SELMAR: 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.
SELMAR
Largest movements
- Receivables within one year -€28,440
down €28,440 (-98.7%), from €28,816 to €377
of which Trade receivables: -€24,224
- Cash -€4,605
down €4,605 (-20.1%), from €22,903 to €18,298
mainly Trade debts (-€15,885) and Other debts (-€10,424)
- Tangible fixed assets -€4,193
down €4,193 (-44.3%), from €9,470 to €5,276
of which Furniture and vehicles: -€3,732
- Stocks and contracts +€1,130
up €1,130 (+15.4%), from €7,361 to €8,491
- Trade debts -€15,885
down €15,885 (-73.6%), from €21,572 to €5,686
- Other debts -€10,424
no longer reported in 2025 (was €10,424)
- Profit (loss) carried forward -€5,813
down €5,813 (-79.4%), from €7,324 to €1,512
- Tax, wage and social debts -€3,914
down €3,914 (-34.5%), from €11,352 to €7,438
of which Remuneration and social security: -€3,331
- Gross operating margin -€7,627
down €7,627 (-19.2%), from €39,672 to €32,045
- Taxes -€1,922
no longer reported in 2025 (was €1,922)
- Staff costs +€1,750
up €1,750 (+6.5%), from €27,074 to €28,824
- Other operating charges +€967
up €967 (+35.1%), from €2,755 to €3,722
- Financial charges +€602
up €602 (+117%), from €516 to €1,118
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 | €69,331 | €33,236 | -€36,095 | -52.1% |
| Fixed assets | 21/28 | €9,562 | €5,369 | -€4,193 | -43.9% |
| Tangible fixed assets | 22/27 | €9,470 | €5,276 | -€4,193 | -44.3% |
| Plant, machinery and equipment | 23 | €795 | €333 | -€462 | -58.1% |
| Furniture and vehicles | 24 | €8,675 | €4,943 | -€3,732 | -43.0% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €59,769 | €27,867 | -€31,901 | -53.4% |
| Stocks and contracts in progress | 3 | €7,361 | €8,491 | +€1,130 | +15.4% |
| Stocks | 30/36 | €7,361 | €8,491 | +€1,130 | +15.4% |
| Amounts receivable within one year | 40/41 | €28,816 | €377 | -€28,440 | -98.7% |
| Trade receivables | 40 | €24,224 | - | -€24,224 | |
| Other amounts receivable | 41 | €4,592 | €377 | -€4,216 | -91.8% |
| Cash at bank and in hand | 54/58 | €22,903 | €18,298 | -€4,605 | -20.1% |
| Deferred charges and accrued income | 490/1 | €689 | €702 | +€13 | +1.8% |
| Total equity and liabilities | 10/49 | €69,331 | €33,236 | -€36,095 | -52.1% |
| Equity | 10/15 | €25,924 | €20,112 | -€5,813 | -22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,324 | €1,512 | -€5,813 | -79.4% |
| Amounts payable | 17/49 | €43,407 | €13,124 | -€30,282 | -69.8% |
| Amounts payable within one year | 42/48 | €43,349 | €13,124 | -€30,224 | -69.7% |
| Trade debts | 44 | €21,572 | €5,686 | -€15,885 | -73.6% |
| Suppliers | 440/4 | €21,572 | €5,686 | -€15,885 | -73.6% |
| Taxes, remuneration and social security | 45 | €11,352 | €7,438 | -€3,914 | -34.5% |
| Taxes | 450/3 | €6,322 | €5,739 | -€583 | -9.2% |
| Remuneration and social security | 454/9 | €5,030 | €1,699 | -€3,331 | -66.2% |
| Other amounts payable | 47/48 | €10,424 | - | -€10,424 | |
| Accrued charges and deferred income | 492/3 | €58 | - | -€58 | |
| Remuneration, social security and pensions | 62 | €27,074 | €28,824 | +€1,750 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,786 | €4,193 | -€592 | -12.4% |
| Other operating charges | 640/8 | €2,755 | €3,722 | +€967 | +35.1% |
| Gross operating margin | 9900 | €39,672 | €32,045 | -€7,627 | -19.2% |
| Operating profit (loss) | 9901 | €5,057 | -€4,694 | -€9,752 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €516 | €1,118 | +€602 | +117% |
| Recurring financial charges | 65 | €516 | €1,118 | +€602 | +117% |
| Profit (loss) for the period before taxes | 9903 | €4,541 | -€5,813 | -€10,354 | |
| Income taxes | 67/77 | €1,922 | - | -€1,922 | |
| Profit (loss) for the period | 9904 | €2,619 | -€5,813 | -€8,432 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,619 | -€5,813 | -€8,432 |
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 28 October 2026 via checked.be.