Silver Tie Projects: 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 Tie Projects
Largest movements
- Receivables within one year -€42,998
down €42,998 (-41.7%), from €103,073 to €60,074
of which Other amounts receivable: -€40,986
- Cash -€30,113
down €30,113 (-27.3%), from €110,134 to €80,020
mainly Contributions, distributions and other (-€165,000) and Other debts (-€11,912)
- Intangible fixed assets -€13,755
down €13,755 (-15.5%), from €88,462 to €74,707
- Receivables after one year +€10,000
up €10,000 (+20.0%), from €50,000 to €60,000
- Profit (loss) carried forward -€80,611
down €80,611 (-90.7%), from €88,864 to €8,253
- Trade debts +€18,459
up €18,459 (+24.9%), from €74,159 to €92,618
- Other debts -€11,912
down €11,912 (-43.0%), from €27,730 to €15,818
- Tax, wage and social debts -€10,420
down €10,420 (-20.4%), from €51,074 to €40,655
of which Taxes: -€7,069
- Accrued charges and deferred income +€9,219
up €9,219 (+542%), from €1,700 to €10,920
- Staff costs -€30,207
down €30,207 (-20.3%), from €148,467 to €118,259
- Gross operating margin +€16,991
up €16,991 (+7.2%), from €237,038 to €254,028
- Taxes +€12,110
up €12,110 (+63.2%), from €19,172 to €31,282
- Other operating charges +€3,507
up €3,507 (+436%), from €805 to €4,312
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 | €395,398 | €320,134 | -€75,264 | -19.0% |
| Fixed assets | 21/28 | €105,214 | €89,250 | -€15,965 | -15.2% |
| Intangible fixed assets | 21 | €88,462 | €74,707 | -€13,755 | -15.5% |
| Tangible fixed assets | 22/27 | €3,453 | €1,243 | -€2,210 | -64.0% |
| Plant, machinery and equipment | 23 | €1,888 | €1,243 | -€646 | -34.2% |
| Furniture and vehicles | 24 | €1,564 | €0 | -€1,564 | -100% |
| Financial fixed assets | 28 | €13,300 | €13,300 | = | 0.0% |
| Current assets | 29/58 | €290,184 | €230,884 | -€59,300 | -20.4% |
| Amounts receivable after more than one year | 29 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Other amounts receivable | 291 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Stocks and contracts in progress | 3 | €23,467 | €26,467 | +€3,000 | +12.8% |
| Stocks | 30/36 | €23,467 | €26,467 | +€3,000 | +12.8% |
| Amounts receivable within one year | 40/41 | €103,073 | €60,074 | -€42,998 | -41.7% |
| Trade receivables | 40 | €62,087 | €60,074 | -€2,013 | -3.2% |
| Other amounts receivable | 41 | €40,986 | €0 | -€40,986 | -100% |
| Cash at bank and in hand | 54/58 | €110,134 | €80,020 | -€30,113 | -27.3% |
| Deferred charges and accrued income | 490/1 | €3,511 | €4,322 | +€811 | +23.1% |
| Total equity and liabilities | 10/49 | €395,398 | €320,134 | -€75,264 | -19.0% |
| Equity | 10/15 | €165,735 | €85,123 | -€80,611 | -48.6% |
| Contributions | 10/11 | €69,882 | €69,882 | = | 0.0% |
| Capital | 10 | €69,882 | €69,882 | = | 0.0% |
| Issued capital | 100 | €69,882 | €69,882 | = | 0.0% |
| Reserves | 13 | €6,988 | €6,988 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,988 | €6,988 | = | 0.0% |
| Legal reserve | 130 | €6,988 | €6,988 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,864 | €8,253 | -€80,611 | -90.7% |
| Amounts payable | 17/49 | €229,664 | €235,010 | +€5,347 | +2.3% |
| Amounts payable within one year | 42/48 | €227,963 | €224,091 | -€3,873 | -1.7% |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Credit institutions | 430/8 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €74,159 | €92,618 | +€18,459 | +24.9% |
| Suppliers | 440/4 | €74,159 | €92,618 | +€18,459 | +24.9% |
| Taxes, remuneration and social security | 45 | €51,074 | €40,655 | -€10,420 | -20.4% |
| Taxes | 450/3 | €31,605 | €24,536 | -€7,069 | -22.4% |
| Remuneration and social security | 454/9 | €19,469 | €16,119 | -€3,351 | -17.2% |
| Other amounts payable | 47/48 | €27,730 | €15,818 | -€11,912 | -43.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | €10,920 | +€9,219 | +542% |
| Remuneration, social security and pensions | 62 | €148,467 | €118,259 | -€30,207 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,860 | €14,400 | -€460 | -3.1% |
| Other operating charges | 640/8 | €805 | €4,312 | +€3,507 | +436% |
| Gross operating margin | 9900 | €237,038 | €254,028 | +€16,991 | +7.2% |
| Operating profit (loss) | 9901 | €72,905 | €117,057 | +€44,151 | +60.6% |
| Financial income | 75/76B | €2,680 | €2,613 | -€67 | -2.5% |
| Recurring financial income | 75 | €2,680 | €2,613 | -€67 | -2.5% |
| Financial charges | 65/66B | €4,626 | €3,999 | -€626 | -13.5% |
| Recurring financial charges | 65 | €4,626 | €3,999 | -€626 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €70,960 | €115,670 | +€44,710 | +63.0% |
| Income taxes | 67/77 | €19,172 | €31,282 | +€12,110 | +63.2% |
| Profit (loss) for the period | 9904 | €51,788 | €84,389 | +€32,600 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,788 | €84,389 | +€32,600 | +62.9% |
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 15 October 2026 via checked.be.