Sebelma: 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.
Sebelma
Largest movements
- Cash +€29,194
up €29,194 (+83.5%), from €34,978 to €64,172
mainly Net result for the year (+€21,817) and Receivables within one year (+€2,905)
- Receivables within one year -€2,905
down €2,905 (-14.4%), from €20,181 to €17,276
of which Other amounts receivable: -€1,745
- Tangible fixed assets -€1,752
down €1,752 (-52.7%), from €3,326 to €1,574
of which Plant, machinery and equipment: -€1,710
- Reserves +€19,114
up €19,114 (+139%), from €13,784 to €32,898
- Profit (loss) carried forward +€4,374
up €4,374 (+13.9%), from €31,512 to €35,886
- Trade debts +€1,683
up €1,683 (+41.4%), from €4,068 to €5,751
- Turnover +€21,183
up €21,183 (+20.1%), from €105,482 to €126,665
- Write-downs -€15,095
no longer reported in 2025 (was €15,095)
- Gross operating margin +€15,066
up €15,066 (+16.0%), from €94,261 to €109,327
- Staff costs +€12,420
up €12,420 (+19.8%), from €62,570 to €74,990
- Taxes +€6,212
up €6,212 (+135%), from €4,585 to €10,797
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 | €58,485 | €83,022 | +€24,537 | +42.0% |
| Fixed assets | 21/28 | €3,326 | €1,574 | -€1,752 | -52.7% |
| Tangible fixed assets | 22/27 | €3,326 | €1,574 | -€1,752 | -52.7% |
| Plant, machinery and equipment | 23 | €3,259 | €1,549 | -€1,710 | -52.5% |
| Furniture and vehicles | 24 | €67 | €25 | -€42 | -62.7% |
| Current assets | 29/58 | €55,159 | €81,448 | +€26,289 | +47.7% |
| Amounts receivable within one year | 40/41 | €20,181 | €17,276 | -€2,905 | -14.4% |
| Trade receivables | 40 | €10,495 | €9,335 | -€1,160 | -11.1% |
| Other amounts receivable | 41 | €9,686 | €7,941 | -€1,745 | -18.0% |
| Cash at bank and in hand | 54/58 | €34,978 | €64,172 | +€29,194 | +83.5% |
| Total equity and liabilities | 10/49 | €58,485 | €83,022 | +€24,537 | +42.0% |
| Equity | 10/15 | €45,296 | €68,784 | +€23,488 | +51.9% |
| Reserves | 13 | €13,784 | €32,898 | +€19,114 | +139% |
| Distributable reserves | 133 | €13,784 | €32,898 | +€19,114 | +139% |
| Profit (loss) carried forward | 14 | €31,512 | €35,886 | +€4,374 | +13.9% |
| Amounts payable | 17/49 | €13,189 | €14,238 | +€1,049 | +8.0% |
| Amounts payable within one year | 42/48 | €13,189 | €14,238 | +€1,049 | +8.0% |
| Trade debts | 44 | €4,068 | €5,751 | +€1,683 | +41.4% |
| Suppliers | 440/4 | €4,068 | €5,751 | +€1,683 | +41.4% |
| Taxes, remuneration and social security | 45 | €9,121 | €8,487 | -€634 | -7.0% |
| Taxes | 450/3 | €1,066 | €229 | -€837 | -78.5% |
| Remuneration and social security | 454/9 | €8,055 | €8,258 | +€203 | +2.5% |
| Turnover | 70 | €105,482 | €126,665 | +€21,183 | +20.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €13,381 | €17,338 | +€3,957 | +29.6% |
| Remuneration, social security and pensions | 62 | €62,570 | €74,990 | +€12,420 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,075 | €1,752 | -€1,323 | -43.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,095 | - | -€15,095 | |
| Gross operating margin | 9900 | €94,261 | €109,327 | +€15,066 | +16.0% |
| Operating profit (loss) | 9901 | €13,521 | €32,585 | +€19,064 | +141% |
| Financial income | 75/76B | €77 | €213 | +€136 | +177% |
| Recurring financial income | 75 | €77 | €213 | +€136 | +177% |
| Financial charges | 65/66B | €600 | €184 | -€416 | -69.3% |
| Recurring financial charges | 65 | €600 | €184 | -€416 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €12,998 | €32,614 | +€19,616 | +151% |
| Income taxes | 67/77 | €4,585 | €10,797 | +€6,212 | +135% |
| Profit (loss) for the period | 9904 | €8,413 | €21,817 | +€13,404 | +159% |
| Profit (loss) for the period to be appropriated | 9905 | €8,413 | €21,817 | +€13,404 | +159% |
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 22 October 2026 via checked.be.