Silva: 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.
What changed
Silva
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€221,440
2024 · €209,223+€12,217
Equity
€3.5m
2024 · €3.3m+€221,440
Cash
€377,873
2024 · €386,325-€8,451
Balance sheet total
€5.7m
2024 · €5.5m+€243,353
Largest movements
Assets
- Current investments +€204,738
up €204,738 (+6.2%), from €3.3m to €3.5m
Equity and liabilities
- Reserves +€221,440
up €221,440 (+9.1%), from €2.4m to €2.6m
of which Distributable reserves: +€221,440
- Other debts +€74,977
up €74,977 (+3.6%), from €2.1m to €2.1m
Income statement
- Gross operating margin +€30,007
up €30,007 (+6.5%), from €462,648 to €492,655
- Depreciation +€12,066
up €12,066 (+9.4%), from €128,042 to €140,108
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
€209,223
Gross operating margin
+€30,007
Depreciation
-€12,066
Other operating charges
+€53
Financial income
-€3,673
Financial charges
-€502
Taxes
-€1,603
Result 2025
€221,440
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.
From operations
+€376,646
Investment
-€385,097
Financing
€0
Cash 2024
€386,325
From operations (derived)
+€376,646
Net result for the year
+€221,440
Depreciation
+€140,108
Receivables within one year
-€10,709
Deferred charges and accrued income
+€3,895
Trade debts
+€743
Tax, wage and social debts
-€16,954
Other debts
+€74,977
Accrued charges and deferred income
-€36,854
Investment (derived)
-€385,097
Investment in fixed assets (net)
-€180,359
Current investments
-€204,738
Cash 2025
€377,873
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,450,661 | €5,694,014 | +€243,353 | +4.5% |
| Fixed assets | 21/28 | €1,708,007 | €1,748,258 | +€40,251 | +2.4% |
| Tangible fixed assets | 22/27 | €1,678,260 | €1,718,511 | +€40,251 | +2.4% |
| Land and buildings | 22 | €1,564,589 | €1,521,632 | -€42,957 | -2.7% |
| Plant, machinery and equipment | 23 | €103,633 | €116,088 | +€12,455 | +12.0% |
| Furniture and vehicles | 24 | €10,038 | €80,792 | +€70,753 | +704.8% |
| Financial fixed assets | 28 | €29,747 | €29,747 | = | 0.0% |
| Current assets | 29/58 | €3,742,654 | €3,945,755 | +€203,102 | +5.4% |
| Amounts receivable within one year | 40/41 | €8,605 | €19,314 | +€10,709 | +124.4% |
| Trade receivables | 40 | €4,983 | €737 | -€4,246 | -85.2% |
| Other amounts receivable | 41 | €3,622 | €18,578 | +€14,955 | +412.9% |
| Current investments | 50/53 | €3,310,661 | €3,515,399 | +€204,738 | +6.2% |
| Cash at bank and in hand | 54/58 | €386,325 | €377,873 | -€8,451 | -2.2% |
| Deferred charges and accrued income | 490/1 | €37,063 | €33,169 | -€3,895 | -10.5% |
| Total equity and liabilities | 10/49 | €5,450,661 | €5,694,014 | +€243,353 | +4.5% |
| Equity | 10/15 | €3,292,001 | €3,513,442 | +€221,440 | +6.7% |
| Contributions | 10/11 | €867,627 | €867,627 | = | 0.0% |
| Capital | 10 | €867,627 | €867,627 | = | 0.0% |
| Issued capital | 100 | €867,627 | €867,627 | = | 0.0% |
| Reserves | 13 | €2,424,374 | €2,645,814 | +€221,440 | +9.1% |
| Non-distributable reserves | 130/1 | €86,763 | €86,763 | = | 0.0% |
| Legal reserve | 130 | €86,763 | €86,763 | = | 0.0% |
| Distributable reserves | 133 | €2,337,611 | €2,559,051 | +€221,440 | +9.5% |
| Amounts payable | 17/49 | €2,158,660 | €2,180,572 | +€21,913 | +1.0% |
| Amounts payable within one year | 42/48 | €2,095,444 | €2,154,210 | +€58,767 | +2.8% |
| Trade debts | 44 | €5,399 | €6,142 | +€743 | +13.8% |
| Suppliers | 440/4 | €5,399 | €6,142 | +€743 | +13.8% |
| Taxes, remuneration and social security | 45 | €29,470 | €12,516 | -€16,954 | -57.5% |
| Taxes | 450/3 | €21,538 | €4,584 | -€16,954 | -78.7% |
| Remuneration and social security | 454/9 | €7,932 | €7,932 | = | 0.0% |
| Other amounts payable | 47/48 | €2,060,575 | €2,135,552 | +€74,977 | +3.6% |
| Accrued charges and deferred income | 492/3 | €63,216 | €26,362 | -€36,854 | -58.3% |
| Non-recurring operating income | 76A | - | €11,500 | +€11,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,042 | €140,108 | +€12,066 | +9.4% |
| Other operating charges | 640/8 | €62,052 | €61,999 | -€53 | -0.1% |
| Gross operating margin | 9900 | €462,648 | €492,655 | +€30,007 | +6.5% |
| Operating profit (loss) | 9901 | €272,554 | €290,548 | +€17,994 | +6.6% |
| Financial income | 75/76B | €81,918 | €78,245 | -€3,673 | -4.5% |
| Recurring financial income | 75 | €81,918 | €78,245 | -€3,673 | -4.5% |
| Financial charges | 65/66B | €73,488 | €73,990 | +€502 | +0.7% |
| Recurring financial charges | 65 | €73,488 | €73,990 | +€502 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €280,985 | €294,804 | +€13,819 | +4.9% |
| Income taxes | 67/77 | €71,761 | €73,364 | +€1,603 | +2.2% |
| Profit (loss) for the period | 9904 | €209,223 | €221,440 | +€12,217 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €209,223 | €221,440 | +€12,217 | +5.8% |
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 2 October 2026 via checked.be.