S.L.V.: 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.V.
Largest movements
- Cash -€86,274
down €86,274 (-55.0%), from €156,737 to €70,464
mainly Other debts (-€142,025) and Contributions, distributions and other (-€22,376)
- Tangible fixed assets -€60,939
down €60,939 (-6.2%), from €975,211 to €914,272
of which Land and buildings: -€34,902
- Receivables within one year +€20,022
up €20,022 (+60.4%), from €33,169 to €53,191
of which Trade receivables: +€11,310
- Other debts -€142,025
no longer reported in 2025 (was €142,025)
- Reserves +€34,252
up €34,252 (+7.7%), from €444,834 to €479,086
of which Distributable reserves: +€38,681
- Accrued charges and deferred income -€16,670
down €16,670 (-59.8%), from €27,879 to €11,209
- Financial charges -€13,518
down €13,518 (-75.2%), from €17,979 to €4,461
- Gross operating margin -€9,336
down €9,336 (-5.3%), from €176,028 to €166,691
- Financial income -€3,161
no longer reported in 2025 (was €3,161)
- Depreciation -€3,069
down €3,069 (-4.4%), from €69,563 to €66,495
- Write-downs +€1,925
new in 2025: €1,925
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 | €1,166,863 | €1,039,642 | -€127,222 | -10.9% |
| Fixed assets | 21/28 | €975,211 | €914,272 | -€60,939 | -6.2% |
| Tangible fixed assets | 22/27 | €975,211 | €914,272 | -€60,939 | -6.2% |
| Land and buildings | 22 | €555,867 | €520,965 | -€34,902 | -6.3% |
| Plant, machinery and equipment | 23 | €1,403 | €6,029 | +€4,626 | +330% |
| Furniture and vehicles | 24 | €48,256 | €35,943 | -€12,313 | -25.5% |
| Other tangible fixed assets | 26 | €369,685 | €351,335 | -€18,349 | -5.0% |
| Current assets | 29/58 | €191,652 | €125,369 | -€66,283 | -34.6% |
| Amounts receivable within one year | 40/41 | €33,169 | €53,191 | +€20,022 | +60.4% |
| Trade receivables | 40 | €31,443 | €42,752 | +€11,310 | +36.0% |
| Other amounts receivable | 41 | €1,726 | €10,439 | +€8,712 | +505% |
| Cash at bank and in hand | 54/58 | €156,737 | €70,464 | -€86,274 | -55.0% |
| Deferred charges and accrued income | 490/1 | €1,745 | €1,715 | -€31 | -1.8% |
| Total equity and liabilities | 10/49 | €1,166,863 | €1,039,642 | -€127,222 | -10.9% |
| Equity | 10/15 | €890,834 | €925,086 | +€34,252 | +3.8% |
| Contributions | 10/11 | €446,000 | €446,000 | = | 0.0% |
| Capital | 10 | €446,000 | €446,000 | = | 0.0% |
| Issued capital | 100 | €446,000 | €446,000 | = | 0.0% |
| Reserves | 13 | €444,834 | €479,086 | +€34,252 | +7.7% |
| Non-distributable reserves | 130/1 | €23,780 | €26,994 | +€3,214 | +13.5% |
| Legal reserve | 130 | €23,780 | €26,994 | +€3,214 | +13.5% |
| Tax-exempt reserves | 132 | €132,722 | €125,080 | -€7,643 | -5.8% |
| Distributable reserves | 133 | €288,332 | €327,013 | +€38,681 | +13.4% |
| Provisions and deferred taxes | 16 | €32,953 | €31,042 | -€1,911 | -5.8% |
| Deferred taxes | 168 | €32,953 | €31,042 | -€1,911 | -5.8% |
| Amounts payable | 17/49 | €243,077 | €83,514 | -€159,563 | -65.6% |
| Amounts payable after more than one year | 17 | €45,742 | €44,495 | -€1,247 | -2.7% |
| Financial debts | 170/4 | €35,107 | €25,760 | -€9,347 | -26.6% |
| Other amounts payable | 178/9 | €10,635 | €18,735 | +€8,100 | +76.2% |
| Amounts payable within one year | 42/48 | €169,456 | €27,810 | -€141,646 | -83.6% |
| Current portion of amounts payable after more than one year | 42 | €9,017 | €9,347 | +€330 | +3.7% |
| Financial debts | 43 | €12 | - | -€12 | |
| Other loans | 439 | €12 | - | -€12 | |
| Trade debts | 44 | €11,193 | €4,935 | -€6,257 | -55.9% |
| Suppliers | 440/4 | €11,193 | €4,935 | -€6,257 | -55.9% |
| Taxes, remuneration and social security | 45 | €7,210 | €13,527 | +€6,318 | +87.6% |
| Taxes | 450/3 | €7,210 | €13,527 | +€6,318 | +87.6% |
| Other amounts payable | 47/48 | €142,025 | - | -€142,025 | |
| Accrued charges and deferred income | 492/3 | €27,879 | €11,209 | -€16,670 | -59.8% |
| Non-recurring operating income | 76A | €10,553 | - | -€10,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,563 | €66,495 | -€3,069 | -4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,925 | +€1,925 | |
| Other operating charges | 640/8 | €10,286 | €10,643 | +€356 | +3.5% |
| Gross operating margin | 9900 | €176,028 | €166,691 | -€9,336 | -5.3% |
| Operating profit (loss) | 9901 | €96,178 | €87,629 | -€8,549 | -8.9% |
| Financial income | 75/76B | €3,161 | - | -€3,161 | |
| Recurring financial income | 75 | €3,161 | - | -€3,161 | |
| Financial charges | 65/66B | €17,979 | €4,461 | -€13,518 | -75.2% |
| Recurring financial charges | 65 | €17,979 | €4,461 | -€13,518 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €81,360 | €83,168 | +€1,809 | +2.2% |
| Transfer from deferred taxes | 780 | €1,911 | €1,911 | = | 0.0% |
| Income taxes | 67/77 | €26,566 | €28,451 | +€1,885 | +7.1% |
| Profit (loss) for the period | 9904 | €56,704 | €56,628 | -€76 | -0.1% |
| Transfer from tax-exempt reserves | 789 | €7,643 | €7,643 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,347 | €64,270 | -€76 | -0.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.