Selas & Partners: 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.
Selas & Partners
Largest movements
- Cash +€35,434
up €35,434 (+270%), from €13,112 to €48,546
mainly Receivables within one year (+€19,945) and Tax, wage and social debts (+€5,861)
- Receivables within one year -€19,945
down €19,945 (-22.4%), from €88,902 to €68,957
of which Trade receivables: -€19,945
- Tax, wage and social debts +€5,861
up €5,861 (+32.4%), from €18,115 to €23,976
- Reserves +€5,167
up €5,167 (+80.5%), from €6,419 to €11,587
- Trade debts +€4,848
up €4,848 (+10.0%), from €48,615 to €53,464
- Write-downs +€114,540
new in 2025: €114,540
- Gross operating margin +€108,954
up €108,954 (+813%), from €13,406 to €122,360
- Other operating charges -€4,334
down €4,334 (-90.4%), from €4,795 to €462
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 | €102,014 | €117,503 | +€15,489 | +15.2% |
| Current assets | 29/58 | €102,014 | €117,503 | +€15,489 | +15.2% |
| Amounts receivable within one year | 40/41 | €88,902 | €68,957 | -€19,945 | -22.4% |
| Trade receivables | 40 | €71,402 | €51,457 | -€19,945 | -27.9% |
| Other amounts receivable | 41 | €17,500 | €17,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,112 | €48,546 | +€35,434 | +270% |
| Total equity and liabilities | 10/49 | €102,014 | €117,503 | +€15,489 | +15.2% |
| Equity | 10/15 | €21,419 | €26,587 | +€5,167 | +24.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €6,419 | €11,587 | +€5,167 | +80.5% |
| Distributable reserves | 133 | €6,419 | €11,587 | +€5,167 | +80.5% |
| Amounts payable | 17/49 | €80,594 | €90,916 | +€10,322 | +12.8% |
| Amounts payable within one year | 42/48 | €80,145 | €90,854 | +€10,709 | +13.4% |
| Trade debts | 44 | €48,615 | €53,464 | +€4,848 | +10.0% |
| Suppliers | 440/4 | €48,615 | €53,464 | +€4,848 | +10.0% |
| Taxes, remuneration and social security | 45 | €18,115 | €23,976 | +€5,861 | +32.4% |
| Taxes | 450/3 | €18,115 | €23,976 | +€5,861 | +32.4% |
| Other amounts payable | 47/48 | €13,414 | €13,414 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €449 | €62 | -€387 | -86.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €114,540 | +€114,540 | |
| Other operating charges | 640/8 | €4,795 | €462 | -€4,334 | -90.4% |
| Gross operating margin | 9900 | €13,406 | €122,360 | +€108,954 | +813% |
| Operating profit (loss) | 9901 | €8,611 | €7,359 | -€1,252 | -14.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €52 | €246 | +€195 | +378% |
| Recurring financial charges | 65 | €52 | €246 | +€195 | +378% |
| Profit (loss) for the period before taxes | 9903 | €8,559 | €7,113 | -€1,447 | -16.9% |
| Income taxes | 67/77 | €2,140 | €1,945 | -€194 | -9.1% |
| Profit (loss) for the period | 9904 | €6,419 | €5,167 | -€1,252 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,419 | €5,167 | -€1,252 | -19.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.