SL MANAGEMENT: 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.
SL MANAGEMENT
Largest movements
- Receivables within one year +€60,662
up €60,662 (+208%), from €29,208 to €89,870
of which Trade receivables: +€37,193
- Cash +€49,904
up €49,904 (+3,327%), from €1,500 to €51,404
mainly Net result for the year (+€84,480) and Tax, wage and social debts (+€34,561)
- Tangible fixed assets +€6,724
new in 2025: €6,724
- Profit (loss) carried forward +€84,480
up €84,480 (+491%), from €17,216 to €101,696
- Tax, wage and social debts +€34,561
up €34,561 (+375%), from €9,212 to €43,773
- Other debts -€1,962
no longer reported in 2025 (was €1,962)
- Gross operating margin +€87,571
up €87,571 (+387%), from €22,609 to €110,180
- Taxes +€19,697
up €19,697 (+458%), from €4,304 to €24,001
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 | €30,708 | €147,998 | +€117,289 | +382% |
| Fixed assets | 21/28 | - | €6,724 | +€6,724 | |
| Tangible fixed assets | 22/27 | - | €6,724 | +€6,724 | |
| Furniture and vehicles | 24 | - | €6,724 | +€6,724 | |
| Current assets | 29/58 | €30,708 | €141,274 | +€110,566 | +360% |
| Amounts receivable within one year | 40/41 | €29,208 | €89,870 | +€60,662 | +208% |
| Trade receivables | 40 | €29,208 | €66,401 | +€37,193 | +127% |
| Other amounts receivable | 41 | - | €23,469 | +€23,469 | |
| Cash at bank and in hand | 54/58 | €1,500 | €51,404 | +€49,904 | +3,327% |
| Total equity and liabilities | 10/49 | €30,708 | €147,998 | +€117,289 | +382% |
| Equity | 10/15 | €18,716 | €103,196 | +€84,480 | +451% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,216 | €101,696 | +€84,480 | +491% |
| Amounts payable | 17/49 | €11,992 | €44,802 | +€32,809 | +274% |
| Amounts payable within one year | 42/48 | €11,992 | €44,802 | +€32,809 | +274% |
| Trade debts | 44 | €819 | €1,028 | +€210 | +25.6% |
| Suppliers | 440/4 | €819 | €1,028 | +€210 | +25.6% |
| Taxes, remuneration and social security | 45 | €9,212 | €43,773 | +€34,561 | +375% |
| Taxes | 450/3 | €9,212 | €43,773 | +€34,561 | +375% |
| Other amounts payable | 47/48 | €1,962 | - | -€1,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,089 | €1,801 | +€712 | +65.4% |
| Gross operating margin | 9900 | €22,609 | €110,180 | +€87,571 | +387% |
| Operating profit (loss) | 9901 | €21,520 | €108,379 | +€86,859 | +404% |
| Financial income | 75/76B | - | €532 | +€532 | |
| Recurring financial income | 75 | - | €532 | +€532 | |
| Financial charges | 65/66B | - | €430 | +€430 | |
| Recurring financial charges | 65 | - | €160 | +€160 | |
| Non-recurring financial charges | 66B | - | €270 | +€270 | |
| Profit (loss) for the period before taxes | 9903 | €21,520 | €108,481 | +€86,961 | +404% |
| Income taxes | 67/77 | €4,304 | €24,001 | +€19,697 | +458% |
| Profit (loss) for the period | 9904 | €17,216 | €84,480 | +€67,264 | +391% |
| Profit (loss) for the period to be appropriated | 9905 | €17,216 | €84,480 | +€67,264 | +391% |
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 19 October 2026 via checked.be.