SEBRO: 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.
SEBRO
Largest movements
- Tangible fixed assets -€110,061
down €110,061 (-4.6%), from €2.4m to €2.3m
of which Land and buildings: -€75,912
- Cash +€52,378
up €52,378 (+23.7%), from €221,214 to €273,592
mainly Contributions, distributions and other (+€300,000) and Depreciation (+€114,181)
- Contributions +€300,000
up €300,000 (+42.9%), from €700,000 to €1.0m
- Profit (loss) carried forward -€243,200
down €243,200 (-52.3%), from -€465,118 to -€708,318
- Other debts -€101,152
down €101,152 (-88.4%), from €114,406 to €13,254
- Debts after one year -€27,239
down €27,239 (-2.8%), from €964,389 to €937,150
of which Financial debts: -€261,793
- Gross operating margin +€36,930
up €36,930 (+41.7%), from €88,457 to €125,387
- Depreciation -€7,735
down €7,735 (-6.3%), from €121,916 to €114,181
- Financial income -€3,180
down €3,180 (-65.7%), from €4,839 to €1,659
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 | €2,666,261 | €2,598,006 | -€68,255 | -2.6% |
| Fixed assets | 21/28 | €2,409,831 | €2,299,770 | -€110,061 | -4.6% |
| Tangible fixed assets | 22/27 | €2,404,391 | €2,294,330 | -€110,061 | -4.6% |
| Land and buildings | 22 | €2,229,270 | €2,153,358 | -€75,912 | -3.4% |
| Plant, machinery and equipment | 23 | €26,640 | €24,566 | -€2,074 | -7.8% |
| Other tangible fixed assets | 26 | €148,481 | €116,406 | -€32,075 | -21.6% |
| Financial fixed assets | 28 | €5,440 | €5,440 | = | 0.0% |
| Current assets | 29/58 | €256,430 | €298,236 | +€41,806 | +16.3% |
| Amounts receivable within one year | 40/41 | €19,616 | €9,044 | -€10,572 | -53.9% |
| Trade receivables | 40 | €17,993 | €7,149 | -€10,844 | -60.3% |
| Other amounts receivable | 41 | €1,623 | €1,895 | +€272 | +16.8% |
| Current investments | 50/53 | €15,600 | €15,600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €221,214 | €273,592 | +€52,378 | +23.7% |
| Total equity and liabilities | 10/49 | €2,666,261 | €2,598,006 | -€68,255 | -2.6% |
| Equity | 10/15 | €1,528,443 | €1,585,243 | +€56,800 | +3.7% |
| Contributions | 10/11 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Capital | 10 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €300,000 | - | -€300,000 | |
| Revaluation surpluses | 12 | €1,292,075 | €1,292,075 | = | 0.0% |
| Reserves | 13 | €1,486 | €1,486 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,486 | €1,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€465,118 | -€708,318 | -€243,200 | -52.3% |
| Amounts payable | 17/49 | €1,137,818 | €1,012,763 | -€125,055 | -11.0% |
| Amounts payable after more than one year | 17 | €964,389 | €937,150 | -€27,239 | -2.8% |
| Financial debts | 170/4 | €854,947 | €593,154 | -€261,793 | -30.6% |
| Other amounts payable | 178/9 | €109,442 | €343,996 | +€234,554 | +214.3% |
| Amounts payable within one year | 42/48 | €173,429 | €75,613 | -€97,816 | -56.4% |
| Financial debts | 43 | €51,333 | €51,333 | = | 0.0% |
| Credit institutions | 430/8 | €51,333 | €51,333 | = | 0.0% |
| Trade debts | 44 | €4,807 | €10,439 | +€5,632 | +117.2% |
| Suppliers | 440/4 | €4,807 | €10,439 | +€5,632 | +117.2% |
| Taxes, remuneration and social security | 45 | €2,883 | €587 | -€2,296 | -79.6% |
| Taxes | 450/3 | €2,883 | €587 | -€2,296 | -79.6% |
| Other amounts payable | 47/48 | €114,406 | €13,254 | -€101,152 | -88.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,916 | €114,181 | -€7,735 | -6.3% |
| Other operating charges | 640/8 | €15,812 | €17,064 | +€1,252 | +7.9% |
| Non-recurring operating charges | 66A | €88,502 | €230,504 | +€142,002 | +160.5% |
| Gross operating margin | 9900 | €88,457 | €125,387 | +€36,930 | +41.7% |
| Operating profit (loss) | 9901 | -€137,773 | -€236,362 | -€98,589 | -71.6% |
| Financial income | 75/76B | €4,839 | €1,659 | -€3,180 | -65.7% |
| Recurring financial income | 75 | €4,839 | €1,659 | -€3,180 | -65.7% |
| Financial charges | 65/66B | €9,343 | €8,497 | -€846 | -9.1% |
| Recurring financial charges | 65 | €9,343 | €8,497 | -€846 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€142,277 | -€243,200 | -€100,923 | -70.9% |
| Profit (loss) for the period | 9904 | -€142,277 | -€243,200 | -€100,923 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€142,277 | -€243,200 | -€100,923 | -70.9% |
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.