SILEX: 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.
SILEX
Largest movements
- Cash -€103,599
down €103,599 (-45.6%), from €227,106 to €123,507
mainly Contributions, distributions and other (-€167,273) and Debts after one year (-€38,899)
- Tangible fixed assets -€40,982
down €40,982 (-10.7%), from €381,642 to €340,660
of which Furniture and vehicles: -€26,036
- Receivables within one year -€38,259
down €38,259 (-33.4%), from €114,476 to €76,217
of which Trade receivables: -€29,431
- Stocks and contracts +€22,878
up €22,878 (+15.4%), from €148,738 to €171,616
- Deferred charges and accrued income -€10,651
down €10,651 (-91.8%), from €11,605 to €954
- Reserves -€134,473
down €134,473 (-21.7%), from €619,309 to €484,836
of which Distributable reserves: -€134,473
- Debts after one year -€38,899
down €38,899 (-13.7%), from €283,298 to €244,399
- Gross operating margin -€17,781
down €17,781 (-8.0%), from €222,963 to €205,182
- Staff costs +€9,002
up €9,002 (+8.7%), from €103,227 to €112,229
- Depreciation -€7,941
down €7,941 (-16.2%), from €48,908 to €40,968
- Taxes -€5,328
down €5,328 (-27.2%), from €19,554 to €14,226
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 | €996,291 | €825,679 | -€170,612 | -17.1% |
| Fixed assets | 21/28 | €381,642 | €340,660 | -€40,982 | -10.7% |
| Tangible fixed assets | 22/27 | €381,642 | €340,660 | -€40,982 | -10.7% |
| Land and buildings | 22 | €309,042 | €297,104 | -€11,938 | -3.9% |
| Plant, machinery and equipment | 23 | €3,319 | €700 | -€2,619 | -78.9% |
| Furniture and vehicles | 24 | €68,430 | €42,394 | -€26,036 | -38.0% |
| Leasing and similar rights | 25 | €14 | €0 | -€14 | -100.0% |
| Other tangible fixed assets | 26 | €836 | €463 | -€374 | -44.7% |
| Current assets | 29/58 | €614,649 | €485,019 | -€129,630 | -21.1% |
| Amounts receivable after more than one year | 29 | €112,725 | €112,725 | = | 0.0% |
| Other amounts receivable | 291 | €112,725 | €112,725 | = | 0.0% |
| Stocks and contracts in progress | 3 | €148,738 | €171,616 | +€22,878 | +15.4% |
| Stocks | 30/36 | €148,738 | €171,616 | +€22,878 | +15.4% |
| Amounts receivable within one year | 40/41 | €114,476 | €76,217 | -€38,259 | -33.4% |
| Trade receivables | 40 | €57,107 | €27,676 | -€29,431 | -51.5% |
| Other amounts receivable | 41 | €57,369 | €48,541 | -€8,827 | -15.4% |
| Cash at bank and in hand | 54/58 | €227,106 | €123,507 | -€103,599 | -45.6% |
| Deferred charges and accrued income | 490/1 | €11,605 | €954 | -€10,651 | -91.8% |
| Total equity and liabilities | 10/49 | €996,291 | €825,679 | -€170,612 | -17.1% |
| Equity | 10/15 | €633,415 | €499,003 | -€134,412 | -21.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €619,309 | €484,836 | -€134,473 | -21.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €617,449 | €482,976 | -€134,473 | -21.8% |
| Profit (loss) carried forward | 14 | €1,706 | €1,766 | +€60 | +3.5% |
| Amounts payable | 17/49 | €362,876 | €326,676 | -€36,200 | -10.0% |
| Amounts payable after more than one year | 17 | €283,298 | €244,399 | -€38,899 | -13.7% |
| Financial debts | 170/4 | €283,298 | €244,399 | -€38,899 | -13.7% |
| Amounts payable within one year | 42/48 | €73,249 | €77,658 | +€4,409 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €46,432 | €42,104 | -€4,328 | -9.3% |
| Trade debts | 44 | €4,955 | €8,652 | +€3,697 | +74.6% |
| Suppliers | 440/4 | €4,955 | €8,652 | +€3,697 | +74.6% |
| Taxes, remuneration and social security | 45 | €21,862 | €26,902 | +€5,040 | +23.1% |
| Taxes | 450/3 | €14,708 | €13,781 | -€927 | -6.3% |
| Remuneration and social security | 454/9 | €7,154 | €13,121 | +€5,967 | +83.4% |
| Accrued charges and deferred income | 492/3 | €6,328 | €4,619 | -€1,709 | -27.0% |
| Non-recurring operating income | 76A | - | €2,052 | +€2,052 | |
| Remuneration, social security and pensions | 62 | €103,227 | €112,229 | +€9,002 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,908 | €40,968 | -€7,941 | -16.2% |
| Other operating charges | 640/8 | €2,525 | €3,546 | +€1,021 | +40.4% |
| Gross operating margin | 9900 | €222,963 | €205,182 | -€17,781 | -8.0% |
| Operating profit (loss) | 9901 | €68,302 | €48,439 | -€19,863 | -29.1% |
| Financial income | 75/76B | €5,479 | €4,356 | -€1,123 | -20.5% |
| Recurring financial income | 75 | €5,479 | €4,356 | -€1,123 | -20.5% |
| Financial charges | 65/66B | €6,226 | €5,709 | -€518 | -8.3% |
| Recurring financial charges | 65 | €6,226 | €5,709 | -€518 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €67,555 | €47,086 | -€20,469 | -30.3% |
| Income taxes | 67/77 | €19,554 | €14,226 | -€5,328 | -27.2% |
| Profit (loss) for the period | 9904 | €48,001 | €32,860 | -€15,141 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,001 | €32,860 | -€15,141 | -31.5% |
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 9 October 2026 via checked.be.