SELOU: 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.
SELOU
Largest movements
- Current investments -€83,231
down €83,231 (-84.1%), from €99,000 to €15,769
- Receivables within one year +€5,182
up €5,182 (+36.0%), from €14,384 to €19,566
- Cash -€3,239
down €3,239 (-4.4%), from €74,380 to €71,141
mainly Contributions, distributions and other (-€202,341) and Tax, wage and social debts (-€5,369)
- Reserves -€136,579
down €136,579 (-100%), from €136,579 to €0
- Other debts +€59,012
new in 2025: €59,012
- Tax, wage and social debts -€5,369
down €5,369 (-14.4%), from €37,217 to €31,849
of which Taxes: -€5,379
- Gross operating margin +€10,302
up €10,302 (+13.8%), from €74,838 to €85,141
- Taxes +€3,983
up €3,983 (+27.3%), from €14,592 to €18,575
- Financial income +€3,079
up €3,079 (+294%), from €1,047 to €4,127
- Depreciation -€2,272
down €2,272 (-36.1%), from €6,284 to €4,013
- Financial charges -€1,111
down €1,111 (-90.3%), from €1,230 to €119
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 | €197,724 | €114,729 | -€82,995 | -42.0% |
| Fixed assets | 21/28 | €8,995 | €7,266 | -€1,730 | -19.2% |
| Tangible fixed assets | 22/27 | €8,995 | €7,266 | -€1,730 | -19.2% |
| Furniture and vehicles | 24 | €8,995 | €7,266 | -€1,730 | -19.2% |
| Current assets | 29/58 | €188,729 | €107,463 | -€81,266 | -43.1% |
| Amounts receivable within one year | 40/41 | €14,384 | €19,566 | +€5,182 | +36.0% |
| Trade receivables | 40 | €14,384 | €19,566 | +€5,182 | +36.0% |
| Current investments | 50/53 | €99,000 | €15,769 | -€83,231 | -84.1% |
| Cash at bank and in hand | 54/58 | €74,380 | €71,141 | -€3,239 | -4.4% |
| Deferred charges and accrued income | 490/1 | €965 | €988 | +€22 | +2.3% |
| Total equity and liabilities | 10/49 | €197,724 | €114,729 | -€82,995 | -42.0% |
| Equity | 10/15 | €139,579 | €3,000 | -€136,579 | -97.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €136,579 | €0 | -€136,579 | -100% |
| Distributable reserves | 133 | €136,579 | €0 | -€136,579 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €58,146 | €111,729 | +€53,583 | +92.2% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,967 | €91,729 | +€53,762 | +142% |
| Trade debts | 44 | €750 | €868 | +€118 | +15.8% |
| Suppliers | 440/4 | €750 | €868 | +€118 | +15.8% |
| Taxes, remuneration and social security | 45 | €37,217 | €31,849 | -€5,369 | -14.4% |
| Taxes | 450/3 | €34,899 | €29,520 | -€5,379 | -15.4% |
| Remuneration and social security | 454/9 | €2,318 | €2,328 | +€10 | +0.4% |
| Other amounts payable | 47/48 | - | €59,012 | +€59,012 | |
| Accrued charges and deferred income | 492/3 | €179 | €0 | -€179 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,284 | €4,013 | -€2,272 | -36.1% |
| Other operating charges | 640/8 | €711 | €799 | +€87 | +12.3% |
| Gross operating margin | 9900 | €74,838 | €85,141 | +€10,302 | +13.8% |
| Operating profit (loss) | 9901 | €67,842 | €80,329 | +€12,487 | +18.4% |
| Financial income | 75/76B | €1,047 | €4,127 | +€3,079 | +294% |
| Recurring financial income | 75 | €1,047 | €4,127 | +€3,079 | +294% |
| Financial charges | 65/66B | €1,230 | €119 | -€1,111 | -90.3% |
| Recurring financial charges | 65 | €1,230 | €119 | -€1,111 | -90.3% |
| Profit (loss) for the period before taxes | 9903 | €67,660 | €84,337 | +€16,677 | +24.6% |
| Income taxes | 67/77 | €14,592 | €18,575 | +€3,983 | +27.3% |
| Profit (loss) for the period | 9904 | €53,068 | €65,762 | +€12,694 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,068 | €65,762 | +€12,694 | +23.9% |
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.