SEB Construct: 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.
SEB Construct
Largest movements
- Receivables within one year -€208,818
down €208,818 (-77.2%), from €270,470 to €61,652
of which Trade receivables: -€166,737
- Receivables after one year +€70,000
new in 2024: €70,000
- Tangible fixed assets -€14,632
down €14,632 (-51.1%), from €28,642 to €14,009
of which Plant, machinery and equipment: -€8,967
- Profit (loss) carried forward -€91,824
down €91,824 (-50.8%), from €180,835 to €89,010
- Trade debts -€36,556
down €36,556 (-85.3%), from €42,841 to €6,285
- Tax, wage and social debts -€16,636
down €16,636 (-28.4%), from €58,592 to €41,956
of which Taxes: -€19,920
- Current portion of long-term debt -€9,134
no longer reported in 2024 (was €9,134)
- Gross operating margin -€40,357
down €40,357 (-41.6%), from €96,979 to €56,622
- Staff costs -€18,602
down €18,602 (-45.4%), from €40,986 to €22,384
- Depreciation +€9,578
new in 2024: €9,578
- Taxes -€9,287
down €9,287 (-61.4%), from €15,131 to €5,844
- Other operating charges +€3,719
up €3,719 (+234%), from €1,588 to €5,307
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,465 | €146,781 | -€152,683 | -51.0% |
| Fixed assets | 21/28 | €28,802 | €14,169 | -€14,632 | -50.8% |
| Tangible fixed assets | 22/27 | €28,642 | €14,009 | -€14,632 | -51.1% |
| Plant, machinery and equipment | 23 | €17,403 | €8,437 | -€8,967 | -51.5% |
| Furniture and vehicles | 24 | €11,238 | €5,573 | -€5,666 | -50.4% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €270,663 | €132,612 | -€138,051 | -51.0% |
| Amounts receivable after more than one year | 29 | - | €70,000 | +€70,000 | |
| Other amounts receivable | 291 | - | €70,000 | +€70,000 | |
| Amounts receivable within one year | 40/41 | €270,470 | €61,652 | -€208,818 | -77.2% |
| Trade receivables | 40 | €222,684 | €55,947 | -€166,737 | -74.9% |
| Other amounts receivable | 41 | €47,785 | €5,704 | -€42,081 | -88.1% |
| Cash at bank and in hand | 54/58 | - | €960 | +€960 | |
| Deferred charges and accrued income | 490/1 | €193 | - | -€193 | |
| Total equity and liabilities | 10/49 | €299,465 | €146,781 | -€152,683 | -51.0% |
| Equity | 10/15 | €188,895 | €97,070 | -€91,824 | -48.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,835 | €89,010 | -€91,824 | -50.8% |
| Amounts payable | 17/49 | €110,570 | €49,711 | -€60,859 | -55.0% |
| Amounts payable within one year | 42/48 | €110,570 | €49,711 | -€60,859 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | €9,134 | - | -€9,134 | |
| Financial debts | 43 | €3 | €1,470 | +€1,467 | +42,516% |
| Credit institutions | 430/8 | €3 | €1,470 | +€1,467 | +42,516% |
| Trade debts | 44 | €42,841 | €6,285 | -€36,556 | -85.3% |
| Suppliers | 440/4 | €42,841 | €6,285 | -€36,556 | -85.3% |
| Taxes, remuneration and social security | 45 | €58,592 | €41,956 | -€16,636 | -28.4% |
| Taxes | 450/3 | €57,797 | €37,877 | -€19,920 | -34.5% |
| Remuneration and social security | 454/9 | €795 | €4,079 | +€3,285 | +413% |
| Remuneration, social security and pensions | 62 | €40,986 | €22,384 | -€18,602 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,578 | +€9,578 | |
| Other operating charges | 640/8 | €1,588 | €5,307 | +€3,719 | +234% |
| Non-recurring operating charges | 66A | - | €5,054 | +€5,054 | |
| Gross operating margin | 9900 | €96,979 | €56,622 | -€40,357 | -41.6% |
| Operating profit (loss) | 9901 | €54,405 | €14,299 | -€40,106 | -73.7% |
| Financial income | 75/76B | - | €26 | +€26 | |
| Recurring financial income | 75 | - | €26 | +€26 | |
| Financial charges | 65/66B | €683 | €305 | -€378 | -55.3% |
| Recurring financial charges | 65 | €683 | €305 | -€378 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €53,723 | €14,020 | -€39,703 | -73.9% |
| Income taxes | 67/77 | €15,131 | €5,844 | -€9,287 | -61.4% |
| Profit (loss) for the period | 9904 | €38,591 | €8,176 | -€30,416 | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,591 | €8,176 | -€30,416 | -78.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.