SELTECH: 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.
SELTECH
Largest movements
- Cash -€14,457
down €14,457 (-28.8%), from €50,279 to €35,822
mainly Contributions, distributions and other (-€35,000) and Receivables within one year (-€5,726)
- Receivables within one year +€5,726
up €5,726 (+23.2%), from €24,728 to €30,454
of which Other amounts receivable: +€3,839
- Tangible fixed assets -€1,229
down €1,229 (-23.9%), from €5,150 to €3,921
of which Other tangible fixed assets: -€1,335
- Reserves -€12,625
down €12,625 (-24.5%), from €51,595 to €38,970
- Trade debts +€1,226
up €1,226 (+408%), from €300 to €1,526
- Tax, wage and social debts +€906
up €906 (+9.7%), from €9,316 to €10,222
- Gross operating margin -€22,726
down €22,726 (-40.6%), from €55,907 to €33,181
- Taxes -€4,264
down €4,264 (-37.8%), from €11,280 to €7,017
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 | €80,307 | €70,347 | -€9,960 | -12.4% |
| Fixed assets | 21/28 | €5,300 | €4,071 | -€1,229 | -23.2% |
| Tangible fixed assets | 22/27 | €5,150 | €3,921 | -€1,229 | -23.9% |
| Furniture and vehicles | 24 | €1,701 | €1,807 | +€106 | +6.2% |
| Other tangible fixed assets | 26 | €3,449 | €2,114 | -€1,335 | -38.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €75,007 | €66,276 | -€8,731 | -11.6% |
| Amounts receivable within one year | 40/41 | €24,728 | €30,454 | +€5,726 | +23.2% |
| Trade receivables | 40 | €22,864 | €24,751 | +€1,888 | +8.3% |
| Other amounts receivable | 41 | €1,864 | €5,703 | +€3,839 | +206% |
| Cash at bank and in hand | 54/58 | €50,279 | €35,822 | -€14,457 | -28.8% |
| Total equity and liabilities | 10/49 | €80,307 | €70,347 | -€9,960 | -12.4% |
| Equity | 10/15 | €70,195 | €57,570 | -€12,625 | -18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,595 | €38,970 | -€12,625 | -24.5% |
| Distributable reserves | 133 | €51,595 | €38,970 | -€12,625 | -24.5% |
| Amounts payable | 17/49 | €10,112 | €12,777 | +€2,665 | +26.4% |
| Amounts payable within one year | 42/48 | €9,616 | €11,748 | +€2,132 | +22.2% |
| Trade debts | 44 | €300 | €1,526 | +€1,226 | +408% |
| Suppliers | 440/4 | €300 | €1,526 | +€1,226 | +408% |
| Taxes, remuneration and social security | 45 | €9,316 | €10,222 | +€906 | +9.7% |
| Taxes | 450/3 | €9,316 | €10,222 | +€906 | +9.7% |
| Accrued charges and deferred income | 492/3 | €495 | €1,029 | +€534 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,164 | €2,378 | +€214 | +9.9% |
| Other operating charges | 640/8 | €773 | €1,078 | +€306 | +39.5% |
| Gross operating margin | 9900 | €55,907 | €33,181 | -€22,726 | -40.6% |
| Operating profit (loss) | 9901 | €52,970 | €29,724 | -€23,246 | -43.9% |
| Financial charges | 65/66B | €508 | €333 | -€175 | -34.4% |
| Recurring financial charges | 65 | €508 | €333 | -€175 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €52,462 | €29,391 | -€23,071 | -44.0% |
| Income taxes | 67/77 | €11,280 | €7,017 | -€4,264 | -37.8% |
| Profit (loss) for the period | 9904 | €41,181 | €22,375 | -€18,807 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,181 | €22,375 | -€18,807 | -45.7% |
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 22 October 2026 via checked.be.