SILVER ONE: 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
SILVER ONE
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€317,308
2024 · €138,364+€178,944
Equity
€4.3m
2024 · €4.0m+€317,308
Cash
€398,536
2024 · €902,120-€503,585
Balance sheet total
€6.6m
2024 · €6.4m+€171,156
Largest movements
Assets
- Current investments +€700,000
new in 2025: €700,000
- Cash -€503,585
down €503,585 (-55.8%), from €902,120 to €398,536
mainly Current investments (-€700,000) and Investment in fixed assets (net) (-€151,779)
Equity and liabilities
- Profit (loss) carried forward +€203,771
up €203,771 (+8.6%), from €2.4m to €2.6m
- Other debts -€142,182
down €142,182 (-7.9%), from €1.8m to €1.7m
- Reserves +€113,537
up €113,537 (+7.7%), from €1.5m to €1.6m
of which Tax-exempt reserves: +€113,537
Income statement
- Gross operating margin +€246,169
up €246,169 (+48.0%), from €512,699 to €758,868
- Financial income +€11,818
new in 2025: €11,818
- Other operating charges +€8,199
up €8,199 (+24.4%), from €33,627 to €41,826
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
€138,364
Gross operating margin
+€246,169
Staff costs
-€5,349
Depreciation
-€5,622
Other operating charges
-€8,199
Financial income
+€11,818
Financial charges
-€476
Taxes
-€7,030
Deferred taxes and other
-€52,366
Result 2025
€317,308
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
+€373,195
Investment
-€851,779
Financing
-€25,000
Cash 2024
€902,120
From operations (derived)
+€373,195
Net result for the year
+€317,308
Depreciation
+€176,818
Receivables within one year
-€14,867
Deferred charges and accrued income
+€15,088
Provisions
+€37,846
Trade debts
-€26,743
Tax, wage and social debts
-€519
Other debts
-€142,182
Accrued charges and deferred income
+€10,445
Investment (derived)
-€851,779
Investment in fixed assets (net)
-€151,779
Current investments
-€700,000
Financing
-€25,000
Debts after one year
-€25,000
Cash 2025
€398,536
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,431,065 | €6,602,221 | +€171,156 | +2.7% |
| Fixed assets | 21/28 | €5,482,992 | €5,457,954 | -€25,038 | -0.5% |
| Tangible fixed assets | 22/27 | €5,482,962 | €5,457,924 | -€25,038 | -0.5% |
| Land and buildings | 22 | €5,369,362 | €5,146,174 | -€223,188 | -4.2% |
| Plant, machinery and equipment | 23 | €75,110 | €170,551 | +€95,440 | +127.1% |
| Furniture and vehicles | 24 | €1,673 | €1,411 | -€263 | -15.7% |
| Assets under construction and advance payments | 27 | €36,817 | €139,789 | +€102,973 | +279.7% |
| Financial fixed assets | 28 | €29 | €29 | = | 0.0% |
| Current assets | 29/58 | €948,073 | €1,144,267 | +€196,194 | +20.7% |
| Amounts receivable within one year | 40/41 | €2,747 | €17,614 | +€14,867 | +541.1% |
| Trade receivables | 40 | - | €4,329 | +€4,329 | |
| Other amounts receivable | 41 | €2,747 | €13,285 | +€10,537 | +383.5% |
| Current investments | 50/53 | - | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €902,120 | €398,536 | -€503,585 | -55.8% |
| Deferred charges and accrued income | 490/1 | €43,206 | €28,118 | -€15,088 | -34.9% |
| Total equity and liabilities | 10/49 | €6,431,065 | €6,602,221 | +€171,156 | +2.7% |
| Equity | 10/15 | €4,011,025 | €4,328,333 | +€317,308 | +7.9% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,477,961 | €1,591,498 | +€113,537 | +7.7% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,386,157 | €1,499,694 | +€113,537 | +8.2% |
| Distributable reserves | 133 | €76,804 | €76,804 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,383,065 | €2,586,836 | +€203,771 | +8.6% |
| Provisions and deferred taxes | 16 | €462,052 | €499,898 | +€37,846 | +8.2% |
| Deferred taxes | 168 | €462,052 | €499,898 | +€37,846 | +8.2% |
| Amounts payable | 17/49 | €1,957,988 | €1,773,989 | -€183,998 | -9.4% |
| Amounts payable after more than one year | 17 | €76,920 | €51,920 | -€25,000 | -32.5% |
| Financial debts | 170/4 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Other amounts payable | 178/9 | €1,920 | €1,920 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,872,207 | €1,702,763 | -€169,444 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €44,543 | €17,800 | -€26,743 | -60.0% |
| Suppliers | 440/4 | €44,543 | €17,800 | -€26,743 | -60.0% |
| Taxes, remuneration and social security | 45 | €3,075 | €2,557 | -€519 | -16.9% |
| Taxes | 450/3 | €881 | - | -€881 | |
| Remuneration and social security | 454/9 | €2,194 | €2,557 | +€363 | +16.5% |
| Other amounts payable | 47/48 | €1,799,588 | €1,657,406 | -€142,182 | -7.9% |
| Accrued charges and deferred income | 492/3 | €8,861 | €19,306 | +€10,445 | +117.9% |
| Remuneration, social security and pensions | 62 | €35,094 | €40,442 | +€5,349 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,195 | €176,818 | +€5,622 | +3.3% |
| Other operating charges | 640/8 | €33,627 | €41,826 | +€8,199 | +24.4% |
| Gross operating margin | 9900 | €512,699 | €758,868 | +€246,169 | +48.0% |
| Operating profit (loss) | 9901 | €272,783 | €499,782 | +€226,999 | +83.2% |
| Financial income | 75/76B | - | €11,818 | +€11,818 | |
| Recurring financial income | 75 | - | €11,818 | +€11,818 | |
| Financial charges | 65/66B | €83,059 | €83,535 | +€476 | +0.6% |
| Recurring financial charges | 65 | €83,059 | €83,535 | +€476 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €189,724 | €428,066 | +€238,341 | +125.6% |
| Transfer from deferred taxes | 780 | €14,521 | €17,889 | +€3,368 | +23.2% |
| Transfer to deferred taxes | 680 | - | €55,734 | +€55,734 | |
| Income taxes | 67/77 | €65,881 | €72,912 | +€7,030 | +10.7% |
| Profit (loss) for the period | 9904 | €138,364 | €317,308 | +€178,944 | +129.3% |
| Transfer from tax-exempt reserves | 789 | €43,562 | €53,666 | +€10,104 | +23.2% |
| Transfer to tax-exempt reserves | 689 | - | €167,203 | +€167,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €181,926 | €203,771 | +€21,845 | +12.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.