SILVAMO: 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.
SILVAMO
Largest movements
- Cash +€3.7m
up €3.7m (+309.7%), from €1.2m to €4.9m
mainly Provisions (+€2.7m) and Receivables within one year (+€1.7m)
- Receivables within one year -€1.7m
down €1.7m (-59.7%), from €2.9m to €1.2m
of which Trade receivables: -€1.1m
- Tangible fixed assets -€218,124
down €218,124 (-14.0%), from €1.6m to €1.3m
of which Plant, machinery and equipment: -€243,391
- Provisions +€2.7m
up €2.7m (+72.8%), from €3.6m to €6.3m
- Profit (loss) carried forward -€951,061
down €951,061, from €460,866 to -€490,195
- Tax, wage and social debts +€341,427
up €341,427 (+156.8%), from €217,805 to €559,232
of which Taxes: +€339,644
- Trade debts -€317,321
down €317,321 (-51.2%), from €619,217 to €301,896
- Turnover +€4.9m
new in 2025: €4.9m
- Purchases and services +€3.1m
new in 2025: €3.1m
- Provisions +€1.4m
up €1.4m (+107.9%), from €1.3m to €2.7m
- Gross operating margin +€628,542
up €628,542 (+33.8%), from €1.9m to €2.5m
- Taxes +€229,291
up €229,291 (+153.1%), from €149,740 to €379,031
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 | €5,799,073 | €7,538,797 | +€1.7m | +30.0% |
| Fixed assets | 21/28 | €1,562,727 | €1,344,603 | -€218,124 | -14.0% |
| Tangible fixed assets | 22/27 | €1,562,727 | €1,344,603 | -€218,124 | -14.0% |
| Land and buildings | 22 | €84,097 | €122,292 | +€38,195 | +45.4% |
| Plant, machinery and equipment | 23 | €1,443,080 | €1,199,689 | -€243,391 | -16.9% |
| Furniture and vehicles | 24 | €35,550 | €22,623 | -€12,927 | -36.4% |
| Current assets | 29/58 | €4,236,346 | €6,194,194 | +€2.0m | +46.2% |
| Stocks and contracts in progress | 3 | €103,741 | €83,533 | -€20,208 | -19.5% |
| Stocks | 30/36 | €103,741 | €83,533 | -€20,208 | -19.5% |
| Amounts receivable within one year | 40/41 | €2,907,548 | €1,170,876 | -€1.7m | -59.7% |
| Trade receivables | 40 | €1,707,548 | €570,876 | -€1.1m | -66.6% |
| Other amounts receivable | 41 | €1,200,000 | €600,000 | -€600,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €1,200,673 | €4,919,251 | +€3.7m | +309.7% |
| Deferred charges and accrued income | 490/1 | €24,384 | €20,534 | -€3,850 | -15.8% |
| Total equity and liabilities | 10/49 | €5,799,073 | €7,538,797 | +€1.7m | +30.0% |
| Equity | 10/15 | €1,111,514 | €160,453 | -€951,061 | -85.6% |
| Contributions | 10/11 | €495,787 | €495,787 | +€0 | 0.0% |
| Capital | 10 | €495,787 | €495,787 | +€0 | 0.0% |
| Issued capital | 100 | €495,787 | €495,787 | +€0 | 0.0% |
| Reserves | 13 | €154,861 | €154,861 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €49,579 | €49,579 | -€0 | 0.0% |
| Legal reserve | 130 | €49,579 | €49,579 | -€0 | 0.0% |
| Distributable reserves | 133 | €105,282 | €105,282 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €460,866 | -€490,195 | -€951,061 | |
| Provisions and deferred taxes | 16 | €3,639,951 | €6,290,666 | +€2.7m | +72.8% |
| Provisions for liabilities and charges | 160/5 | €3,639,951 | €6,290,666 | +€2.7m | +72.8% |
| Environmental obligations | 163 | - | €1,590,000 | +€1.6m | |
| Other liabilities and charges | 164/5 | €3,639,951 | €4,700,666 | +€1.1m | +29.1% |
| Amounts payable | 17/49 | €1,047,608 | €1,087,678 | +€40,070 | +3.8% |
| Amounts payable within one year | 42/48 | €837,022 | €861,128 | +€24,106 | +2.9% |
| Trade debts | 44 | €619,217 | €301,896 | -€317,321 | -51.2% |
| Suppliers | 440/4 | €619,217 | €301,896 | -€317,321 | -51.2% |
| Taxes, remuneration and social security | 45 | €217,805 | €559,232 | +€341,427 | +156.8% |
| Taxes | 450/3 | €206,712 | €546,356 | +€339,644 | +164.3% |
| Remuneration and social security | 454/9 | €11,093 | €12,876 | +€1,783 | +16.1% |
| Accrued charges and deferred income | 492/3 | €210,586 | €226,550 | +€15,964 | +7.6% |
| Turnover | 70 | - | €4,886,778 | +€4.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,073,159 | +€3.1m | |
| Remuneration, social security and pensions | 62 | €104,428 | €106,328 | +€1,900 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331,678 | €311,050 | -€20,628 | -6.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,275,188 | €2,650,715 | +€1.4m | +107.9% |
| Other operating charges | 640/8 | €998 | €546 | -€452 | -45.3% |
| Gross operating margin | 9900 | €1,860,634 | €2,489,176 | +€628,542 | +33.8% |
| Operating profit (loss) | 9901 | €148,342 | -€579,463 | -€727,805 | |
| Financial income | 75/76B | €49,220 | €31,644 | -€17,576 | -35.7% |
| Recurring financial income | 75 | €49,220 | €31,644 | -€17,576 | -35.7% |
| Financial charges | 65/66B | €23,910 | €24,211 | +€301 | +1.3% |
| Recurring financial charges | 65 | €23,910 | €24,211 | +€301 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €173,652 | -€572,030 | -€745,682 | |
| Income taxes | 67/77 | €149,740 | €379,031 | +€229,291 | +153.1% |
| Profit (loss) for the period | 9904 | €23,912 | -€951,061 | -€974,973 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,912 | -€951,061 | -€974,973 |
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 7 October 2026 via checked.be.