SELECTION cs: what changed
SELECTION cs
Largest movements
- Cash -€20,263
down €20,263 (-82.5%), from €24,547 to €4,285
mainly Net result for the year (-€16,060) and Debts after one year (-€8,334)
- Tangible fixed assets -€6,658
down €6,658 (-4.1%), from €161,414 to €154,756
of which Land and buildings: -€5,126
- Receivables within one year +€4,894
up €4,894 (+8.3%), from €59,315 to €64,208
of which Trade receivables: +€3,454
- Profit (loss) carried forward -€16,060
down €16,060 (-52.6%), from €30,561 to €14,501
- Debts after one year -€8,334
down €8,334 (-5.8%), from €144,382 to €136,049
- Trade debts -€7,246
down €7,246 (-52.6%), from €13,775 to €6,530
- Short-term financial debts +€5,406
new in 2025: €5,406
- Gross operating margin -€17,925
down €17,925, from €17,438 to -€486
- Financial charges -€1,029
down €1,029 (-12.3%), from €8,370 to €7,341
- Other operating charges +€1,022
up €1,022 (+59.0%), from €1,733 to €2,755
- Taxes -€829
down €829 (-82.4%), from €1,006 to €177
- Financial income +€219
up €219 (+19.2%), from €1,139 to €1,357
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €247,772 | €223,644 | -€24,128 | -9.7% |
| Fixed assets | 21/28 | €161,414 | €154,756 | -€6,658 | -4.1% |
| Tangible fixed assets | 22/27 | €161,414 | €154,756 | -€6,658 | -4.1% |
| Land and buildings | 22 | €154,874 | €149,748 | -€5,126 | -3.3% |
| Furniture and vehicles | 24 | €1,150 | €387 | -€763 | -66.4% |
| Other tangible fixed assets | 26 | €5,389 | €4,621 | -€768 | -14.3% |
| Current assets | 29/58 | €86,358 | €68,887 | -€17,471 | -20.2% |
| Amounts receivable within one year | 40/41 | €59,315 | €64,208 | +€4,894 | +8.3% |
| Trade receivables | 40 | €33,279 | €36,733 | +€3,454 | +10.4% |
| Other amounts receivable | 41 | €26,035 | €27,475 | +€1,440 | +5.5% |
| Cash at bank and in hand | 54/58 | €24,547 | €4,285 | -€20,263 | -82.5% |
| Deferred charges and accrued income | 490/1 | €2,496 | €394 | -€2,102 | -84.2% |
| Total equity and liabilities | 10/49 | €247,772 | €223,644 | -€24,128 | -9.7% |
| Equity | 10/15 | €75,141 | €59,081 | -€16,060 | -21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €8,600 | €8,600 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €25,980 | €25,980 | = | 0.0% |
| Distributable reserves | 133 | €25,980 | €25,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,561 | €14,501 | -€16,060 | -52.6% |
| Amounts payable | 17/49 | €172,631 | €164,563 | -€8,068 | -4.7% |
| Amounts payable after more than one year | 17 | €144,382 | €136,049 | -€8,334 | -5.8% |
| Financial debts | 170/4 | €144,382 | €136,049 | -€8,334 | -5.8% |
| Amounts payable within one year | 42/48 | €27,672 | €28,514 | +€842 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €8,634 | €9,014 | +€379 | +4.4% |
| Financial debts | 43 | - | €5,406 | +€5,406 | |
| Credit institutions | 430/8 | - | €5,406 | +€5,406 | |
| Trade debts | 44 | €13,775 | €6,530 | -€7,246 | -52.6% |
| Suppliers | 440/4 | €13,775 | €6,530 | -€7,246 | -52.6% |
| Taxes, remuneration and social security | 45 | €5,263 | €7,565 | +€2,303 | +43.8% |
| Taxes | 450/3 | €3,263 | €5,565 | +€2,303 | +70.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €576 | - | -€576 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,602 | €6,658 | +€55 | +0.8% |
| Other operating charges | 640/8 | €1,733 | €2,755 | +€1,022 | +59.0% |
| Gross operating margin | 9900 | €17,438 | -€486 | -€17,925 | |
| Operating profit (loss) | 9901 | €9,103 | -€9,899 | -€19,002 | |
| Financial income | 75/76B | €1,139 | €1,357 | +€219 | +19.2% |
| Recurring financial income | 75 | €1,139 | €1,357 | +€219 | +19.2% |
| Financial charges | 65/66B | €8,370 | €7,341 | -€1,029 | -12.3% |
| Recurring financial charges | 65 | €8,370 | €7,341 | -€1,029 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €1,871 | -€15,883 | -€17,754 | |
| Income taxes | 67/77 | €1,006 | €177 | -€829 | -82.4% |
| Profit (loss) for the period | 9904 | €866 | -€16,060 | -€16,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €866 | -€16,060 | -€16,926 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 1 July 2024 and 1 July 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.