SELVER: 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.
SELVER
Largest movements
- Receivables within one year +€14,614
up €14,614 (+4.4%), from €330,297 to €344,911
- Cash -€7,511
down €7,511 (-94.3%), from €7,966 to €455
mainly Receivables within one year (-€14,614) and Deferred charges and accrued income (-€4,110)
- Deferred charges and accrued income +€4,110
up €4,110 (+24.2%), from €16,975 to €21,085
- Reserves +€12,900
up €12,900 (+4.7%), from €274,650 to €287,550
of which Distributable reserves: +€12,900
- Financial income +€3,875
up €3,875 (+22.5%), from €17,217 to €21,092
- Gross operating margin +€2,552
up €2,552 (+86.2%), from -€2,961 to -€409
- Taxes +€2,339
up €2,339 (+54.8%), from €4,271 to €6,610
- Depreciation -€96
no longer reported in 2025 (was €96)
- Other operating charges -€90
down €90 (-9.0%), from €1,001 to €910
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 | €355,238 | €366,451 | +€11,213 | +3.2% |
| Current assets | 29/58 | €355,238 | €366,451 | +€11,213 | +3.2% |
| Amounts receivable within one year | 40/41 | €330,297 | €344,911 | +€14,614 | +4.4% |
| Other amounts receivable | 41 | €330,297 | €344,911 | +€14,614 | +4.4% |
| Cash at bank and in hand | 54/58 | €7,966 | €455 | -€7,511 | -94.3% |
| Deferred charges and accrued income | 490/1 | €16,975 | €21,085 | +€4,110 | +24.2% |
| Total equity and liabilities | 10/49 | €355,238 | €366,451 | +€11,213 | +3.2% |
| Equity | 10/15 | €338,520 | €351,427 | +€12,907 | +3.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €274,650 | €287,550 | +€12,900 | +4.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €268,500 | €281,400 | +€12,900 | +4.8% |
| Profit (loss) carried forward | 14 | €2,370 | €2,377 | +€7 | +0.3% |
| Amounts payable | 17/49 | €16,718 | €15,024 | -€1,694 | -10.1% |
| Amounts payable within one year | 42/48 | €16,393 | €14,530 | -€1,864 | -11.4% |
| Trade debts | 44 | €7,278 | €7,452 | +€173 | +2.4% |
| Suppliers | 440/4 | €7,278 | €7,452 | +€173 | +2.4% |
| Taxes, remuneration and social security | 45 | €9,115 | €7,078 | -€2,037 | -22.3% |
| Taxes | 450/3 | €9,115 | €7,078 | -€2,037 | -22.3% |
| Accrued charges and deferred income | 492/3 | €325 | €494 | +€169 | +52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96 | - | -€96 | |
| Other operating charges | 640/8 | €1,001 | €910 | -€90 | -9.0% |
| Gross operating margin | 9900 | -€2,961 | -€409 | +€2,552 | +86.2% |
| Operating profit (loss) | 9901 | -€4,058 | -€1,319 | +€2,739 | +67.5% |
| Financial income | 75/76B | €17,217 | €21,092 | +€3,875 | +22.5% |
| Recurring financial income | 75 | €17,217 | €21,092 | +€3,875 | +22.5% |
| Financial charges | 65/66B | €321 | €256 | -€65 | -20.2% |
| Recurring financial charges | 65 | €321 | €256 | -€65 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €12,838 | €19,517 | +€6,679 | +52.0% |
| Income taxes | 67/77 | €4,271 | €6,610 | +€2,339 | +54.8% |
| Profit (loss) for the period | 9904 | €8,567 | €12,907 | +€4,340 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,567 | €12,907 | +€4,340 | +50.7% |
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 30 September 2026 via checked.be.