SEBO EXCLUSIEF: 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.
SEBO EXCLUSIEF
Largest movements
- Tangible fixed assets -€40,066
down €40,066 (-10.5%), from €383,123 to €343,056
of which Land and buildings: -€22,249
- Receivables within one year +€32,556
up €32,556 (+71.2%), from €45,727 to €78,283
of which Trade receivables: +€34,015
- Stocks and contracts -€17,917
down €17,917 (-14.6%), from €123,124 to €105,206
of which Stocks: -€19,839
- Cash -€10,203
down €10,203 (-85.4%), from €11,951 to €1,748
mainly Debts after one year (-€35,765) and Receivables within one year (-€32,556)
- Other debts +€61,979
up €61,979 (+26.1%), from €237,323 to €299,302
- Debts after one year -€35,765
down €35,765 (-20.2%), from €177,132 to €141,368
- Tax, wage and social debts -€30,859
down €30,859 (-56.5%), from €54,643 to €23,784
of which Taxes: -€46,359
- Trade debts -€27,034
down €27,034 (-78.9%), from €34,274 to €7,241
- Short-term financial debts -€17,691
down €17,691 (-46.8%), from €37,840 to €20,149
- Gross operating margin +€66,977
up €66,977 (+8,701%), from €770 to €67,747
- Depreciation -€2,854
down €2,854 (-6.6%), from €42,920 to €40,066
- Taxes +€1,145
up €1,145 (+239%), from €478 to €1,623
- Financial charges -€921
down €921 (-9.2%), from €10,020 to €9,099
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 | €569,620 | €532,499 | -€37,121 | -6.5% |
| Fixed assets | 21/28 | €383,123 | €343,056 | -€40,066 | -10.5% |
| Tangible fixed assets | 22/27 | €383,123 | €343,056 | -€40,066 | -10.5% |
| Land and buildings | 22 | €303,890 | €281,641 | -€22,249 | -7.3% |
| Plant, machinery and equipment | 23 | €2,039 | - | -€2,039 | |
| Furniture and vehicles | 24 | €3,106 | - | -€3,106 | |
| Leasing and similar rights | 25 | €74,088 | €61,416 | -€12,672 | -17.1% |
| Current assets | 29/58 | €186,497 | €189,443 | +€2,946 | +1.6% |
| Stocks and contracts in progress | 3 | €123,124 | €105,206 | -€17,917 | -14.6% |
| Stocks | 30/36 | €113,690 | €93,851 | -€19,839 | -17.5% |
| Contracts in progress | 37 | €9,434 | €11,356 | +€1,922 | +20.4% |
| Amounts receivable within one year | 40/41 | €45,727 | €78,283 | +€32,556 | +71.2% |
| Trade receivables | 40 | €43,628 | €77,642 | +€34,015 | +78.0% |
| Other amounts receivable | 41 | €2,100 | €641 | -€1,459 | -69.5% |
| Cash at bank and in hand | 54/58 | €11,951 | €1,748 | -€10,203 | -85.4% |
| Deferred charges and accrued income | 490/1 | €5,696 | €4,206 | -€1,490 | -26.2% |
| Total equity and liabilities | 10/49 | €569,620 | €532,499 | -€37,121 | -6.5% |
| Equity | 10/15 | -€6,746 | €4,892 | +€11,638 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €59,974 | €71,612 | +€11,638 | +19.4% |
| Distributable reserves | 133 | €59,974 | €71,612 | +€11,638 | +19.4% |
| Profit (loss) carried forward | 14 | -€85,720 | -€85,720 | = | 0.0% |
| Amounts payable | 17/49 | €576,366 | €527,607 | -€48,758 | -8.5% |
| Amounts payable after more than one year | 17 | €177,132 | €141,368 | -€35,765 | -20.2% |
| Financial debts | 170/4 | €177,132 | €141,368 | -€35,765 | -20.2% |
| Amounts payable within one year | 42/48 | €399,233 | €386,240 | -€12,994 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €35,153 | €35,765 | +€611 | +1.7% |
| Financial debts | 43 | €37,840 | €20,149 | -€17,691 | -46.8% |
| Credit institutions | 430/8 | €37,840 | €20,149 | -€17,691 | -46.8% |
| Trade debts | 44 | €34,274 | €7,241 | -€27,034 | -78.9% |
| Suppliers | 440/4 | €34,274 | €7,241 | -€27,034 | -78.9% |
| Taxes, remuneration and social security | 45 | €54,643 | €23,784 | -€30,859 | -56.5% |
| Taxes | 450/3 | €54,643 | €8,284 | -€46,359 | -84.8% |
| Remuneration and social security | 454/9 | - | €15,500 | +€15,500 | |
| Other amounts payable | 47/48 | €237,323 | €299,302 | +€61,979 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,920 | €40,066 | -€2,854 | -6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €651 | - | -€651 | |
| Other operating charges | 640/8 | €4,889 | €5,329 | +€439 | +9.0% |
| Gross operating margin | 9900 | €770 | €67,747 | +€66,977 | +8,701% |
| Operating profit (loss) | 9901 | -€47,691 | €22,352 | +€70,042 | |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €10,020 | €9,099 | -€921 | -9.2% |
| Recurring financial charges | 65 | €10,020 | €9,099 | -€921 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€57,711 | €13,261 | +€70,972 | |
| Income taxes | 67/77 | €478 | €1,623 | +€1,145 | +239% |
| Profit (loss) for the period | 9904 | -€58,190 | €11,638 | +€69,827 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,190 | €11,638 | +€69,827 |
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 28 October 2026 via checked.be.