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
- Receivables within one year -€41,550
down €41,550 (-52.7%), from €78,834 to €37,284
of which Trade receivables: -€62,346
- Deferred charges and accrued income +€4,869
up €4,869 (+4,587%), from €106 to €4,975
- Tangible fixed assets -€3,600
down €3,600 (-39.1%), from €9,202 to €5,602
- Trade debts -€42,975
no longer reported in 2025 (was €42,975)
- Profit (loss) carried forward +€3,054
up €3,054 (+8.4%), from €36,253 to €39,307
- Gross operating margin -€16,663
down €16,663 (-61.9%), from €26,916 to €10,253
- Taxes -€4,235
down €4,235 (-74.9%), from €5,656 to €1,421
- Depreciation +€2,002
up €2,002 (+125%), from €1,598 to €3,600
- Financial charges +€801
up €801 (+1,107%), from €72 to €874
- Other operating charges +€734
up €734 (+71.9%), from €1,021 to €1,755
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 | €88,144 | €47,868 | -€40,276 | -45.7% |
| Fixed assets | 21/28 | €9,202 | €5,602 | -€3,600 | -39.1% |
| Tangible fixed assets | 22/27 | €9,202 | €5,602 | -€3,600 | -39.1% |
| Furniture and vehicles | 24 | €9,202 | €5,602 | -€3,600 | -39.1% |
| Current assets | 29/58 | €78,942 | €42,266 | -€36,676 | -46.5% |
| Amounts receivable within one year | 40/41 | €78,834 | €37,284 | -€41,550 | -52.7% |
| Trade receivables | 40 | €72,822 | €10,476 | -€62,346 | -85.6% |
| Other amounts receivable | 41 | €6,012 | €26,808 | +€20,796 | +346% |
| Cash at bank and in hand | 54/58 | €2 | €7 | +€5 | +220% |
| Deferred charges and accrued income | 490/1 | €106 | €4,975 | +€4,869 | +4,587% |
| Total equity and liabilities | 10/49 | €88,144 | €47,868 | -€40,276 | -45.7% |
| Equity | 10/15 | €37,453 | €40,507 | +€3,054 | +8.2% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,253 | €39,307 | +€3,054 | +8.4% |
| Amounts payable | 17/49 | €50,691 | €7,362 | -€43,330 | -85.5% |
| Amounts payable within one year | 42/48 | €50,691 | €7,362 | -€43,330 | -85.5% |
| Financial debts | 43 | - | €510 | +€510 | |
| Credit institutions | 430/8 | - | €510 | +€510 | |
| Trade debts | 44 | €42,975 | - | -€42,975 | |
| Suppliers | 440/4 | €42,975 | - | -€42,975 | |
| Taxes, remuneration and social security | 45 | €7,716 | €6,852 | -€864 | -11.2% |
| Taxes | 450/3 | €7,716 | €6,852 | -€864 | -11.2% |
| Remuneration, social security and pensions | 62 | €145 | €260 | +€115 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,598 | €3,600 | +€2,002 | +125% |
| Other operating charges | 640/8 | €1,021 | €1,755 | +€734 | +71.9% |
| Gross operating margin | 9900 | €26,916 | €10,253 | -€16,663 | -61.9% |
| Operating profit (loss) | 9901 | €24,152 | €4,638 | -€19,514 | -80.8% |
| Financial income | 75/76B | - | €711 | +€711 | |
| Recurring financial income | 75 | - | €711 | +€711 | |
| Financial charges | 65/66B | €72 | €874 | +€801 | +1,107% |
| Recurring financial charges | 65 | €72 | €874 | +€801 | +1,107% |
| Profit (loss) for the period before taxes | 9903 | €24,080 | €4,475 | -€19,605 | -81.4% |
| Income taxes | 67/77 | €5,656 | €1,421 | -€4,235 | -74.9% |
| Profit (loss) for the period | 9904 | €18,424 | €3,054 | -€15,370 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,424 | €3,054 | -€15,370 | -83.4% |
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 20 October 2026 via checked.be.