SELAND: 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.
SELAND
Largest movements
- Cash -€132,658
down €132,658 (-26.9%), from €492,366 to €359,708
mainly Contributions, distributions and other (-€150,000) and Current investments (-€100,000)
- Current investments +€100,000
up €100,000 (+1,961%), from €5,100 to €105,100
- Tangible fixed assets +€58,455
up €58,455 (+87.8%), from €66,592 to €125,047
of which Furniture and vehicles: +€53,189
- Deferred charges and accrued income +€10,700
up €10,700 (+325%), from €3,296 to €13,996
- Profit (loss) carried forward +€44,913
up €44,913 (+16.8%), from €266,926 to €311,839
- Tax, wage and social debts -€35,417
down €35,417 (-35.3%), from €100,223 to €64,806
of which Taxes: -€32,471
- Trade debts +€21,686
up €21,686 (+105%), from €20,662 to €42,348
- Other debts +€8,216
up €8,216 (+5.8%), from €141,287 to €149,503
- Accrued charges and deferred income -€7,500
no longer reported in 2025 (was €7,500)
- Gross operating margin +€49,222
up €49,222 (+14.0%), from €351,790 to €401,012
- Staff costs +€11,300
up €11,300 (+9.3%), from €121,069 to €132,369
- Taxes +€5,655
up €5,655 (+9.3%), from €60,856 to €66,511
- Financial income -€5,562
down €5,562 (-25.4%), from €21,918 to €16,356
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 | €647,058 | €678,956 | +€31,898 | +4.9% |
| Fixed assets | 21/28 | €107,436 | €165,891 | +€58,455 | +54.4% |
| Tangible fixed assets | 22/27 | €66,592 | €125,047 | +€58,455 | +87.8% |
| Plant, machinery and equipment | 23 | €3,213 | €2,246 | -€967 | -30.1% |
| Furniture and vehicles | 24 | €24,734 | €77,923 | +€53,189 | +215% |
| Other tangible fixed assets | 26 | €38,645 | €44,878 | +€6,233 | +16.1% |
| Financial fixed assets | 28 | €40,845 | €40,845 | = | 0.0% |
| Current assets | 29/58 | €539,622 | €513,065 | -€26,557 | -4.9% |
| Stocks and contracts in progress | 3 | €38,250 | €34,261 | -€3,990 | -10.4% |
| Stocks | 30/36 | €38,250 | €34,261 | -€3,990 | -10.4% |
| Amounts receivable within one year | 40/41 | €609 | - | -€609 | |
| Other amounts receivable | 41 | €609 | - | -€609 | |
| Current investments | 50/53 | €5,100 | €105,100 | +€100,000 | +1,961% |
| Cash at bank and in hand | 54/58 | €492,366 | €359,708 | -€132,658 | -26.9% |
| Deferred charges and accrued income | 490/1 | €3,296 | €13,996 | +€10,700 | +325% |
| Total equity and liabilities | 10/49 | €647,058 | €678,956 | +€31,898 | +4.9% |
| Equity | 10/15 | €377,386 | €422,299 | +€44,913 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,860 | €91,860 | = | 0.0% |
| Distributable reserves | 133 | €91,860 | €91,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €266,926 | €311,839 | +€44,913 | +16.8% |
| Amounts payable | 17/49 | €269,672 | €256,657 | -€13,015 | -4.8% |
| Amounts payable within one year | 42/48 | €262,172 | €256,657 | -€5,515 | -2.1% |
| Trade debts | 44 | €20,662 | €42,348 | +€21,686 | +105% |
| Suppliers | 440/4 | €20,662 | €42,348 | +€21,686 | +105% |
| Taxes, remuneration and social security | 45 | €100,223 | €64,806 | -€35,417 | -35.3% |
| Taxes | 450/3 | €79,519 | €47,048 | -€32,471 | -40.8% |
| Remuneration and social security | 454/9 | €20,704 | €17,758 | -€2,945 | -14.2% |
| Other amounts payable | 47/48 | €141,287 | €149,503 | +€8,216 | +5.8% |
| Accrued charges and deferred income | 492/3 | €7,500 | - | -€7,500 | |
| Non-recurring operating income | 76A | - | €11,466 | +€11,466 | |
| Remuneration, social security and pensions | 62 | €121,069 | €132,369 | +€11,300 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,298 | €15,933 | +€2,635 | +19.8% |
| Other operating charges | 640/8 | €1,117 | €2,656 | +€1,539 | +138% |
| Gross operating margin | 9900 | €351,790 | €401,012 | +€49,222 | +14.0% |
| Operating profit (loss) | 9901 | €216,307 | €250,054 | +€33,748 | +15.6% |
| Financial income | 75/76B | €21,918 | €16,356 | -€5,562 | -25.4% |
| Recurring financial income | 75 | €21,918 | €16,356 | -€5,562 | -25.4% |
| Financial charges | 65/66B | €3,766 | €4,986 | +€1,221 | +32.4% |
| Recurring financial charges | 65 | €3,766 | €4,986 | +€1,221 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €234,459 | €261,424 | +€26,965 | +11.5% |
| Income taxes | 67/77 | €60,856 | €66,511 | +€5,655 | +9.3% |
| Profit (loss) for the period | 9904 | €173,602 | €194,913 | +€21,310 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €173,602 | €194,913 | +€21,310 | +12.3% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.