SELENA: 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.
SELENA
Largest movements
- Stocks and contracts +€90,386
up €90,386 (+627.7%), from €14,399 to €104,785
- Deferred charges and accrued income +€9,840
up €9,840 (+96.6%), from €10,191 to €20,031
- Other debts +€101,118
up €101,118 (+65.4%), from €154,536 to €255,653
- Profit (loss) carried forward -€4,684
down €4,684 (-1.4%), from -€337,654 to -€342,338
- Trade debts +€2,097
up €2,097 (+51.2%), from €4,093 to €6,190
- Gross operating margin -€4,385
down €4,385, from €3,697 to -€688
- Other operating charges -€1,091
down €1,091 (-62.9%), from €1,734 to €643
- Depreciation +€236
up €236 (+7.9%), from €2,970 to €3,206
- Financial charges +€79
up €79 (+117.1%), from €67 to €146
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 | €100,974 | €199,505 | +€98,531 | +97.6% |
| Fixed assets | 21/28 | €75,510 | €73,973 | -€1,538 | -2.0% |
| Tangible fixed assets | 22/27 | €75,510 | €73,973 | -€1,538 | -2.0% |
| Land and buildings | 22 | €75,510 | €72,603 | -€2,908 | -3.9% |
| Plant, machinery and equipment | 23 | - | €1,370 | +€1,370 | |
| Current assets | 29/58 | €25,464 | €125,533 | +€100,069 | +393.0% |
| Stocks and contracts in progress | 3 | €14,399 | €104,785 | +€90,386 | +627.7% |
| Stocks | 30/36 | €14,399 | €104,785 | +€90,386 | +627.7% |
| Cash at bank and in hand | 54/58 | €874 | €717 | -€157 | -18.0% |
| Deferred charges and accrued income | 490/1 | €10,191 | €20,031 | +€9,840 | +96.6% |
| Total equity and liabilities | 10/49 | €100,974 | €199,505 | +€98,531 | +97.6% |
| Equity | 10/15 | -€197,654 | -€202,338 | -€4,684 | -2.4% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€337,654 | -€342,338 | -€4,684 | -1.4% |
| Amounts payable | 17/49 | €298,628 | €401,843 | +€103,215 | +34.6% |
| Amounts payable after more than one year | 17 | €140,000 | €140,000 | = | 0.0% |
| Other amounts payable | 178/9 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €158,628 | €261,843 | +€103,215 | +65.1% |
| Trade debts | 44 | €4,093 | €6,190 | +€2,097 | +51.2% |
| Suppliers | 440/4 | €4,093 | €6,190 | +€2,097 | +51.2% |
| Other amounts payable | 47/48 | €154,536 | €255,653 | +€101,118 | +65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,970 | €3,206 | +€236 | +7.9% |
| Other operating charges | 640/8 | €1,734 | €643 | -€1,091 | -62.9% |
| Gross operating margin | 9900 | €3,697 | -€688 | -€4,385 | |
| Operating profit (loss) | 9901 | -€1,008 | -€4,538 | -€3,530 | -350.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €67 | €146 | +€79 | +117.1% |
| Recurring financial charges | 65 | €67 | €146 | +€79 | +117.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,075 | -€4,684 | -€3,609 | -335.8% |
| Profit (loss) for the period | 9904 | -€1,075 | -€4,684 | -€3,609 | -335.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,075 | -€4,684 | -€3,609 | -335.8% |
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 28 September 2026 via checked.be.