SALINCO: 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
SALINCO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€20,719
2024 · €4,945+€15,774
Equity
€3.2m
2024 · €3.2m+€20,719
Cash
€10,968
2024 · €47,173-€36,205
Balance sheet total
€12.4m
2024 · €6.9m+€5.4m
Largest movements
Assets
- Financial fixed assets +€5.5m
up €5.5m (+80.0%), from €6.8m to €12.3m
Equity and liabilities
- Debts after one year +€5.3m
up €5.3m (+177%), from €3.0m to €8.3m
Income statement
- Turnover +€89,036
up €89,036 (+41.2%), from €216,000 to €305,036
- Financial charges +€68,064
up €68,064 (+50.7%), from €134,219 to €202,283
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
€4,945
Turnover
+€89,036
Services and other goods
-€2,455
Depreciation
+€425
Other operating charges
-€556
Financial income
-€0
Financial charges
-€68,064
Taxes
-€2,612
Result 2025
€20,719
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
+€14,227
Investment
-€5.5m
Financing
+€5.4m
Cash 2024
€47,173
From operations (derived)
+€14,227
Net result for the year
+€20,719
Depreciation
+€373
Receivables within one year
-€33,973
Smaller working-capital items
+€1,687
Tax, wage and social debts
-€28,512
Other debts
+€111,682
Accrued charges and deferred income
-€57,750
Investment (derived)
-€5.5m
Investment in fixed assets (net)
-€5.5m
Financing
+€5.4m
Debts after one year
+€5.3m
Current portion of long-term debt
+€87,968
Cash 2025
€10,968
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,914,271 | €12,362,513 | +€5.4m | +78.8% |
| Fixed assets | 21/28 | €6,814,748 | €12,265,875 | +€5.5m | +80.0% |
| Tangible fixed assets | 22/27 | €373 | - | -€373 | |
| Furniture and vehicles | 24 | €373 | - | -€373 | |
| Financial fixed assets | 28 | €6,814,375 | €12,265,875 | +€5.5m | +80.0% |
| Affiliated companies | 280/1 | €6,814,375 | €12,265,875 | +€5.5m | +80.0% |
| Participating interests | 280 | €6,814,375 | €12,265,875 | +€5.5m | +80.0% |
| Current assets | 29/58 | €99,522 | €96,638 | -€2,884 | -2.9% |
| Amounts receivable within one year | 40/41 | €44,134 | €78,107 | +€33,973 | +77.0% |
| Trade receivables | 40 | €21,780 | €52,030 | +€30,250 | +139% |
| Other amounts receivable | 41 | €22,354 | €26,077 | +€3,723 | +16.7% |
| Cash at bank and in hand | 54/58 | €47,173 | €10,968 | -€36,205 | -76.7% |
| Deferred charges and accrued income | 490/1 | €8,215 | €7,564 | -€652 | -7.9% |
| Total equity and liabilities | 10/49 | €6,914,271 | €12,362,513 | +€5.4m | +78.8% |
| Equity | 10/15 | €3,164,650 | €3,185,370 | +€20,719 | +0.7% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €164,650 | €185,370 | +€20,719 | +12.6% |
| Distributable reserves | 133 | €164,650 | €185,370 | +€20,719 | +12.6% |
| Amounts payable | 17/49 | €3,749,620 | €9,177,143 | +€5.4m | +145% |
| Amounts payable after more than one year | 17 | €3,000,000 | €8,313,100 | +€5.3m | +177% |
| Other amounts payable | 178/9 | €3,000,000 | €8,313,100 | +€5.3m | +177% |
| Amounts payable within one year | 42/48 | €691,870 | €864,043 | +€172,173 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | - | €87,968 | +€87,968 | |
| Trade debts | 44 | €839 | €1,875 | +€1,036 | +123% |
| Suppliers | 440/4 | €839 | €1,875 | +€1,036 | +123% |
| Taxes, remuneration and social security | 45 | €50,247 | €21,735 | -€28,512 | -56.7% |
| Taxes | 450/3 | €50,247 | €21,735 | -€28,512 | -56.7% |
| Other amounts payable | 47/48 | €640,784 | €752,466 | +€111,682 | +17.4% |
| Accrued charges and deferred income | 492/3 | €57,750 | - | -€57,750 | |
| Operating income | 70/76A | €217,841 | €306,877 | +€89,036 | +40.9% |
| Turnover | 70 | €216,000 | €305,036 | +€89,036 | +41.2% |
| Other operating income | 74 | €1,841 | €1,841 | = | 0.0% |
| Operating charges | 60/66A | €75,012 | €77,598 | +€2,586 | +3.4% |
| Services and other goods | 61 | €73,128 | €75,583 | +€2,455 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €798 | €373 | -€425 | -53.2% |
| Other operating charges | 640/8 | €1,086 | €1,642 | +€556 | +51.2% |
| Operating profit (loss) | 9901 | €142,829 | €229,279 | +€86,450 | +60.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -52.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -52.4% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -52.4% |
| Financial charges | 65/66B | €134,219 | €202,283 | +€68,064 | +50.7% |
| Recurring financial charges | 65 | €134,219 | €202,283 | +€68,064 | +50.7% |
| Debt charges | 650 | €134,111 | €202,175 | +€68,064 | +50.8% |
| Other financial charges | 652/9 | €108 | €108 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €8,611 | €26,997 | +€18,386 | +214% |
| Income taxes | 67/77 | €3,665 | €6,277 | +€2,612 | +71.3% |
| Taxes | 670/3 | €3,665 | €6,277 | +€2,612 | +71.3% |
| Profit (loss) for the period | 9904 | €4,945 | €20,719 | +€15,774 | +319% |
| Profit (loss) for the period to be appropriated | 9905 | €4,945 | €20,719 | +€15,774 | +319% |
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 26 October 2026 via checked.be.