SERGIO SILVA: 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.
SERGIO SILVA
Largest movements
- Cash +€6,028
up €6,028 (+374.2%), from €1,611 to €7,639
mainly Trade debts (+€11,331) and Depreciation (+€983)
- Receivables within one year +€4,869
up €4,869 (+47.2%), from €10,311 to €15,180
of which Trade receivables: +€5,740
- Tangible fixed assets -€983
down €983 (-56.1%), from €1,754 to €771
- Deferred charges and accrued income +€541
new in 2025: €541
- Trade debts +€11,331
up €11,331 (+5698.8%), from €199 to €11,530
- Tax, wage and social debts -€1,242
down €1,242 (-40.8%), from €3,047 to €1,806
- Profit (loss) carried forward +€365
up €365 (+3.9%), from €9,430 to €9,795
- Gross operating margin -€4,980
down €4,980 (-69.2%), from €7,198 to €2,219
- Taxes -€980
down €980 (-73.4%), from €1,334 to €354
- Other operating charges +€74
up €74 (+24.7%), from €300 to €374
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 | €13,676 | €24,130 | +€10,454 | +76.4% |
| Fixed assets | 21/28 | €1,754 | €771 | -€983 | -56.1% |
| Tangible fixed assets | 22/27 | €1,754 | €771 | -€983 | -56.1% |
| Furniture and vehicles | 24 | €1,754 | €771 | -€983 | -56.1% |
| Current assets | 29/58 | €11,923 | €23,360 | +€11,437 | +95.9% |
| Amounts receivable within one year | 40/41 | €10,311 | €15,180 | +€4,869 | +47.2% |
| Trade receivables | 40 | €8,040 | €13,780 | +€5,740 | +71.4% |
| Other amounts receivable | 41 | €2,271 | €1,400 | -€871 | -38.3% |
| Cash at bank and in hand | 54/58 | €1,611 | €7,639 | +€6,028 | +374.2% |
| Deferred charges and accrued income | 490/1 | - | €541 | +€541 | |
| Total equity and liabilities | 10/49 | €13,676 | €24,130 | +€10,454 | +76.4% |
| Equity | 10/15 | €10,430 | €10,795 | +€365 | +3.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,430 | €9,795 | +€365 | +3.9% |
| Amounts payable | 17/49 | €3,246 | €13,335 | +€10,089 | +310.8% |
| Amounts payable within one year | 42/48 | €3,246 | €13,335 | +€10,089 | +310.8% |
| Trade debts | 44 | €199 | €11,530 | +€11,331 | +5698.8% |
| Suppliers | 440/4 | €199 | €11,530 | +€11,331 | +5698.8% |
| Taxes, remuneration and social security | 45 | €3,047 | €1,806 | -€1,242 | -40.8% |
| Taxes | 450/3 | €3,047 | €1,806 | -€1,242 | -40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €983 | €983 | = | 0.0% |
| Other operating charges | 640/8 | €300 | €374 | +€74 | +24.7% |
| Gross operating margin | 9900 | €7,198 | €2,219 | -€4,980 | -69.2% |
| Operating profit (loss) | 9901 | €5,915 | €862 | -€5,053 | -85.4% |
| Financial income | 75/76B | €68 | €53 | -€15 | -21.5% |
| Recurring financial income | 75 | €68 | €53 | -€15 | -21.5% |
| Financial charges | 65/66B | €181 | €195 | +€15 | +8.3% |
| Recurring financial charges | 65 | €181 | €195 | +€15 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €5,802 | €719 | -€5,083 | -87.6% |
| Income taxes | 67/77 | €1,334 | €354 | -€980 | -73.4% |
| Profit (loss) for the period | 9904 | €4,468 | €365 | -€4,103 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,468 | €365 | -€4,103 | -91.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.