SILVERFISH: 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.
SILVERFISH
Largest movements
- Cash -€55,477
down €55,477 (-84.1%), from €65,943 to €10,467
mainly Net result for the year (-€66,809) and Investment in fixed assets (net) (-€45,024)
- Receivables within one year -€35,875
down €35,875 (-10.1%), from €356,670 to €320,795
of which Other amounts receivable: -€28,352
- Tangible fixed assets -€18,717
down €18,717 (-11.3%), from €165,671 to €146,955
of which Furniture and vehicles: -€37,256
- Reserves -€66,809
down €66,809 (-17.5%), from €382,233 to €315,424
of which Distributable reserves: -€66,809
- Trade debts -€42,526
down €42,526 (-65.7%), from €64,766 to €22,239
- Debts after one year -€26,954
down €26,954 (-37.7%), from €71,541 to €44,587
- Current portion of long-term debt +€23,213
up €23,213 (+234%), from €9,911 to €33,124
- Tax, wage and social debts -€8,246
down €8,246 (-18.3%), from €45,094 to €36,848
of which Remuneration and social security: -€8,141
- Gross operating margin -€76,662
down €76,662 (-47.9%), from €160,069 to €83,407
- Depreciation +€3,120
up €3,120 (+5.1%), from €60,620 to €63,740
- Other operating charges +€2,897
up €2,897 (+291%), from €996 to €3,893
- Staff costs +€2,773
up €2,773 (+3.7%), from €75,408 to €78,181
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 | €596,028 | €483,140 | -€112,888 | -18.9% |
| Fixed assets | 21/28 | €165,858 | €147,141 | -€18,717 | -11.3% |
| Tangible fixed assets | 22/27 | €165,671 | €146,955 | -€18,717 | -11.3% |
| Plant, machinery and equipment | 23 | €50,185 | €70,130 | +€19,945 | +39.7% |
| Furniture and vehicles | 24 | €106,008 | €68,751 | -€37,256 | -35.1% |
| Other tangible fixed assets | 26 | €9,479 | €8,073 | -€1,406 | -14.8% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €430,171 | €335,999 | -€94,171 | -21.9% |
| Amounts receivable within one year | 40/41 | €356,670 | €320,795 | -€35,875 | -10.1% |
| Trade receivables | 40 | €114,600 | €107,078 | -€7,523 | -6.6% |
| Other amounts receivable | 41 | €242,069 | €213,717 | -€28,352 | -11.7% |
| Current investments | 50/53 | €5,340 | - | -€5,340 | |
| Cash at bank and in hand | 54/58 | €65,943 | €10,467 | -€55,477 | -84.1% |
| Deferred charges and accrued income | 490/1 | €2,217 | €4,737 | +€2,521 | +114% |
| Total equity and liabilities | 10/49 | €596,028 | €483,140 | -€112,888 | -18.9% |
| Equity | 10/15 | €400,833 | €334,024 | -€66,809 | -16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €382,233 | €315,424 | -€66,809 | -17.5% |
| 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 | €380,373 | €313,564 | -€66,809 | -17.6% |
| Amounts payable | 17/49 | €195,195 | €149,116 | -€46,079 | -23.6% |
| Amounts payable after more than one year | 17 | €71,541 | €44,587 | -€26,954 | -37.7% |
| Financial debts | 170/4 | €71,541 | €44,587 | -€26,954 | -37.7% |
| Amounts payable within one year | 42/48 | €121,516 | €102,391 | -€19,125 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €9,911 | €33,124 | +€23,213 | +234% |
| Financial debts | 43 | €521 | €2,125 | +€1,604 | +308% |
| Credit institutions | 430/8 | €521 | €2,125 | +€1,604 | +308% |
| Trade debts | 44 | €64,766 | €22,239 | -€42,526 | -65.7% |
| Suppliers | 440/4 | €64,766 | €22,239 | -€42,526 | -65.7% |
| Taxes, remuneration and social security | 45 | €45,094 | €36,848 | -€8,246 | -18.3% |
| Taxes | 450/3 | €27,391 | €27,286 | -€105 | -0.4% |
| Remuneration and social security | 454/9 | €17,703 | €9,563 | -€8,141 | -46.0% |
| Other amounts payable | 47/48 | €1,225 | €8,054 | +€6,829 | +558% |
| Accrued charges and deferred income | 492/3 | €2,139 | €2,139 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €75,408 | €78,181 | +€2,773 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,620 | €63,740 | +€3,120 | +5.1% |
| Other operating charges | 640/8 | €996 | €3,893 | +€2,897 | +291% |
| Non-recurring operating charges | 66A | €35,020 | €1,071 | -€33,949 | -96.9% |
| Gross operating margin | 9900 | €160,069 | €83,407 | -€76,662 | -47.9% |
| Operating profit (loss) | 9901 | -€11,974 | -€63,478 | -€51,504 | -430% |
| Financial income | 75/76B | €45 | €673 | +€628 | +1,395% |
| Recurring financial income | 75 | €45 | €673 | +€628 | +1,395% |
| Financial charges | 65/66B | €4,286 | €3,837 | -€449 | -10.5% |
| Recurring financial charges | 65 | €4,286 | €3,837 | -€449 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,215 | -€66,642 | -€50,427 | -311% |
| Income taxes | 67/77 | €131 | €167 | +€36 | +27.7% |
| Profit (loss) for the period | 9904 | -€16,346 | -€66,809 | -€50,463 | -309% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,346 | -€66,809 | -€50,463 | -309% |
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 27 October 2026 via checked.be.