SILVERCORE: 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.
SILVERCORE
Largest movements
- Cash +€26,797
up €26,797 (+11.5%), from €232,190 to €258,987
mainly Net result for the year (+€44,680) and Depreciation (+€1,980)
- Reserves +€27,701
up €27,701 (+11.9%), from €233,725 to €261,426
- Gross operating margin +€7,688
up €7,688 (+13.2%), from €58,094 to €65,783
- Taxes +€2,925
up €2,925 (+17.7%), from €16,502 to €19,427
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 | €254,424 | €281,749 | +€27,324 | +10.7% |
| Fixed assets | 21/28 | €6,903 | €5,912 | -€991 | -14.4% |
| Tangible fixed assets | 22/27 | €6,903 | €5,912 | -€991 | -14.4% |
| Land and buildings | 22 | €3,597 | €3,122 | -€476 | -13.2% |
| Furniture and vehicles | 24 | €3,306 | €2,790 | -€515 | -15.6% |
| Current assets | 29/58 | €247,521 | €275,837 | +€28,315 | +11.4% |
| Amounts receivable within one year | 40/41 | €13,823 | €15,201 | +€1,378 | +10.0% |
| Trade receivables | 40 | €13,823 | €15,201 | +€1,378 | +10.0% |
| Cash at bank and in hand | 54/58 | €232,190 | €258,987 | +€26,797 | +11.5% |
| Deferred charges and accrued income | 490/1 | €1,508 | €1,648 | +€140 | +9.3% |
| Total equity and liabilities | 10/49 | €254,424 | €281,749 | +€27,324 | +10.7% |
| Equity | 10/15 | €239,925 | €267,626 | +€27,701 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €233,725 | €261,426 | +€27,701 | +11.9% |
| Distributable reserves | 133 | €233,725 | €261,426 | +€27,701 | +11.9% |
| Amounts payable | 17/49 | €14,499 | €14,123 | -€376 | -2.6% |
| Amounts payable within one year | 42/48 | €14,481 | €14,102 | -€379 | -2.6% |
| Trade debts | 44 | €2,842 | €2,252 | -€591 | -20.8% |
| Suppliers | 440/4 | €2,842 | €2,252 | -€591 | -20.8% |
| Taxes, remuneration and social security | 45 | €4,854 | €5,594 | +€740 | +15.2% |
| Taxes | 450/3 | €4,854 | €5,594 | +€740 | +15.2% |
| Other amounts payable | 47/48 | €6,785 | €6,257 | -€528 | -7.8% |
| Accrued charges and deferred income | 492/3 | €18 | €21 | +€3 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,623 | €1,980 | -€643 | -24.5% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €58,094 | €65,783 | +€7,688 | +13.2% |
| Operating profit (loss) | 9901 | €54,966 | €63,283 | +€8,317 | +15.1% |
| Financial income | 75/76B | €1,075 | €1,297 | +€222 | +20.7% |
| Recurring financial income | 75 | €1,075 | €1,297 | +€222 | +20.7% |
| Financial charges | 65/66B | €619 | €473 | -€146 | -23.6% |
| Recurring financial charges | 65 | €619 | €473 | -€146 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €55,422 | €64,107 | +€8,686 | +15.7% |
| Income taxes | 67/77 | €16,502 | €19,427 | +€2,925 | +17.7% |
| Profit (loss) for the period | 9904 | €38,919 | €44,680 | +€5,761 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,919 | €44,680 | +€5,761 | +14.8% |
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 31 October 2026 via checked.be.