SL Projects: 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 Projects
Largest movements
- Tangible fixed assets +€618,859
up €618,859 (+1148.4%), from €53,890 to €672,748
of which Land and buildings: +€585,211
- Receivables within one year +€83,508
up €83,508 (+312.2%), from €26,747 to €110,254
of which Other amounts receivable: +€80,555
- Cash -€35,617
down €35,617 (-70.6%), from €50,429 to €14,813
mainly Investment in fixed assets (net) (-€670,423) and Receivables within one year (-€83,508)
- Debts after one year +€469,078
up €469,078 (+2250.5%), from €20,843 to €489,921
- Other debts +€130,080
up €130,080 (+15615.9%), from €833 to €130,913
- Current portion of long-term debt +€39,075
up €39,075 (+434.3%), from €8,998 to €48,073
- Tax, wage and social debts +€18,304
up €18,304 (+225.8%), from €8,108 to €26,412
of which Taxes: +€15,900
- Trade debts +€13,643
up €13,643 (+268.0%), from €5,091 to €18,734
- Depreciation +€42,064
up €42,064 (+442.8%), from €9,500 to €51,564
- Financial charges +€13,112
up €13,112 (+619.6%), from €2,116 to €15,228
- Taxes -€11,865
down €11,865 (-98.7%), from €12,022 to €157
- Staff costs +€11,034
new in 2025: €11,034
- Gross operating margin -€5,057
down €5,057 (-6.5%), from €78,053 to €72,996
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 | €133,326 | €801,069 | +€667,743 | +500.8% |
| Fixed assets | 21/28 | €53,890 | €672,748 | +€618,859 | +1148.4% |
| Tangible fixed assets | 22/27 | €53,890 | €672,748 | +€618,859 | +1148.4% |
| Land and buildings | 22 | €25,000 | €610,211 | +€585,211 | +2340.8% |
| Furniture and vehicles | 24 | €197 | €1,230 | +€1,033 | +524.0% |
| Leasing and similar rights | 25 | €28,692 | €61,308 | +€32,615 | +113.7% |
| Current assets | 29/58 | €79,437 | €128,321 | +€48,884 | +61.5% |
| Amounts receivable within one year | 40/41 | €26,747 | €110,254 | +€83,508 | +312.2% |
| Trade receivables | 40 | €10,709 | €13,661 | +€2,952 | +27.6% |
| Other amounts receivable | 41 | €16,038 | €96,593 | +€80,555 | +502.3% |
| Cash at bank and in hand | 54/58 | €50,429 | €14,813 | -€35,617 | -70.6% |
| Deferred charges and accrued income | 490/1 | €2,261 | €3,253 | +€993 | +43.9% |
| Total equity and liabilities | 10/49 | €133,326 | €801,069 | +€667,743 | +500.8% |
| Equity | 10/15 | €86,195 | €81,156 | -€5,039 | -5.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,195 | €79,156 | -€5,039 | -6.0% |
| Amounts payable | 17/49 | €47,131 | €719,913 | +€672,782 | +1427.5% |
| Amounts payable after more than one year | 17 | €20,843 | €489,921 | +€469,078 | +2250.5% |
| Financial debts | 170/4 | €20,843 | €489,921 | +€469,078 | +2250.5% |
| Amounts payable within one year | 42/48 | €23,030 | €224,132 | +€201,102 | +873.2% |
| Current portion of amounts payable after more than one year | 42 | €8,998 | €48,073 | +€39,075 | +434.3% |
| Trade debts | 44 | €5,091 | €18,734 | +€13,643 | +268.0% |
| Suppliers | 440/4 | €5,091 | €18,734 | +€13,643 | +268.0% |
| Taxes, remuneration and social security | 45 | €8,108 | €26,412 | +€18,304 | +225.8% |
| Taxes | 450/3 | €6,108 | €22,008 | +€15,900 | +260.3% |
| Remuneration and social security | 454/9 | €2,000 | €4,404 | +€2,404 | +120.2% |
| Other amounts payable | 47/48 | €833 | €130,913 | +€130,080 | +15615.9% |
| Accrued charges and deferred income | 492/3 | €3,258 | €5,860 | +€2,602 | +79.9% |
| Remuneration, social security and pensions | 62 | - | €11,034 | +€11,034 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,500 | €51,564 | +€42,064 | +442.8% |
| Other operating charges | 640/8 | €2,563 | €2,731 | +€168 | +6.6% |
| Non-recurring operating charges | 66A | €5,897 | - | -€5,897 | |
| Gross operating margin | 9900 | €78,053 | €72,996 | -€5,057 | -6.5% |
| Operating profit (loss) | 9901 | €60,093 | €7,667 | -€52,426 | -87.2% |
| Financial income | 75/76B | - | €2,678 | +€2,678 | |
| Recurring financial income | 75 | - | €2,678 | +€2,678 | |
| Financial charges | 65/66B | €2,116 | €15,228 | +€13,112 | +619.6% |
| Recurring financial charges | 65 | €2,116 | €15,228 | +€13,112 | +619.6% |
| Profit (loss) for the period before taxes | 9903 | €57,977 | -€4,883 | -€62,859 | |
| Income taxes | 67/77 | €12,022 | €157 | -€11,865 | -98.7% |
| Profit (loss) for the period | 9904 | €45,955 | -€5,039 | -€50,994 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,955 | -€5,039 | -€50,994 |
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 11 October 2026 via checked.be.