SALBO: 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.
SALBO
Largest movements
- Stocks and contracts +€206,630
up €206,630 (+23.4%), from €882,616 to €1.1m
- Tangible fixed assets +€106,350
up €106,350 (+8.5%), from €1.3m to €1.4m
of which Other tangible fixed assets: +€106,745
- Debts after one year +€139,122
new in 2025: €139,122
- Other debts +€133,000
up €133,000 (+17.0%), from €781,934 to €914,934
- Profit (loss) carried forward +€31,677
up €31,677 (+96.4%), from -€32,858 to -€1,181
- Gross operating margin +€58,514
up €58,514 (+114.4%), from €51,161 to €109,675
- Other operating charges -€41,695
down €41,695 (-89.3%), from €46,714 to €5,018
- Depreciation +€26,343
up €26,343 (+61.1%), from €43,147 to €69,490
- Financial income -€5,857
down €5,857 (-100.0%), from €5,857 to €0
- Financial charges +€3,474
up €3,474 (+23163.1%), from €15 to €3,489
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.
Cash bridge derived
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 | €2,172,418 | €2,467,670 | +€295,251 | +13.6% |
| Fixed assets | 21/28 | €1,268,338 | €1,374,688 | +€106,350 | +8.4% |
| Tangible fixed assets | 22/27 | €1,258,038 | €1,364,388 | +€106,350 | +8.5% |
| Plant, machinery and equipment | 23 | €778 | €383 | -€395 | -50.8% |
| Other tangible fixed assets | 26 | €1,257,260 | €1,364,005 | +€106,745 | +8.5% |
| Financial fixed assets | 28 | €10,300 | €10,300 | = | 0.0% |
| Current assets | 29/58 | €904,080 | €1,092,981 | +€188,901 | +20.9% |
| Stocks and contracts in progress | 3 | €882,616 | €1,089,246 | +€206,630 | +23.4% |
| Contracts in progress | 37 | €882,616 | €1,089,246 | +€206,630 | +23.4% |
| Amounts receivable within one year | 40/41 | €21,076 | €2,972 | -€18,104 | -85.9% |
| Trade receivables | 40 | €10,000 | €2,000 | -€8,000 | -80.0% |
| Other amounts receivable | 41 | €11,076 | €972 | -€10,104 | -91.2% |
| Cash at bank and in hand | 54/58 | €388 | €764 | +€376 | +96.9% |
| Total equity and liabilities | 10/49 | €2,172,418 | €2,467,670 | +€295,251 | +13.6% |
| Equity | 10/15 | €1,277,142 | €1,308,819 | +€31,677 | +2.5% |
| Contributions | 10/11 | €1,310,000 | €1,310,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,858 | -€1,181 | +€31,677 | +96.4% |
| Amounts payable | 17/49 | €895,276 | €1,158,850 | +€263,574 | +29.4% |
| Amounts payable after more than one year | 17 | - | €139,122 | +€139,122 | |
| Financial debts | 170/4 | - | €139,122 | +€139,122 | |
| Amounts payable within one year | 42/48 | €895,276 | €1,019,729 | +€124,453 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | - | €13,487 | +€13,487 | |
| Trade debts | 44 | €113,342 | €91,307 | -€22,035 | -19.4% |
| Suppliers | 440/4 | €113,342 | €91,307 | -€22,035 | -19.4% |
| Other amounts payable | 47/48 | €781,934 | €914,934 | +€133,000 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,147 | €69,490 | +€26,343 | +61.1% |
| Other operating charges | 640/8 | €46,714 | €5,018 | -€41,695 | -89.3% |
| Gross operating margin | 9900 | €51,161 | €109,675 | +€58,514 | +114.4% |
| Operating profit (loss) | 9901 | -€38,699 | €35,167 | +€73,866 | |
| Financial income | 75/76B | €5,857 | €0 | -€5,857 | -100.0% |
| Recurring financial income | 75 | €5,857 | €0 | -€5,857 | -100.0% |
| Financial charges | 65/66B | €15 | €3,489 | +€3,474 | +23163.1% |
| Recurring financial charges | 65 | €15 | €3,489 | +€3,474 | +23163.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,858 | €31,677 | +€64,535 | |
| Profit (loss) for the period | 9904 | -€32,858 | €31,677 | +€64,535 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,858 | €31,677 | +€64,535 |
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 10 October 2026 via checked.be.