SALEMBIER: 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.
What changed
SALEMBIER
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,375
2024 · €27,251-€22,876
Equity
€628,135
2024 · €623,759+€4,375
Cash
€482,854
2024 · €377,993+€104,861
Balance sheet total
€902,490
2024 · €832,922+€69,568
Largest movements
Assets
- Cash +€104,861
up €104,861 (+27.7%), from €377,993 to €482,854
mainly Other debts (+€92,077) and Receivables within one year (+€49,029)
- Receivables within one year -€49,029
down €49,029 (-18.0%), from €272,614 to €223,585
of which Trade receivables: -€56,048
Equity and liabilities
- Other debts +€92,077
up €92,077 (+75.4%), from €122,166 to €214,243
- Trade debts -€30,667
down €30,667 (-37.5%), from €81,886 to €51,219
Income statement
- Staff costs +€66,334
up €66,334 (+12.4%), from €534,833 to €601,167
- Gross operating margin +€37,772
up €37,772 (+6.2%), from €610,706 to €648,478
- Taxes -€8,566
down €8,566 (-71.6%), from €11,958 to €3,391
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.
Result 2024
€27,251
Gross operating margin
+€37,772
Staff costs
-€66,334
Depreciation
+€283
Write-downs
-€5,877
Other operating charges
+€3,987
Financial income
+€1,745
Financial charges
-€3,017
Taxes
+€8,566
Result 2025
€4,375
raises the resultlowers the result
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.
From operations
+€130,346
Investment
-€25,484
Financing
€0
Cash 2024
€377,993
From operations (derived)
+€130,346
Net result for the year
+€4,375
Depreciation
+€21,231
Stocks and contracts
-€8,428
Receivables within one year
+€49,029
Deferred charges and accrued income
-€1,054
Trade debts
-€30,667
Tax, wage and social debts
+€189
Other debts
+€92,077
Accrued charges and deferred income
+€3,594
Investment (derived)
-€25,484
Investment in fixed assets (net)
-€25,484
Cash 2025
€482,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €832,922 | €902,490 | +€69,568 | +8.4% |
| Fixed assets | 21/28 | €44,944 | €49,198 | +€4,254 | +9.5% |
| Tangible fixed assets | 22/27 | €44,195 | €48,449 | +€4,254 | +9.6% |
| Land and buildings | 22 | - | €13,678 | +€13,678 | |
| Plant, machinery and equipment | 23 | €37,903 | €28,847 | -€9,055 | -23.9% |
| Furniture and vehicles | 24 | €6,292 | €5,923 | -€369 | -5.9% |
| Financial fixed assets | 28 | €749 | €749 | = | 0.0% |
| Current assets | 29/58 | €787,978 | €853,293 | +€65,315 | +8.3% |
| Stocks and contracts in progress | 3 | €134,282 | €142,710 | +€8,428 | +6.3% |
| Stocks | 30/36 | €106,816 | €119,807 | +€12,991 | +12.2% |
| Contracts in progress | 37 | €27,466 | €22,903 | -€4,563 | -16.6% |
| Amounts receivable within one year | 40/41 | €272,614 | €223,585 | -€49,029 | -18.0% |
| Trade receivables | 40 | €266,088 | €210,041 | -€56,048 | -21.1% |
| Other amounts receivable | 41 | €6,526 | €13,544 | +€7,019 | +108% |
| Cash at bank and in hand | 54/58 | €377,993 | €482,854 | +€104,861 | +27.7% |
| Deferred charges and accrued income | 490/1 | €3,090 | €4,144 | +€1,054 | +34.1% |
| Total equity and liabilities | 10/49 | €832,922 | €902,490 | +€69,568 | +8.4% |
| Equity | 10/15 | €623,759 | €628,135 | +€4,375 | +0.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €473,759 | €478,135 | +€4,375 | +0.9% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €205 | €205 | = | 0.0% |
| Distributable reserves | 133 | €458,555 | €462,930 | +€4,375 | +1.0% |
| Amounts payable | 17/49 | €209,163 | €274,356 | +€65,193 | +31.2% |
| Amounts payable within one year | 42/48 | €207,035 | €268,634 | +€61,599 | +29.8% |
| Trade debts | 44 | €81,886 | €51,219 | -€30,667 | -37.5% |
| Suppliers | 440/4 | €81,886 | €51,219 | -€30,667 | -37.5% |
| Taxes, remuneration and social security | 45 | €2,983 | €3,172 | +€189 | +6.3% |
| Taxes | 450/3 | €2,792 | €2,769 | -€22 | -0.8% |
| Remuneration and social security | 454/9 | €191 | €403 | +€212 | +111% |
| Other amounts payable | 47/48 | €122,166 | €214,243 | +€92,077 | +75.4% |
| Accrued charges and deferred income | 492/3 | €2,128 | €5,722 | +€3,594 | +169% |
| Remuneration, social security and pensions | 62 | €534,833 | €601,167 | +€66,334 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,513 | €21,231 | -€283 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,877 | - | +€5,877 | |
| Other operating charges | 640/8 | €10,454 | €6,467 | -€3,987 | -38.1% |
| Gross operating margin | 9900 | €610,706 | €648,478 | +€37,772 | +6.2% |
| Operating profit (loss) | 9901 | €49,783 | €19,613 | -€30,170 | -60.6% |
| Financial income | 75/76B | €8,028 | €9,773 | +€1,745 | +21.7% |
| Recurring financial income | 75 | €8,028 | €9,773 | +€1,745 | +21.7% |
| Financial charges | 65/66B | €18,602 | €21,620 | +€3,017 | +16.2% |
| Recurring financial charges | 65 | €18,602 | €21,620 | +€3,017 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €39,209 | €7,767 | -€31,443 | -80.2% |
| Income taxes | 67/77 | €11,958 | €3,391 | -€8,566 | -71.6% |
| Profit (loss) for the period | 9904 | €27,251 | €4,375 | -€22,876 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,251 | €4,375 | -€22,876 | -83.9% |
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 14 October 2026 via checked.be.