Silver Construct: 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.
Silver Construct
Largest movements
- Receivables within one year +€340,855
up €340,855 (+390%), from €87,315 to €428,171
of which Other amounts receivable: +€350,456
- Stocks and contracts -€213,500
no longer reported in 2025 (was €213,500)
- Cash -€68,816
down €68,816 (-96.9%), from €71,039 to €2,223
mainly Receivables within one year (-€340,855) and Trade debts (-€93,972)
- Other debts +€135,362
up €135,362 (+276%), from €49,030 to €184,392
- Trade debts -€93,972
down €93,972 (-96.3%), from €97,561 to €3,589
- Reserves +€31,600
up €31,600 (+32.4%), from €97,400 to €129,000
- Tax, wage and social debts -€14,494
down €14,494 (-19.9%), from €72,916 to €58,422
- Gross operating margin -€117,508
down €117,508 (-78.4%), from €149,907 to €32,399
- Taxes -€33,674
down €33,674 (-74.0%), from €45,535 to €11,861
- Financial charges -€9,384
down €9,384 (-83.6%), from €11,226 to €1,842
- Financial income +€8,650
up €8,650 (+172%), from €5,016 to €13,666
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €371,854 | €430,394 | +€58,539 | +15.7% |
| Current assets | 29/58 | €371,854 | €430,394 | +€58,539 | +15.7% |
| Stocks and contracts in progress | 3 | €213,500 | - | -€213,500 | |
| Stocks | 30/36 | €213,500 | - | -€213,500 | |
| Amounts receivable within one year | 40/41 | €87,315 | €428,171 | +€340,855 | +390% |
| Trade receivables | 40 | €9,755 | €155 | -€9,601 | -98.4% |
| Other amounts receivable | 41 | €77,560 | €428,016 | +€350,456 | +452% |
| Cash at bank and in hand | 54/58 | €71,039 | €2,223 | -€68,816 | -96.9% |
| Total equity and liabilities | 10/49 | €371,854 | €430,394 | +€58,539 | +15.7% |
| Equity | 10/15 | €152,348 | €183,991 | +€31,644 | +20.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €97,400 | €129,000 | +€31,600 | +32.4% |
| Distributable reserves | 133 | €97,400 | €129,000 | +€31,600 | +32.4% |
| Profit (loss) carried forward | 14 | €49,948 | €49,991 | +€44 | +0.1% |
| Amounts payable | 17/49 | €219,507 | €246,402 | +€26,896 | +12.3% |
| Amounts payable within one year | 42/48 | €219,507 | €246,402 | +€26,896 | +12.3% |
| Trade debts | 44 | €97,561 | €3,589 | -€93,972 | -96.3% |
| Suppliers | 440/4 | €97,561 | €3,589 | -€93,972 | -96.3% |
| Taxes, remuneration and social security | 45 | €72,916 | €58,422 | -€14,494 | -19.9% |
| Taxes | 450/3 | €72,916 | €58,422 | -€14,494 | -19.9% |
| Other amounts payable | 47/48 | €49,030 | €184,392 | +€135,362 | +276% |
| Other operating charges | 640/8 | €693 | €718 | +€24 | +3.5% |
| Gross operating margin | 9900 | €149,907 | €32,399 | -€117,508 | -78.4% |
| Operating profit (loss) | 9901 | €149,213 | €31,681 | -€117,532 | -78.8% |
| Financial income | 75/76B | €5,016 | €13,666 | +€8,650 | +172% |
| Recurring financial income | 75 | €5,016 | €13,666 | +€8,650 | +172% |
| Financial charges | 65/66B | €11,226 | €1,842 | -€9,384 | -83.6% |
| Recurring financial charges | 65 | €11,226 | €1,842 | -€9,384 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | €143,003 | €43,504 | -€99,499 | -69.6% |
| Income taxes | 67/77 | €45,535 | €11,861 | -€33,674 | -74.0% |
| Profit (loss) for the period | 9904 | €97,469 | €31,644 | -€65,825 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €97,469 | €31,644 | -€65,825 | -67.5% |
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 14 October 2026 via checked.be.