SebInvest: 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.
SebInvest
Largest movements
- Receivables within one year -€133,184
down €133,184 (-92.8%), from €143,581 to €10,397
of which Trade receivables: -€103,776
- Stocks and contracts +€122,531
up €122,531 (+7.9%), from €1.6m to €1.7m
- Trade debts +€347,380
up €347,380 (+362%), from €96,025 to €443,405
- Other debts -€181,325
down €181,325 (-28.7%), from €631,075 to €449,750
- Current portion of long-term debt -€141,214
down €141,214 (-83.3%), from €169,488 to €28,274
- Short-term financial debts -€112,745
down €112,745 (-15.8%), from €712,745 to €600,000
- Debts after one year +€96,726
up €96,726 (+2,955%), from €3,274 to €100,000
- Financial charges -€104,135
down €104,135 (-68.7%), from €151,527 to €47,392
- Taxes +€27,109
up €27,109 (+29,902%), from €91 to €27,200
- Other operating charges +€5,359
up €5,359 (+415%), from €1,291 to €6,650
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 | €1,854,657 | €1,848,537 | -€6,120 | -0.3% |
| Fixed assets | 21/28 | €14,362 | €5,772 | -€8,590 | -59.8% |
| Tangible fixed assets | 22/27 | €14,337 | €5,747 | -€8,590 | -59.9% |
| Plant, machinery and equipment | 23 | €5,978 | €2,788 | -€3,190 | -53.4% |
| Leasing and similar rights | 25 | €8,359 | €2,959 | -€5,400 | -64.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,840,295 | €1,842,766 | +€2,470 | +0.1% |
| Amounts receivable after more than one year | 29 | €137,802 | €146,242 | +€8,440 | +6.1% |
| Other amounts receivable | 291 | €137,802 | €146,242 | +€8,440 | +6.1% |
| Stocks and contracts in progress | 3 | €1,557,908 | €1,680,439 | +€122,531 | +7.9% |
| Stocks | 30/36 | €1,557,908 | €1,680,439 | +€122,531 | +7.9% |
| Amounts receivable within one year | 40/41 | €143,581 | €10,397 | -€133,184 | -92.8% |
| Trade receivables | 40 | €114,088 | €10,313 | -€103,776 | -91.0% |
| Other amounts receivable | 41 | €29,493 | €85 | -€29,408 | -99.7% |
| Cash at bank and in hand | 54/58 | €1,004 | €5,263 | +€4,259 | +424% |
| Deferred charges and accrued income | 490/1 | - | €424 | +€424 | |
| Total equity and liabilities | 10/49 | €1,854,657 | €1,848,537 | -€6,120 | -0.3% |
| Equity | 10/15 | €73,273 | €145,736 | +€72,463 | +98.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €31,376 | €31,376 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,376 | €6,376 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,376 | €6,376 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,347 | €95,810 | +€72,463 | +310% |
| Amounts payable | 17/49 | €1,781,384 | €1,702,802 | -€78,582 | -4.4% |
| Amounts payable after more than one year | 17 | €3,274 | €100,000 | +€96,726 | +2,955% |
| Financial debts | 170/4 | €3,274 | €100,000 | +€96,726 | +2,955% |
| Amounts payable within one year | 42/48 | €1,778,111 | €1,602,802 | -€175,309 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €169,488 | €28,274 | -€141,214 | -83.3% |
| Financial debts | 43 | €712,745 | €600,000 | -€112,745 | -15.8% |
| Credit institutions | 430/8 | €712,745 | €600,000 | -€112,745 | -15.8% |
| Trade debts | 44 | €96,025 | €443,405 | +€347,380 | +362% |
| Suppliers | 440/4 | €96,025 | €443,405 | +€347,380 | +362% |
| Taxes, remuneration and social security | 45 | €168,778 | €81,373 | -€87,405 | -51.8% |
| Taxes | 450/3 | €168,778 | €81,373 | -€87,405 | -51.8% |
| Other amounts payable | 47/48 | €631,075 | €449,750 | -€181,325 | -28.7% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,590 | €8,590 | = | 0.0% |
| Other operating charges | 640/8 | €1,291 | €6,650 | +€5,359 | +415% |
| Gross operating margin | 9900 | €152,985 | €153,680 | +€695 | +0.5% |
| Operating profit (loss) | 9901 | €143,104 | €138,440 | -€4,664 | -3.3% |
| Financial income | 75/76B | €8,756 | €8,615 | -€142 | -1.6% |
| Recurring financial income | 75 | €8,756 | €8,615 | -€142 | -1.6% |
| Financial charges | 65/66B | €151,527 | €47,392 | -€104,135 | -68.7% |
| Recurring financial charges | 65 | €151,527 | €47,392 | -€104,135 | -68.7% |
| Profit (loss) for the period before taxes | 9903 | €333 | €99,662 | +€99,329 | +29,857% |
| Income taxes | 67/77 | €91 | €27,200 | +€27,109 | +29,902% |
| Profit (loss) for the period | 9904 | €242 | €72,463 | +€72,221 | +29,841% |
| Profit (loss) for the period to be appropriated | 9905 | €242 | €72,463 | +€72,221 | +29,841% |
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 18 October 2026 via checked.be.