SALUC: 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.
What changed
SALUC
NACE 32.400, Other manufacturing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.0m
2024 · €5.8m-€1.8m
Equity
€10.2m
2024 · €9.5m+€716,018
Cash
€5.8m
2024 · €6.0m-€225,405
Balance sheet total
€21.2m
2024 · €23.6m-€2.4m
Largest movements
Assets
- Current investments -€1.5m
down €1.5m (-97.1%), from €1.5m to €43,819
- Stocks and contracts -€535,727
down €535,727 (-5.6%), from €9.5m to €9.0m
Equity and liabilities
- Trade debts -€1.1m
down €1.1m (-33.3%), from €3.2m to €2.1m
- Other debts -€998,825
down €998,825 (-23.5%), from €4.2m to €3.3m
- Profit (loss) carried forward +€716,018
up €716,018 (+53.1%), from €1.3m to €2.1m
- Debts after one year -€700,000
down €700,000 (-26.7%), from €2.6m to €1.9m
- Current portion of long-term debt +€504,564
up €504,564 (+72.1%), from €700,000 to €1.2m
Income statement
- Staff costs +€1.1m
up €1.1m (+10.4%), from €10.9m to €12.0m
- Financial charges +€677,145
up €677,145, from -€176,601 to €500,544
- Taxes -€645,348
down €645,348 (-32.5%), from €2.0m to €1.3m
of which Taxes: -€649,191
- Turnover +€610,763
up €610,763 (+2.0%), from €31.3m to €31.9m
- Goods and materials +€579,212
up €579,212 (+12.7%), from €4.6m to €5.1m
of which Purchases: +€525,479
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
€5.8m
Turnover
+€610,763
Other operating income
+€77,347
Goods and materials
-€579,212
Services and other goods
+€17,592
Staff costs
-€1.1m
Depreciation
-€30,547
Write-downs
-€429,229
Provisions
+€5,437
Other operating charges
-€17,653
Other operating items
-€247,279
Financial income
-€85,669
Financial charges
-€677,145
Taxes
+€645,348
Result 2025
€4.0m
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.
From operations
+€2.2m
Investment
+€982,917
Financing
-€3.4m
Cash 2024
€6.0m
From operations (derived)
+€2.2m
Net result for the year
+€4.0m
Depreciation
+€595,896
Stocks and contracts
+€535,727
Receivables within one year
+€37,279
Deferred charges and accrued income
+€38,488
Provisions
-€1,508
Trade debts
-€1.1m
Tax, wage and social debts
+€58,952
Advances received
-€494,128
Other debts
-€998,825
Accrued charges and deferred income
-€450,434
Investment (derived)
+€982,917
Investment in fixed assets (net)
-€501,377
Current investments
+€1.5m
Financing
-€3.4m
Debts after one year
-€700,000
Current portion of long-term debt
+€504,564
Contributions, distributions and other
-€3.3m
Cash 2025
€5.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,567,338 | €21,151,626 | -€2.4m | -10.3% |
| Fixed assets | 21/28 | €1,167,908 | €1,073,390 | -€94,518 | -8.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,152,132 | €1,057,613 | -€94,518 | -8.2% |
| Land and buildings | 22 | €239,643 | €281,726 | +€42,083 | +17.6% |
| Plant, machinery and equipment | 23 | €146,276 | €462,841 | +€316,564 | +216.4% |
| Furniture and vehicles | 24 | €107,623 | €108,706 | +€1,083 | +1.0% |
| Assets under construction and advance payments | 27 | €658,589 | €204,340 | -€454,249 | -69.0% |
| Financial fixed assets | 28 | €15,777 | €15,777 | = | 0.0% |
| Other financial fixed assets | 284/8 | €15,777 | €15,777 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €15,777 | €15,777 | = | 0.0% |
| Current assets | 29/58 | €22,399,430 | €20,078,237 | -€2.3m | -10.4% |
| Stocks and contracts in progress | 3 | €9,532,699 | €8,996,971 | -€535,727 | -5.6% |
| Stocks | 30/36 | €9,532,699 | €8,996,971 | -€535,727 | -5.6% |
| Raw materials and consumables | 30/31 | €3,439,652 | €2,772,696 | -€666,956 | -19.4% |
| Work in progress | 32 | €2,779,704 | €2,859,958 | +€80,255 | +2.9% |
| Finished goods | 33 | €2,918,604 | €3,137,093 | +€218,488 | +7.5% |
| Goods purchased for resale | 34 | €394,739 | €227,224 | -€167,514 | -42.4% |
| Amounts receivable within one year | 40/41 | €5,202,777 | €5,165,498 | -€37,279 | -0.7% |
| Trade receivables | 40 | €4,574,341 | €4,080,348 | -€493,994 | -10.8% |
| Other amounts receivable | 41 | €628,436 | €1,085,150 | +€456,714 | +72.7% |
| Current investments | 50/53 | €1,528,113 | €43,819 | -€1.5m | -97.1% |
| Other investments | 51/53 | €1,528,113 | €43,819 | -€1.5m | -97.1% |
| Cash at bank and in hand | 54/58 | €6,003,814 | €5,778,410 | -€225,405 | -3.8% |
| Deferred charges and accrued income | 490/1 | €132,027 | €93,539 | -€38,488 | -29.2% |
| Total equity and liabilities | 10/49 | €23,567,338 | €21,151,626 | -€2.4m | -10.3% |
| Equity | 10/15 | €9,517,527 | €10,233,545 | +€716,018 | +7.5% |
| Contributions | 10/11 | €1,682,181 | €1,682,181 | = | 0.0% |
| Capital | 10 | €1,682,181 | €1,682,181 | = | 0.0% |
| Issued capital | 100 | €1,682,181 | €1,682,181 | = | 0.0% |
| Reserves | 13 | €6,487,201 | €6,487,201 | = | 0.0% |
| Non-distributable reserves | 130/1 | €168,230 | €168,230 | = | 0.0% |
| Legal reserve | 130 | €168,218 | €168,218 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12 | €12 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,568,100 | €1,726,100 | -€842,000 | -32.8% |
| Distributable reserves | 133 | €3,750,871 | €4,592,871 | +€842,000 | +22.4% |
| Profit (loss) carried forward | 14 | €1,348,145 | €2,064,164 | +€716,018 | +53.1% |
| Provisions and deferred taxes | 16 | €22,435 | €20,927 | -€1,508 | -6.7% |
| Provisions for liabilities and charges | 160/5 | €22,435 | €20,927 | -€1,508 | -6.7% |
| Pensions and similar obligations | 160 | €22,435 | €20,927 | -€1,508 | -6.7% |
| Amounts payable | 17/49 | €14,027,376 | €10,897,154 | -€3.1m | -22.3% |
| Amounts payable after more than one year | 17 | €2,625,000 | €1,925,000 | -€700,000 | -26.7% |
| Financial debts | 170/4 | €2,625,000 | €1,925,000 | -€700,000 | -26.7% |
| Credit institutions | 173 | €2,625,000 | €1,925,000 | -€700,000 | -26.7% |
| Amounts payable within one year | 42/48 | €10,945,799 | €8,966,012 | -€2.0m | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €700,000 | €1,204,564 | +€504,564 | +72.1% |
| Trade debts | 44 | €3,157,985 | €2,107,634 | -€1.1m | -33.3% |
| Suppliers | 440/4 | €3,157,985 | €2,107,634 | -€1.1m | -33.3% |
| Advances received on contracts in progress | 46 | €837,707 | €343,579 | -€494,128 | -59.0% |
| Taxes, remuneration and social security | 45 | €2,001,282 | €2,060,234 | +€58,952 | +2.9% |
| Taxes | 450/3 | €335,065 | €412,141 | +€77,076 | +23.0% |
| Remuneration and social security | 454/9 | €1,666,217 | €1,648,093 | -€18,124 | -1.1% |
| Other amounts payable | 47/48 | €4,248,825 | €3,250,000 | -€998,825 | -23.5% |
| Accrued charges and deferred income | 492/3 | €456,577 | €6,143 | -€450,434 | -98.7% |
| Operating income | 70/76A | €33,501,673 | €33,942,504 | +€440,832 | +1.3% |
| Turnover | 70 | €31,294,800 | €31,905,564 | +€610,763 | +2.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €634,101 | €298,743 | -€335,358 | -52.9% |
| Own construction capitalised | 72 | €371,502 | €459,580 | +€88,079 | +23.7% |
| Other operating income | 74 | €1,201,270 | €1,278,618 | +€77,347 | +6.4% |
| Operating charges | 60/66A | €26,182,454 | €28,343,786 | +€2.2m | +8.3% |
| Goods for resale, raw materials and consumables | 60 | €4,567,046 | €5,146,258 | +€579,212 | +12.7% |
| Purchases | 600/8 | €4,215,538 | €4,741,017 | +€525,479 | +12.5% |
| Change in stocks: decrease (increase) | 609 | €351,508 | €405,241 | +€53,734 | +15.3% |
| Services and other goods | 61 | €10,144,979 | €10,127,386 | -€17,592 | -0.2% |
| Remuneration, social security and pensions | 62 | €10,853,372 | €11,981,092 | +€1.1m | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €565,349 | €595,896 | +€30,547 | +5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €429,229 | +€429,229 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,929 | -€1,508 | -€5,437 | |
| Other operating charges | 640/8 | €47,780 | €65,433 | +€17,653 | +36.9% |
| Operating profit (loss) | 9901 | €7,319,219 | €5,598,718 | -€1.7m | -23.5% |
| Financial income | 75/76B | €291,530 | €205,861 | -€85,669 | -29.4% |
| Recurring financial income | 75 | €291,530 | €186,853 | -€104,677 | -35.9% |
| Income from financial fixed assets | 750 | - | €11,342 | +€11,342 | |
| Income from current assets | 751 | €19,839 | €28,950 | +€9,111 | +45.9% |
| Other financial income | 752/9 | €271,692 | €146,561 | -€125,131 | -46.1% |
| Non-recurring financial income | 76B | - | €19,008 | +€19,008 | |
| Financial charges | 65/66B | -€176,601 | €500,544 | +€677,145 | |
| Recurring financial charges | 65 | -€176,601 | €500,544 | +€677,145 | |
| Debt charges | 650 | €51,464 | €62,165 | +€10,700 | +20.8% |
| Other financial charges | 652/9 | -€228,065 | €438,379 | +€666,445 | |
| Profit (loss) for the period before taxes | 9903 | €7,787,350 | €5,304,036 | -€2.5m | -31.9% |
| Income taxes | 67/77 | €1,983,366 | €1,338,017 | -€645,348 | -32.5% |
| Taxes | 670/3 | €2,008,897 | €1,359,707 | -€649,191 | -32.3% |
| Tax adjustments and reversals of tax provisions | 77 | €25,532 | €21,689 | -€3,843 | -15.1% |
| Profit (loss) for the period | 9904 | €5,803,985 | €3,966,018 | -€1.8m | -31.7% |
| Transfer from tax-exempt reserves | 789 | €652,550 | €842,000 | +€189,450 | +29.0% |
| Transfer to tax-exempt reserves | 689 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,035,535 | €4,808,018 | -€1.2m | -20.3% |
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 7 October 2026 via checked.be.