SALIH: 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.
SALIH
Largest movements
- Tangible fixed assets -€43,157
down €43,157 (-36.7%), from €117,601 to €74,443
of which Leasing and similar rights: -€29,066
- Cash +€9,391
up €9,391 (+396.7%), from €2,367 to €11,758
mainly Depreciation (+€50,353) and Trade debts (+€9,991)
- Deferred charges and accrued income +€8,312
up €8,312 (+366.1%), from €2,270 to €10,582
- Debts after one year -€24,651
down €24,651 (-59.4%), from €41,469 to €16,818
- Current portion of long-term debt -€14,667
down €14,667 (-37.3%), from €39,319 to €24,651
- Trade debts +€9,991
up €9,991 (+35.8%), from €27,870 to €37,861
- Reserves +€5,680
up €5,680 (+2.4%), from €236,932 to €242,612
- Staff costs +€8,934
up €8,934 (+11.5%), from €77,928 to €86,862
- Depreciation -€5,925
down €5,925 (-10.5%), from €56,278 to €50,353
- Financial income -€5,418
down €5,418 (-45.4%), from €11,931 to €6,513
of which Non-recurring financial income: -€5,193
- Financial charges -€4,694
down €4,694 (-45.6%), from €10,291 to €5,597
of which Non-recurring financial charges: -€3,112
- Write-downs +€1,777
up €1,777, from -€1,727 to €50
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 | €404,346 | €380,552 | -€23,794 | -5.9% |
| Fixed assets | 21/28 | €120,282 | €77,125 | -€43,157 | -35.9% |
| Tangible fixed assets | 22/27 | €117,601 | €74,443 | -€43,157 | -36.7% |
| Plant, machinery and equipment | 23 | €1,298 | €427 | -€870 | -67.1% |
| Furniture and vehicles | 24 | €57,981 | €45,417 | -€12,563 | -21.7% |
| Leasing and similar rights | 25 | €49,323 | €20,257 | -€29,066 | -58.9% |
| Other tangible fixed assets | 26 | €8,999 | €8,342 | -€657 | -7.3% |
| Financial fixed assets | 28 | €2,681 | €2,681 | = | 0.0% |
| Current assets | 29/58 | €284,064 | €303,427 | +€19,363 | +6.8% |
| Amounts receivable after more than one year | 29 | €209,698 | €209,698 | = | 0.0% |
| Other amounts receivable | 291 | €209,698 | €209,698 | = | 0.0% |
| Stocks and contracts in progress | 3 | €50 | - | -€50 | |
| Stocks | 30/36 | €50 | - | -€50 | |
| Amounts receivable within one year | 40/41 | €69,679 | €71,390 | +€1,711 | +2.5% |
| Trade receivables | 40 | €37,926 | €57,816 | +€19,890 | +52.4% |
| Other amounts receivable | 41 | €31,752 | €13,574 | -€18,179 | -57.3% |
| Cash at bank and in hand | 54/58 | €2,367 | €11,758 | +€9,391 | +396.7% |
| Deferred charges and accrued income | 490/1 | €2,270 | €10,582 | +€8,312 | +366.1% |
| Total equity and liabilities | 10/49 | €404,346 | €380,552 | -€23,794 | -5.9% |
| Equity | 10/15 | €249,332 | €255,012 | +€5,680 | +2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €236,932 | €242,612 | +€5,680 | +2.4% |
| Distributable reserves | 133 | €236,932 | €242,612 | +€5,680 | +2.4% |
| Amounts payable | 17/49 | €155,014 | €125,540 | -€29,474 | -19.0% |
| Amounts payable after more than one year | 17 | €41,469 | €16,818 | -€24,651 | -59.4% |
| Financial debts | 170/4 | €41,469 | €16,818 | -€24,651 | -59.4% |
| Amounts payable within one year | 42/48 | €113,545 | €108,723 | -€4,822 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €39,319 | €24,651 | -€14,667 | -37.3% |
| Trade debts | 44 | €27,870 | €37,861 | +€9,991 | +35.8% |
| Suppliers | 440/4 | €27,870 | €37,861 | +€9,991 | +35.8% |
| Taxes, remuneration and social security | 45 | €46,356 | €43,741 | -€2,615 | -5.6% |
| Taxes | 450/3 | €14,951 | €22,409 | +€7,458 | +49.9% |
| Remuneration and social security | 454/9 | €31,405 | €21,332 | -€10,073 | -32.1% |
| Other amounts payable | 47/48 | - | €2,469 | +€2,469 | |
| Non-recurring operating income | 76A | - | €450 | +€450 | |
| Remuneration, social security and pensions | 62 | €77,928 | €86,862 | +€8,934 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,278 | €50,353 | -€5,925 | -10.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,727 | €50 | +€1,777 | |
| Other operating charges | 640/8 | €663 | €750 | +€87 | +13.1% |
| Non-recurring operating charges | 66A | €4,979 | €810 | -€4,169 | -83.7% |
| Gross operating margin | 9900 | €146,341 | €144,982 | -€1,359 | -0.9% |
| Operating profit (loss) | 9901 | €8,221 | €6,157 | -€2,064 | -25.1% |
| Financial income | 75/76B | €11,931 | €6,513 | -€5,418 | -45.4% |
| Recurring financial income | 75 | €6,738 | €6,513 | -€225 | -3.3% |
| Non-recurring financial income | 76B | €5,193 | - | -€5,193 | |
| Financial charges | 65/66B | €10,291 | €5,597 | -€4,694 | -45.6% |
| Recurring financial charges | 65 | €6,433 | €4,851 | -€1,582 | -24.6% |
| Non-recurring financial charges | 66B | €3,858 | €745 | -€3,112 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €9,861 | €7,073 | -€2,788 | -28.3% |
| Income taxes | 67/77 | €1,084 | €1,393 | +€309 | +28.5% |
| Profit (loss) for the period | 9904 | €8,777 | €5,680 | -€3,097 | -35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,777 | €5,680 | -€3,097 | -35.3% |
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 30 September 2026 via checked.be.