Selo: 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.
Selo
Largest movements
- Cash +€172,844
up €172,844 (+221.0%), from €78,214 to €251,058
mainly Current investments (+€150,000) and Net result for the year (+€45,021)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Receivables within one year +€30,250
up €30,250 (+100.0%), from €30,250 to €60,500
- Tangible fixed assets -€11,136
down €11,136 (-61.2%), from €18,197 to €7,061
of which Furniture and vehicles: -€10,998
- Reserves +€45,021
up €45,021 (+30.8%), from €146,340 to €191,361
of which Distributable reserves: +€45,021
- Debts after one year -€6,775
no longer reported in 2025 (was €6,775)
- Current portion of long-term debt -€4,725
down €4,725 (-41.1%), from €11,500 to €6,775
- Trade debts +€4,508
new in 2025: €4,508
- Financial charges +€52,012
up €52,012 (+16861.4%), from €308 to €52,321
- Gross operating margin +€20,502
up €20,502 (+20.1%), from €102,227 to €122,729
- Taxes -€7,003
down €7,003 (-27.9%), from €25,114 to €18,111
- Financial income +€4,746
up €4,746 (+47461.4%), from €10 to €4,756
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 | €276,661 | €318,642 | +€41,981 | +15.2% |
| Fixed assets | 21/28 | €18,197 | €7,061 | -€11,136 | -61.2% |
| Tangible fixed assets | 22/27 | €18,197 | €7,061 | -€11,136 | -61.2% |
| Plant, machinery and equipment | 23 | €733 | €595 | -€138 | -18.9% |
| Furniture and vehicles | 24 | €17,464 | €6,466 | -€10,998 | -63.0% |
| Current assets | 29/58 | €258,464 | €311,581 | +€53,117 | +20.6% |
| Amounts receivable within one year | 40/41 | €30,250 | €60,500 | +€30,250 | +100.0% |
| Trade receivables | 40 | €30,250 | €60,500 | +€30,250 | +100.0% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €78,214 | €251,058 | +€172,844 | +221.0% |
| Deferred charges and accrued income | 490/1 | - | €23 | +€23 | |
| Total equity and liabilities | 10/49 | €276,661 | €318,642 | +€41,981 | +15.2% |
| Equity | 10/15 | €237,589 | €282,610 | +€45,021 | +18.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €146,340 | €191,361 | +€45,021 | +30.8% |
| Tax-exempt reserves | 132 | €58,940 | €58,940 | = | 0.0% |
| Distributable reserves | 133 | €87,400 | €132,421 | +€45,021 | +51.5% |
| Profit (loss) carried forward | 14 | €87,249 | €87,249 | = | 0.0% |
| Amounts payable | 17/49 | €39,072 | €36,033 | -€3,040 | -7.8% |
| Amounts payable after more than one year | 17 | €6,775 | - | -€6,775 | |
| Financial debts | 170/4 | €6,775 | - | -€6,775 | |
| Amounts payable within one year | 42/48 | €29,297 | €33,033 | +€3,735 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €11,500 | €6,775 | -€4,725 | -41.1% |
| Trade debts | 44 | - | €4,508 | +€4,508 | |
| Suppliers | 440/4 | - | €4,508 | +€4,508 | |
| Taxes, remuneration and social security | 45 | €16,490 | €19,466 | +€2,976 | +18.0% |
| Taxes | 450/3 | €16,490 | €19,466 | +€2,976 | +18.0% |
| Other amounts payable | 47/48 | €1,308 | €2,284 | +€976 | +74.7% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,844 | €11,589 | -€255 | -2.2% |
| Other operating charges | 640/8 | €427 | €443 | +€16 | +3.8% |
| Gross operating margin | 9900 | €102,227 | €122,729 | +€20,502 | +20.1% |
| Operating profit (loss) | 9901 | €89,956 | €110,696 | +€20,740 | +23.1% |
| Financial income | 75/76B | €10 | €4,756 | +€4,746 | +47461.4% |
| Recurring financial income | 75 | €10 | €4,756 | +€4,746 | +47461.4% |
| Financial charges | 65/66B | €308 | €52,321 | +€52,012 | +16861.4% |
| Recurring financial charges | 65 | €308 | €52,321 | +€52,012 | +16861.4% |
| Profit (loss) for the period before taxes | 9903 | €89,658 | €63,132 | -€26,526 | -29.6% |
| Income taxes | 67/77 | €25,114 | €18,111 | -€7,003 | -27.9% |
| Profit (loss) for the period | 9904 | €64,544 | €45,021 | -€19,523 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €64,544 | €45,021 | -€19,523 | -30.2% |
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 11 October 2026 via checked.be.