SILVERTREE: what changed
Two fiscal 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.
SILVERTREE
Largest movements
- Cash +€233,796
up €233,796 (+1564.5%), from €14,944 to €248,740
mainly Receivables within one year (+€232,070) and Net result for the year (+€99,516)
- Receivables within one year -€232,070
down €232,070 (-53.3%), from €435,607 to €203,537
of which Trade receivables: -€232,070
- Reserves +€99,516
up €99,516 (+30.6%), from €324,881 to €424,397
- Tax, wage and social debts -€86,878
down €86,878 (-76.7%), from €113,216 to €26,338
of which Taxes: -€68,474
- Other debts -€11,607
down €11,607 (-85.0%), from €13,655 to €2,048
- Taxes -€19,506
down €19,506 (-42.7%), from €45,720 to €26,213
- Gross operating margin -€16,551
down €16,551 (-11.4%), from €145,057 to €128,506
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 | €452,753 | €453,783 | +€1,030 | +0.2% |
| Fixed assets | 21/28 | €2,203 | €1,506 | -€697 | -31.6% |
| Tangible fixed assets | 22/27 | €2,203 | €1,506 | -€697 | -31.6% |
| Furniture and vehicles | 24 | €2,203 | €1,506 | -€697 | -31.6% |
| Current assets | 29/58 | €450,550 | €452,277 | +€1,727 | +0.4% |
| Amounts receivable within one year | 40/41 | €435,607 | €203,537 | -€232,070 | -53.3% |
| Trade receivables | 40 | €435,600 | €203,530 | -€232,070 | -53.3% |
| Other amounts receivable | 41 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,944 | €248,740 | +€233,796 | +1564.5% |
| Total equity and liabilities | 10/49 | €452,753 | €453,783 | +€1,030 | +0.2% |
| Equity | 10/15 | €325,881 | €425,397 | +€99,516 | +30.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €324,881 | €424,397 | +€99,516 | +30.6% |
| Distributable reserves | 133 | €324,881 | €424,397 | +€99,516 | +30.6% |
| Amounts payable | 17/49 | €126,872 | €28,386 | -€98,486 | -77.6% |
| Amounts payable within one year | 42/48 | €126,872 | €28,386 | -€98,486 | -77.6% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €113,216 | €26,338 | -€86,878 | -76.7% |
| Taxes | 450/3 | €94,812 | €26,338 | -€68,474 | -72.2% |
| Remuneration and social security | 454/9 | €18,405 | €0 | -€18,405 | -100.0% |
| Other amounts payable | 47/48 | €13,655 | €2,048 | -€11,607 | -85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €697 | €697 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €408 | +€23 | +6.0% |
| Gross operating margin | 9900 | €145,057 | €128,506 | -€16,551 | -11.4% |
| Operating profit (loss) | 9901 | €143,975 | €127,402 | -€16,574 | -11.5% |
| Financial income | 75/76B | €9 | €0 | -€9 | -100.0% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100.0% |
| Financial charges | 65/66B | €919 | €1,673 | +€753 | +81.9% |
| Recurring financial charges | 65 | €919 | €1,673 | +€753 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | €143,065 | €125,729 | -€17,336 | -12.1% |
| Income taxes | 67/77 | €45,720 | €26,213 | -€19,506 | -42.7% |
| Profit (loss) for the period | 9904 | €97,345 | €99,516 | +€2,170 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,345 | €99,516 | +€2,170 | +2.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.