SALEX CONSTRUCT: 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.
SALEX CONSTRUCT
Largest movements
- Stocks and contracts +€37,993
new in 2026: €37,993
- Tangible fixed assets +€28,000
up €28,000 (+3823.7%), from €732 to €28,732
- Cash -€21,975
down €21,975 (-71.3%), from €30,833 to €8,858
mainly Stocks and contracts (-€37,993) and Investment in fixed assets (net) (-€30,945)
- Receivables within one year -€10,320
down €10,320 (-23.9%), from €43,101 to €32,782
of which Other amounts receivable: -€25,262
- Debts after one year +€24,312
new in 2026: €24,312
- Current portion of long-term debt +€7,942
new in 2026: €7,942
- Reserves +€6,000
up €6,000 (+322.6%), from €1,860 to €7,860
- Trade debts -€3,740
down €3,740 (-29.4%), from €12,730 to €8,989
- Tax, wage and social debts -€1,294
down €1,294 (-27.0%), from €4,787 to €3,492
of which Remuneration and social security: -€1,500
- Depreciation +€2,135
up €2,135 (+263.7%), from €810 to €2,945
- Gross operating margin -€1,795
down €1,795 (-11.3%), from €15,948 to €14,153
- Financial charges -€248
down €248 (-29.1%), from €851 to €603
- Taxes +€206
up €206 (+6.3%), from €3,287 to €3,492
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,667 | €108,365 | +€33,699 | +45.1% |
| Fixed assets | 21/28 | €732 | €28,732 | +€28,000 | +3823.7% |
| Tangible fixed assets | 22/27 | €732 | €28,732 | +€28,000 | +3823.7% |
| Furniture and vehicles | 24 | €732 | €28,732 | +€28,000 | +3823.7% |
| Current assets | 29/58 | €73,934 | €79,633 | +€5,699 | +7.7% |
| Stocks and contracts in progress | 3 | - | €37,993 | +€37,993 | |
| Contracts in progress | 37 | - | €37,993 | +€37,993 | |
| Amounts receivable within one year | 40/41 | €43,101 | €32,782 | -€10,320 | -23.9% |
| Trade receivables | 40 | €2,057 | €16,999 | +€14,942 | +726.4% |
| Other amounts receivable | 41 | €41,044 | €15,783 | -€25,262 | -61.5% |
| Cash at bank and in hand | 54/58 | €30,833 | €8,858 | -€21,975 | -71.3% |
| Total equity and liabilities | 10/49 | €74,667 | €108,365 | +€33,699 | +45.1% |
| Equity | 10/15 | €57,150 | €63,630 | +€6,479 | +11.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €1,860 | €7,860 | +€6,000 | +322.6% |
| Non-distributable reserves | 130/1 | €1,860 | €7,860 | +€6,000 | +322.6% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | - | €6,000 | +€6,000 | |
| Profit (loss) carried forward | 14 | €49,090 | €49,570 | +€479 | +1.0% |
| Amounts payable | 17/49 | €17,516 | €44,736 | +€27,219 | +155.4% |
| Amounts payable after more than one year | 17 | - | €24,312 | +€24,312 | |
| Financial debts | 170/4 | - | €24,312 | +€24,312 | |
| Amounts payable within one year | 42/48 | €17,516 | €20,423 | +€2,907 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | - | €7,942 | +€7,942 | |
| Trade debts | 44 | €12,730 | €8,989 | -€3,740 | -29.4% |
| Suppliers | 440/4 | €12,730 | €8,989 | -€3,740 | -29.4% |
| Taxes, remuneration and social security | 45 | €4,787 | €3,492 | -€1,294 | -27.0% |
| Taxes | 450/3 | €3,287 | €3,492 | +€206 | +6.3% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €810 | €2,945 | +€2,135 | +263.7% |
| Other operating charges | 640/8 | €477 | €633 | +€156 | +32.8% |
| Gross operating margin | 9900 | €15,948 | €14,153 | -€1,795 | -11.3% |
| Operating profit (loss) | 9901 | €14,661 | €10,575 | -€4,086 | -27.9% |
| Financial charges | 65/66B | €851 | €603 | -€248 | -29.1% |
| Recurring financial charges | 65 | €851 | €603 | -€248 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €13,810 | €9,972 | -€3,839 | -27.8% |
| Income taxes | 67/77 | €3,287 | €3,492 | +€206 | +6.3% |
| Profit (loss) for the period | 9904 | €10,524 | €6,479 | -€4,044 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,524 | €6,479 | -€4,044 | -38.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.