Selim: 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.
Selim
Largest movements
- Stocks and contracts +€10,596
up €10,596 (+310%), from €3,423 to €14,019
- Tangible fixed assets +€4,391
up €4,391 (+28.6%), from €15,352 to €19,743
of which Plant, machinery and equipment: +€6,566
- Receivables within one year +€4,024
up €4,024 (+33.7%), from €11,957 to €15,981
of which Trade receivables: +€3,784
- Deferred charges and accrued income -€1,358
no longer reported in 2025 (was €1,358)
- Cash +€709
up €709 (+4.8%), from €14,676 to €15,385
mainly Net result for the year (+€16,235) and Tax, wage and social debts (+€4,369)
- Profit (loss) carried forward +€16,235
up €16,235 (+301%), from €5,399 to €21,634
- Tax, wage and social debts +€4,369
up €4,369 (+68.6%), from €6,370 to €10,739
of which Taxes: +€4,394
- Trade debts -€4,021
down €4,021 (-29.0%), from €13,865 to €9,844
- Other debts +€1,779
up €1,779 (+9.9%), from €17,932 to €19,711
- Other operating charges -€13,808
down €13,808 (-95.2%), from €14,497 to €689
- Write-downs -€11,889
no longer reported in 2025 (was €11,889)
- Gross operating margin -€6,710
down €6,710 (-19.7%), from €34,107 to €27,397
- Taxes +€3,975
up €3,975 (+377%), from €1,055 to €5,030
- Depreciation +€2,206
up €2,206 (+130%), from €1,698 to €3,904
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 | €46,766 | €65,128 | +€18,362 | +39.3% |
| Fixed assets | 21/28 | €15,352 | €19,743 | +€4,391 | +28.6% |
| Tangible fixed assets | 22/27 | €15,352 | €19,743 | +€4,391 | +28.6% |
| Plant, machinery and equipment | 23 | €5,360 | €11,926 | +€6,566 | +123% |
| Furniture and vehicles | 24 | €6,764 | €5,291 | -€1,473 | -21.8% |
| Other tangible fixed assets | 26 | €3,228 | €2,526 | -€702 | -21.7% |
| Current assets | 29/58 | €31,414 | €45,385 | +€13,971 | +44.5% |
| Stocks and contracts in progress | 3 | €3,423 | €14,019 | +€10,596 | +310% |
| Stocks | 30/36 | €3,423 | €14,019 | +€10,596 | +310% |
| Amounts receivable within one year | 40/41 | €11,957 | €15,981 | +€4,024 | +33.7% |
| Trade receivables | 40 | €11,908 | €15,692 | +€3,784 | +31.8% |
| Other amounts receivable | 41 | €49 | €289 | +€240 | +490% |
| Cash at bank and in hand | 54/58 | €14,676 | €15,385 | +€709 | +4.8% |
| Deferred charges and accrued income | 490/1 | €1,358 | - | -€1,358 | |
| Total equity and liabilities | 10/49 | €46,766 | €65,128 | +€18,362 | +39.3% |
| Equity | 10/15 | €8,599 | €24,834 | +€16,235 | +189% |
| Contributions | 10/11 | €3,200 | €3,200 | = | 0.0% |
| Contributions outside capital | 11 | €3,200 | €3,200 | = | 0.0% |
| Other | 1109/19 | €3,200 | €3,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,399 | €21,634 | +€16,235 | +301% |
| Amounts payable | 17/49 | €38,167 | €40,294 | +€2,127 | +5.6% |
| Amounts payable within one year | 42/48 | €38,167 | €40,294 | +€2,127 | +5.6% |
| Trade debts | 44 | €13,865 | €9,844 | -€4,021 | -29.0% |
| Suppliers | 440/4 | €13,865 | €9,844 | -€4,021 | -29.0% |
| Taxes, remuneration and social security | 45 | €6,370 | €10,739 | +€4,369 | +68.6% |
| Taxes | 450/3 | €6,345 | €10,739 | +€4,394 | +69.3% |
| Remuneration and social security | 454/9 | €25 | - | -€25 | |
| Other amounts payable | 47/48 | €17,932 | €19,711 | +€1,779 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,698 | €3,904 | +€2,206 | +130% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,889 | - | -€11,889 | |
| Other operating charges | 640/8 | €14,497 | €689 | -€13,808 | -95.2% |
| Gross operating margin | 9900 | €34,107 | €27,397 | -€6,710 | -19.7% |
| Operating profit (loss) | 9901 | €6,023 | €22,804 | +€16,781 | +279% |
| Financial income | 75/76B | €186 | €179 | -€7 | -3.8% |
| Recurring financial income | 75 | €186 | €179 | -€7 | -3.8% |
| Financial charges | 65/66B | €2,252 | €1,718 | -€534 | -23.7% |
| Recurring financial charges | 65 | €2,252 | €1,718 | -€534 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €3,957 | €21,265 | +€17,308 | +437% |
| Income taxes | 67/77 | €1,055 | €5,030 | +€3,975 | +377% |
| Profit (loss) for the period | 9904 | €2,902 | €16,235 | +€13,333 | +459% |
| Profit (loss) for the period to be appropriated | 9905 | €2,902 | €16,235 | +€13,333 | +459% |
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 14 October 2026 via checked.be.