SELO MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€11,377
down €11,377 (-24.7%), from €46,149 to €34,772
of which Leasing and similar rights: -€11,896
- Receivables within one year -€9,051
down €9,051 (-35.2%), from €25,747 to €16,695
of which Other amounts receivable: -€8,396
- Cash -€8,918
down €8,918 (-98.7%), from €9,032 to €114
mainly Debts after one year (-€15,269) and Other debts (-€9,221)
- Debts after one year -€15,269
down €15,269 (-70.7%), from €21,600 to €6,330
- Other debts -€9,221
down €9,221 (-61.5%), from €15,000 to €5,779
- Reserves -€6,384
down €6,384 (-21.8%), from €29,262 to €22,879
- Gross operating margin -€11,610
down €11,610 (-32.3%), from €35,973 to €24,363
- Financial charges -€1,072
down €1,072 (-37.2%), from €2,883 to €1,811
- Taxes -€1,067
down €1,067 (-23.0%), from €4,638 to €3,571
- Financial income -€379
down €379 (-100%), from €379 to €0
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 | €88,205 | €58,696 | -€29,509 | -33.5% |
| Fixed assets | 21/28 | €46,149 | €34,772 | -€11,377 | -24.7% |
| Tangible fixed assets | 22/27 | €46,149 | €34,772 | -€11,377 | -24.7% |
| Land and buildings | 22 | €5,346 | €4,034 | -€1,312 | -24.5% |
| Furniture and vehicles | 24 | €2,212 | €4,044 | +€1,832 | +82.8% |
| Leasing and similar rights | 25 | €38,590 | €26,694 | -€11,896 | -30.8% |
| Current assets | 29/58 | €42,056 | €23,924 | -€18,132 | -43.1% |
| Amounts receivable within one year | 40/41 | €25,747 | €16,695 | -€9,051 | -35.2% |
| Trade receivables | 40 | €15,349 | €14,693 | -€656 | -4.3% |
| Other amounts receivable | 41 | €10,398 | €2,002 | -€8,396 | -80.7% |
| Cash at bank and in hand | 54/58 | €9,032 | €114 | -€8,918 | -98.7% |
| Deferred charges and accrued income | 490/1 | €7,278 | €7,115 | -€163 | -2.2% |
| Total equity and liabilities | 10/49 | €88,205 | €58,696 | -€29,509 | -33.5% |
| Equity | 10/15 | €32,262 | €25,879 | -€6,384 | -19.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,262 | €22,879 | -€6,384 | -21.8% |
| Distributable reserves | 133 | €29,262 | €22,879 | -€6,384 | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,942 | €32,817 | -€23,126 | -41.3% |
| Amounts payable after more than one year | 17 | €21,600 | €6,330 | -€15,269 | -70.7% |
| Financial debts | 170/4 | €21,600 | €6,330 | -€15,269 | -70.7% |
| Amounts payable within one year | 42/48 | €34,330 | €26,487 | -€7,844 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €14,447 | €15,269 | +€822 | +5.7% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €523 | €365 | -€158 | -30.2% |
| Suppliers | 440/4 | €523 | €365 | -€158 | -30.2% |
| Taxes, remuneration and social security | 45 | €4,360 | €5,073 | +€713 | +16.4% |
| Taxes | 450/3 | €4,360 | €4,289 | -€71 | -1.6% |
| Remuneration and social security | 454/9 | - | €784 | +€784 | |
| Other amounts payable | 47/48 | €15,000 | €5,779 | -€9,221 | -61.5% |
| Accrued charges and deferred income | 492/3 | €13 | €0 | -€13 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,244 | €14,277 | +€33 | +0.2% |
| Other operating charges | 640/8 | €2,621 | €2,905 | +€284 | +10.9% |
| Gross operating margin | 9900 | €35,973 | €24,363 | -€11,610 | -32.3% |
| Operating profit (loss) | 9901 | €19,108 | €7,181 | -€11,927 | -62.4% |
| Financial income | 75/76B | €379 | €0 | -€379 | -100% |
| Recurring financial income | 75 | €379 | €0 | -€379 | -100% |
| Financial charges | 65/66B | €2,883 | €1,811 | -€1,072 | -37.2% |
| Recurring financial charges | 65 | €2,883 | €1,811 | -€1,072 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €16,605 | €5,370 | -€11,234 | -67.7% |
| Income taxes | 67/77 | €4,638 | €3,571 | -€1,067 | -23.0% |
| Profit (loss) for the period | 9904 | €11,966 | €1,799 | -€10,167 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,966 | €1,799 | -€10,167 | -85.0% |
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.