DR SELLESLAGH A.: 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.
DR SELLESLAGH A.
Largest movements
- Cash -€175,549
down €175,549 (-25.1%), from €698,879 to €523,330
mainly Contributions, distributions and other (-€357,398) and Deferred charges and accrued income (-€161,298)
- Deferred charges and accrued income +€161,298
up €161,298 (+4,589%), from €3,515 to €164,812
- Receivables within one year -€94,094
down €94,094 (-79.6%), from €118,171 to €24,077
- Current investments +€91,602
up €91,602 (+43.5%), from €210,431 to €302,034
- Receivables after one year -€37,500
no longer reported in 2025 (was €37,500)
- Tax, wage and social debts +€71,875
up €71,875 (+851%), from €8,450 to €80,325
- Short-term financial debts -€70,000
no longer reported in 2025 (was €70,000)
- Reserves -€44,899
down €44,899 (-4.9%), from €917,848 to €872,949
- Gross operating margin +€202,968
up €202,968 (+79.0%), from €256,857 to €459,825
- Taxes +€63,201
up €63,201 (+80.3%), from €78,674 to €141,875
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 | €1,071,922 | €1,034,560 | -€37,363 | -3.5% |
| Fixed assets | 21/28 | €3,426 | €20,306 | +€16,881 | +493% |
| Tangible fixed assets | 22/27 | €3,426 | €20,306 | +€16,881 | +493% |
| Plant, machinery and equipment | 23 | €1,831 | €1,077 | -€754 | -41.2% |
| Furniture and vehicles | 24 | €1,595 | €424 | -€1,171 | -73.4% |
| Other tangible fixed assets | 26 | - | €18,806 | +€18,806 | |
| Current assets | 29/58 | €1,068,496 | €1,014,253 | -€54,243 | -5.1% |
| Amounts receivable after more than one year | 29 | €37,500 | - | -€37,500 | |
| Other amounts receivable | 291 | €37,500 | - | -€37,500 | |
| Amounts receivable within one year | 40/41 | €118,171 | €24,077 | -€94,094 | -79.6% |
| Other amounts receivable | 41 | €118,171 | €24,077 | -€94,094 | -79.6% |
| Current investments | 50/53 | €210,431 | €302,034 | +€91,602 | +43.5% |
| Cash at bank and in hand | 54/58 | €698,879 | €523,330 | -€175,549 | -25.1% |
| Deferred charges and accrued income | 490/1 | €3,515 | €164,812 | +€161,298 | +4,589% |
| Total equity and liabilities | 10/49 | €1,071,922 | €1,034,560 | -€37,363 | -3.5% |
| Equity | 10/15 | €991,628 | €946,729 | -€44,899 | -4.5% |
| Contributions | 10/11 | €73,780 | €73,780 | = | 0.0% |
| Reserves | 13 | €917,848 | €872,949 | -€44,899 | -4.9% |
| Distributable reserves | 133 | €917,848 | €872,949 | -€44,899 | -4.9% |
| Amounts payable | 17/49 | €80,295 | €87,831 | +€7,536 | +9.4% |
| Amounts payable within one year | 42/48 | €80,295 | €87,831 | +€7,536 | +9.4% |
| Financial debts | 43 | €70,000 | - | -€70,000 | |
| Other loans | 439 | €70,000 | - | -€70,000 | |
| Trade debts | 44 | €1,845 | - | -€1,845 | |
| Suppliers | 440/4 | €1,845 | - | -€1,845 | |
| Taxes, remuneration and social security | 45 | €8,450 | €80,325 | +€71,875 | +851% |
| Taxes | 450/3 | €8,450 | €80,325 | +€71,875 | +851% |
| Other amounts payable | 47/48 | - | €7,506 | +€7,506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,625 | €3,120 | +€494 | +18.8% |
| Other operating charges | 640/8 | €623 | €1,238 | +€615 | +98.7% |
| Gross operating margin | 9900 | €256,857 | €459,825 | +€202,968 | +79.0% |
| Operating profit (loss) | 9901 | €253,608 | €455,467 | +€201,858 | +79.6% |
| Financial income | 75/76B | €5,370 | €1,603 | -€3,767 | -70.1% |
| Recurring financial income | 75 | €5,370 | €1,603 | -€3,767 | -70.1% |
| Financial charges | 65/66B | €3,821 | €2,695 | -€1,126 | -29.5% |
| Recurring financial charges | 65 | €3,821 | €2,695 | -€1,126 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €255,157 | €454,375 | +€199,217 | +78.1% |
| Income taxes | 67/77 | €78,674 | €141,875 | +€63,201 | +80.3% |
| Profit (loss) for the period | 9904 | €176,484 | €312,499 | +€136,016 | +77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €176,484 | €312,499 | +€136,016 | +77.1% |
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 23 October 2026 via checked.be.