SELUX Benelux: 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.
SELUX Benelux
Largest movements
- Receivables within one year +€295,010
up €295,010 (+103%), from €287,670 to €582,679
of which Trade receivables: +€298,996
- Cash -€80,178
down €80,178 (-62.0%), from €129,248 to €49,070
mainly Receivables within one year (-€295,010) and Tax, wage and social debts (-€42,254)
- Stocks and contracts -€29,101
down €29,101 (-94.9%), from €30,680 to €1,578
- Tangible fixed assets -€7,962
no longer reported in 2025 (was €7,962)
of which Plant, machinery and equipment: -€6,962
- Financial fixed assets -€7,500
down €7,500 (-64.7%), from €11,589 to €4,089
- Trade debts +€111,339
up €111,339 (+8.2%), from €1.4m to €1.5m
- Profit (loss) carried forward +€99,374
up €99,374 (+6.7%), from -€1.5m to -€1.4m
- Tax, wage and social debts -€42,254
down €42,254 (-56.4%), from €74,946 to €32,692
of which Remuneration and social security: -€26,557
- Gross operating margin +€99,696
up €99,696 (+25.3%), from €394,687 to €494,383
- Staff costs -€49,793
down €49,793 (-13.3%), from €374,896 to €325,103
- Other operating charges +€9,701
up €9,701 (+1,719%), from €564 to €10,266
- Financial charges +€8,262
up €8,262 (+18.6%), from €44,360 to €52,622
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 | €470,446 | €638,905 | +€168,460 | +35.8% |
| Fixed assets | 21/28 | €19,552 | €4,089 | -€15,462 | -79.1% |
| Tangible fixed assets | 22/27 | €7,962 | - | -€7,962 | |
| Plant, machinery and equipment | 23 | €6,962 | - | -€6,962 | |
| Furniture and vehicles | 24 | €1,000 | - | -€1,000 | |
| Financial fixed assets | 28 | €11,589 | €4,089 | -€7,500 | -64.7% |
| Current assets | 29/58 | €450,894 | €634,816 | +€183,922 | +40.8% |
| Stocks and contracts in progress | 3 | €30,680 | €1,578 | -€29,101 | -94.9% |
| Stocks | 30/36 | €30,680 | €1,578 | -€29,101 | -94.9% |
| Amounts receivable within one year | 40/41 | €287,670 | €582,679 | +€295,010 | +103% |
| Trade receivables | 40 | €283,684 | €582,679 | +€298,996 | +105% |
| Other amounts receivable | 41 | €3,986 | - | -€3,986 | |
| Cash at bank and in hand | 54/58 | €129,248 | €49,070 | -€80,178 | -62.0% |
| Deferred charges and accrued income | 490/1 | €3,297 | €1,489 | -€1,809 | -54.9% |
| Total equity and liabilities | 10/49 | €470,446 | €638,905 | +€168,460 | +35.8% |
| Equity | 10/15 | -€957,441 | -€858,066 | +€99,374 | +10.4% |
| Contributions | 10/11 | €495,787 | €495,787 | = | 0.0% |
| Capital | 10 | €495,787 | €495,787 | = | 0.0% |
| Issued capital | 100 | €495,787 | €495,787 | = | 0.0% |
| Reserves | 13 | €19,671 | €19,671 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,671 | €19,671 | = | 0.0% |
| Legal reserve | 130 | €19,671 | €19,671 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,472,899 | -€1,373,524 | +€99,374 | +6.7% |
| Amounts payable | 17/49 | €1,427,886 | €1,496,972 | +€69,085 | +4.8% |
| Amounts payable within one year | 42/48 | €1,427,886 | €1,496,972 | +€69,085 | +4.8% |
| Trade debts | 44 | €1,352,941 | €1,464,279 | +€111,339 | +8.2% |
| Suppliers | 440/4 | €1,352,941 | €1,464,279 | +€111,339 | +8.2% |
| Taxes, remuneration and social security | 45 | €74,946 | €32,692 | -€42,254 | -56.4% |
| Taxes | 450/3 | €45,565 | €29,868 | -€15,697 | -34.5% |
| Remuneration and social security | 454/9 | €29,381 | €2,825 | -€26,557 | -90.4% |
| Remuneration, social security and pensions | 62 | €374,896 | €325,103 | -€49,793 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,747 | €1,000 | -€2,747 | -73.3% |
| Other operating charges | 640/8 | €564 | €10,266 | +€9,701 | +1,719% |
| Non-recurring operating charges | 66A | - | €6,962 | +€6,962 | |
| Gross operating margin | 9900 | €394,687 | €494,383 | +€99,696 | +25.3% |
| Operating profit (loss) | 9901 | €15,480 | €151,052 | +€135,572 | +876% |
| Financial income | 75/76B | €25 | €944 | +€919 | +3,708% |
| Recurring financial income | 75 | €25 | €944 | +€919 | +3,708% |
| Financial charges | 65/66B | €44,360 | €52,622 | +€8,262 | +18.6% |
| Recurring financial charges | 65 | €44,360 | €52,622 | +€8,262 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,855 | €99,374 | +€128,230 | |
| Income taxes | 67/77 | -€129 | - | +€129 | |
| Profit (loss) for the period | 9904 | -€28,726 | €99,374 | +€128,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,726 | €99,374 | +€128,101 |
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 27 October 2026 via checked.be.