SELECTIEF: 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.
SELECTIEF
Largest movements
- Receivables within one year +€18,809
up €18,809 (+15.9%), from €118,075 to €136,883
- Cash -€12,016
down €12,016 (-24.5%), from €49,067 to €37,052
mainly Receivables within one year (-€18,809) and Trade debts (-€15,726)
- Tangible fixed assets -€7,302
down €7,302 (-35.4%), from €20,643 to €13,341
of which Leasing and similar rights: -€5,488
- Trade debts -€15,726
down €15,726 (-61.3%), from €25,654 to €9,928
- Reserves +€10,553
up €10,553 (+8.9%), from €118,456 to €129,009
of which Distributable reserves: +€10,553
- Tax, wage and social debts +€9,177
up €9,177 (+48.4%), from €18,976 to €28,153
of which Taxes: +€8,274
- Debts after one year -€4,724
down €4,724 (-29.2%), from €16,185 to €11,461
- Gross operating margin +€5,179
up €5,179 (+30.7%), from €16,893 to €22,071
- Taxes +€2,801
new in 2025: €2,801
- Financial income +€319
up €319 (+30968.0%), from €1 to €320
- Financial charges -€304
down €304 (-22.4%), from €1,357 to €1,053
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 | €187,785 | €187,275 | -€510 | -0.3% |
| Fixed assets | 21/28 | €20,643 | €13,341 | -€7,302 | -35.4% |
| Tangible fixed assets | 22/27 | €20,643 | €13,341 | -€7,302 | -35.4% |
| Furniture and vehicles | 24 | €1,894 | €79 | -€1,815 | -95.8% |
| Leasing and similar rights | 25 | €18,749 | €13,262 | -€5,488 | -29.3% |
| Current assets | 29/58 | €167,142 | €173,935 | +€6,793 | +4.1% |
| Amounts receivable within one year | 40/41 | €118,075 | €136,883 | +€18,809 | +15.9% |
| Trade receivables | 40 | €118,075 | €136,883 | +€18,809 | +15.9% |
| Cash at bank and in hand | 54/58 | €49,067 | €37,052 | -€12,016 | -24.5% |
| Total equity and liabilities | 10/49 | €187,785 | €187,275 | -€510 | -0.3% |
| Equity | 10/15 | €122,456 | €133,009 | +€10,553 | +8.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €118,456 | €129,009 | +€10,553 | +8.9% |
| Non-distributable reserves | 130/1 | €400 | €400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €400 | €400 | = | 0.0% |
| Distributable reserves | 133 | €118,056 | €128,609 | +€10,553 | +8.9% |
| Amounts payable | 17/49 | €65,329 | €54,266 | -€11,063 | -16.9% |
| Amounts payable after more than one year | 17 | €16,185 | €11,461 | -€4,724 | -29.2% |
| Financial debts | 170/4 | €16,185 | €11,461 | -€4,724 | -29.2% |
| Amounts payable within one year | 42/48 | €49,144 | €42,805 | -€6,339 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €4,514 | €4,724 | +€210 | +4.7% |
| Trade debts | 44 | €25,654 | €9,928 | -€15,726 | -61.3% |
| Suppliers | 440/4 | €25,654 | €9,928 | -€15,726 | -61.3% |
| Taxes, remuneration and social security | 45 | €18,976 | €28,153 | +€9,177 | +48.4% |
| Taxes | 450/3 | €18,976 | €27,250 | +€8,274 | +43.6% |
| Remuneration and social security | 454/9 | - | €903 | +€903 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,459 | €7,302 | -€157 | -2.1% |
| Other operating charges | 640/8 | €679 | €681 | +€2 | +0.2% |
| Gross operating margin | 9900 | €16,893 | €22,071 | +€5,179 | +30.7% |
| Operating profit (loss) | 9901 | €8,754 | €14,088 | +€5,334 | +60.9% |
| Financial income | 75/76B | €1 | €320 | +€319 | +30968.0% |
| Recurring financial income | 75 | €1 | €320 | +€319 | +30968.0% |
| Financial charges | 65/66B | €1,357 | €1,053 | -€304 | -22.4% |
| Recurring financial charges | 65 | €1,357 | €1,053 | -€304 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €7,398 | €13,355 | +€5,957 | +80.5% |
| Income taxes | 67/77 | - | €2,801 | +€2,801 | |
| Profit (loss) for the period | 9904 | €7,398 | €10,553 | +€3,155 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,398 | €10,553 | +€3,155 | +42.6% |
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 11 October 2026 via checked.be.