Sela: 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.
Sela
Largest movements
- Cash +€3,439
up €3,439 (+13.9%), from €24,729 to €28,168
mainly Net result for the year (+€12,945) and Tax, wage and social debts (+€4,357)
- Stocks and contracts -€3,171
down €3,171 (-25.8%), from €12,297 to €9,125
- Receivables within one year +€2,699
up €2,699 (+56.6%), from €4,767 to €7,466
of which Trade receivables: +€2,133
- Tangible fixed assets -€1,936
down €1,936 (-44.1%), from €4,391 to €2,455
of which Furniture and vehicles: -€1,854
- Contributions -€13,600
down €13,600 (-73.1%), from €18,600 to €5,000
- Profit (loss) carried forward +€12,688
up €12,688, from -€12,688 to €0
- Tax, wage and social debts +€4,357
up €4,357 (+321%), from €1,358 to €5,715
- Debts after one year -€3,440
down €3,440 (-74.4%), from €4,624 to €1,184
- Current portion of long-term debt -€2,703
down €2,703 (-44.0%), from €6,143 to €3,440
- Gross operating margin +€10,981
up €10,981 (+83.9%), from €13,092 to €24,073
- Taxes +€4,222
up €4,222 (+311%), from €1,358 to €5,580
- Depreciation -€1,093
down €1,093 (-21.8%), from €5,012 to €3,919
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 | €46,577 | €47,497 | +€920 | +2.0% |
| Fixed assets | 21/28 | €4,391 | €2,455 | -€1,936 | -44.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,391 | €2,455 | -€1,936 | -44.1% |
| Plant, machinery and equipment | 23 | €217 | €135 | -€82 | -37.9% |
| Furniture and vehicles | 24 | €4,174 | €2,320 | -€1,854 | -44.4% |
| Current assets | 29/58 | €42,185 | €45,042 | +€2,857 | +6.8% |
| Stocks and contracts in progress | 3 | €12,297 | €9,125 | -€3,171 | -25.8% |
| Stocks | 30/36 | €12,297 | €9,125 | -€3,171 | -25.8% |
| Amounts receivable within one year | 40/41 | €4,767 | €7,466 | +€2,699 | +56.6% |
| Trade receivables | 40 | €4,259 | €6,392 | +€2,133 | +50.1% |
| Other amounts receivable | 41 | €508 | €1,074 | +€566 | +111% |
| Cash at bank and in hand | 54/58 | €24,729 | €28,168 | +€3,439 | +13.9% |
| Deferred charges and accrued income | 490/1 | €393 | €282 | -€110 | -28.1% |
| Total equity and liabilities | 10/49 | €46,577 | €47,497 | +€920 | +2.0% |
| Equity | 10/15 | €32,695 | €32,039 | -€655 | -2.0% |
| Contributions | 10/11 | €18,600 | €5,000 | -€13,600 | -73.1% |
| Reserves | 13 | €26,783 | €27,039 | +€257 | +1.0% |
| Distributable reserves | 133 | €26,783 | €27,039 | +€257 | +1.0% |
| Profit (loss) carried forward | 14 | -€12,688 | €0 | +€12,688 | |
| Amounts payable | 17/49 | €13,882 | €15,458 | +€1,576 | +11.4% |
| Amounts payable after more than one year | 17 | €4,624 | €1,184 | -€3,440 | -74.4% |
| Financial debts | 170/4 | €4,624 | €1,184 | -€3,440 | -74.4% |
| Amounts payable within one year | 42/48 | €9,257 | €14,273 | +€5,016 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €6,143 | €3,440 | -€2,703 | -44.0% |
| Financial debts | 43 | €14 | €130 | +€116 | +820% |
| Credit institutions | 430/8 | €14 | €130 | +€116 | +820% |
| Trade debts | 44 | €1,742 | €4,291 | +€2,549 | +146% |
| Suppliers | 440/4 | €1,742 | €4,291 | +€2,549 | +146% |
| Taxes, remuneration and social security | 45 | €1,358 | €5,715 | +€4,357 | +321% |
| Taxes | 450/3 | €1,358 | €5,715 | +€4,357 | +321% |
| Other amounts payable | 47/48 | - | €697 | +€697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,012 | €3,919 | -€1,093 | -21.8% |
| Other operating charges | 640/8 | €722 | €631 | -€91 | -12.5% |
| Non-recurring operating charges | 66A | €4,783 | €0 | -€4,783 | -100% |
| Gross operating margin | 9900 | €13,092 | €24,073 | +€10,981 | +83.9% |
| Operating profit (loss) | 9901 | €2,575 | €19,523 | +€16,947 | +658% |
| Financial income | 75/76B | €48 | €0 | -€48 | -100% |
| Recurring financial income | 75 | €48 | €0 | -€48 | -100% |
| Financial charges | 65/66B | €987 | €998 | +€11 | +1.1% |
| Recurring financial charges | 65 | €987 | €998 | +€11 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €1,637 | €18,525 | +€16,888 | +1,032% |
| Income taxes | 67/77 | €1,358 | €5,580 | +€4,222 | +311% |
| Profit (loss) for the period | 9904 | €279 | €12,945 | +€12,666 | +4,547% |
| Profit (loss) for the period to be appropriated | 9905 | €279 | €12,945 | +€12,666 | +4,547% |
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 14 October 2026 via checked.be.