SEBETEC: 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.
SEBETEC
Largest movements
- Receivables within one year -€78,807
down €78,807 (-47.0%), from €167,650 to €88,843
of which Trade receivables: -€68,405
- Cash -€20,439
no longer reported in 2025 (was €20,439)
mainly Trade debts (-€154,914) and Debts after one year (-€6,067)
- Tangible fixed assets -€17,644
down €17,644 (-24.9%), from €70,767 to €53,123
of which Furniture and vehicles: -€10,128
- Stocks and contracts -€9,490
down €9,490 (-64.9%), from €14,613 to €5,123
- Intangible fixed assets -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Trade debts -€154,914
down €154,914 (-74.3%), from €208,608 to €53,694
- Profit (loss) carried forward +€16,808
up €16,808 (+3,171%), from €530 to €17,338
- Short-term financial debts +€9,896
new in 2025: €9,896
- Debts after one year -€6,067
down €6,067 (-14.3%), from €42,479 to €36,412
- Purchases and services -€319,411
down €319,411 (-79.0%), from €404,471 to €85,060
- Turnover -€258,303
down €258,303 (-58.1%), from €444,331 to €186,028
- Gross operating margin +€61,108
up €61,108 (+153%), from €39,860 to €100,968
- Staff costs +€34,243
up €34,243 (+215%), from €15,941 to €50,184
- Depreciation +€4,753
up €4,753 (+26.6%), from €17,891 to €22,644
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 | €283,569 | €152,189 | -€131,380 | -46.3% |
| Fixed assets | 21/28 | €80,867 | €58,223 | -€22,644 | -28.0% |
| Intangible fixed assets | 21 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Tangible fixed assets | 22/27 | €70,767 | €53,123 | -€17,644 | -24.9% |
| Land and buildings | 22 | €41,467 | €35,600 | -€5,867 | -14.1% |
| Plant, machinery and equipment | 23 | €5,334 | €3,685 | -€1,649 | -30.9% |
| Furniture and vehicles | 24 | €23,966 | €13,838 | -€10,128 | -42.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €202,702 | €93,966 | -€108,736 | -53.6% |
| Stocks and contracts in progress | 3 | €14,613 | €5,123 | -€9,490 | -64.9% |
| Stocks | 30/36 | €14,613 | €5,123 | -€9,490 | -64.9% |
| Amounts receivable within one year | 40/41 | €167,650 | €88,843 | -€78,807 | -47.0% |
| Trade receivables | 40 | €80,909 | €12,504 | -€68,405 | -84.5% |
| Other amounts receivable | 41 | €86,741 | €76,339 | -€10,402 | -12.0% |
| Cash at bank and in hand | 54/58 | €20,439 | - | -€20,439 | |
| Total equity and liabilities | 10/49 | €283,569 | €152,189 | -€131,380 | -46.3% |
| Equity | 10/15 | €19,327 | €36,135 | +€16,808 | +87.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197 | €197 | = | 0.0% |
| Distributable reserves | 133 | €197 | €197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €530 | €17,338 | +€16,808 | +3,171% |
| Amounts payable | 17/49 | €264,242 | €116,054 | -€148,188 | -56.1% |
| Amounts payable after more than one year | 17 | €42,479 | €36,412 | -€6,067 | -14.3% |
| Financial debts | 170/4 | €42,479 | €36,412 | -€6,067 | -14.3% |
| Amounts payable within one year | 42/48 | €221,763 | €79,642 | -€142,121 | -64.1% |
| Current portion of amounts payable after more than one year | 42 | €5,907 | €6,067 | +€160 | +2.7% |
| Financial debts | 43 | - | €9,896 | +€9,896 | |
| Credit institutions | 430/8 | - | €9,896 | +€9,896 | |
| Trade debts | 44 | €208,608 | €53,694 | -€154,914 | -74.3% |
| Suppliers | 440/4 | €208,608 | €53,694 | -€154,914 | -74.3% |
| Taxes, remuneration and social security | 45 | €7,248 | €9,985 | +€2,737 | +37.8% |
| Taxes | 450/3 | €1,345 | €9,985 | +€8,640 | +642% |
| Remuneration and social security | 454/9 | €5,903 | - | -€5,903 | |
| Turnover | 70 | €444,331 | €186,028 | -€258,303 | -58.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €404,471 | €85,060 | -€319,411 | -79.0% |
| Remuneration, social security and pensions | 62 | €15,941 | €50,184 | +€34,243 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,891 | €22,644 | +€4,753 | +26.6% |
| Other operating charges | 640/8 | €2,708 | €1,754 | -€954 | -35.2% |
| Gross operating margin | 9900 | €39,860 | €100,968 | +€61,108 | +153% |
| Operating profit (loss) | 9901 | €3,320 | €26,386 | +€23,066 | +695% |
| Financial charges | 65/66B | €2,793 | €5,025 | +€2,232 | +79.9% |
| Recurring financial charges | 65 | €2,793 | €5,025 | +€2,232 | +79.9% |
| Profit (loss) for the period before taxes | 9903 | €527 | €21,361 | +€20,834 | +3,953% |
| Income taxes | 67/77 | - | €4,553 | +€4,553 | |
| Profit (loss) for the period | 9904 | €527 | €16,808 | +€16,281 | +3,089% |
| Profit (loss) for the period to be appropriated | 9905 | €527 | €16,808 | +€16,281 | +3,089% |
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 31 October 2026 via checked.be.