SEARCH AND SELECTION BRUSSEL: 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.
SEARCH AND SELECTION BRUSSEL
Largest movements
- Receivables within one year +€608,650
up €608,650 (+51.0%), from €1.2m to €1.8m
of which Other amounts receivable: +€744,736
- Cash +€68,242
up €68,242 (+111%), from €61,717 to €129,959
mainly Other debts (+€628,971) and Trade debts (+€49,294)
- Other debts +€628,971
up €628,971 (+62.7%), from €1.0m to €1.6m
- Trade debts +€49,294
up €49,294 (+73.0%), from €67,550 to €116,843
- Accrued charges and deferred income -€28,221
down €28,221 (-100%), from €28,221 to €0
- Gross operating margin -€40,921
down €40,921 (-24.6%), from €166,227 to €125,306
- Staff costs -€36,795
down €36,795 (-23.9%), from €153,686 to €116,891
- Depreciation +€2,899
up €2,899 (+131%), from €2,210 to €5,109
- Taxes -€2,057
down €2,057 (-52.2%), from €3,937 to €1,880
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 | €1,363,752 | €2,020,878 | +€657,126 | +48.2% |
| Fixed assets | 21/28 | €30,051 | €24,942 | -€5,109 | -17.0% |
| Tangible fixed assets | 22/27 | €22,377 | €17,268 | -€5,109 | -22.8% |
| Land and buildings | 22 | €6,138 | €4,849 | -€1,290 | -21.0% |
| Plant, machinery and equipment | 23 | €1,608 | €966 | -€641 | -39.9% |
| Furniture and vehicles | 24 | €14,631 | €11,453 | -€3,178 | -21.7% |
| Financial fixed assets | 28 | €7,674 | €7,674 | = | 0.0% |
| Current assets | 29/58 | €1,333,701 | €1,995,936 | +€662,235 | +49.7% |
| Amounts receivable within one year | 40/41 | €1,192,763 | €1,801,413 | +€608,650 | +51.0% |
| Trade receivables | 40 | €536,823 | €400,737 | -€136,086 | -25.4% |
| Other amounts receivable | 41 | €655,940 | €1,400,676 | +€744,736 | +114% |
| Current investments | 50/53 | €78,703 | €64,035 | -€14,668 | -18.6% |
| Cash at bank and in hand | 54/58 | €61,717 | €129,959 | +€68,242 | +111% |
| Deferred charges and accrued income | 490/1 | €518 | €529 | +€11 | +2.2% |
| Total equity and liabilities | 10/49 | €1,363,752 | €2,020,878 | +€657,126 | +48.2% |
| Equity | 10/15 | €231,794 | €231,794 | = | 0.0% |
| Contributions | 10/11 | €141,203 | €141,203 | = | 0.0% |
| Reserves | 13 | €69,039 | €69,039 | = | 0.0% |
| Distributable reserves | 133 | €69,039 | €69,039 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,552 | €21,552 | = | 0.0% |
| Amounts payable | 17/49 | €1,131,958 | €1,789,083 | +€657,126 | +58.1% |
| Amounts payable within one year | 42/48 | €1,103,737 | €1,789,083 | +€685,347 | +62.1% |
| Trade debts | 44 | €67,550 | €116,843 | +€49,294 | +73.0% |
| Suppliers | 440/4 | €67,550 | €116,843 | +€49,294 | +73.0% |
| Taxes, remuneration and social security | 45 | €33,221 | €40,303 | +€7,082 | +21.3% |
| Taxes | 450/3 | €32,993 | €39,741 | +€6,748 | +20.5% |
| Remuneration and social security | 454/9 | €228 | €563 | +€334 | +146% |
| Other amounts payable | 47/48 | €1,002,966 | €1,631,937 | +€628,971 | +62.7% |
| Accrued charges and deferred income | 492/3 | €28,221 | €0 | -€28,221 | -100% |
| Non-recurring operating income | 76A | €10,565 | €0 | -€10,565 | -100% |
| Remuneration, social security and pensions | 62 | €153,686 | €116,891 | -€36,795 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,210 | €5,109 | +€2,899 | +131% |
| Other operating charges | 640/8 | €719 | €455 | -€265 | -36.8% |
| Gross operating margin | 9900 | €166,227 | €125,306 | -€40,921 | -24.6% |
| Operating profit (loss) | 9901 | €9,612 | €2,852 | -€6,760 | -70.3% |
| Financial income | 75/76B | €9 | €0 | -€9 | -100% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100% |
| Financial charges | 65/66B | €912 | €971 | +€59 | +6.5% |
| Recurring financial charges | 65 | €912 | €971 | +€59 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €8,709 | €1,880 | -€6,828 | -78.4% |
| Income taxes | 67/77 | €3,937 | €1,880 | -€2,057 | -52.2% |
| Profit (loss) for the period | 9904 | €4,772 | €0 | -€4,772 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €4,772 | €0 | -€4,772 | -100% |
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 23 October 2026 via checked.be.