SELKAGE: 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.
SELKAGE
Largest movements
- Cash -€25,910
down €25,910 (-30.2%), from €85,781 to €59,871
mainly Investment in fixed assets (net) (-€27,631) and Contributions, distributions and other (-€22,804)
- Tangible fixed assets +€13,937
up €13,937 (+8.4%), from €166,766 to €180,703
of which Land and buildings: +€10,713
- Reserves -€14,397
down €14,397 (-7.0%), from €205,509 to €191,112
- Other debts +€3,209
up €3,209 (+205.0%), from €1,565 to €4,774
- Depreciation +€5,579
up €5,579 (+68.7%), from €8,116 to €13,695
- Taxes -€1,483
down €1,483 (-27.2%), from €5,453 to €3,970
- Gross operating margin +€1,024
up €1,024 (+3.5%), from €29,471 to €30,495
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 | €252,709 | €240,742 | -€11,968 | -4.7% |
| Fixed assets | 21/28 | €166,766 | €180,703 | +€13,937 | +8.4% |
| Tangible fixed assets | 22/27 | €166,766 | €180,703 | +€13,937 | +8.4% |
| Land and buildings | 22 | €164,910 | €175,623 | +€10,713 | +6.5% |
| Furniture and vehicles | 24 | €1,856 | €5,079 | +€3,223 | +173.7% |
| Current assets | 29/58 | €85,943 | €60,039 | -€25,904 | -30.1% |
| Cash at bank and in hand | 54/58 | €85,781 | €59,871 | -€25,910 | -30.2% |
| Deferred charges and accrued income | 490/1 | €163 | €168 | +€6 | +3.5% |
| Total equity and liabilities | 10/49 | €252,709 | €240,742 | -€11,968 | -4.7% |
| Equity | 10/15 | €245,940 | €231,543 | -€14,397 | -5.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €205,509 | €191,112 | -€14,397 | -7.0% |
| Distributable reserves | 133 | €205,509 | €191,112 | -€14,397 | -7.0% |
| Profit (loss) carried forward | 14 | €15,641 | €15,641 | = | 0.0% |
| Amounts payable | 17/49 | €6,769 | €9,199 | +€2,430 | +35.9% |
| Amounts payable within one year | 42/48 | €6,394 | €7,074 | +€680 | +10.6% |
| Trade debts | 44 | €2,376 | €190 | -€2,186 | -92.0% |
| Suppliers | 440/4 | €2,376 | €190 | -€2,186 | -92.0% |
| Taxes, remuneration and social security | 45 | €2,453 | €2,110 | -€342 | -14.0% |
| Taxes | 450/3 | €2,453 | €2,110 | -€342 | -14.0% |
| Other amounts payable | 47/48 | €1,565 | €4,774 | +€3,209 | +205.0% |
| Accrued charges and deferred income | 492/3 | €375 | €2,125 | +€1,750 | +466.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,116 | €13,695 | +€5,579 | +68.7% |
| Other operating charges | 640/8 | €4,260 | €4,394 | +€134 | +3.1% |
| Gross operating margin | 9900 | €29,471 | €30,495 | +€1,024 | +3.5% |
| Operating profit (loss) | 9901 | €17,095 | €12,406 | -€4,689 | -27.4% |
| Financial income | 75/76B | €2 | €0 | -€1 | -76.9% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -76.9% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €17,068 | €12,377 | -€4,692 | -27.5% |
| Income taxes | 67/77 | €5,453 | €3,970 | -€1,483 | -27.2% |
| Profit (loss) for the period | 9904 | €11,616 | €8,407 | -€3,209 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,616 | €8,407 | -€3,209 | -27.6% |
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 1 October 2026 via checked.be.