Select-Beopledd: 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.
Select-Beopledd
Largest movements
- Receivables within one year +€215,305
up €215,305 (+74.7%), from €288,396 to €503,701
of which Trade receivables: +€141,933
- Intangible fixed assets -€106,039
down €106,039 (-29.3%), from €361,669 to €255,629
- Cash -€15,568
down €15,568 (-60.3%), from €25,815 to €10,247
mainly Receivables within one year (-€215,305) and Net result for the year (-€6,430)
- Tax, wage and social debts +€40,888
up €40,888 (+34.1%), from €119,804 to €160,692
of which Remuneration and social security: +€37,098
- Trade debts +€27,900
up €27,900 (+20.8%), from €133,954 to €161,855
- Advances received +€15,238
up €15,238 (+10.8%), from €140,675 to €155,913
- Accrued charges and deferred income +€12,306
up €12,306 (+70.4%), from €17,484 to €29,790
- Gross operating margin +€170,806
up €170,806 (+26.8%), from €637,422 to €808,228
- Staff costs +€27,671
up €27,671 (+4.2%), from €656,235 to €683,906
- Financial income -€10,975
down €10,975 (-81.7%), from €13,440 to €2,465
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 | €734,142 | €827,143 | +€93,002 | +12.7% |
| Formation expenses | 20 | €1,612 | €1,140 | -€472 | -29.3% |
| Fixed assets | 21/28 | €369,597 | €264,521 | -€105,076 | -28.4% |
| Intangible fixed assets | 21 | €361,669 | €255,629 | -€106,039 | -29.3% |
| Tangible fixed assets | 22/27 | €4,148 | €3,181 | -€967 | -23.3% |
| Plant, machinery and equipment | 23 | €863 | €654 | -€209 | -24.2% |
| Other tangible fixed assets | 26 | €3,285 | €2,527 | -€758 | -23.1% |
| Financial fixed assets | 28 | €3,780 | €5,711 | +€1,931 | +51.1% |
| Current assets | 29/58 | €362,933 | €561,482 | +€198,549 | +54.7% |
| Amounts receivable within one year | 40/41 | €288,396 | €503,701 | +€215,305 | +74.7% |
| Trade receivables | 40 | €157,792 | €299,726 | +€141,933 | +89.9% |
| Other amounts receivable | 41 | €130,603 | €203,975 | +€73,371 | +56.2% |
| Cash at bank and in hand | 54/58 | €25,815 | €10,247 | -€15,568 | -60.3% |
| Deferred charges and accrued income | 490/1 | €48,722 | €47,535 | -€1,188 | -2.4% |
| Total equity and liabilities | 10/49 | €734,142 | €827,143 | +€93,002 | +12.7% |
| Equity | 10/15 | €150,215 | €143,785 | -€6,430 | -4.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €7,217 | €7,217 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,217 | €7,217 | = | 0.0% |
| Legal reserve | 130 | €7,217 | €7,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,002 | -€13,432 | -€6,430 | -91.8% |
| Amounts payable | 17/49 | €583,926 | €683,358 | +€99,432 | +17.0% |
| Amounts payable within one year | 42/48 | €566,443 | €653,569 | +€87,126 | +15.4% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €133,954 | €161,855 | +€27,900 | +20.8% |
| Suppliers | 440/4 | €133,954 | €161,855 | +€27,900 | +20.8% |
| Advances received on contracts in progress | 46 | €140,675 | €155,913 | +€15,238 | +10.8% |
| Taxes, remuneration and social security | 45 | €119,804 | €160,692 | +€40,888 | +34.1% |
| Taxes | 450/3 | €43,479 | €47,268 | +€3,789 | +8.7% |
| Remuneration and social security | 454/9 | €76,325 | €113,424 | +€37,098 | +48.6% |
| Other amounts payable | 47/48 | €22,009 | €25,109 | +€3,100 | +14.1% |
| Accrued charges and deferred income | 492/3 | €17,484 | €29,790 | +€12,306 | +70.4% |
| Non-recurring operating income | 76A | - | €4,995 | +€4,995 | |
| Remuneration, social security and pensions | 62 | €656,235 | €683,906 | +€27,671 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,304 | €107,478 | +€174 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,500 | - | -€5,500 | |
| Other operating charges | 640/8 | €334 | €1,375 | +€1,040 | +311.0% |
| Non-recurring operating charges | 66A | €164 | €690 | +€526 | +320.3% |
| Gross operating margin | 9900 | €637,422 | €808,228 | +€170,806 | +26.8% |
| Operating profit (loss) | 9901 | -€132,115 | €14,780 | +€146,894 | |
| Financial income | 75/76B | €13,440 | €2,465 | -€10,975 | -81.7% |
| Recurring financial income | 75 | €13,440 | €2,465 | -€10,975 | -81.7% |
| Financial charges | 65/66B | €23,508 | €22,044 | -€1,464 | -6.2% |
| Recurring financial charges | 65 | €23,508 | €22,044 | -€1,464 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€142,182 | -€4,799 | +€137,384 | +96.6% |
| Income taxes | 67/77 | €1,948 | €1,632 | -€317 | -16.2% |
| Profit (loss) for the period | 9904 | -€144,131 | -€6,430 | +€137,700 | +95.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€144,131 | -€6,430 | +€137,700 | +95.5% |
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 8 October 2026 via checked.be.