SELAÏ: 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.
SELAÏ
Largest movements
- Cash +€8,891
up €8,891 (+3.4%), from €257,888 to €266,779
mainly Other debts (+€257,210) and Tax, wage and social debts (+€14,141)
- Tangible fixed assets -€5,540
down €5,540 (-31.2%), from €17,728 to €12,188
of which Furniture and vehicles: -€4,004
- Reserves -€275,091
no longer reported in 2025 (was €275,091)
- Other debts +€257,210
new in 2025: €257,210
- Tax, wage and social debts +€14,141
up €14,141 (+378.1%), from €3,740 to €17,881
- Profit (loss) carried forward +€11,004
up €11,004 (+91.0%), from €12,097 to €23,101
- Gross operating margin +€6,249
up €6,249 (+35.7%), from €17,526 to €23,775
- Taxes +€1,269
up €1,269 (+36.6%), from €3,463 to €4,732
- Depreciation -€466
down €466 (-6.3%), from €7,429 to €6,963
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 | €301,400 | €306,449 | +€5,048 | +1.7% |
| Formation expenses | 20 | €479 | €239 | -€239 | -50.0% |
| Fixed assets | 21/28 | €17,728 | €12,188 | -€5,540 | -31.2% |
| Tangible fixed assets | 22/27 | €17,728 | €12,188 | -€5,540 | -31.2% |
| Plant, machinery and equipment | 23 | €11,262 | €9,727 | -€1,536 | -13.6% |
| Furniture and vehicles | 24 | €6,466 | €2,462 | -€4,004 | -61.9% |
| Current assets | 29/58 | €283,193 | €294,021 | +€10,828 | +3.8% |
| Amounts receivable within one year | 40/41 | €25,306 | €27,242 | +€1,936 | +7.7% |
| Trade receivables | 40 | €6,406 | €6,428 | +€23 | +0.4% |
| Other amounts receivable | 41 | €18,900 | €20,814 | +€1,914 | +10.1% |
| Cash at bank and in hand | 54/58 | €257,888 | €266,779 | +€8,891 | +3.4% |
| Total equity and liabilities | 10/49 | €301,400 | €306,449 | +€5,048 | +1.7% |
| Equity | 10/15 | €290,188 | €26,101 | -€264,087 | -91.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €275,091 | - | -€275,091 | |
| Distributable reserves | 133 | €275,091 | - | -€275,091 | |
| Profit (loss) carried forward | 14 | €12,097 | €23,101 | +€11,004 | +91.0% |
| Amounts payable | 17/49 | €11,212 | €280,348 | +€269,136 | +2400.4% |
| Amounts payable within one year | 42/48 | €11,212 | €280,348 | +€269,136 | +2400.4% |
| Trade debts | 44 | €7,472 | €5,257 | -€2,215 | -29.6% |
| Suppliers | 440/4 | €7,472 | €5,257 | -€2,215 | -29.6% |
| Taxes, remuneration and social security | 45 | €3,740 | €17,881 | +€14,141 | +378.1% |
| Taxes | 450/3 | €3,740 | €17,881 | +€14,141 | +378.1% |
| Other amounts payable | 47/48 | - | €257,210 | +€257,210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,429 | €6,963 | -€466 | -6.3% |
| Other operating charges | 640/8 | €438 | €629 | +€192 | +43.8% |
| Gross operating margin | 9900 | €17,526 | €23,775 | +€6,249 | +35.7% |
| Operating profit (loss) | 9901 | €9,659 | €16,182 | +€6,523 | +67.5% |
| Financial charges | 65/66B | €434 | €447 | +€13 | +3.0% |
| Recurring financial charges | 65 | €434 | €447 | +€13 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €9,225 | €15,736 | +€6,510 | +70.6% |
| Income taxes | 67/77 | €3,463 | €4,732 | +€1,269 | +36.6% |
| Profit (loss) for the period | 9904 | €5,763 | €11,004 | +€5,241 | +91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,763 | €11,004 | +€5,241 | +91.0% |
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 1 October 2026 via checked.be.