Silverback: 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.
Silverback
Largest movements
- Receivables within one year -€27,739
down €27,739 (-9.3%), from €298,644 to €270,905
of which Trade receivables: -€25,370
- Stocks and contracts -€21,722
down €21,722 (-3.7%), from €591,105 to €569,382
- Profit (loss) carried forward -€39,028
down €39,028 (-4.9%), from -€802,205 to -€841,232
- Debts after one year -€30,828
down €30,828 (-1.2%), from €2.6m to €2.5m
- Other debts +€23,457
up €23,457 (+31.5%), from €74,394 to €97,851
- Financial charges -€40,018
down €40,018 (-53.5%), from €74,854 to €34,835
- Gross operating margin +€18,182
up €18,182 (+126%), from €14,434 to €32,616
- Other operating charges -€6,874
down €6,874 (-55.2%), from €12,459 to €5,585
- Depreciation +€658
up €658 (+2.2%), from €30,603 to €31,261
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 | €1,908,017 | €1,847,705 | -€60,312 | -3.2% |
| Fixed assets | 21/28 | €896,697 | €887,158 | -€9,539 | -1.1% |
| Tangible fixed assets | 22/27 | €896,697 | €887,158 | -€9,539 | -1.1% |
| Land and buildings | 22 | €896,697 | €887,158 | -€9,539 | -1.1% |
| Current assets | 29/58 | €1,011,320 | €960,546 | -€50,773 | -5.0% |
| Stocks and contracts in progress | 3 | €591,105 | €569,382 | -€21,722 | -3.7% |
| Stocks | 30/36 | €591,105 | €569,382 | -€21,722 | -3.7% |
| Amounts receivable within one year | 40/41 | €298,644 | €270,905 | -€27,739 | -9.3% |
| Trade receivables | 40 | €289,512 | €264,141 | -€25,370 | -8.8% |
| Other amounts receivable | 41 | €9,133 | €6,764 | -€2,369 | -25.9% |
| Cash at bank and in hand | 54/58 | €119,298 | €118,479 | -€820 | -0.7% |
| Deferred charges and accrued income | 490/1 | €2,272 | €1,780 | -€492 | -21.7% |
| Total equity and liabilities | 10/49 | €1,908,017 | €1,847,705 | -€60,312 | -3.2% |
| Equity | 10/15 | -€782,857 | -€821,884 | -€39,028 | -5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €748 | €748 | = | 0.0% |
| Non-distributable reserves | 130/1 | €748 | €0 | -€748 | -100% |
| Reserves not available under the articles | 1311 | €748 | €0 | -€748 | -100% |
| Distributable reserves | 133 | - | €748 | +€748 | |
| Profit (loss) carried forward | 14 | -€802,205 | -€841,232 | -€39,028 | -4.9% |
| Amounts payable | 17/49 | €2,690,874 | €2,669,589 | -€21,285 | -0.8% |
| Amounts payable after more than one year | 17 | €2,568,728 | €2,537,900 | -€30,828 | -1.2% |
| Financial debts | 170/4 | €2,568,728 | €2,537,900 | -€30,828 | -1.2% |
| Amounts payable within one year | 42/48 | €122,146 | €128,809 | +€6,663 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €28,991 | €30,220 | +€1,229 | +4.2% |
| Trade debts | 44 | €18,761 | €345 | -€18,416 | -98.2% |
| Suppliers | 440/4 | €18,761 | €345 | -€18,416 | -98.2% |
| Taxes, remuneration and social security | 45 | - | €394 | +€394 | |
| Taxes | 450/3 | - | €394 | +€394 | |
| Other amounts payable | 47/48 | €74,394 | €97,851 | +€23,457 | +31.5% |
| Accrued charges and deferred income | 492/3 | - | €2,880 | +€2,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,603 | €31,261 | +€658 | +2.2% |
| Other operating charges | 640/8 | €12,459 | €5,585 | -€6,874 | -55.2% |
| Gross operating margin | 9900 | €14,434 | €32,616 | +€18,182 | +126% |
| Operating profit (loss) | 9901 | -€28,627 | -€4,230 | +€24,397 | +85.2% |
| Financial income | 75/76B | €335 | €38 | -€297 | -88.7% |
| Recurring financial income | 75 | €151 | €38 | -€113 | -74.9% |
| Non-recurring financial income | 76B | €184 | €0 | -€184 | -100% |
| Financial charges | 65/66B | €74,854 | €34,835 | -€40,018 | -53.5% |
| Recurring financial charges | 65 | €74,854 | €34,835 | -€40,018 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | -€103,147 | -€39,028 | +€64,119 | +62.2% |
| Profit (loss) for the period | 9904 | -€103,147 | -€39,028 | +€64,119 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,147 | -€39,028 | +€64,119 | +62.2% |
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 15 October 2026 via checked.be.