SELTEN: 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.
SELTEN
Largest movements
- Receivables within one year -€418,094
down €418,094 (-61.1%), from €683,774 to €265,680
of which Trade receivables: -€609,300
- Tangible fixed assets -€57,278
down €57,278 (-4.7%), from €1.2m to €1.2m
of which Furniture and vehicles: -€56,931
- Other debts -€422,549
down €422,549 (-63.9%), from €660,946 to €238,397
- Debts after one year -€72,000
down €72,000 (-12.3%), from €585,812 to €513,812
- Reserves +€71,406
up €71,406 (+18.4%), from €387,448 to €458,854
of which Distributable reserves: +€71,406
- Trade debts -€26,687
down €26,687 (-70.9%), from €37,661 to €10,974
- Short-term financial debts -€25,318
down €25,318 (-42.9%), from €59,058 to €33,740
- Gross operating margin -€85,400
down €85,400 (-15.9%), from €538,321 to €452,921
- Taxes -€38,497
down €38,497 (-36.9%), from €104,359 to €65,862
- Other operating charges +€25,831
up €25,831 (+686.2%), from €3,764 to €29,595
- Depreciation +€12,661
up €12,661 (+13.8%), from €92,047 to €104,708
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 | €1,935,888 | €1,449,878 | -€486,010 | -25.1% |
| Fixed assets | 21/28 | €1,217,317 | €1,160,039 | -€57,278 | -4.7% |
| Tangible fixed assets | 22/27 | €1,217,317 | €1,160,039 | -€57,278 | -4.7% |
| Land and buildings | 22 | €990,610 | €991,981 | +€1,371 | +0.1% |
| Plant, machinery and equipment | 23 | €7,313 | €5,595 | -€1,718 | -23.5% |
| Furniture and vehicles | 24 | €219,394 | €162,463 | -€56,931 | -25.9% |
| Current assets | 29/58 | €718,571 | €289,839 | -€428,732 | -59.7% |
| Amounts receivable within one year | 40/41 | €683,774 | €265,680 | -€418,094 | -61.1% |
| Trade receivables | 40 | €613,150 | €3,850 | -€609,300 | -99.4% |
| Other amounts receivable | 41 | €70,624 | €261,830 | +€191,206 | +270.7% |
| Cash at bank and in hand | 54/58 | €19,336 | €9,879 | -€9,457 | -48.9% |
| Deferred charges and accrued income | 490/1 | €15,461 | €14,280 | -€1,181 | -7.6% |
| Total equity and liabilities | 10/49 | €1,935,888 | €1,449,878 | -€486,010 | -25.1% |
| Equity | 10/15 | €406,048 | €477,454 | +€71,406 | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €387,448 | €458,854 | +€71,406 | +18.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €387,448 | €458,854 | +€71,406 | +18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,529,840 | €972,424 | -€557,415 | -36.4% |
| Amounts payable after more than one year | 17 | €585,812 | €513,812 | -€72,000 | -12.3% |
| Financial debts | 170/4 | €585,812 | €513,812 | -€72,000 | -12.3% |
| Amounts payable within one year | 42/48 | €944,028 | €458,613 | -€485,415 | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €76,436 | €72,000 | -€4,436 | -5.8% |
| Financial debts | 43 | €59,058 | €33,740 | -€25,318 | -42.9% |
| Credit institutions | 430/8 | €59,058 | €33,740 | -€25,318 | -42.9% |
| Trade debts | 44 | €37,661 | €10,974 | -€26,687 | -70.9% |
| Suppliers | 440/4 | €37,661 | €10,974 | -€26,687 | -70.9% |
| Advances received on contracts in progress | 46 | €8,453 | €0 | -€8,453 | -100.0% |
| Taxes, remuneration and social security | 45 | €101,473 | €103,501 | +€2,028 | +2.0% |
| Taxes | 450/3 | €97,973 | €103,501 | +€5,528 | +5.6% |
| Remuneration and social security | 454/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts payable | 47/48 | €660,946 | €238,397 | -€422,549 | -63.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,047 | €104,708 | +€12,661 | +13.8% |
| Other operating charges | 640/8 | €3,764 | €29,595 | +€25,831 | +686.2% |
| Non-recurring operating charges | 66A | - | €46,640 | +€46,640 | |
| Gross operating margin | 9900 | €538,321 | €452,921 | -€85,400 | -15.9% |
| Operating profit (loss) | 9901 | €442,510 | €271,978 | -€170,532 | -38.5% |
| Financial income | 75/76B | €50 | €234 | +€184 | +368.7% |
| Recurring financial income | 75 | €50 | €234 | +€184 | +368.7% |
| Financial charges | 65/66B | €15,142 | €17,297 | +€2,155 | +14.2% |
| Recurring financial charges | 65 | €15,142 | €17,297 | +€2,155 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €427,418 | €254,915 | -€172,503 | -40.4% |
| Income taxes | 67/77 | €104,359 | €65,862 | -€38,497 | -36.9% |
| Profit (loss) for the period | 9904 | €323,058 | €189,053 | -€134,006 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €323,058 | €189,053 | -€134,006 | -41.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.