SALEMI: 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.
SALEMI
Largest movements
- Tangible fixed assets -€61,150
down €61,150 (-10.1%), from €607,239 to €546,088
of which Furniture and vehicles: -€56,074
- Cash +€8,813
up €8,813 (+36.1%), from €24,405 to €33,218
mainly Depreciation (+€88,385) and Trade debts (+€49,391)
- Debts after one year -€72,486
down €72,486 (-18.9%), from €382,713 to €310,228
- Reserves -€56,000
down €56,000 (-47.9%), from €116,900 to €60,900
- Trade debts +€49,391
up €49,391 (+300.4%), from €16,441 to €65,832
- Other debts +€38,738
up €38,738 (+738.4%), from €5,246 to €43,984
- Staff costs +€63,479
up €63,479 (+75.9%), from €83,681 to €147,160
- Gross operating margin +€42,380
up €42,380 (+18.3%), from €231,879 to €274,259
- Taxes -€5,348
down €5,348 (-46.6%), from €11,481 to €6,133
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 | €698,997 | €655,522 | -€43,474 | -6.2% |
| Fixed assets | 21/28 | €607,239 | €546,088 | -€61,150 | -10.1% |
| Tangible fixed assets | 22/27 | €607,239 | €546,088 | -€61,150 | -10.1% |
| Land and buildings | 22 | €466,249 | €445,477 | -€20,771 | -4.5% |
| Plant, machinery and equipment | 23 | €1,705 | €17,400 | +€15,695 | +920.4% |
| Furniture and vehicles | 24 | €139,285 | €83,211 | -€56,074 | -40.3% |
| Current assets | 29/58 | €91,758 | €109,434 | +€17,676 | +19.3% |
| Amounts receivable within one year | 40/41 | €67,353 | €72,168 | +€4,815 | +7.1% |
| Trade receivables | 40 | €52,114 | €70,726 | +€18,611 | +35.7% |
| Other amounts receivable | 41 | €15,239 | €1,442 | -€13,797 | -90.5% |
| Cash at bank and in hand | 54/58 | €24,405 | €33,218 | +€8,813 | +36.1% |
| Deferred charges and accrued income | 490/1 | - | €4,049 | +€4,049 | |
| Total equity and liabilities | 10/49 | €698,997 | €655,522 | -€43,474 | -6.2% |
| Equity | 10/15 | €205,612 | €148,114 | -€57,498 | -28.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €116,900 | €60,900 | -€56,000 | -47.9% |
| Distributable reserves | 133 | €116,900 | €60,900 | -€56,000 | -47.9% |
| Profit (loss) carried forward | 14 | €71,041 | €71,464 | +€422 | +0.6% |
| Investment grants | 15 | €5,271 | €3,351 | -€1,920 | -36.4% |
| Amounts payable | 17/49 | €493,384 | €507,408 | +€14,023 | +2.8% |
| Amounts payable after more than one year | 17 | €382,713 | €310,228 | -€72,486 | -18.9% |
| Financial debts | 170/4 | €382,713 | €310,228 | -€72,486 | -18.9% |
| Amounts payable within one year | 42/48 | €107,211 | €197,040 | +€89,829 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €76,582 | €74,979 | -€1,603 | -2.1% |
| Financial debts | 43 | €1,748 | - | -€1,748 | |
| Credit institutions | 430/8 | €1,748 | - | -€1,748 | |
| Trade debts | 44 | €16,441 | €65,832 | +€49,391 | +300.4% |
| Suppliers | 440/4 | €16,441 | €65,832 | +€49,391 | +300.4% |
| Taxes, remuneration and social security | 45 | €7,193 | €12,244 | +€5,051 | +70.2% |
| Taxes | 450/3 | €1,900 | €2,130 | +€230 | +12.1% |
| Remuneration and social security | 454/9 | €5,293 | €10,114 | +€4,821 | +91.1% |
| Other amounts payable | 47/48 | €5,246 | €43,984 | +€38,738 | +738.4% |
| Accrued charges and deferred income | 492/3 | €3,460 | €140 | -€3,320 | -95.9% |
| Remuneration, social security and pensions | 62 | €83,681 | €147,160 | +€63,479 | +75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,526 | €88,385 | -€141 | -0.2% |
| Other operating charges | 640/8 | €9,663 | €9,205 | -€458 | -4.7% |
| Non-recurring operating charges | 66A | - | €16 | +€16 | |
| Gross operating margin | 9900 | €231,879 | €274,259 | +€42,380 | +18.3% |
| Operating profit (loss) | 9901 | €50,009 | €29,492 | -€20,517 | -41.0% |
| Financial income | 75/76B | €4,397 | €2,547 | -€1,850 | -42.1% |
| Recurring financial income | 75 | €4,397 | €2,547 | -€1,850 | -42.1% |
| Financial charges | 65/66B | €11,006 | €9,484 | -€1,522 | -13.8% |
| Recurring financial charges | 65 | €11,006 | €9,484 | -€1,522 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €43,399 | €22,555 | -€20,845 | -48.0% |
| Income taxes | 67/77 | €11,481 | €6,133 | -€5,348 | -46.6% |
| Profit (loss) for the period | 9904 | €31,918 | €16,422 | -€15,496 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,918 | €16,422 | -€15,496 | -48.5% |
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.