D-SELCI: 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.
D-SELCI
Largest movements
- Deferred charges and accrued income +€17,067
up €17,067 (+5,752%), from €297 to €17,363
- Tangible fixed assets -€11,914
down €11,914 (-24.3%), from €49,130 to €37,216
of which Furniture and vehicles: -€11,020
- Receivables within one year +€7,459
up €7,459 (+46.5%), from €16,044 to €23,503
of which Trade receivables: +€8,716
- Reserves +€11,674
up €11,674 (+32.7%), from €35,745 to €47,418
- Tax, wage and social debts +€6,945
up €6,945 (+222%), from €3,126 to €10,071
of which Taxes: +€8,397
- Debts after one year -€4,339
down €4,339 (-12.1%), from €35,799 to €31,461
- Other debts -€1,417
down €1,417 (-11.8%), from €11,971 to €10,554
- Gross operating margin +€14,015
up €14,015 (+19.4%), from €72,072 to €86,086
- Staff costs +€4,348
up €4,348 (+8.6%), from €50,268 to €54,616
- Depreciation +€2,162
up €2,162 (+22.2%), from €9,752 to €11,914
- Taxes +€1,969
up €1,969 (+57.4%), from €3,428 to €5,397
- Financial charges +€1,428
up €1,428 (+930%), from €154 to €1,581
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 | €123,624 | €136,464 | +€12,840 | +10.4% |
| Fixed assets | 21/28 | €49,903 | €37,989 | -€11,914 | -23.9% |
| Tangible fixed assets | 22/27 | €49,130 | €37,216 | -€11,914 | -24.3% |
| Plant, machinery and equipment | 23 | €3,703 | €2,809 | -€894 | -24.1% |
| Furniture and vehicles | 24 | €45,427 | €34,406 | -€11,020 | -24.3% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €773 | €773 | = | 0.0% |
| Current assets | 29/58 | €73,721 | €98,475 | +€24,755 | +33.6% |
| Amounts receivable within one year | 40/41 | €16,044 | €23,503 | +€7,459 | +46.5% |
| Trade receivables | 40 | €13,525 | €22,241 | +€8,716 | +64.4% |
| Other amounts receivable | 41 | €2,519 | €1,262 | -€1,257 | -49.9% |
| Cash at bank and in hand | 54/58 | €57,380 | €57,609 | +€229 | +0.4% |
| Deferred charges and accrued income | 490/1 | €297 | €17,363 | +€17,067 | +5,752% |
| Total equity and liabilities | 10/49 | €123,624 | €136,464 | +€12,840 | +10.4% |
| Equity | 10/15 | €38,745 | €50,418 | +€11,674 | +30.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,745 | €47,418 | +€11,674 | +32.7% |
| Distributable reserves | 133 | €35,745 | €47,418 | +€11,674 | +32.7% |
| Amounts payable | 17/49 | €84,879 | €86,046 | +€1,167 | +1.4% |
| Amounts payable after more than one year | 17 | €35,799 | €31,461 | -€4,339 | -12.1% |
| Financial debts | 170/4 | €35,799 | €31,461 | -€4,339 | -12.1% |
| Amounts payable within one year | 42/48 | €49,080 | €54,586 | +€5,505 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €3,032 | €3,199 | +€166 | +5.5% |
| Trade debts | 44 | €30,951 | €30,761 | -€189 | -0.6% |
| Suppliers | 440/4 | €30,951 | €30,761 | -€189 | -0.6% |
| Taxes, remuneration and social security | 45 | €3,126 | €10,071 | +€6,945 | +222% |
| Taxes | 450/3 | €0 | €8,397 | +€8,397 | |
| Remuneration and social security | 454/9 | €3,126 | €1,674 | -€1,451 | -46.4% |
| Other amounts payable | 47/48 | €11,971 | €10,554 | -€1,417 | -11.8% |
| Non-recurring operating income | 76A | - | €13,375 | +€13,375 | |
| Remuneration, social security and pensions | 62 | €50,268 | €54,616 | +€4,348 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,752 | €11,914 | +€2,162 | +22.2% |
| Other operating charges | 640/8 | €1,042 | €1,062 | +€19 | +1.8% |
| Gross operating margin | 9900 | €72,072 | €86,086 | +€14,015 | +19.4% |
| Operating profit (loss) | 9901 | €11,009 | €18,495 | +€7,486 | +68.0% |
| Financial income | 75/76B | €37 | €157 | +€120 | +324% |
| Recurring financial income | 75 | €37 | €157 | +€120 | +324% |
| Financial charges | 65/66B | €154 | €1,581 | +€1,428 | +930% |
| Recurring financial charges | 65 | €154 | €1,581 | +€1,428 | +930% |
| Profit (loss) for the period before taxes | 9903 | €10,892 | €17,070 | +€6,178 | +56.7% |
| Income taxes | 67/77 | €3,428 | €5,397 | +€1,969 | +57.4% |
| Profit (loss) for the period | 9904 | €7,465 | €11,674 | +€4,209 | +56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,465 | €11,674 | +€4,209 | +56.4% |
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 20 October 2026 via checked.be.