SELL: 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.
SELL
Largest movements
- Tangible fixed assets -€13,973
down €13,973 (-2.8%), from €495,990 to €482,017
of which Land and buildings: -€16,118
- Cash -€13,159
down €13,159 (-37.7%), from €34,889 to €21,730
mainly Other debts (-€48,970) and Debts after one year (-€34,637)
- Profit (loss) carried forward +€56,902
up €56,902 (+167%), from €34,043 to €90,944
- Other debts -€48,970
down €48,970 (-11.5%), from €424,403 to €375,433
- Debts after one year -€34,637
down €34,637 (-20.6%), from €167,856 to €133,220
- Trade debts -€8,243
down €8,243 (-79.5%), from €10,371 to €2,127
- Tax, wage and social debts +€7,907
up €7,907 (+56.7%), from €13,954 to €21,860
- Depreciation -€22,854
down €22,854 (-50.0%), from €45,717 to €22,863
- Taxes +€6,541
up €6,541 (+36.2%), from €18,091 to €24,632
- Gross operating margin +€2,835
up €2,835 (+2.6%), from €107,044 to €109,879
- Financial charges -€1,466
down €1,466 (-30.3%), from €4,833 to €3,367
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €705,668 | €678,626 | -€27,042 | -3.8% |
| Fixed assets | 21/28 | €630,990 | €617,017 | -€13,973 | -2.2% |
| Tangible fixed assets | 22/27 | €495,990 | €482,017 | -€13,973 | -2.8% |
| Land and buildings | 22 | €490,572 | €474,454 | -€16,118 | -3.3% |
| Furniture and vehicles | 24 | €5,419 | €7,563 | +€2,145 | +39.6% |
| Financial fixed assets | 28 | €135,000 | €135,000 | = | 0.0% |
| Current assets | 29/58 | €74,678 | €61,609 | -€13,069 | -17.5% |
| Amounts receivable within one year | 40/41 | €39,788 | €39,879 | +€90 | +0.2% |
| Trade receivables | 40 | €25,817 | €30,105 | +€4,288 | +16.6% |
| Other amounts receivable | 41 | €13,972 | €9,774 | -€4,198 | -30.0% |
| Cash at bank and in hand | 54/58 | €34,889 | €21,730 | -€13,159 | -37.7% |
| Total equity and liabilities | 10/49 | €705,668 | €678,626 | -€27,042 | -3.8% |
| Equity | 10/15 | €54,448 | €111,349 | +€56,902 | +105% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,043 | €90,944 | +€56,902 | +167% |
| Amounts payable | 17/49 | €651,220 | €567,277 | -€83,944 | -12.9% |
| Amounts payable after more than one year | 17 | €167,856 | €133,220 | -€34,637 | -20.6% |
| Financial debts | 170/4 | €167,856 | €133,220 | -€34,637 | -20.6% |
| Amounts payable within one year | 42/48 | €483,364 | €434,057 | -€49,307 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €34,637 | €34,637 | = | 0.0% |
| Trade debts | 44 | €10,371 | €2,127 | -€8,243 | -79.5% |
| Suppliers | 440/4 | €10,371 | €2,127 | -€8,243 | -79.5% |
| Taxes, remuneration and social security | 45 | €13,954 | €21,860 | +€7,907 | +56.7% |
| Taxes | 450/3 | €13,954 | €21,860 | +€7,907 | +56.7% |
| Other amounts payable | 47/48 | €424,403 | €375,433 | -€48,970 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,717 | €22,863 | -€22,854 | -50.0% |
| Other operating charges | 640/8 | €2,029 | €2,116 | +€87 | +4.3% |
| Gross operating margin | 9900 | €107,044 | €109,879 | +€2,835 | +2.6% |
| Operating profit (loss) | 9901 | €59,298 | €84,899 | +€25,601 | +43.2% |
| Financial income | 75/76B | €110 | €1 | -€109 | -98.7% |
| Recurring financial income | 75 | €110 | €1 | -€109 | -98.7% |
| Financial charges | 65/66B | €4,833 | €3,367 | -€1,466 | -30.3% |
| Recurring financial charges | 65 | €4,833 | €3,367 | -€1,466 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €54,575 | €81,534 | +€26,959 | +49.4% |
| Income taxes | 67/77 | €18,091 | €24,632 | +€6,541 | +36.2% |
| Profit (loss) for the period | 9904 | €36,484 | €56,902 | +€20,418 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,484 | €56,902 | +€20,418 | +56.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.