -€37,697+€26,950
Equity
€401,658
2024 · €412,405-€10,747
Cash
€190,789
2024 · €106,953+€83,836
Balance sheet total
€1.2m
2024 · €1.2m-€21,696
Largest movements
Assets
- Tangible fixed assets -€94,669
down €94,669 (-8.4%), from €1.1m to €1.0m
- Cash +€83,836
up €83,836 (+78.4%), from €106,953 to €190,789
mainly Depreciation (+€103,445) and Receivables within one year (+€12,119)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€27,193
up €27,193 (+38.1%), from €71,286 to €98,479
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.
Result 2024
-€37,697
Gross operating margin
+€27,193
Depreciation
-€273
Other operating charges
-€35
Financial income
+€60
Financial charges
+€4
Result 2025
-€10,747
raises the resultlowers the result
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.
From operations
+€92,186
Investment
-€8,350
Financing
€0
Cash 2024
€106,953
From operations (derived)
+€92,186
Net result for the year
-€10,747
Depreciation
+€103,445
Stocks and contracts
-€331
Receivables within one year
+€12,119
Deferred charges and accrued income
-€1,352
Trade debts
+€809
Tax, wage and social debts
+€3,615
Other debts
-€11,762
Accrued charges and deferred income
-€3,610
Investment (derived)
-€8,350
Investment in fixed assets (net)
-€8,350
Cash 2025
€190,789
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,249,435 | €1,227,739 | -€21,696 | -1.7% |
| Fixed assets | 21/28 | €1,123,259 | €1,028,164 | -€95,095 | -8.5% |
| Intangible fixed assets | 21 | €1,645 | €1,219 | -€426 | -25.9% |
| Tangible fixed assets | 22/27 | €1,121,615 | €1,026,945 | -€94,669 | -8.4% |
| Land and buildings | 22 | €400,545 | €381,660 | -€18,885 | -4.7% |
| Plant, machinery and equipment | 23 | €147,067 | €111,587 | -€35,480 | -24.1% |
| Furniture and vehicles | 24 | €809 | €1,685 | +€876 | +108% |
| Other tangible fixed assets | 26 | €573,193 | €532,014 | -€41,180 | -7.2% |
| Current assets | 29/58 | €126,175 | €199,575 | +€73,399 | +58.2% |
| Stocks and contracts in progress | 3 | €2,717 | €3,047 | +€331 | +12.2% |
| Stocks | 30/36 | €2,717 | €3,047 | +€331 | +12.2% |
| Amounts receivable within one year | 40/41 | €14,807 | €2,688 | -€12,119 | -81.8% |
| Trade receivables | 40 | €6,806 | €2,688 | -€4,118 | -60.5% |
| Other amounts receivable | 41 | €8,002 | €0 | -€8,002 | -100% |
| Cash at bank and in hand | 54/58 | €106,953 | €190,789 | +€83,836 | +78.4% |
| Deferred charges and accrued income | 490/1 | €1,698 | €3,050 | +€1,352 | +79.6% |
| Total equity and liabilities | 10/49 | €1,249,435 | €1,227,739 | -€21,696 | -1.7% |
| Equity | 10/15 | €412,405 | €401,658 | -€10,747 | -2.6% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €11,155 | €11,155 | = | 0.0% |
| Distributable reserves | 133 | €11,155 | €11,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€398,750 | -€409,498 | -€10,747 | -2.7% |
| Amounts payable | 17/49 | €837,030 | €826,081 | -€10,948 | -1.3% |
| Amounts payable after more than one year | 17 | €603,000 | €603,000 | = | 0.0% |
| Other amounts payable | 178/9 | €603,000 | €603,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €230,420 | €223,081 | -€7,339 | -3.2% |
| Trade debts | 44 | €5,820 | €6,629 | +€809 | +13.9% |
| Suppliers | 440/4 | €5,820 | €6,629 | +€809 | +13.9% |
| Taxes, remuneration and social security | 45 | - | €3,615 | +€3,615 | |
| Taxes | 450/3 | - | €3,615 | +€3,615 | |
| Other amounts payable | 47/48 | €224,600 | €212,838 | -€11,762 | -5.2% |
| Accrued charges and deferred income | 492/3 | €3,610 | €0 | -€3,610 | -100% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,172 | €103,445 | +€273 | +0.3% |
| Other operating charges | 640/8 | €5,743 | €5,777 | +€35 | +0.6% |
| Gross operating margin | 9900 | €71,286 | €98,479 | +€27,193 | +38.1% |
| Operating profit (loss) | 9901 | -€37,629 | -€10,743 | +€26,886 | +71.5% |
| Financial income | 75/76B | €1 | €61 | +€60 | +6,525% |
| Recurring financial income | 75 | €1 | €61 | +€60 | +6,525% |
| Financial charges | 65/66B | €69 | €65 | -€4 | -5.3% |
| Recurring financial charges | 65 | €69 | €65 | -€4 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,697 | -€10,747 | +€26,950 | +71.5% |
| Income taxes | 67/77 | €0 | €0 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€37,697 | -€10,747 | +€26,950 | +71.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,697 | -€10,747 | +€26,950 | +71.5% |
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 16 October 2026 via checked.be.