SKELCO: 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.
SKELCO
Largest movements
- Cash +€47,745
up €47,745 (+122.8%), from €38,891 to €86,636
mainly Accrued charges and deferred income (+€36,667) and Net result for the year (+€15,594)
- Tangible fixed assets +€12,791
up €12,791 (+534.0%), from €2,395 to €15,186
of which Furniture and vehicles: +€12,995
- Receivables within one year -€3,796
down €3,796 (-28.8%), from €13,165 to €9,369
of which Trade receivables: -€10,704
- Deferred charges and accrued income -€2,818
down €2,818 (-17.4%), from €16,191 to €13,373
- Accrued charges and deferred income +€36,667
new in 2025: €36,667
- Reserves +€15,000
up €15,000 (+69.6%), from €21,554 to €36,554
- Current portion of long-term debt +€6,364
new in 2025: €6,364
- Tax, wage and social debts -€5,915
down €5,915 (-18.2%), from €32,534 to €26,619
- Other debts +€5,018
new in 2025: €5,018
- Depreciation +€2,202
up €2,202 (+152.3%), from €1,446 to €3,648
- Gross operating margin -€2,157
down €2,157 (-6.3%), from €34,411 to €32,254
- Financial charges +€1,242
up €1,242 (+153.4%), from €809 to €2,051
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 | €70,641 | €124,564 | +€53,923 | +76.3% |
| Fixed assets | 21/28 | €2,395 | €15,186 | +€12,791 | +534.0% |
| Tangible fixed assets | 22/27 | €2,395 | €15,186 | +€12,791 | +534.0% |
| Furniture and vehicles | 24 | €1,224 | €14,219 | +€12,995 | +1061.8% |
| Other tangible fixed assets | 26 | €1,171 | €967 | -€205 | -17.5% |
| Current assets | 29/58 | €68,246 | €109,378 | +€41,132 | +60.3% |
| Amounts receivable within one year | 40/41 | €13,165 | €9,369 | -€3,796 | -28.8% |
| Trade receivables | 40 | €10,704 | - | -€10,704 | |
| Other amounts receivable | 41 | €2,460 | €9,369 | +€6,909 | +280.8% |
| Cash at bank and in hand | 54/58 | €38,891 | €86,636 | +€47,745 | +122.8% |
| Deferred charges and accrued income | 490/1 | €16,191 | €13,373 | -€2,818 | -17.4% |
| Total equity and liabilities | 10/49 | €70,641 | €124,564 | +€53,923 | +76.3% |
| Equity | 10/15 | €33,586 | €49,180 | +€15,594 | +46.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,554 | €36,554 | +€15,000 | +69.6% |
| Distributable reserves | 133 | €21,554 | €36,554 | +€15,000 | +69.6% |
| Profit (loss) carried forward | 14 | €5,833 | €6,426 | +€594 | +10.2% |
| Amounts payable | 17/49 | €37,055 | €75,384 | +€38,329 | +103.4% |
| Amounts payable within one year | 42/48 | €37,055 | €38,717 | +€1,662 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,364 | +€6,364 | |
| Trade debts | 44 | €4,521 | €716 | -€3,805 | -84.2% |
| Suppliers | 440/4 | €4,521 | €716 | -€3,805 | -84.2% |
| Taxes, remuneration and social security | 45 | €32,534 | €26,619 | -€5,915 | -18.2% |
| Taxes | 450/3 | €32,534 | €26,619 | -€5,915 | -18.2% |
| Other amounts payable | 47/48 | - | €5,018 | +€5,018 | |
| Accrued charges and deferred income | 492/3 | - | €36,667 | +€36,667 | |
| Non-recurring operating income | 76A | €3,719 | - | -€3,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,446 | €3,648 | +€2,202 | +152.3% |
| Other operating charges | 640/8 | €1,336 | €1,349 | +€13 | +0.9% |
| Gross operating margin | 9900 | €34,411 | €32,254 | -€2,157 | -6.3% |
| Operating profit (loss) | 9901 | €31,629 | €27,257 | -€4,372 | -13.8% |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €809 | €2,051 | +€1,242 | +153.4% |
| Recurring financial charges | 65 | €809 | €2,051 | +€1,242 | +153.4% |
| Profit (loss) for the period before taxes | 9903 | €30,819 | €25,225 | -€5,594 | -18.2% |
| Income taxes | 67/77 | €9,682 | €9,631 | -€51 | -0.5% |
| Profit (loss) for the period | 9904 | €21,137 | €15,594 | -€5,543 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,137 | €15,594 | -€5,543 | -26.2% |
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.