SALEX: 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.
SALEX
Largest movements
- Cash +€63,715
up €63,715 (+146%), from €43,706 to €107,421
mainly Net result for the year (+€86,349) and Tax, wage and social debts (+€14,778)
- Current investments +€32,000
new in 2025: €32,000
- Receivables within one year +€5,906
up €5,906 (+32.7%), from €18,052 to €23,958
- Profit (loss) carried forward +€86,349
up €86,349 (+226%), from €38,289 to €124,637
- Tax, wage and social debts +€14,778
up €14,778 (+76.2%), from €19,389 to €34,167
- Gross operating margin +€61,574
up €61,574 (+127%), from €48,536 to €110,110
- Taxes +€13,294
up €13,294 (+131%), from €10,135 to €23,429
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 | €63,364 | €164,717 | +€101,353 | +160% |
| Current assets | 29/58 | €63,364 | €164,717 | +€101,353 | +160% |
| Amounts receivable within one year | 40/41 | €18,052 | €23,958 | +€5,906 | +32.7% |
| Trade receivables | 40 | €18,052 | €23,958 | +€5,906 | +32.7% |
| Current investments | 50/53 | - | €32,000 | +€32,000 | |
| Cash at bank and in hand | 54/58 | €43,706 | €107,421 | +€63,715 | +146% |
| Deferred charges and accrued income | 490/1 | €1,607 | €1,338 | -€269 | -16.7% |
| Total equity and liabilities | 10/49 | €63,364 | €164,717 | +€101,353 | +160% |
| Equity | 10/15 | €43,289 | €129,637 | +€86,349 | +199% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,289 | €124,637 | +€86,349 | +226% |
| Amounts payable | 17/49 | €20,076 | €35,080 | +€15,004 | +74.7% |
| Amounts payable within one year | 42/48 | €20,076 | €35,080 | +€15,004 | +74.7% |
| Trade debts | 44 | €687 | €913 | +€227 | +33.0% |
| Suppliers | 440/4 | €687 | €913 | +€227 | +33.0% |
| Taxes, remuneration and social security | 45 | €19,389 | €34,167 | +€14,778 | +76.2% |
| Taxes | 450/3 | €19,389 | €34,167 | +€14,778 | +76.2% |
| Other operating charges | 640/8 | €6 | €139 | +€133 | +2,052% |
| Gross operating margin | 9900 | €48,536 | €110,110 | +€61,574 | +127% |
| Operating profit (loss) | 9901 | €48,529 | €109,970 | +€61,441 | +127% |
| Financial charges | 65/66B | €105 | €193 | +€88 | +83.5% |
| Recurring financial charges | 65 | €105 | €193 | +€88 | +83.5% |
| Profit (loss) for the period before taxes | 9903 | €48,424 | €109,777 | +€61,353 | +127% |
| Income taxes | 67/77 | €10,135 | €23,429 | +€13,294 | +131% |
| Profit (loss) for the period | 9904 | €38,289 | €86,349 | +€48,060 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €38,289 | €86,349 | +€48,060 | +126% |
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 17 October 2026 via checked.be.