SL: 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.
SL
Largest movements
- Cash +€37,966
up €37,966 (+182.1%), from €20,853 to €58,819
mainly Net result for the year (+€51,491) and Depreciation (+€22,816)
- Tangible fixed assets -€21,406
down €21,406 (-17.9%), from €119,832 to €98,426
- Receivables within one year -€7,371
down €7,371 (-89.2%), from €8,262 to €891
of which Other amounts receivable: -€4,028
- Stocks and contracts -€2,805
down €2,805 (-21.9%), from €12,808 to €10,004
- Profit (loss) carried forward +€51,491
up €51,491, from -€28,406 to €23,084
- Other debts -€49,808
down €49,808 (-30.8%), from €161,565 to €111,757
- Tax, wage and social debts +€13,289
up €13,289 (+254.6%), from €5,220 to €18,509
of which Taxes: +€11,767
- Trade debts -€10,857
down €10,857 (-69.2%), from €15,698 to €4,842
- Accrued charges and deferred income +€2,101
new in 2025: €2,101
- Gross operating margin +€62,458
up €62,458 (+187.4%), from €33,322 to €95,780
- Taxes +€10,814
up €10,814 (+4986.9%), from €217 to €11,031
- Staff costs +€8,414
new in 2025: €8,414
- Depreciation +€6,084
up €6,084 (+36.4%), from €16,732 to €22,816
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 | €162,137 | €168,353 | +€6,216 | +3.8% |
| Fixed assets | 21/28 | €120,213 | €98,639 | -€21,574 | -17.9% |
| Tangible fixed assets | 22/27 | €119,832 | €98,426 | -€21,406 | -17.9% |
| Plant, machinery and equipment | 23 | €38,779 | €31,293 | -€7,486 | -19.3% |
| Furniture and vehicles | 24 | €21,354 | €14,682 | -€6,672 | -31.2% |
| Other tangible fixed assets | 26 | €59,699 | €52,451 | -€7,248 | -12.1% |
| Financial fixed assets | 28 | €381 | €213 | -€168 | -44.2% |
| Current assets | 29/58 | €41,923 | €69,714 | +€27,791 | +66.3% |
| Stocks and contracts in progress | 3 | €12,808 | €10,004 | -€2,805 | -21.9% |
| Stocks | 30/36 | €12,808 | €10,004 | -€2,805 | -21.9% |
| Amounts receivable within one year | 40/41 | €8,262 | €891 | -€7,371 | -89.2% |
| Trade receivables | 40 | €3,351 | €8 | -€3,343 | -99.7% |
| Other amounts receivable | 41 | €4,911 | €883 | -€4,028 | -82.0% |
| Cash at bank and in hand | 54/58 | €20,853 | €58,819 | +€37,966 | +182.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €162,137 | €168,353 | +€6,216 | +3.8% |
| Equity | 10/15 | -€20,346 | €31,144 | +€51,491 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,406 | €23,084 | +€51,491 | |
| Amounts payable | 17/49 | €182,483 | €137,209 | -€45,274 | -24.8% |
| Amounts payable within one year | 42/48 | €182,483 | €135,108 | -€47,375 | -26.0% |
| Trade debts | 44 | €15,698 | €4,842 | -€10,857 | -69.2% |
| Suppliers | 440/4 | €15,698 | €4,842 | -€10,857 | -69.2% |
| Taxes, remuneration and social security | 45 | €5,220 | €18,509 | +€13,289 | +254.6% |
| Taxes | 450/3 | €5,220 | €16,987 | +€11,767 | +225.4% |
| Remuneration and social security | 454/9 | €0 | €1,522 | +€1,522 | |
| Other amounts payable | 47/48 | €161,565 | €111,757 | -€49,808 | -30.8% |
| Accrued charges and deferred income | 492/3 | - | €2,101 | +€2,101 | |
| Remuneration, social security and pensions | 62 | - | €8,414 | +€8,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,732 | €22,816 | +€6,084 | +36.4% |
| Other operating charges | 640/8 | €1,672 | €1,805 | +€133 | +8.0% |
| Gross operating margin | 9900 | €33,322 | €95,780 | +€62,458 | +187.4% |
| Operating profit (loss) | 9901 | €14,918 | €62,744 | +€47,826 | +320.6% |
| Financial charges | 65/66B | €135 | €223 | +€88 | +65.1% |
| Recurring financial charges | 65 | €135 | €223 | +€88 | +65.1% |
| Profit (loss) for the period before taxes | 9903 | €14,783 | €62,521 | +€47,738 | +322.9% |
| Income taxes | 67/77 | €217 | €11,031 | +€10,814 | +4986.9% |
| Profit (loss) for the period | 9904 | €14,566 | €51,491 | +€36,925 | +253.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,566 | €51,491 | +€36,925 | +253.5% |
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 30 September 2026 via checked.be.