SEL REAL ESTATES: 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.
SEL REAL ESTATES
Largest movements
- Tangible fixed assets -€740
down €740 (-2.6%), from €28,660 to €27,920
- Profit (loss) carried forward -€1,108
down €1,108 (-15.8%), from -€7,020 to -€8,128
- Trade debts +€784
up €784 (+31.9%), from €2,457 to €3,241
- Other debts -€586
down €586 (-2.0%), from €29,307 to €28,721
- Gross operating margin -€2,595
down €2,595 (-92.0%), from €2,820 to €226
- Other operating charges -€151
down €151 (-26.3%), from €575 to €424
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 | €29,744 | €28,834 | -€910 | -3.1% |
| Fixed assets | 21/28 | €29,379 | €28,639 | -€740 | -2.5% |
| Intangible fixed assets | 21 | €719 | €719 | = | 0.0% |
| Tangible fixed assets | 22/27 | €28,660 | €27,920 | -€740 | -2.6% |
| Land and buildings | 22 | €28,660 | €27,920 | -€740 | -2.6% |
| Current assets | 29/58 | €366 | €195 | -€170 | -46.6% |
| Cash at bank and in hand | 54/58 | €366 | €195 | -€170 | -46.6% |
| Total equity and liabilities | 10/49 | €29,744 | €28,834 | -€910 | -3.1% |
| Equity | 10/15 | -€2,020 | -€3,128 | -€1,108 | -54.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,020 | -€8,128 | -€1,108 | -15.8% |
| Amounts payable | 17/49 | €31,764 | €31,962 | +€198 | +0.6% |
| Amounts payable within one year | 42/48 | €31,764 | €31,962 | +€198 | +0.6% |
| Trade debts | 44 | €2,457 | €3,241 | +€784 | +31.9% |
| Suppliers | 440/4 | €2,457 | €3,241 | +€784 | +31.9% |
| Other amounts payable | 47/48 | €29,307 | €28,721 | -€586 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €739 | €740 | +€1 | +0.1% |
| Other operating charges | 640/8 | €575 | €424 | -€151 | -26.3% |
| Gross operating margin | 9900 | €2,820 | €226 | -€2,595 | -92.0% |
| Operating profit (loss) | 9901 | €1,507 | -€938 | -€2,445 | |
| Financial charges | 65/66B | €153 | €170 | +€17 | +11.1% |
| Recurring financial charges | 65 | €153 | €170 | +€17 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €1,353 | -€1,108 | -€2,462 | |
| Profit (loss) for the period | 9904 | €1,353 | -€1,108 | -€2,462 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,353 | -€1,108 | -€2,462 |
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 8 October 2026 via checked.be.