SIL MANAGEMENT: 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.
SIL MANAGEMENT
Largest movements
- Tangible fixed assets +€46,485
up €46,485 (+410.8%), from €11,315 to €57,800
- Receivables within one year -€4,405
down €4,405 (-54.0%), from €8,162 to €3,757
- Cash +€2,079
up €2,079 (+2.8%), from €74,827 to €76,906
mainly Net result for the year (+€56,606) and Debts after one year (+€40,048)
- Debts after one year +€40,048
new in 2025: €40,048
- Other debts -€12,602
down €12,602 (-29.6%), from €42,590 to €29,987
- Current portion of long-term debt +€11,448
new in 2025: €11,448
- Tax, wage and social debts +€4,535
up €4,535 (+17.0%), from €26,618 to €31,153
of which Taxes: +€2,557
- Trade debts +€1,889
up €1,889 (+97.9%), from €1,929 to €3,818
- Depreciation +€9,479
up €9,479 (+358.1%), from €2,647 to €12,126
- Taxes -€2,709
down €2,709 (-15.2%), from €17,804 to €15,095
- Gross operating margin +€2,243
up €2,243 (+2.7%), from €84,110 to €86,353
- Financial charges +€1,335
up €1,335 (+578.6%), from €231 to €1,565
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 | €94,303 | €138,487 | +€44,184 | +46.9% |
| Fixed assets | 21/28 | €11,315 | €57,800 | +€46,485 | +410.8% |
| Tangible fixed assets | 22/27 | €11,315 | €57,800 | +€46,485 | +410.8% |
| Furniture and vehicles | 24 | €11,315 | €57,800 | +€46,485 | +410.8% |
| Current assets | 29/58 | €82,989 | €80,687 | -€2,302 | -2.8% |
| Amounts receivable within one year | 40/41 | €8,162 | €3,757 | -€4,405 | -54.0% |
| Trade receivables | 40 | €8,162 | €3,757 | -€4,405 | -54.0% |
| Cash at bank and in hand | 54/58 | €74,827 | €76,906 | +€2,079 | +2.8% |
| Deferred charges and accrued income | 490/1 | - | €25 | +€25 | |
| Total equity and liabilities | 10/49 | €94,303 | €138,487 | +€44,184 | +46.9% |
| Equity | 10/15 | €23,166 | €21,773 | -€1,394 | -6.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,706 | €1,313 | -€1,394 | -51.5% |
| Amounts payable | 17/49 | €71,137 | €116,715 | +€45,578 | +64.1% |
| Amounts payable after more than one year | 17 | - | €40,048 | +€40,048 | |
| Financial debts | 170/4 | - | €40,048 | +€40,048 | |
| Amounts payable within one year | 42/48 | €71,137 | €76,406 | +€5,269 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,448 | +€11,448 | |
| Trade debts | 44 | €1,929 | €3,818 | +€1,889 | +97.9% |
| Suppliers | 440/4 | €1,929 | €3,818 | +€1,889 | +97.9% |
| Taxes, remuneration and social security | 45 | €26,618 | €31,153 | +€4,535 | +17.0% |
| Taxes | 450/3 | €26,618 | €29,175 | +€2,557 | +9.6% |
| Remuneration and social security | 454/9 | - | €1,978 | +€1,978 | |
| Other amounts payable | 47/48 | €42,590 | €29,987 | -€12,602 | -29.6% |
| Accrued charges and deferred income | 492/3 | - | €261 | +€261 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,647 | €12,126 | +€9,479 | +358.1% |
| Other operating charges | 640/8 | €986 | €961 | -€25 | -2.6% |
| Gross operating margin | 9900 | €84,110 | €86,353 | +€2,243 | +2.7% |
| Operating profit (loss) | 9901 | €80,477 | €73,266 | -€7,211 | -9.0% |
| Financial income | 75/76B | €14 | - | -€14 | |
| Recurring financial income | 75 | €14 | - | -€14 | |
| Financial charges | 65/66B | €231 | €1,565 | +€1,335 | +578.6% |
| Recurring financial charges | 65 | €231 | €1,565 | +€1,335 | +578.6% |
| Profit (loss) for the period before taxes | 9903 | €80,260 | €71,701 | -€8,559 | -10.7% |
| Income taxes | 67/77 | €17,804 | €15,095 | -€2,709 | -15.2% |
| Profit (loss) for the period | 9904 | €62,457 | €56,606 | -€5,850 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,457 | €56,606 | -€5,850 | -9.4% |
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 3 October 2026 via checked.be.