SILVER PARTNERS: 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.
What changed
SILVER PARTNERS
NACE 90.393, Specialised image, lighting and sound technical services
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€56,272
2025 · €40,497+€15,775
Equity
€582,276
2025 · €526,004+€56,272
Cash
€7,588
2025 · €4,447+€3,141
Balance sheet total
€2.5m
2025 · €2.5m-€2,605
Largest movements
Assets
- Receivables within one year -€145,303
down €145,303 (-30.7%), from €473,721 to €328,418
of which Trade receivables: -€141,265
- Tangible fixed assets +€134,889
up €134,889 (+7.3%), from €1.9m to €2.0m
of which Leasing and similar rights: +€216,218
Equity and liabilities
- Short-term financial debts +€176,500
up €176,500 (+367.7%), from €48,000 to €224,500
of which Credit institutions: +€125,000
- Trade debts -€102,277
down €102,277 (-40.1%), from €255,312 to €153,035
- Debts after one year -€98,005
down €98,005 (-7.9%), from €1.2m to €1.1m
- Profit (loss) carried forward +€56,272
up €56,272 (+31.3%), from €179,544 to €235,816
Income statement
- Gross operating margin +€90,694
up €90,694 (+12.8%), from €710,426 to €801,120
- Depreciation +€85,698
up €85,698 (+37.2%), from €230,480 to €316,178
- Financial charges +€61,150
up €61,150 (+55.8%), from €109,575 to €170,725
- Staff costs -€58,799
down €58,799 (-20.2%), from €290,946 to €232,147
- Other operating charges -€10,581
down €10,581 (-31.6%), from €33,488 to €22,907
From the 2025 result to the 2026 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 2025
€40,497
Gross operating margin
+€90,694
Staff costs
+€58,799
Depreciation
-€85,698
Write-downs
-€336
Other operating charges
+€10,581
Other operating items
-€2,560
Financial income
-€170
Financial charges
-€61,150
Taxes
+€5,615
Result 2026
€56,272
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€378,464
Investment
-€440,384
Financing
+€65,062
Cash 2025
€4,447
From operations (derived)
+€378,464
Net result for the year
+€56,272
Depreciation
+€316,178
Receivables within one year
+€145,303
Deferred charges and accrued income
-€15,351
Trade debts
-€102,277
Tax, wage and social debts
-€19,573
Other debts
-€1,718
Accrued charges and deferred income
-€370
Investment (derived)
-€440,384
Investment in fixed assets (net)
-€440,384
Financing
+€65,062
Debts after one year
-€98,005
Current portion of long-term debt
-€13,434
Short-term financial debts
+€176,500
Cash 2026
€7,588
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,541,169 | €2,538,564 | -€2,605 | -0.1% |
| Fixed assets | 21/28 | €1,889,350 | €2,013,556 | +€124,206 | +6.6% |
| Intangible fixed assets | 21 | €27,975 | €17,491 | -€10,483 | -37.5% |
| Tangible fixed assets | 22/27 | €1,859,136 | €1,994,025 | +€134,889 | +7.3% |
| Plant, machinery and equipment | 23 | €79,980 | €120,860 | +€40,879 | +51.1% |
| Furniture and vehicles | 24 | €380,385 | €260,737 | -€119,648 | -31.5% |
| Leasing and similar rights | 25 | €1,394,202 | €1,610,419 | +€216,218 | +15.5% |
| Other tangible fixed assets | 26 | €4,569 | €2,009 | -€2,560 | -56.0% |
| Financial fixed assets | 28 | €2,239 | €2,039 | -€200 | -8.9% |
| Current assets | 29/58 | €651,819 | €525,008 | -€126,811 | -19.5% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €473,721 | €328,418 | -€145,303 | -30.7% |
| Trade receivables | 40 | €321,818 | €180,553 | -€141,265 | -43.9% |
| Other amounts receivable | 41 | €151,904 | €147,865 | -€4,039 | -2.7% |
| Cash at bank and in hand | 54/58 | €4,447 | €7,588 | +€3,141 | +70.6% |
| Deferred charges and accrued income | 490/1 | €43,651 | €59,002 | +€15,351 | +35.2% |
| Total equity and liabilities | 10/49 | €2,541,169 | €2,538,564 | -€2,605 | -0.1% |
| Equity | 10/15 | €526,004 | €582,276 | +€56,272 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €327,860 | €327,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €326,000 | €326,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,544 | €235,816 | +€56,272 | +31.3% |
| Amounts payable | 17/49 | €2,015,165 | €1,956,288 | -€58,877 | -2.9% |
| Amounts payable after more than one year | 17 | €1,240,781 | €1,142,776 | -€98,005 | -7.9% |
| Financial debts | 170/4 | €1,240,781 | €1,142,776 | -€98,005 | -7.9% |
| Amounts payable within one year | 42/48 | €771,759 | €811,257 | +€39,498 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €414,974 | €401,540 | -€13,434 | -3.2% |
| Financial debts | 43 | €48,000 | €224,500 | +€176,500 | +367.7% |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Other loans | 439 | €48,000 | €99,500 | +€51,500 | +107.3% |
| Trade debts | 44 | €255,312 | €153,035 | -€102,277 | -40.1% |
| Suppliers | 440/4 | €255,312 | €153,035 | -€102,277 | -40.1% |
| Advances received on contracts in progress | 46 | €5,000 | €5,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €46,755 | €27,182 | -€19,573 | -41.9% |
| Taxes | 450/3 | €33,844 | €6,579 | -€27,265 | -80.6% |
| Remuneration and social security | 454/9 | €12,911 | €20,603 | +€7,692 | +59.6% |
| Other amounts payable | 47/48 | €1,718 | €0 | -€1,718 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,625 | €2,255 | -€370 | -14.1% |
| Non-recurring operating income | 76A | €141 | €435 | +€294 | +209.4% |
| Remuneration, social security and pensions | 62 | €290,946 | €232,147 | -€58,799 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,480 | €316,178 | +€85,698 | +37.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€336 | €0 | +€336 | |
| Other operating charges | 640/8 | €33,488 | €22,907 | -€10,581 | -31.6% |
| Non-recurring operating charges | 66A | €1,440 | €4,000 | +€2,560 | +177.8% |
| Gross operating margin | 9900 | €710,426 | €801,120 | +€90,694 | +12.8% |
| Operating profit (loss) | 9901 | €154,408 | €225,887 | +€71,479 | +46.3% |
| Financial income | 75/76B | €3,883 | €3,713 | -€170 | -4.4% |
| Recurring financial income | 75 | €3,883 | €3,713 | -€170 | -4.4% |
| Financial charges | 65/66B | €109,575 | €170,725 | +€61,150 | +55.8% |
| Recurring financial charges | 65 | €109,575 | €170,725 | +€61,150 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | €48,716 | €58,876 | +€10,159 | +20.9% |
| Income taxes | 67/77 | €8,219 | €2,604 | -€5,615 | -68.3% |
| Profit (loss) for the period | 9904 | €40,497 | €56,272 | +€15,775 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,497 | €56,272 | +€15,775 | +39.0% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.