SELINCO: 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.
SELINCO
Largest movements
- Receivables within one year +€9,630
up €9,630 (+43.6%), from €22,093 to €31,724
of which Other amounts receivable: +€10,124
- Reserves +€36,199
up €36,199 (+19.0%), from €190,446 to €226,645
of which Distributable reserves: +€36,199
- Debts after one year -€27,009
down €27,009 (-13.4%), from €201,453 to €174,444
- Trade debts +€5,925
up €5,925 (+1,840%), from €322 to €6,247
- Gross operating margin +€10,050
up €10,050 (+21.0%), from €47,970 to €58,020
- Other operating charges +€795
up €795 (+15.6%), from €5,081 to €5,876
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 | €487,973 | €500,028 | +€12,055 | +2.5% |
| Fixed assets | 21/28 | €443,635 | €443,635 | = | 0.0% |
| Tangible fixed assets | 22/27 | €113,635 | €113,635 | = | 0.0% |
| Land and buildings | 22 | €113,635 | €113,635 | = | 0.0% |
| Financial fixed assets | 28 | €330,000 | €330,000 | = | 0.0% |
| Current assets | 29/58 | €44,337 | €56,393 | +€12,055 | +27.2% |
| Amounts receivable within one year | 40/41 | €22,093 | €31,724 | +€9,630 | +43.6% |
| Trade receivables | 40 | €493 | €0 | -€493 | -100% |
| Other amounts receivable | 41 | €21,600 | €31,724 | +€10,124 | +46.9% |
| Cash at bank and in hand | 54/58 | €21,301 | €22,287 | +€986 | +4.6% |
| Deferred charges and accrued income | 490/1 | €943 | €2,382 | +€1,439 | +153% |
| Total equity and liabilities | 10/49 | €487,973 | €500,028 | +€12,055 | +2.5% |
| Equity | 10/15 | €252,446 | €288,645 | +€36,199 | +14.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €190,446 | €226,645 | +€36,199 | +19.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €184,246 | €220,445 | +€36,199 | +19.6% |
| Amounts payable | 17/49 | €235,527 | €211,383 | -€24,144 | -10.3% |
| Amounts payable after more than one year | 17 | €201,453 | €174,444 | -€27,009 | -13.4% |
| Financial debts | 170/4 | €201,453 | €174,444 | -€27,009 | -13.4% |
| Amounts payable within one year | 42/48 | €33,840 | €36,938 | +€3,098 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €26,560 | €27,009 | +€449 | +1.7% |
| Trade debts | 44 | €322 | €6,247 | +€5,925 | +1,840% |
| Suppliers | 440/4 | €322 | €6,247 | +€5,925 | +1,840% |
| Taxes, remuneration and social security | 45 | €4,013 | €3,682 | -€331 | -8.2% |
| Taxes | 450/3 | €4,013 | €3,682 | -€331 | -8.2% |
| Other amounts payable | 47/48 | €2,946 | €0 | -€2,946 | -100% |
| Accrued charges and deferred income | 492/3 | €233 | €0 | -€233 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €5,081 | €5,876 | +€795 | +15.6% |
| Gross operating margin | 9900 | €47,970 | €58,020 | +€10,050 | +21.0% |
| Operating profit (loss) | 9901 | €42,889 | €52,144 | +€9,255 | +21.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,301 | €3,869 | -€433 | -10.1% |
| Recurring financial charges | 65 | €4,301 | €3,869 | -€433 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €38,588 | €48,276 | +€9,688 | +25.1% |
| Income taxes | 67/77 | €12,122 | €12,076 | -€46 | -0.4% |
| Profit (loss) for the period | 9904 | €26,466 | €36,199 | +€9,734 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,466 | €36,199 | +€9,734 | +36.8% |
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 18 October 2026 via checked.be.