SILK ROAD: 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.
What changed
SILK ROAD
NACE 46.861, Wholesale of diamonds and other precious stones
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€101,689
2024 · €164,109-€265,797
Equity
€2.6m
2024 · €2.7m-€101,689
Cash
€3,863
2024 · €8,835-€4,972
Balance sheet total
€3.6m
2024 · €3.8m-€214,902
Largest movements
Assets
- Receivables after one year -€215,799
down €215,799 (-28.4%), from €760,812 to €545,013
Equity and liabilities
- Reserves -€101,689
down €101,689 (-3.8%), from €2.7m to €2.6m
of which Distributable reserves: -€101,689
- Debts after one year -€63,106
down €63,106 (-11.5%), from €547,320 to €484,214
of which Financial debts: -€63,106
Income statement
- Gross operating margin -€219,378
down €219,378, from €188,541 to -€30,837
- Financial charges +€197,079
up €197,079 (+649%), from €30,353 to €227,431
- Financial income +€130,576
up €130,576 (+228%), from €57,346 to €187,923
- Depreciation -€13,095
down €13,095 (-64.9%), from €20,179 to €7,084
- Staff costs -€3,511
down €3,511 (-14.9%), from €23,519 to €20,008
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.
Result 2024
€164,109
Gross operating margin
-€219,378
Staff costs
+€3,511
Depreciation
+€13,095
Other operating charges
+€71
Financial income
+€130,576
Financial charges
-€197,079
Taxes
+€3,406
Result 2025
-€101,689
raises the resultlowers the result
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.
From operations
+€76,012
Investment
€0
Financing
-€80,984
Cash 2024
€8,835
From operations (derived)
+€76,012
Net result for the year
-€101,689
Depreciation
+€7,084
Receivables after one year
+€215,799
Receivables within one year
-€14,198
Deferred charges and accrued income
+€1,244
Trade debts
-€7,950
Tax, wage and social debts
-€9,020
Other debts
+€18,351
Accrued charges and deferred income
-€33,610
Financing
-€80,984
Debts after one year
-€63,106
Current portion of long-term debt
-€17,839
Short-term financial debts
-€39
Cash 2025
€3,863
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,848,092 | €3,633,191 | -€214,902 | -5.6% |
| Fixed assets | 21/28 | €166,094 | €159,010 | -€7,084 | -4.3% |
| Tangible fixed assets | 22/27 | €29,374 | €22,290 | -€7,084 | -24.1% |
| Plant, machinery and equipment | 23 | €5,729 | €4,368 | -€1,361 | -23.8% |
| Furniture and vehicles | 24 | €23,644 | €17,921 | -€5,723 | -24.2% |
| Financial fixed assets | 28 | €136,720 | €136,720 | = | 0.0% |
| Current assets | 29/58 | €3,681,998 | €3,474,180 | -€207,818 | -5.6% |
| Amounts receivable after more than one year | 29 | €760,812 | €545,013 | -€215,799 | -28.4% |
| Other amounts receivable | 291 | €760,812 | €545,013 | -€215,799 | -28.4% |
| Stocks and contracts in progress | 3 | €1,314,639 | €1,314,639 | = | 0.0% |
| Stocks | 30/36 | €1,314,639 | €1,314,639 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,594,715 | €1,608,913 | +€14,198 | +0.9% |
| Trade receivables | 40 | €1,938 | €1,162 | -€777 | -40.1% |
| Other amounts receivable | 41 | €1,592,776 | €1,607,751 | +€14,975 | +0.9% |
| Cash at bank and in hand | 54/58 | €8,835 | €3,863 | -€4,972 | -56.3% |
| Deferred charges and accrued income | 490/1 | €2,997 | €1,753 | -€1,244 | -41.5% |
| Total equity and liabilities | 10/49 | €3,848,092 | €3,633,191 | -€214,902 | -5.6% |
| Equity | 10/15 | €2,699,325 | €2,597,636 | -€101,689 | -3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,680,725 | €2,579,036 | -€101,689 | -3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,546 | €69,546 | = | 0.0% |
| Distributable reserves | 133 | €2,609,319 | €2,507,631 | -€101,689 | -3.9% |
| Amounts payable | 17/49 | €1,148,767 | €1,035,554 | -€113,213 | -9.9% |
| Amounts payable after more than one year | 17 | €547,320 | €484,214 | -€63,106 | -11.5% |
| Financial debts | 170/4 | €544,820 | €481,714 | -€63,106 | -11.6% |
| Other amounts payable | 178/9 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €362,581 | €346,084 | -€16,496 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €154,009 | €136,170 | -€17,839 | -11.6% |
| Financial debts | 43 | €39 | - | -€39 | |
| Credit institutions | 430/8 | €39 | - | -€39 | |
| Trade debts | 44 | €31,638 | €23,688 | -€7,950 | -25.1% |
| Suppliers | 440/4 | €31,638 | €23,688 | -€7,950 | -25.1% |
| Taxes, remuneration and social security | 45 | €9,230 | €210 | -€9,020 | -97.7% |
| Taxes | 450/3 | €9,230 | €210 | -€9,020 | -97.7% |
| Other amounts payable | 47/48 | €167,664 | €186,016 | +€18,351 | +10.9% |
| Accrued charges and deferred income | 492/3 | €238,866 | €205,256 | -€33,610 | -14.1% |
| Non-recurring operating income | 76A | €750 | - | -€750 | |
| Remuneration, social security and pensions | 62 | €23,519 | €20,008 | -€3,511 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,179 | €7,084 | -€13,095 | -64.9% |
| Other operating charges | 640/8 | €1,348 | €1,278 | -€71 | -5.3% |
| Gross operating margin | 9900 | €188,541 | -€30,837 | -€219,378 | |
| Operating profit (loss) | 9901 | €143,494 | -€59,206 | -€202,701 | |
| Financial income | 75/76B | €57,346 | €187,923 | +€130,576 | +228% |
| Recurring financial income | 75 | €57,346 | €187,923 | +€130,576 | +228% |
| Financial charges | 65/66B | €30,353 | €227,431 | +€197,079 | +649% |
| Recurring financial charges | 65 | €30,353 | €227,431 | +€197,079 | +649% |
| Profit (loss) for the period before taxes | 9903 | €170,488 | -€98,715 | -€269,203 | |
| Income taxes | 67/77 | €6,380 | €2,974 | -€3,406 | -53.4% |
| Profit (loss) for the period | 9904 | €164,109 | -€101,689 | -€265,797 | |
| Profit (loss) for the period to be appropriated | 9905 | €164,109 | -€101,689 | -€265,797 |
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 19 October 2026 via checked.be.