SEL STUDIO: 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.
SEL STUDIO
Largest movements
- Receivables within one year +€42,957
up €42,957 (+825%), from €5,207 to €48,164
of which Other amounts receivable: +€22,300
- Cash -€7,924
down €7,924 (-98.5%), from €8,047 to €123
mainly Receivables within one year (-€42,957) and Accrued charges and deferred income (-€664)
- Tangible fixed assets -€596
down €596 (-12.6%), from €4,744 to €4,148
of which Plant, machinery and equipment: -€3,642
- Deferred charges and accrued income +€588
up €588 (+464%), from €127 to €715
- Profit (loss) carried forward +€13,320
up €13,320 (+303%), from €4,399 to €17,719
- Trade debts +€11,744
up €11,744 (+198%), from €5,925 to €17,670
- Tax, wage and social debts +€4,644
up €4,644 (+133%), from €3,500 to €8,144
- Advances received +€3,062
new in 2025: €3,062
- Other debts +€2,918
up €2,918 (+2,113%), from €138 to €3,056
- Gross operating margin +€10,760
up €10,760 (+106%), from €10,164 to €20,924
- Other operating charges +€1,699
up €1,699 (+742%), from €229 to €1,928
- Taxes +€1,477
up €1,477 (+41.0%), from €3,604 to €5,081
- Depreciation -€866
down €866 (-59.7%), from €1,450 to €584
- Financial charges -€617
down €617 (-75.8%), from €814 to €197
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 | €18,124 | €53,149 | +€35,025 | +193% |
| Fixed assets | 21/28 | €4,744 | €4,148 | -€596 | -12.6% |
| Tangible fixed assets | 22/27 | €4,744 | €4,148 | -€596 | -12.6% |
| Plant, machinery and equipment | 23 | €3,642 | €0 | -€3,642 | -100% |
| Furniture and vehicles | 24 | - | €4,148 | +€4,148 | |
| Other tangible fixed assets | 26 | €1,102 | €0 | -€1,102 | -100% |
| Current assets | 29/58 | €13,380 | €49,001 | +€35,621 | +266% |
| Amounts receivable within one year | 40/41 | €5,207 | €48,164 | +€42,957 | +825% |
| Trade receivables | 40 | €5,207 | €25,864 | +€20,658 | +397% |
| Other amounts receivable | 41 | - | €22,300 | +€22,300 | |
| Cash at bank and in hand | 54/58 | €8,047 | €123 | -€7,924 | -98.5% |
| Deferred charges and accrued income | 490/1 | €127 | €715 | +€588 | +464% |
| Total equity and liabilities | 10/49 | €18,124 | €53,149 | +€35,025 | +193% |
| Equity | 10/15 | €7,699 | €21,019 | +€13,320 | +173% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €4,399 | €17,719 | +€13,320 | +303% |
| Amounts payable | 17/49 | €10,425 | €32,130 | +€21,705 | +208% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,563 | €31,932 | +€22,369 | +234% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,925 | €17,670 | +€11,744 | +198% |
| Suppliers | 440/4 | €5,925 | €17,670 | +€11,744 | +198% |
| Advances received on contracts in progress | 46 | - | €3,062 | +€3,062 | |
| Taxes, remuneration and social security | 45 | €3,500 | €8,144 | +€4,644 | +133% |
| Taxes | 450/3 | €3,500 | €8,144 | +€4,644 | +133% |
| Other amounts payable | 47/48 | €138 | €3,056 | +€2,918 | +2,113% |
| Accrued charges and deferred income | 492/3 | €862 | €198 | -€664 | -77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,450 | €584 | -€866 | -59.7% |
| Other operating charges | 640/8 | €229 | €1,928 | +€1,699 | +742% |
| Gross operating margin | 9900 | €10,164 | €20,924 | +€10,760 | +106% |
| Operating profit (loss) | 9901 | €8,484 | €18,411 | +€9,927 | +117% |
| Financial income | 75/76B | €332 | €187 | -€145 | -43.7% |
| Recurring financial income | 75 | €332 | €187 | -€145 | -43.7% |
| Financial charges | 65/66B | €814 | €197 | -€617 | -75.8% |
| Recurring financial charges | 65 | €814 | €197 | -€617 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €8,002 | €18,401 | +€10,399 | +130% |
| Income taxes | 67/77 | €3,604 | €5,081 | +€1,477 | +41.0% |
| Profit (loss) for the period | 9904 | €4,399 | €13,320 | +€8,921 | +203% |
| Profit (loss) for the period to be appropriated | 9905 | €4,399 | €13,320 | +€8,921 | +203% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.