SILEPA: 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.
SILEPA
Largest movements
- Receivables within one year -€423,922
down €423,922 (-98.9%), from €428,723 to €4,801
of which Other amounts receivable: -€423,922
- Cash +€290,520
up €290,520 (+195%), from €149,252 to €439,771
mainly Receivables within one year (+€423,922) and Current portion of long-term debt (+€308,502)
- Tangible fixed assets +€115,499
up €115,499 (+2.5%), from €4.5m to €4.6m
of which Other tangible fixed assets: +€76,734
- Debts after one year -€738,391
down €738,391 (-19.5%), from €3.8m to €3.0m
of which Financial debts: -€538,391
- Reserves +€385,118
up €385,118 (+1,635%), from €23,552 to €408,670
of which Tax-exempt reserves: +€385,118
- Current portion of long-term debt +€308,502
up €308,502 (+220%), from €140,353 to €448,856
- Provisions +€128,373
new in 2025: €128,373
- Profit (loss) carried forward -€100,136
new in 2025: -€100,136
- Gross operating margin +€350,054
up €350,054 (+72.0%), from €486,134 to €836,188
- Depreciation +€98,467
up €98,467 (+61.6%), from €159,874 to €258,342
- Other operating charges -€13,239
down €13,239 (-34.4%), from €38,432 to €25,193
- Financial income +€11,493
up €11,493 (+371%), from €3,096 to €14,589
- Taxes -€11,447
down €11,447 (-99.3%), from €11,529 to €82
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 | €5,119,153 | €5,100,478 | -€18,676 | -0.4% |
| Fixed assets | 21/28 | €4,535,699 | €4,651,198 | +€115,499 | +2.5% |
| Tangible fixed assets | 22/27 | €4,533,274 | €4,648,773 | +€115,499 | +2.5% |
| Land and buildings | 22 | €4,466,191 | €4,506,151 | +€39,961 | +0.9% |
| Plant, machinery and equipment | 23 | €2,749 | €2,199 | -€550 | -20.0% |
| Furniture and vehicles | 24 | €1,490 | €845 | -€646 | -43.3% |
| Other tangible fixed assets | 26 | €62,843 | €139,577 | +€76,734 | +122% |
| Financial fixed assets | 28 | €2,425 | €2,425 | = | 0.0% |
| Current assets | 29/58 | €583,455 | €449,280 | -€134,175 | -23.0% |
| Amounts receivable within one year | 40/41 | €428,723 | €4,801 | -€423,922 | -98.9% |
| Trade receivables | 40 | €4,000 | €4,000 | = | 0.0% |
| Other amounts receivable | 41 | €424,723 | €801 | -€423,922 | -99.8% |
| Cash at bank and in hand | 54/58 | €149,252 | €439,771 | +€290,520 | +195% |
| Deferred charges and accrued income | 490/1 | €5,480 | €4,708 | -€772 | -14.1% |
| Total equity and liabilities | 10/49 | €5,119,153 | €5,100,478 | -€18,676 | -0.4% |
| Equity | 10/15 | €1,168,552 | €1,453,534 | +€284,982 | +24.4% |
| Contributions | 10/11 | €1,145,000 | €1,145,000 | = | 0.0% |
| Reserves | 13 | €23,552 | €408,670 | +€385,118 | +1,635% |
| Tax-exempt reserves | 132 | - | €385,118 | +€385,118 | |
| Distributable reserves | 133 | €23,552 | €23,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€100,136 | -€100,136 | |
| Provisions and deferred taxes | 16 | - | €128,373 | +€128,373 | |
| Deferred taxes | 168 | - | €128,373 | +€128,373 | |
| Amounts payable | 17/49 | €3,950,601 | €3,518,571 | -€432,031 | -10.9% |
| Amounts payable after more than one year | 17 | €3,783,332 | €3,044,941 | -€738,391 | -19.5% |
| Financial debts | 170/4 | €1,877,132 | €1,338,741 | -€538,391 | -28.7% |
| Other amounts payable | 178/9 | €1,906,200 | €1,706,200 | -€200,000 | -10.5% |
| Amounts payable within one year | 42/48 | €165,709 | €472,070 | +€306,361 | +185% |
| Current portion of amounts payable after more than one year | 42 | €140,353 | €448,856 | +€308,502 | +220% |
| Trade debts | 44 | €4,024 | €962 | -€3,062 | -76.1% |
| Suppliers | 440/4 | €4,024 | €962 | -€3,062 | -76.1% |
| Taxes, remuneration and social security | 45 | €10,205 | €6,118 | -€4,087 | -40.1% |
| Taxes | 450/3 | €10,205 | €6,118 | -€4,087 | -40.1% |
| Other amounts payable | 47/48 | €11,127 | €16,135 | +€5,008 | +45.0% |
| Accrued charges and deferred income | 492/3 | €1,560 | €1,560 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,874 | €258,342 | +€98,467 | +61.6% |
| Other operating charges | 640/8 | €38,432 | €25,193 | -€13,239 | -34.4% |
| Gross operating margin | 9900 | €486,134 | €836,188 | +€350,054 | +72.0% |
| Operating profit (loss) | 9901 | €287,828 | €552,654 | +€264,826 | +92.0% |
| Financial income | 75/76B | €3,096 | €14,589 | +€11,493 | +371% |
| Recurring financial income | 75 | €3,096 | €14,589 | +€11,493 | +371% |
| Financial charges | 65/66B | €159,158 | €153,806 | -€5,352 | -3.4% |
| Recurring financial charges | 65 | €159,158 | €153,806 | -€5,352 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €131,766 | €413,437 | +€281,671 | +214% |
| Transfer to deferred taxes | 680 | - | €128,373 | +€128,373 | |
| Income taxes | 67/77 | €11,529 | €82 | -€11,447 | -99.3% |
| Profit (loss) for the period | 9904 | €120,237 | €284,982 | +€164,745 | +137% |
| Transfer to tax-exempt reserves | 689 | - | €385,118 | +€385,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,237 | -€100,136 | -€220,373 |
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 30 October 2026 via checked.be.