Salco: what changed
Two fiscal 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.
Salco
Largest movements
- Current investments -€329,459
no longer reported in 2025 (was €329,459)
- Cash +€228,176
up €228,176 (+145.0%), from €157,337 to €385,513
mainly Current investments (+€329,459) and Other debts (+€115,796)
- Receivables within one year +€25,200
up €25,200 (+35.1%), from €71,694 to €96,894
of which Trade receivables: +€12,894
- Reserves -€188,000
down €188,000 (-42.7%), from €440,559 to €252,559
of which Distributable reserves: -€188,000
- Other debts +€115,796
up €115,796 (+94.1%), from €123,037 to €238,833
- Gross operating margin -€11,621
down €11,621 (-13.3%), from €87,553 to €75,932
- Taxes -€2,480
down €2,480 (-9.7%), from €25,502 to €23,023
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 | €627,064 | €548,455 | -€78,609 | -12.5% |
| Fixed assets | 21/28 | €68,574 | €66,048 | -€2,526 | -3.7% |
| Tangible fixed assets | 22/27 | €68,574 | €66,048 | -€2,526 | -3.7% |
| Land and buildings | 22 | €63,378 | €63,378 | = | 0.0% |
| Furniture and vehicles | 24 | €4,496 | €1,970 | -€2,526 | -56.2% |
| Assets under construction and advance payments | 27 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €558,490 | €482,407 | -€76,083 | -13.6% |
| Amounts receivable within one year | 40/41 | €71,694 | €96,894 | +€25,200 | +35.1% |
| Trade receivables | 40 | €71,694 | €84,588 | +€12,894 | +18.0% |
| Other amounts receivable | 41 | - | €12,306 | +€12,306 | |
| Current investments | 50/53 | €329,459 | - | -€329,459 | |
| Cash at bank and in hand | 54/58 | €157,337 | €385,513 | +€228,176 | +145.0% |
| Total equity and liabilities | 10/49 | €627,064 | €548,455 | -€78,609 | -12.5% |
| Equity | 10/15 | €462,717 | €274,135 | -€188,582 | -40.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €440,559 | €252,559 | -€188,000 | -42.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Financial assistance | 1313 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €438,700 | €250,700 | -€188,000 | -42.9% |
| Profit (loss) carried forward | 14 | €3,566 | €2,984 | -€582 | -16.3% |
| Amounts payable | 17/49 | €164,347 | €274,320 | +€109,973 | +66.9% |
| Amounts payable within one year | 42/48 | €164,347 | €274,320 | +€109,973 | +66.9% |
| Trade debts | 44 | €26,916 | €22,753 | -€4,163 | -15.5% |
| Suppliers | 440/4 | €26,916 | €22,753 | -€4,163 | -15.5% |
| Taxes, remuneration and social security | 45 | €14,394 | €12,734 | -€1,660 | -11.5% |
| Taxes | 450/3 | €14,394 | €12,734 | -€1,660 | -11.5% |
| Other amounts payable | 47/48 | €123,037 | €238,833 | +€115,796 | +94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,526 | €2,526 | -€0 | 0.0% |
| Other operating charges | 640/8 | €914 | €1,061 | +€146 | +16.0% |
| Gross operating margin | 9900 | €87,553 | €75,932 | -€11,621 | -13.3% |
| Operating profit (loss) | 9901 | €84,112 | €72,345 | -€11,768 | -14.0% |
| Financial income | 75/76B | €182 | €974 | +€792 | +435.8% |
| Recurring financial income | 75 | €182 | €974 | +€792 | +435.8% |
| Financial charges | 65/66B | €85 | €45 | -€40 | -47.1% |
| Recurring financial charges | 65 | €85 | €45 | -€40 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €84,209 | €73,274 | -€10,935 | -13.0% |
| Income taxes | 67/77 | €25,502 | €23,023 | -€2,480 | -9.7% |
| Profit (loss) for the period | 9904 | €58,707 | €50,251 | -€8,456 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,707 | €50,251 | -€8,456 | -14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.