S.L.M.: 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.
S.L.M.
Largest movements
- Receivables within one year -€17,054
down €17,054 (-89.4%), from €19,073 to €2,018
of which Trade receivables: -€17,148
- Tangible fixed assets -€8,329
down €8,329 (-34.9%), from €23,894 to €15,566
- Cash -€3,355
down €3,355 (-32.1%), from €10,447 to €7,092
mainly Other debts (-€14,346) and Debts after one year (-€7,887)
- Deferred charges and accrued income +€831
up €831 (+58.7%), from €1,416 to €2,247
- Other debts -€14,346
down €14,346 (-66.1%), from €21,701 to €7,355
- Debts after one year -€7,887
down €7,887 (-53.5%), from €14,747 to €6,861
- Tax, wage and social debts -€3,745
down €3,745 (-83.6%), from €4,481 to €736
- Profit (loss) carried forward -€3,376
down €3,376 (-27.8%), from -€12,140 to -€15,516
- Trade debts +€1,085
up €1,085 (+170%), from €639 to €1,725
- Gross operating margin -€15,872
down €15,872 (-66.8%), from €23,752 to €7,881
- Other operating charges +€408
up €408 (+28.2%), from €1,444 to €1,851
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 | €55,596 | €27,689 | -€27,907 | -50.2% |
| Fixed assets | 21/28 | €23,894 | €15,566 | -€8,329 | -34.9% |
| Tangible fixed assets | 22/27 | €23,894 | €15,566 | -€8,329 | -34.9% |
| Leasing and similar rights | 25 | €23,894 | €15,566 | -€8,329 | -34.9% |
| Current assets | 29/58 | €31,702 | €12,123 | -€19,578 | -61.8% |
| Stocks and contracts in progress | 3 | €766 | €766 | = | 0.0% |
| Stocks | 30/36 | €766 | €766 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,073 | €2,018 | -€17,054 | -89.4% |
| Trade receivables | 40 | €19,073 | €1,925 | -€17,148 | -89.9% |
| Other amounts receivable | 41 | - | €93 | +€93 | |
| Cash at bank and in hand | 54/58 | €10,447 | €7,092 | -€3,355 | -32.1% |
| Deferred charges and accrued income | 490/1 | €1,416 | €2,247 | +€831 | +58.7% |
| Total equity and liabilities | 10/49 | €55,596 | €27,689 | -€27,907 | -50.2% |
| Equity | 10/15 | €6,503 | €3,127 | -€3,376 | -51.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,443 | €12,443 | = | 0.0% |
| Distributable reserves | 133 | €12,443 | €12,443 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,140 | -€15,516 | -€3,376 | -27.8% |
| Amounts payable | 17/49 | €49,093 | €24,563 | -€24,531 | -50.0% |
| Amounts payable after more than one year | 17 | €14,747 | €6,861 | -€7,887 | -53.5% |
| Financial debts | 170/4 | €14,747 | €6,861 | -€7,887 | -53.5% |
| Amounts payable within one year | 42/48 | €34,346 | €17,702 | -€16,644 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €7,525 | €7,887 | +€361 | +4.8% |
| Trade debts | 44 | €639 | €1,725 | +€1,085 | +170% |
| Suppliers | 440/4 | €639 | €1,725 | +€1,085 | +170% |
| Taxes, remuneration and social security | 45 | €4,481 | €736 | -€3,745 | -83.6% |
| Taxes | 450/3 | €4,481 | €736 | -€3,745 | -83.6% |
| Other amounts payable | 47/48 | €21,701 | €7,355 | -€14,346 | -66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,329 | €8,329 | = | 0.0% |
| Other operating charges | 640/8 | €1,444 | €1,851 | +€408 | +28.2% |
| Gross operating margin | 9900 | €23,752 | €7,881 | -€15,872 | -66.8% |
| Operating profit (loss) | 9901 | €13,980 | -€2,299 | -€16,279 | |
| Financial charges | 65/66B | €1,188 | €989 | -€200 | -16.8% |
| Recurring financial charges | 65 | €1,188 | €989 | -€200 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €12,792 | -€3,288 | -€16,080 | |
| Income taxes | 67/77 | €82 | €88 | +€6 | +7.1% |
| Profit (loss) for the period | 9904 | €12,709 | -€3,376 | -€16,086 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,709 | -€3,376 | -€16,086 |
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 15 October 2026 via checked.be.