SL & K: 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 & K
Largest movements
- Current investments +€91,506
up €91,506 (+55.2%), from €165,718 to €257,224
- Cash +€86,985
up €86,985 (+101.2%), from €85,952 to €172,937
mainly Net result for the year (+€195,285) and Other debts (+€105,161)
- Receivables within one year -€21,485
down €21,485 (-23.3%), from €92,270 to €70,785
of which Trade receivables: -€19,058
- Tangible fixed assets +€9,194
up €9,194 (+31.7%), from €29,002 to €38,197
of which Furniture and vehicles: +€8,214
- Other debts +€105,161
up €105,161 (+59.7%), from €176,094 to €281,254
- Reserves +€44,625
up €44,625 (+29.6%), from €150,660 to €195,285
- Tax, wage and social debts +€17,446
up €17,446 (+64.7%), from €26,962 to €44,408
- Financial income +€71,467
up €71,467 (+3138.0%), from €2,277 to €73,745
- Taxes +€17,736
up €17,736 (+32.8%), from €54,033 to €71,769
- Gross operating margin -€6,668
down €6,668 (-3.2%), from €205,531 to €198,863
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 | €373,634 | €539,873 | +€166,239 | +44.5% |
| Fixed assets | 21/28 | €29,002 | €38,197 | +€9,194 | +31.7% |
| Tangible fixed assets | 22/27 | €29,002 | €38,197 | +€9,194 | +31.7% |
| Plant, machinery and equipment | 23 | - | €980 | +€980 | |
| Furniture and vehicles | 24 | €18,909 | €27,124 | +€8,214 | +43.4% |
| Other tangible fixed assets | 26 | €10,093 | €10,093 | = | 0.0% |
| Current assets | 29/58 | €344,632 | €501,677 | +€157,045 | +45.6% |
| Amounts receivable within one year | 40/41 | €92,270 | €70,785 | -€21,485 | -23.3% |
| Trade receivables | 40 | €89,843 | €70,785 | -€19,058 | -21.2% |
| Other amounts receivable | 41 | €2,428 | €0 | -€2,428 | -100.0% |
| Current investments | 50/53 | €165,718 | €257,224 | +€91,506 | +55.2% |
| Cash at bank and in hand | 54/58 | €85,952 | €172,937 | +€86,985 | +101.2% |
| Deferred charges and accrued income | 490/1 | €692 | €731 | +€39 | +5.7% |
| Total equity and liabilities | 10/49 | €373,634 | €539,873 | +€166,239 | +44.5% |
| Equity | 10/15 | €169,260 | €213,885 | +€44,625 | +26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,660 | €195,285 | +€44,625 | +29.6% |
| Distributable reserves | 133 | €150,660 | €195,285 | +€44,625 | +29.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €204,374 | €325,988 | +€121,614 | +59.5% |
| Amounts payable within one year | 42/48 | €204,374 | €325,988 | +€121,614 | +59.5% |
| Trade debts | 44 | €1,318 | €325 | -€993 | -75.3% |
| Suppliers | 440/4 | €1,318 | €325 | -€993 | -75.3% |
| Taxes, remuneration and social security | 45 | €26,962 | €44,408 | +€17,446 | +64.7% |
| Taxes | 450/3 | €26,962 | €44,408 | +€17,446 | +64.7% |
| Other amounts payable | 47/48 | €176,094 | €281,254 | +€105,161 | +59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,341 | €4,515 | +€1,174 | +35.1% |
| Other operating charges | 640/8 | €317 | €789 | +€472 | +148.6% |
| Gross operating margin | 9900 | €205,531 | €198,863 | -€6,668 | -3.2% |
| Operating profit (loss) | 9901 | €201,872 | €193,558 | -€8,314 | -4.1% |
| Financial income | 75/76B | €2,277 | €73,745 | +€71,467 | +3138.0% |
| Recurring financial income | 75 | €2,277 | €73,745 | +€71,467 | +3138.0% |
| Financial charges | 65/66B | €278 | €249 | -€29 | -10.5% |
| Recurring financial charges | 65 | €278 | €249 | -€29 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €203,871 | €267,054 | +€63,183 | +31.0% |
| Income taxes | 67/77 | €54,033 | €71,769 | +€17,736 | +32.8% |
| Profit (loss) for the period | 9904 | €149,838 | €195,285 | +€45,447 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €149,838 | €195,285 | +€45,447 | +30.3% |
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.