SEBIMMO: 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.
What changed
SEBIMMO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26,517
2024 · €5,549+€20,968
Equity
€1.2m
2024 · €1.1m+€26,517
Cash
€9,934
2024 · €7,939+€1,996
Balance sheet total
€2.8m
2024 · €2.6m+€164,218
Largest movements
Assets
- Tangible fixed assets +€83,845
up €83,845 (+3.2%), from €2.6m to €2.7m
- Receivables within one year +€78,000
new in 2025: €78,000
Equity and liabilities
- Other debts +€160,176
up €160,176 (+93.1%), from €172,089 to €332,265
- Trade debts -€34,314
down €34,314 (-38.8%), from €88,526 to €54,213
Income statement
- Gross operating margin +€48,336
up €48,336 (+39.6%), from €122,106 to €170,442
- Depreciation +€26,012
up €26,012 (+56.8%), from €45,766 to €71,778
- Other operating charges -€23,899
down €23,899 (-81.7%), from €29,248 to €5,349
- Taxes +€13,684
up €13,684 (+155%), from €8,813 to €22,497
- Financial charges +€11,814
up €11,814 (+32.4%), from €36,445 to €48,259
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.
Result 2024
€5,549
Gross operating margin
+€48,336
Depreciation
-€26,012
Other operating charges
+€23,899
Other operating items
-€2,084
Financial income
-€129
Financial charges
-€11,814
Taxes
-€13,684
Deferred taxes and other
+€2,456
Result 2025
€26,517
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€153,022
Investment
-€155,623
Financing
+€4,597
Cash 2024
€7,939
From operations (derived)
+€153,022
Net result for the year
+€26,517
Depreciation
+€71,778
Receivables within one year
-€78,000
Deferred charges and accrued income
-€377
Provisions
-€6,442
Trade debts
-€34,314
Tax, wage and social debts
+€13,684
Other debts
+€160,176
Investment (derived)
-€155,623
Investment in fixed assets (net)
-€155,623
Financing
+€4,597
Debts after one year
+€2,680
Current portion of long-term debt
+€1,916
Cash 2025
€9,934
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,600,302 | €2,764,520 | +€164,218 | +6.3% |
| Fixed assets | 21/28 | €2,585,294 | €2,669,139 | +€83,845 | +3.2% |
| Tangible fixed assets | 22/27 | €2,585,294 | €2,669,139 | +€83,845 | +3.2% |
| Land and buildings | 22 | €2,585,294 | €2,669,139 | +€83,845 | +3.2% |
| Current assets | 29/58 | €15,008 | €95,380 | +€80,373 | +536% |
| Amounts receivable within one year | 40/41 | - | €78,000 | +€78,000 | |
| Trade receivables | 40 | - | €78,000 | +€78,000 | |
| Cash at bank and in hand | 54/58 | €7,939 | €9,934 | +€1,996 | +25.1% |
| Deferred charges and accrued income | 490/1 | €7,069 | €7,446 | +€377 | +5.3% |
| Total equity and liabilities | 10/49 | €2,600,302 | €2,764,520 | +€164,218 | +6.3% |
| Equity | 10/15 | €1,145,588 | €1,172,105 | +€26,517 | +2.3% |
| Contributions | 10/11 | €875,723 | €875,723 | = | 0.0% |
| Capital | 10 | €859,514 | €859,514 | = | 0.0% |
| Issued capital | 100 | €859,514 | €859,514 | = | 0.0% |
| Contributions outside capital | 11 | €16,209 | €16,209 | = | 0.0% |
| Share premium | 1100/10 | €16,209 | €16,209 | = | 0.0% |
| Revaluation surpluses | 12 | €922,322 | €922,322 | = | 0.0% |
| Reserves | 13 | €453,515 | €480,032 | +€26,517 | +5.8% |
| Non-distributable reserves | 130/1 | €54,985 | €57,480 | +€2,495 | +4.5% |
| Legal reserve | 130 | €54,985 | €57,480 | +€2,495 | +4.5% |
| Tax-exempt reserves | 132 | €241,964 | €222,890 | -€19,074 | -7.9% |
| Distributable reserves | 133 | €156,566 | €199,662 | +€43,096 | +27.5% |
| Profit (loss) carried forward | 14 | -€1,105,973 | -€1,105,973 | = | 0.0% |
| Provisions and deferred taxes | 16 | €81,717 | €75,275 | -€6,442 | -7.9% |
| Deferred taxes | 168 | €81,717 | €75,275 | -€6,442 | -7.9% |
| Amounts payable | 17/49 | €1,372,997 | €1,517,140 | +€144,143 | +10.5% |
| Amounts payable after more than one year | 17 | €1,055,318 | €1,057,998 | +€2,680 | +0.3% |
| Financial debts | 170/4 | €410,960 | €413,640 | +€2,680 | +0.7% |
| Other amounts payable | 178/9 | €644,359 | €644,359 | = | 0.0% |
| Amounts payable within one year | 42/48 | €317,679 | €459,142 | +€141,462 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €38,619 | €40,535 | +€1,916 | +5.0% |
| Trade debts | 44 | €88,526 | €54,213 | -€34,314 | -38.8% |
| Suppliers | 440/4 | €88,526 | €54,213 | -€34,314 | -38.8% |
| Taxes, remuneration and social security | 45 | €18,445 | €32,129 | +€13,684 | +74.2% |
| Taxes | 450/3 | €18,445 | €32,129 | +€13,684 | +74.2% |
| Other amounts payable | 47/48 | €172,089 | €332,265 | +€160,176 | +93.1% |
| Non-recurring operating income | 76A | - | €11,632 | +€11,632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,766 | €71,778 | +€26,012 | +56.8% |
| Other operating charges | 640/8 | €29,248 | €5,349 | -€23,899 | -81.7% |
| Non-recurring operating charges | 66A | €400 | €2,484 | +€2,084 | +521% |
| Gross operating margin | 9900 | €122,106 | €170,442 | +€48,336 | +39.6% |
| Operating profit (loss) | 9901 | €46,692 | €90,831 | +€44,139 | +94.5% |
| Financial income | 75/76B | €129 | €0 | -€129 | -99.9% |
| Recurring financial income | 75 | €129 | €0 | -€129 | -99.9% |
| Financial charges | 65/66B | €36,445 | €48,259 | +€11,814 | +32.4% |
| Recurring financial charges | 65 | €36,445 | €48,259 | +€11,814 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €10,376 | €42,572 | +€32,196 | +310% |
| Transfer from deferred taxes | 780 | €3,986 | €6,442 | +€2,456 | +61.6% |
| Income taxes | 67/77 | €8,813 | €22,497 | +€13,684 | +155% |
| Profit (loss) for the period | 9904 | €5,549 | €26,517 | +€20,968 | +378% |
| Transfer from tax-exempt reserves | 789 | €11,706 | €19,074 | +€7,368 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,255 | €45,591 | +€28,336 | +164% |
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 14 October 2026 via checked.be.