SLAETS: 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.
What changed
SLAETS
NACE 47.770, Retail sale of watches and jewellery
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€431,873
2023 · €799,460-€367,587
Equity
€7.3m
2023 · €6.9m+€431,873
Cash
€168,994
2023 · €277,540-€108,545
Balance sheet total
€11.6m
2023 · €12.5m-€901,843
Largest movements
Assets
- Tangible fixed assets -€932,473
down €932,473 (-23.9%), from €3.9m to €3.0m
of which Land and buildings: -€780,223
- Stocks and contracts +€139,245
up €139,245 (+1.7%), from €8.0m to €8.1m
Equity and liabilities
- Debts after one year -€717,839
down €717,839 (-35.0%), from €2.1m to €1.3m
- Reserves +€431,873
up €431,873 (+6.4%), from €6.8m to €7.2m
of which Distributable reserves: +€893,815
- Short-term financial debts -€262,296
down €262,296 (-100.0%), from €262,296 to €0
- Provisions -€153,980
down €153,980 (-100.0%), from €153,980 to €0
Income statement
- Turnover -€1.1m
down €1.1m (-7.2%), from €15.0m to €13.9m
- Goods and materials -€614,197
down €614,197 (-6.3%), from €9.8m to €9.1m
of which Purchases: -€746,648
- Depreciation -€151,186
down €151,186 (-33.4%), from €452,486 to €301,300
From the 2023 result to the 2024 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.
Result 2023
€799,460
Turnover
-€1.1m
Other operating income
+€3,292
Goods and materials
+€614,197
Services and other goods
-€47,252
Staff costs
-€80,037
Depreciation
+€151,186
Write-downs
-€143,219
Other operating charges
+€630
Other operating items
+€171,924
Financial income
+€1,099
Financial charges
-€41,330
Taxes
-€58,705
Deferred taxes and other
+€138,645
Result 2024
€431,873
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€343,487
Investment
+€631,173
Financing
-€1.1m
Cash 2023
€277,540
From operations (derived)
+€343,487
Net result for the year
+€431,873
Depreciation
+€301,300
Stocks and contracts
-€139,245
Receivables within one year
-€13,978
Deferred charges and accrued income
+€14,048
Provisions
-€153,980
Trade debts
-€82,957
Tax, wage and social debts
+€15,002
Advances received
+€99,276
Other debts
-€118,523
Accrued charges and deferred income
-€9,330
Investment (derived)
+€631,173
Investment in fixed assets (net)
+€631,173
Financing
-€1.1m
Debts after one year
-€717,839
Current portion of long-term debt
-€103,070
Short-term financial debts
-€262,296
Cash 2024
€168,994
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,496,955 | €11,595,112 | -€901,843 | -7.2% |
| Fixed assets | 21/28 | €3,916,893 | €2,984,420 | -€932,473 | -23.8% |
| Tangible fixed assets | 22/27 | €3,905,447 | €2,972,973 | -€932,473 | -23.9% |
| Land and buildings | 22 | €780,223 | €0 | -€780,223 | -100.0% |
| Plant, machinery and equipment | 23 | €15,166 | €17,276 | +€2,110 | +13.9% |
| Furniture and vehicles | 24 | €85,564 | €60,911 | -€24,653 | -28.8% |
| Other tangible fixed assets | 26 | €3,024,495 | €2,894,787 | -€129,708 | -4.3% |
| Financial fixed assets | 28 | €11,446 | €11,446 | = | 0.0% |
| Other financial fixed assets | 284/8 | €11,446 | €11,446 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €11,446 | €11,446 | = | 0.0% |
| Current assets | 29/58 | €8,580,063 | €8,610,692 | +€30,630 | +0.4% |
| Stocks and contracts in progress | 3 | €7,988,131 | €8,127,376 | +€139,245 | +1.7% |
| Stocks | 30/36 | €7,988,131 | €8,127,376 | +€139,245 | +1.7% |
| Goods purchased for resale | 34 | €7,988,131 | €8,127,376 | +€139,245 | +1.7% |
| Amounts receivable within one year | 40/41 | €271,826 | €285,804 | +€13,978 | +5.1% |
| Trade receivables | 40 | €182,835 | €22,192 | -€160,643 | -87.9% |
| Other amounts receivable | 41 | €88,991 | €263,612 | +€174,621 | +196.2% |
| Cash at bank and in hand | 54/58 | €277,540 | €168,994 | -€108,545 | -39.1% |
| Deferred charges and accrued income | 490/1 | €42,565 | €28,518 | -€14,048 | -33.0% |
| Total equity and liabilities | 10/49 | €12,496,955 | €11,595,112 | -€901,843 | -7.2% |
| Equity | 10/15 | €6,881,146 | €7,313,019 | +€431,873 | +6.3% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €6,757,199 | €7,189,072 | +€431,873 | +6.4% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €461,941 | €0 | -€461,941 | -100.0% |
| Distributable reserves | 133 | €6,282,863 | €7,176,678 | +€893,815 | +14.2% |
| Provisions and deferred taxes | 16 | €153,980 | €0 | -€153,980 | -100.0% |
| Deferred taxes | 168 | €153,980 | €0 | -€153,980 | -100.0% |
| Amounts payable | 17/49 | €5,461,829 | €4,282,093 | -€1.2m | -21.6% |
| Amounts payable after more than one year | 17 | €2,052,471 | €1,334,632 | -€717,839 | -35.0% |
| Financial debts | 170/4 | €2,052,471 | €1,334,632 | -€717,839 | -35.0% |
| Credit institutions | 173 | €2,052,471 | €1,334,632 | -€717,839 | -35.0% |
| Amounts payable within one year | 42/48 | €3,164,165 | €2,711,597 | -€452,567 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €257,707 | €154,637 | -€103,070 | -40.0% |
| Financial debts | 43 | €262,296 | €0 | -€262,296 | -100.0% |
| Credit institutions | 430/8 | €262,296 | €0 | -€262,296 | -100.0% |
| Trade debts | 44 | €1,595,474 | €1,512,517 | -€82,957 | -5.2% |
| Suppliers | 440/4 | €1,595,474 | €1,512,517 | -€82,957 | -5.2% |
| Advances received on contracts in progress | 46 | €162,906 | €262,183 | +€99,276 | +60.9% |
| Taxes, remuneration and social security | 45 | €260,909 | €275,911 | +€15,002 | +5.8% |
| Taxes | 450/3 | €112,798 | €113,536 | +€738 | +0.7% |
| Remuneration and social security | 454/9 | €148,111 | €162,376 | +€14,265 | +9.6% |
| Other amounts payable | 47/48 | €624,873 | €506,350 | -€118,523 | -19.0% |
| Accrued charges and deferred income | 492/3 | €245,193 | €235,863 | -€9,330 | -3.8% |
| Operating income | 70/76A | €15,037,746 | €14,152,159 | -€885,586 | -5.9% |
| Turnover | 70 | €14,961,890 | €13,883,871 | -€1.1m | -7.2% |
| Other operating income | 74 | €75,856 | €79,148 | +€3,292 | +4.3% |
| Non-recurring operating income | 76A | - | €189,140 | +€189,140 | |
| Operating charges | 60/66A | €13,760,651 | €13,282,361 | -€478,290 | -3.5% |
| Goods for resale, raw materials and consumables | 60 | €9,756,549 | €9,142,352 | -€614,197 | -6.3% |
| Purchases | 600/8 | €10,284,442 | €9,537,793 | -€746,648 | -7.3% |
| Change in stocks: decrease (increase) | 609 | -€527,893 | -€395,442 | +€132,451 | +25.1% |
| Services and other goods | 61 | €2,139,424 | €2,186,676 | +€47,252 | +2.2% |
| Remuneration, social security and pensions | 62 | €1,203,066 | €1,283,103 | +€80,037 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452,486 | €301,300 | -€151,186 | -33.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €112,978 | €256,197 | +€143,219 | +126.8% |
| Other operating charges | 640/8 | €96,148 | €95,518 | -€630 | -0.7% |
| Non-recurring operating charges | 66A | - | €17,216 | +€17,216 | |
| Operating profit (loss) | 9901 | €1,277,094 | €869,799 | -€407,296 | -31.9% |
| Financial income | 75/76B | €483 | €1,583 | +€1,099 | +227.4% |
| Recurring financial income | 75 | €483 | €1,583 | +€1,099 | +227.4% |
| Income from current assets | 751 | - | €1,583 | +€1,583 | |
| Other financial income | 752/9 | €483 | €0 | -€483 | -100.0% |
| Financial charges | 65/66B | €228,120 | €269,450 | +€41,330 | +18.1% |
| Recurring financial charges | 65 | €228,120 | €269,450 | +€41,330 | +18.1% |
| Debt charges | 650 | €86,717 | €74,732 | -€11,986 | -13.8% |
| Other financial charges | 652/9 | €141,403 | €194,718 | +€53,315 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €1,049,458 | €601,931 | -€447,527 | -42.6% |
| Transfer from deferred taxes | 780 | €15,336 | €153,980 | +€138,645 | +904.1% |
| Income taxes | 67/77 | €265,333 | €324,038 | +€58,705 | +22.1% |
| Taxes | 670/3 | €265,333 | €324,038 | +€58,705 | +22.1% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €799,460 | €431,873 | -€367,587 | -46.0% |
| Transfer from tax-exempt reserves | 789 | €46,007 | €461,941 | +€415,934 | +904.1% |
| Profit (loss) for the period to be appropriated | 9905 | €845,467 | €893,815 | +€48,348 | +5.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.