SEBENIC: 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.
SEBENIC
Largest movements
- Tangible fixed assets +€239,834
up €239,834 (+57.5%), from €417,055 to €656,889
of which Furniture and vehicles: +€136,948
- Cash -€13,988
down €13,988 (-43.3%), from €32,294 to €18,306
mainly Investment in fixed assets (net) (-€288,524) and Receivables within one year (-€2,910)
- Contributions +€96,939
up €96,939 (+521.2%), from €18,600 to €115,539
- Reserves +€66,349
up €66,349 (+16.1%), from €411,360 to €477,709
- Debts after one year +€28,276
new in 2025: €28,276
- Profit (loss) carried forward +€18,525
new in 2025: €18,525
- Current portion of long-term debt +€16,366
new in 2025: €16,366
- Gross operating margin -€17,630
down €17,630 (-7.6%), from €230,697 to €213,067
- Depreciation +€12,106
up €12,106 (+33.1%), from €36,584 to €48,690
- Taxes -€7,081
down €7,081 (-12.9%), from €55,042 to €47,961
- Financial charges -€4,119
down €4,119 (-90.1%), from €4,572 to €453
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.
Cash bridge derived
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 | €463,019 | €691,776 | +€228,757 | +49.4% |
| Fixed assets | 21/28 | €417,055 | €656,889 | +€239,834 | +57.5% |
| Tangible fixed assets | 22/27 | €417,055 | €656,889 | +€239,834 | +57.5% |
| Land and buildings | 22 | €415,975 | €519,455 | +€103,480 | +24.9% |
| Plant, machinery and equipment | 23 | €1,080 | €486 | -€594 | -55.0% |
| Furniture and vehicles | 24 | - | €136,948 | +€136,948 | |
| Current assets | 29/58 | €45,965 | €34,887 | -€11,078 | -24.1% |
| Amounts receivable within one year | 40/41 | €13,671 | €16,581 | +€2,910 | +21.3% |
| Trade receivables | 40 | €13,281 | €13,290 | +€9 | +0.1% |
| Other amounts receivable | 41 | €390 | €3,291 | +€2,901 | +744.0% |
| Cash at bank and in hand | 54/58 | €32,294 | €18,306 | -€13,988 | -43.3% |
| Total equity and liabilities | 10/49 | €463,019 | €691,776 | +€228,757 | +49.4% |
| Equity | 10/15 | €429,960 | €611,773 | +€181,813 | +42.3% |
| Contributions | 10/11 | €18,600 | €115,539 | +€96,939 | +521.2% |
| Reserves | 13 | €411,360 | €477,709 | +€66,349 | +16.1% |
| Distributable reserves | 133 | €411,360 | €477,709 | +€66,349 | +16.1% |
| Profit (loss) carried forward | 14 | - | €18,525 | +€18,525 | |
| Amounts payable | 17/49 | €33,060 | €80,003 | +€46,943 | +142.0% |
| Amounts payable after more than one year | 17 | - | €28,276 | +€28,276 | |
| Financial debts | 170/4 | - | €28,276 | +€28,276 | |
| Amounts payable within one year | 42/48 | €30,577 | €51,727 | +€21,150 | +69.2% |
| Current portion of amounts payable after more than one year | 42 | - | €16,366 | +€16,366 | |
| Trade debts | 44 | €372 | €89 | -€283 | -76.1% |
| Suppliers | 440/4 | €372 | €89 | -€283 | -76.1% |
| Taxes, remuneration and social security | 45 | €30,205 | €35,272 | +€5,067 | +16.8% |
| Taxes | 450/3 | €30,205 | €35,272 | +€5,067 | +16.8% |
| Accrued charges and deferred income | 492/3 | €2,483 | - | -€2,483 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,584 | €48,690 | +€12,106 | +33.1% |
| Other operating charges | 640/8 | €4,048 | €3,974 | -€74 | -1.8% |
| Gross operating margin | 9900 | €230,697 | €213,067 | -€17,630 | -7.6% |
| Operating profit (loss) | 9901 | €190,064 | €160,403 | -€29,661 | -15.6% |
| Financial income | 75/76B | - | €424 | +€424 | |
| Recurring financial income | 75 | - | €424 | +€424 | |
| Financial charges | 65/66B | €4,572 | €453 | -€4,119 | -90.1% |
| Recurring financial charges | 65 | €4,572 | €453 | -€4,119 | -90.1% |
| Profit (loss) for the period before taxes | 9903 | €185,491 | €160,374 | -€25,117 | -13.5% |
| Income taxes | 67/77 | €55,042 | €47,961 | -€7,081 | -12.9% |
| Profit (loss) for the period | 9904 | €130,449 | €112,413 | -€18,036 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,449 | €112,413 | -€18,036 | -13.8% |
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 10 October 2026 via checked.be.