SELTIM: what changed
Two fiscal 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.
SELTIM
Largest movements
- Stocks and contracts +€317,122
up €317,122 (+219.6%), from €144,409 to €461,531
- Receivables within one year +€185,568
up €185,568 (+54.7%), from €339,253 to €524,821
of which Trade receivables: +€248,430
- Current investments +€155,000
new in 2025: €155,000
- Cash +€144,388
up €144,388 (+26.0%), from €555,242 to €699,631
mainly Net result for the year (+€1.0m) and Other debts (+€730,127)
- Tangible fixed assets +€91,800
up €91,800 (+11.8%), from €776,334 to €868,134
of which Plant, machinery and equipment: +€119,915
- Other debts +€730,127
up €730,127 (+177.4%), from €411,607 to €1.1m
- Tax, wage and social debts +€303,482
new in 2025: €303,482
of which Taxes: +€300,619
- Reserves -€99,557
down €99,557 (-8.8%), from €1.1m to €1.0m
- Gross operating margin +€447,131
up €447,131 (+36.8%), from €1.2m to €1.7m
- Taxes +€211,072
up €211,072 (+75.3%), from €280,130 to €491,202
- Depreciation +€53,049
up €53,049 (+104.5%), from €50,786 to €103,835
- Staff costs +€31,049
new in 2025: €31,049
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 | €1,817,664 | €2,712,072 | +€894,409 | +49.2% |
| Fixed assets | 21/28 | €776,469 | €868,269 | +€91,800 | +11.8% |
| Tangible fixed assets | 22/27 | €776,334 | €868,134 | +€91,800 | +11.8% |
| Land and buildings | 22 | €182,768 | €174,748 | -€8,021 | -4.4% |
| Plant, machinery and equipment | 23 | €503,340 | €623,255 | +€119,915 | +23.8% |
| Furniture and vehicles | 24 | €90,225 | €70,132 | -€20,093 | -22.3% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €1,041,195 | €1,843,803 | +€802,608 | +77.1% |
| Stocks and contracts in progress | 3 | €144,409 | €461,531 | +€317,122 | +219.6% |
| Stocks | 30/36 | €144,409 | €461,531 | +€317,122 | +219.6% |
| Amounts receivable within one year | 40/41 | €339,253 | €524,821 | +€185,568 | +54.7% |
| Trade receivables | 40 | €276,295 | €524,726 | +€248,430 | +89.9% |
| Other amounts receivable | 41 | €62,958 | €95 | -€62,863 | -99.8% |
| Current investments | 50/53 | - | €155,000 | +€155,000 | |
| Cash at bank and in hand | 54/58 | €555,242 | €699,631 | +€144,388 | +26.0% |
| Deferred charges and accrued income | 490/1 | €2,290 | €2,820 | +€530 | +23.1% |
| Total equity and liabilities | 10/49 | €1,817,664 | €2,712,072 | +€894,409 | +49.2% |
| Equity | 10/15 | €1,134,902 | €1,035,345 | -€99,557 | -8.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,129,902 | €1,030,345 | -€99,557 | -8.8% |
| Distributable reserves | 133 | €1,129,902 | €1,030,345 | -€99,557 | -8.8% |
| Amounts payable | 17/49 | €682,762 | €1,676,727 | +€993,965 | +145.6% |
| Amounts payable after more than one year | 17 | €90,000 | €75,000 | -€15,000 | -16.7% |
| Financial debts | 170/4 | €90,000 | €75,000 | -€15,000 | -16.7% |
| Amounts payable within one year | 42/48 | €590,487 | €1,598,951 | +€1.0m | +170.8% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 43 | €2,770 | €2,502 | -€268 | -9.7% |
| Credit institutions | 430/8 | €2,770 | €2,502 | -€268 | -9.7% |
| Trade debts | 44 | €161,110 | €136,233 | -€24,877 | -15.4% |
| Suppliers | 440/4 | €161,110 | €136,233 | -€24,877 | -15.4% |
| Taxes, remuneration and social security | 45 | - | €303,482 | +€303,482 | |
| Taxes | 450/3 | - | €300,619 | +€300,619 | |
| Remuneration and social security | 454/9 | - | €2,863 | +€2,863 | |
| Other amounts payable | 47/48 | €411,607 | €1,141,734 | +€730,127 | +177.4% |
| Accrued charges and deferred income | 492/3 | €2,275 | €2,776 | +€501 | +22.0% |
| Remuneration, social security and pensions | 62 | - | €31,049 | +€31,049 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,786 | €103,835 | +€53,049 | +104.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€324 | -€324 | |
| Other operating charges | 640/8 | €22,426 | €11,747 | -€10,680 | -47.6% |
| Gross operating margin | 9900 | €1,216,442 | €1,663,573 | +€447,131 | +36.8% |
| Operating profit (loss) | 9901 | €1,143,230 | €1,517,266 | +€374,036 | +32.7% |
| Financial income | 75/76B | €1,982 | €6,725 | +€4,742 | +239.2% |
| Recurring financial income | 75 | €1,982 | €6,725 | +€4,742 | +239.2% |
| Financial charges | 65/66B | €2,108 | €2,443 | +€335 | +15.9% |
| Recurring financial charges | 65 | €2,108 | €2,443 | +€335 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €1,143,105 | €1,521,547 | +€378,443 | +33.1% |
| Income taxes | 67/77 | €280,130 | €491,202 | +€211,072 | +75.3% |
| Profit (loss) for the period | 9904 | €862,974 | €1,030,345 | +€167,371 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €862,974 | €1,030,345 | +€167,371 | +19.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.