SILVER PROJECTS: what changed
What changed
SILVER PROJECTS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€62,744
2024 · €31,687+€31,057
Equity
€551,844
2024 · €489,100+€62,744
Cash
€7,690
2024 · €3,215+€4,476
Balance sheet total
€1.1m
2024 · €1.1m-€17,615
Largest movements
Assets
- Tangible fixed assets -€23,064
down €23,064 (-3.0%), from €777,781 to €754,717
of which Land and buildings: -€23,064
Equity and liabilities
- Debts after one year -€89,658
down €89,658 (-15.4%), from €583,848 to €494,189
- Reserves +€62,744
up €62,744 (+13.3%), from €470,500 to €533,244
of which Distributable reserves: +€62,744
Income statement
- Gross operating margin +€38,808
up €38,808 (+56.0%), from €69,280 to €108,088
- Taxes +€9,106
up €9,106 (+138%), from €6,580 to €15,686
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
€31,687
Gross operating margin
+€38,808
Depreciation
+€107
Other operating charges
-€144
Financial income
+€920
Financial charges
+€472
Taxes
-€9,106
Result 2025
€62,744
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
+€86,046
Investment
€0
Financing
-€81,570
Cash 2024
€3,215
From operations (derived)
+€86,046
Net result for the year
+€62,744
Depreciation
+€23,064
Receivables within one year
-€934
Deferred charges and accrued income
-€39
Trade debts
+€1,695
Tax, wage and social debts
-€484
Financing
-€81,570
Debts after one year
-€89,658
Current portion of long-term debt
+€8,088
Cash 2025
€7,690
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,133,141 | €1,115,526 | -€17,615 | -1.6% |
| Fixed assets | 21/28 | €1,127,811 | €1,104,747 | -€23,064 | -2.0% |
| Tangible fixed assets | 22/27 | €777,781 | €754,717 | -€23,064 | -3.0% |
| Land and buildings | 22 | €770,607 | €747,543 | -€23,064 | -3.0% |
| Other tangible fixed assets | 26 | €7,175 | €7,175 | = | 0.0% |
| Financial fixed assets | 28 | €350,030 | €350,030 | = | 0.0% |
| Current assets | 29/58 | €5,330 | €10,779 | +€5,449 | +102% |
| Amounts receivable within one year | 40/41 | €1,189 | €2,124 | +€934 | +78.5% |
| Other amounts receivable | 41 | €1,189 | €2,124 | +€934 | +78.5% |
| Cash at bank and in hand | 54/58 | €3,215 | €7,690 | +€4,476 | +139% |
| Deferred charges and accrued income | 490/1 | €926 | €965 | +€39 | +4.2% |
| Total equity and liabilities | 10/49 | €1,133,141 | €1,115,526 | -€17,615 | -1.6% |
| Equity | 10/15 | €489,100 | €551,844 | +€62,744 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €470,500 | €533,244 | +€62,744 | +13.3% |
| 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 | €468,640 | €531,384 | +€62,744 | +13.4% |
| Amounts payable | 17/49 | €644,041 | €563,682 | -€80,359 | -12.5% |
| Amounts payable after more than one year | 17 | €583,848 | €494,189 | -€89,658 | -15.4% |
| Financial debts | 170/4 | €583,848 | €494,189 | -€89,658 | -15.4% |
| Amounts payable within one year | 42/48 | €60,194 | €69,492 | +€9,299 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €52,510 | €60,599 | +€8,088 | +15.4% |
| Trade debts | 44 | €6,408 | €8,103 | +€1,695 | +26.4% |
| Suppliers | 440/4 | €6,408 | €8,103 | +€1,695 | +26.4% |
| Taxes, remuneration and social security | 45 | €1,275 | €791 | -€484 | -38.0% |
| Taxes | 450/3 | €1,275 | €791 | -€484 | -38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,171 | €23,064 | -€107 | -0.5% |
| Other operating charges | 640/8 | €2,655 | €2,800 | +€144 | +5.4% |
| Gross operating margin | 9900 | €69,280 | €108,088 | +€38,808 | +56.0% |
| Operating profit (loss) | 9901 | €43,454 | €82,225 | +€38,771 | +89.2% |
| Financial income | 75/76B | €79 | €999 | +€920 | +1,164% |
| Recurring financial income | 75 | €79 | €999 | +€920 | +1,164% |
| Financial charges | 65/66B | €5,266 | €4,794 | -€472 | -9.0% |
| Recurring financial charges | 65 | €5,266 | €4,794 | -€472 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €38,267 | €78,430 | +€40,163 | +105% |
| Income taxes | 67/77 | €6,580 | €15,686 | +€9,106 | +138% |
| Profit (loss) for the period | 9904 | €31,687 | €62,744 | +€31,057 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,687 | €62,744 | +€31,057 | +98.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.