SELTEI: 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.
SELTEI
Largest movements
- Receivables within one year -€9,935
down €9,935 (-96.4%), from €10,306 to €371
of which Trade receivables: -€8,665
- Deferred charges and accrued income -€4,274
down €4,274 (-86.6%), from €4,934 to €660
- Cash -€2,058
down €2,058 (-11.0%), from €18,675 to €16,617
mainly Trade debts (-€5,585) and Net result for the year (-€4,679)
- Tangible fixed assets -€381
down €381 (-37.7%), from €1,012 to €630
- Profit (loss) carried forward -€6,221
down €6,221, from €2,068 to -€4,153
- Trade debts -€5,585
down €5,585 (-79.1%), from €7,056 to €1,471
- Accrued charges and deferred income -€4,248
no longer reported in 2025 (was €4,248)
- Tax, wage and social debts -€596
down €596 (-54.4%), from €1,096 to €500
- Gross operating margin -€24,138
down €24,138, from €22,331 to -€1,807
- Taxes -€4,648
down €4,648 (-75.4%), from €6,163 to €1,515
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 | €34,927 | €18,279 | -€16,649 | -47.7% |
| Fixed assets | 21/28 | €1,012 | €630 | -€381 | -37.7% |
| Tangible fixed assets | 22/27 | €1,012 | €630 | -€381 | -37.7% |
| Furniture and vehicles | 24 | €1,012 | €630 | -€381 | -37.7% |
| Current assets | 29/58 | €33,915 | €17,648 | -€16,267 | -48.0% |
| Amounts receivable within one year | 40/41 | €10,306 | €371 | -€9,935 | -96.4% |
| Trade receivables | 40 | €8,665 | - | -€8,665 | |
| Other amounts receivable | 41 | €1,641 | €371 | -€1,270 | -77.4% |
| Cash at bank and in hand | 54/58 | €18,675 | €16,617 | -€2,058 | -11.0% |
| Deferred charges and accrued income | 490/1 | €4,934 | €660 | -€4,274 | -86.6% |
| Total equity and liabilities | 10/49 | €34,927 | €18,279 | -€16,649 | -47.7% |
| Equity | 10/15 | €22,528 | €16,307 | -€6,221 | -27.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,068 | -€4,153 | -€6,221 | |
| Amounts payable | 17/49 | €12,399 | €1,971 | -€10,428 | -84.1% |
| Amounts payable within one year | 42/48 | €8,151 | €1,971 | -€6,180 | -75.8% |
| Trade debts | 44 | €7,056 | €1,471 | -€5,585 | -79.1% |
| Suppliers | 440/4 | €7,056 | €1,471 | -€5,585 | -79.1% |
| Taxes, remuneration and social security | 45 | €1,096 | €500 | -€596 | -54.4% |
| Taxes | 450/3 | €1,096 | €500 | -€596 | -54.4% |
| Accrued charges and deferred income | 492/3 | €4,248 | - | -€4,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381 | €381 | = | 0.0% |
| Other operating charges | 640/8 | €892 | €924 | +€32 | +3.5% |
| Gross operating margin | 9900 | €22,331 | -€1,807 | -€24,138 | |
| Operating profit (loss) | 9901 | €21,057 | -€3,112 | -€24,169 | |
| Financial income | 75/76B | €222 | €50 | -€172 | -77.4% |
| Recurring financial income | 75 | €222 | €50 | -€172 | -77.4% |
| Financial charges | 65/66B | €137 | €102 | -€36 | -25.9% |
| Recurring financial charges | 65 | €137 | €102 | -€36 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €21,142 | -€3,164 | -€24,306 | |
| Income taxes | 67/77 | €6,163 | €1,515 | -€4,648 | -75.4% |
| Profit (loss) for the period | 9904 | €14,979 | -€4,679 | -€19,658 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,979 | -€4,679 | -€19,658 |
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 9 October 2026 via checked.be.