SILVER TORNADO: 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 TORNADO
Largest movements
- Tangible fixed assets -€16,014
down €16,014 (-8.1%), from €197,978 to €181,963
of which Other tangible fixed assets: -€30,970
- Cash +€10,190
up €10,190 (+1427.5%), from €714 to €10,903
mainly Depreciation (+€41,049) and Net result for the year (+€9,992)
- Receivables within one year -€3,491
down €3,491 (-17.7%), from €19,764 to €16,273
of which Trade receivables: -€4,371
- Trade debts -€17,635
down €17,635 (-88.3%), from €19,972 to €2,337
- Reserves +€9,992
up €9,992 (+18.1%), from €55,202 to €65,194
of which Distributable reserves: +€11,234
- Gross operating margin +€6,703
up €6,703 (+11.9%), from €56,463 to €63,166
- Other operating charges +€3,502
up €3,502 (+34.4%), from €10,184 to €13,686
- Depreciation +€2,480
up €2,480 (+6.4%), from €38,569 to €41,049
- Taxes +€1,241
new in 2025: €1,241
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €258,781 | €249,340 | -€9,441 | -3.6% |
| Fixed assets | 21/28 | €198,278 | €182,263 | -€16,014 | -8.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €197,978 | €181,963 | -€16,014 | -8.1% |
| Land and buildings | 22 | €27,740 | €24,679 | -€3,062 | -11.0% |
| Plant, machinery and equipment | 23 | €11,017 | €30,057 | +€19,039 | +172.8% |
| Furniture and vehicles | 24 | €4,370 | €3,348 | -€1,022 | -23.4% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €154,850 | €123,880 | -€30,970 | -20.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €60,503 | €67,077 | +€6,574 | +10.9% |
| Amounts receivable within one year | 40/41 | €19,764 | €16,273 | -€3,491 | -17.7% |
| Trade receivables | 40 | €19,764 | €15,393 | -€4,371 | -22.1% |
| Other amounts receivable | 41 | - | €880 | +€880 | |
| Current investments | 50/53 | €40,025 | €39,900 | -€125 | -0.3% |
| Cash at bank and in hand | 54/58 | €714 | €10,903 | +€10,190 | +1427.5% |
| Total equity and liabilities | 10/49 | €258,781 | €249,340 | -€9,441 | -3.6% |
| Equity | 10/15 | €180,103 | €187,595 | +€7,492 | +4.2% |
| Contributions | 10/11 | €107,400 | €107,400 | = | 0.0% |
| Capital | 10 | €107,400 | €107,400 | = | 0.0% |
| Issued capital | 100 | €107,400 | €107,400 | = | 0.0% |
| Reserves | 13 | €55,202 | €65,194 | +€9,992 | +18.1% |
| Non-distributable reserves | 130/1 | €10,740 | €10,740 | = | 0.0% |
| Legal reserve | 130 | €10,740 | €10,740 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,207 | €4,966 | -€1,241 | -20.0% |
| Distributable reserves | 133 | €38,255 | €49,489 | +€11,234 | +29.4% |
| Investment grants | 15 | €17,501 | €15,001 | -€2,500 | -14.3% |
| Provisions and deferred taxes | 16 | €3,196 | €2,557 | -€639 | -20.0% |
| Deferred taxes | 168 | €3,196 | €2,557 | -€639 | -20.0% |
| Amounts payable | 17/49 | €75,482 | €59,188 | -€16,293 | -21.6% |
| Amounts payable within one year | 42/48 | €75,482 | €59,188 | -€16,293 | -21.6% |
| Trade debts | 44 | €19,972 | €2,337 | -€17,635 | -88.3% |
| Suppliers | 440/4 | €19,972 | €2,337 | -€17,635 | -88.3% |
| Taxes, remuneration and social security | 45 | €2,940 | €3,285 | +€345 | +11.7% |
| Taxes | 450/3 | €2,940 | €3,285 | +€345 | +11.7% |
| Other amounts payable | 47/48 | €52,570 | €53,566 | +€996 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,569 | €41,049 | +€2,480 | +6.4% |
| Other operating charges | 640/8 | €10,184 | €13,686 | +€3,502 | +34.4% |
| Gross operating margin | 9900 | €56,463 | €63,166 | +€6,703 | +11.9% |
| Operating profit (loss) | 9901 | €7,710 | €8,430 | +€720 | +9.3% |
| Financial income | 75/76B | €2,514 | €2,857 | +€343 | +13.7% |
| Recurring financial income | 75 | €2,514 | €2,857 | +€343 | +13.7% |
| Financial charges | 65/66B | €1,003 | €693 | -€310 | -30.9% |
| Recurring financial charges | 65 | €1,003 | €693 | -€310 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €9,220 | €10,594 | +€1,374 | +14.9% |
| Transfer from deferred taxes | 780 | €639 | €639 | = | 0.0% |
| Income taxes | 67/77 | - | €1,241 | +€1,241 | |
| Profit (loss) for the period | 9904 | €9,859 | €9,992 | +€133 | +1.3% |
| Transfer from tax-exempt reserves | 789 | €1,241 | €1,241 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,101 | €11,234 | +€133 | +1.2% |
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 11 October 2026 via checked.be.