SILESAM: 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.
SILESAM
Largest movements
- Financial fixed assets +€4.9m
up €4.9m (+29.0%), from €16.8m to €21.7m
- Receivables within one year +€789,775
up €789,775 (+10.6%), from €7.4m to €8.2m
of which Other amounts receivable: +€794,160
- Short-term financial debts +€5.2m
new in 2025: €5.2m
- Debts after one year -€3.2m
no longer reported in 2025 (was €3.2m)
of which Financial debts: -€2.6m
- Reserves +€2.8m
up €2.8m (+14.6%), from €19.4m to €22.2m
of which Distributable reserves: +€2.8m
- Other debts +€517,000
new in 2025: €517,000
- Financial income +€6.3m
up €6.3m (+3352.6%), from €188,201 to €6.5m
of which Non-recurring financial income: +€6.0m
- Financial charges +€386,356
up €386,356 (+208.5%), from €185,300 to €571,657
of which Non-recurring financial charges: +€400,000
- Gross operating margin -€272,640
down €272,640 (-37.8%), from €721,186 to €448,546
- Taxes -€28,250
down €28,250 (-95.9%), from €29,458 to €1,208
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 | €37,245,711 | €42,501,453 | +€5.3m | +14.1% |
| Fixed assets | 21/28 | €27,777,649 | €32,395,236 | +€4.6m | +16.6% |
| Tangible fixed assets | 22/27 | €10,953,252 | €10,686,913 | -€266,339 | -2.4% |
| Land and buildings | 22 | €9,989,870 | €9,755,522 | -€234,348 | -2.3% |
| Furniture and vehicles | 24 | €963,382 | €931,391 | -€31,991 | -3.3% |
| Financial fixed assets | 28 | €16,824,397 | €21,708,323 | +€4.9m | +29.0% |
| Current assets | 29/58 | €9,468,062 | €10,106,217 | +€638,155 | +6.7% |
| Amounts receivable within one year | 40/41 | €7,442,628 | €8,232,402 | +€789,775 | +10.6% |
| Trade receivables | 40 | €85,467 | €81,082 | -€4,385 | -5.1% |
| Other amounts receivable | 41 | €7,357,160 | €8,151,320 | +€794,160 | +10.8% |
| Current investments | 50/53 | €1,722,640 | €1,722,640 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €302,795 | €151,175 | -€151,620 | -50.1% |
| Total equity and liabilities | 10/49 | €37,245,711 | €42,501,453 | +€5.3m | +14.1% |
| Equity | 10/15 | €33,801,196 | €36,628,987 | +€2.8m | +8.4% |
| Contributions | 10/11 | €14,400,000 | €14,400,000 | = | 0.0% |
| Capital | 10 | €14,400,000 | €14,400,000 | = | 0.0% |
| Issued capital | 100 | €14,400,000 | €14,400,000 | = | 0.0% |
| Reserves | 13 | €19,401,196 | €22,228,987 | +€2.8m | +14.6% |
| Non-distributable reserves | 130/1 | €1,440,000 | €1,440,000 | = | 0.0% |
| Legal reserve | 130 | €1,440,000 | €1,440,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €276,490 | €265,576 | -€10,914 | -3.9% |
| Distributable reserves | 133 | €17,684,706 | €20,523,411 | +€2.8m | +16.1% |
| Provisions and deferred taxes | 16 | €118,496 | €113,818 | -€4,677 | -3.9% |
| Deferred taxes | 168 | €118,496 | €113,818 | -€4,677 | -3.9% |
| Amounts payable | 17/49 | €3,326,018 | €5,758,648 | +€2.4m | +73.1% |
| Amounts payable after more than one year | 17 | €3,186,624 | - | -€3.2m | |
| Financial debts | 170/4 | €2,618,750 | - | -€2.6m | |
| Other amounts payable | 178/9 | €567,874 | - | -€567,874 | |
| Amounts payable within one year | 42/48 | €111,381 | €5,758,648 | +€5.6m | +5070.2% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €18,750 | -€56,250 | -75.0% |
| Financial debts | 43 | - | €5,150,000 | +€5.2m | |
| Credit institutions | 430/8 | - | €5,150,000 | +€5.2m | |
| Trade debts | 44 | €3,586 | €24,738 | +€21,153 | +589.9% |
| Suppliers | 440/4 | €3,586 | €24,738 | +€21,153 | +589.9% |
| Taxes, remuneration and social security | 45 | €32,795 | €48,160 | +€15,364 | +46.8% |
| Taxes | 450/3 | €32,795 | €48,160 | +€15,364 | +46.8% |
| Other amounts payable | 47/48 | - | €517,000 | +€517,000 | |
| Accrued charges and deferred income | 492/3 | €28,013 | - | -€28,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,796 | €330,394 | +€3,597 | +1.1% |
| Other operating charges | 640/8 | €17,507 | €19,933 | +€2,426 | +13.9% |
| Gross operating margin | 9900 | €721,186 | €448,546 | -€272,640 | -37.8% |
| Operating profit (loss) | 9901 | €376,882 | €98,219 | -€278,664 | -73.9% |
| Financial income | 75/76B | €188,201 | €6,497,759 | +€6.3m | +3352.6% |
| Recurring financial income | 75 | €188,201 | €511,834 | +€323,633 | +172.0% |
| Non-recurring financial income | 76B | - | €5,985,925 | +€6.0m | |
| Financial charges | 65/66B | €185,300 | €571,657 | +€386,356 | +208.5% |
| Recurring financial charges | 65 | €185,300 | €171,657 | -€13,644 | -7.4% |
| Non-recurring financial charges | 66B | - | €400,000 | +€400,000 | |
| Profit (loss) for the period before taxes | 9903 | €379,783 | €6,024,321 | +€5.6m | +1486.3% |
| Transfer from deferred taxes | 780 | €4,677 | €4,677 | = | 0.0% |
| Income taxes | 67/77 | €29,458 | €1,208 | -€28,250 | -95.9% |
| Profit (loss) for the period | 9904 | €355,002 | €6,027,790 | +€5.7m | +1598.0% |
| Transfer from tax-exempt reserves | 789 | €10,914 | €10,914 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €365,916 | €6,038,704 | +€5.7m | +1550.3% |
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 5 October 2026 via checked.be.