SILVER INVEST: what changed
What changed
SILVER INVEST
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€3.2m
2024 · -€571,978-€2.6m
Equity
-€3.7m
2024 · -€558,896-€3.2m
Cash
€214,311
2024 · €132,119+€82,192
Balance sheet total
€38.3m
2024 · €40.5m-€2.2m
Largest movements
Assets
- Stocks and contracts -€1.6m
down €1.6m (-100%), from €1.6m to €0
- Receivables within one year -€497,862
down €497,862 (-37.3%), from €1.3m to €837,962
Equity and liabilities
- Profit (loss) carried forward -€3.2m
down €3.2m (-552%), from -€571,978 to -€3.7m
- Debts after one year +€2.9m
up €2.9m (+8.3%), from €34.9m to €37.8m
- Trade debts -€2.0m
down €2.0m (-64.2%), from €3.1m to €1.1m
Income statement
- Financial charges +€1.9m
up €1.9m (+102%), from €1.9m to €3.7m
- Turnover -€522,169
down €522,169 (-14.7%), from €3.6m to €3.0m
- Other operating charges +€270,091
up €270,091 (+15.3%), from €1.8m to €2.0m
- Depreciation +€141,791
up €141,791 (+12.0%), from €1.2m to €1.3m
- Services and other goods -€132,757
down €132,757 (-18.8%), from €705,404 to €572,647
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€571,978
Turnover
-€522,169
Other operating income
+€117,788
Services and other goods
+€132,757
Depreciation
-€141,791
Other operating charges
-€270,091
Financial income
-€7,426
Financial charges
-€1.9m
Result 2025
-€3.2m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.4m
Investment
-€1.4m
Financing
+€2.9m
Cash 2024
€132,119
From operations (derived)
-€1.4m
Net result for the year
-€3.2m
Depreciation
+€1.3m
Receivables after one year
+€43,383
Stocks and contracts
+€1.6m
Receivables within one year
+€497,862
Deferred charges and accrued income
+€182,970
Trade debts
-€2.0m
Tax, wage and social debts
+€81,621
Other debts
+€4,470
Accrued charges and deferred income
+€8,177
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€2.9m
Debts after one year
+€2.9m
Cash 2025
€214,311
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,509,135 | €38,344,621 | -€2.2m | -5.3% |
| Fixed assets | 21/28 | €37,219,855 | €37,292,348 | +€72,493 | +0.2% |
| Tangible fixed assets | 22/27 | €37,219,855 | €37,292,348 | +€72,493 | +0.2% |
| Land and buildings | 22 | €37,219,855 | €37,262,981 | +€43,126 | +0.1% |
| Furniture and vehicles | 24 | - | €29,368 | +€29,368 | |
| Current assets | 29/58 | €3,289,280 | €1,052,272 | -€2.2m | -68.0% |
| Amounts receivable after more than one year | 29 | €43,383 | €0 | -€43,383 | -100% |
| Other amounts receivable | 291 | €43,383 | €0 | -€43,383 | -100% |
| Stocks and contracts in progress | 3 | €1,594,985 | €0 | -€1.6m | -100% |
| Stocks | 30/36 | €1,594,985 | €0 | -€1.6m | -100% |
| Work in progress | 32 | €1,594,985 | €0 | -€1.6m | -100% |
| Amounts receivable within one year | 40/41 | €1,335,823 | €837,962 | -€497,862 | -37.3% |
| Trade receivables | 40 | €1,335,823 | €837,962 | -€497,862 | -37.3% |
| Cash at bank and in hand | 54/58 | €132,119 | €214,311 | +€82,192 | +62.2% |
| Deferred charges and accrued income | 490/1 | €182,970 | €0 | -€182,970 | -100% |
| Total equity and liabilities | 10/49 | €40,509,135 | €38,344,621 | -€2.2m | -5.3% |
| Equity | 10/15 | -€558,896 | -€3,716,204 | -€3.2m | -565% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,082 | €8,082 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €7,582 | €7,582 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€571,978 | -€3,729,285 | -€3.2m | -552% |
| Amounts payable | 17/49 | €41,068,032 | €42,060,824 | +€992,793 | +2.4% |
| Amounts payable after more than one year | 17 | €34,870,000 | €37,770,000 | +€2.9m | +8.3% |
| Financial debts | 170/4 | €34,870,000 | €37,770,000 | +€2.9m | +8.3% |
| Credit institutions | 173 | €27,300,000 | €28,100,000 | +€800,000 | +2.9% |
| Other loans | 174 | €7,570,000 | €9,670,000 | +€2.1m | +27.7% |
| Amounts payable within one year | 42/48 | €4,629,041 | €2,713,656 | -€1.9m | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €1,400,000 | €1,400,000 | = | 0.0% |
| Trade debts | 44 | €3,115,470 | €1,113,994 | -€2.0m | -64.2% |
| Suppliers | 440/4 | €3,115,470 | €1,113,994 | -€2.0m | -64.2% |
| Taxes, remuneration and social security | 45 | €22,099 | €103,719 | +€81,621 | +369% |
| Taxes | 450/3 | €22,099 | €103,719 | +€81,621 | +369% |
| Other amounts payable | 47/48 | €91,472 | €95,942 | +€4,470 | +4.9% |
| Accrued charges and deferred income | 492/3 | €1,568,991 | €1,577,168 | +€8,177 | +0.5% |
| Operating income | 70/76A | €4,924,827 | €4,520,446 | -€404,381 | -8.2% |
| Turnover | 70 | €3,554,327 | €3,032,158 | -€522,169 | -14.7% |
| Other operating income | 74 | €1,370,500 | €1,488,288 | +€117,788 | +8.6% |
| Operating charges | 60/66A | €3,654,106 | €3,933,232 | +€279,126 | +7.6% |
| Services and other goods | 61 | €705,404 | €572,647 | -€132,757 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,181,432 | €1,323,223 | +€141,791 | +12.0% |
| Other operating charges | 640/8 | €1,767,270 | €2,037,361 | +€270,091 | +15.3% |
| Operating profit (loss) | 9901 | €1,270,721 | €587,214 | -€683,507 | -53.8% |
| Financial income | 75/76B | €7,426 | €0 | -€7,426 | -100% |
| Recurring financial income | 75 | €7,426 | €0 | -€7,426 | -100% |
| Income from current assets | 751 | €7,407 | €0 | -€7,407 | -100% |
| Other financial income | 752/9 | €18 | €0 | -€18 | -100% |
| Financial charges | 65/66B | €1,850,124 | €3,744,521 | +€1.9m | +102% |
| Recurring financial charges | 65 | €1,850,124 | €3,744,521 | +€1.9m | +102% |
| Debt charges | 650 | €1,849,716 | €3,738,936 | +€1.9m | +102% |
| Other financial charges | 652/9 | €409 | €5,585 | +€5,177 | +1,267% |
| Profit (loss) for the period before taxes | 9903 | -€571,978 | -€3,157,307 | -€2.6m | -452% |
| Income taxes | 67/77 | €0 | - | = | |
| Taxes | 670/3 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€571,978 | -€3,157,307 | -€2.6m | -452% |
| Profit (loss) for the period to be appropriated | 9905 | -€571,978 | -€3,157,307 | -€2.6m | -452% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.