SLC: 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.
SLC
Largest movements
- Financial fixed assets -€1.5m
down €1.5m (-24.2%), from €6.0m to €4.6m
- Debts after one year -€990,919
down €990,919 (-20.8%), from €4.8m to €3.8m
of which Other amounts payable: -€990,919
- Profit (loss) carried forward -€354,017
new in 2025: -€354,017
- Reserves -€213,771
down €213,771 (-74.4%), from €287,280 to €73,509
of which Distributable reserves: -€211,291
- Other debts +€134,058
up €134,058 (+58347.1%), from €230 to €134,288
- Tax, wage and social debts -€70,741
down €70,741 (-72.5%), from €97,581 to €26,841
of which Taxes: -€41,792
- Financial charges +€1.5m
up €1.5m (+716.3%), from €206,283 to €1.7m
of which Non-recurring financial charges: +€1.5m
- Financial income +€875,000
up €875,000, from €0 to €875,000
- Gross operating margin +€129,405
up €129,405 (+111.3%), from €116,235 to €245,640
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 | €6,027,690 | €4,554,777 | -€1.5m | -24.4% |
| Fixed assets | 21/28 | €6,004,953 | €4,553,810 | -€1.5m | -24.2% |
| Tangible fixed assets | 22/27 | €4,953 | €3,810 | -€1,143 | -23.1% |
| Furniture and vehicles | 24 | €4,953 | €3,810 | -€1,143 | -23.1% |
| Financial fixed assets | 28 | €6,000,000 | €4,550,000 | -€1.5m | -24.2% |
| Current assets | 29/58 | €22,737 | €967 | -€21,771 | -95.7% |
| Amounts receivable within one year | 40/41 | €18,150 | €0 | -€18,150 | -100.0% |
| Trade receivables | 40 | €18,150 | €0 | -€18,150 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,354 | €36 | -€2,318 | -98.5% |
| Deferred charges and accrued income | 490/1 | €2,234 | €930 | -€1,303 | -58.3% |
| Total equity and liabilities | 10/49 | €6,027,690 | €4,554,777 | -€1.5m | -24.4% |
| Equity | 10/15 | €312,080 | -€255,708 | -€567,788 | |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €287,280 | €73,509 | -€213,771 | -74.4% |
| Non-distributable reserves | 130/1 | €2,480 | €0 | -€2,480 | -100.0% |
| Reserves not available under the articles | 1311 | €2,480 | €0 | -€2,480 | -100.0% |
| Distributable reserves | 133 | €284,800 | €73,509 | -€211,291 | -74.2% |
| Profit (loss) carried forward | 14 | - | -€354,017 | -€354,017 | |
| Amounts payable | 17/49 | €5,715,611 | €4,810,485 | -€905,126 | -15.8% |
| Amounts payable after more than one year | 17 | €4,765,646 | €3,774,727 | -€990,919 | -20.8% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €4,765,646 | €3,774,727 | -€990,919 | -20.8% |
| Amounts payable within one year | 42/48 | €817,457 | €913,659 | +€96,202 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €689,574 | €723,575 | +€34,001 | +4.9% |
| Trade debts | 44 | €30,072 | €28,955 | -€1,117 | -3.7% |
| Suppliers | 440/4 | €30,072 | €28,955 | -€1,117 | -3.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €97,581 | €26,841 | -€70,741 | -72.5% |
| Taxes | 450/3 | €62,581 | €20,789 | -€41,792 | -66.8% |
| Remuneration and social security | 454/9 | €35,000 | €6,051 | -€28,949 | -82.7% |
| Other amounts payable | 47/48 | €230 | €134,288 | +€134,058 | +58347.1% |
| Accrued charges and deferred income | 492/3 | €132,508 | €122,099 | -€10,408 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €762 | €1,143 | +€381 | +50.0% |
| Other operating charges | 640/8 | €1,724 | €2,637 | +€913 | +52.9% |
| Gross operating margin | 9900 | €116,235 | €245,640 | +€129,405 | +111.3% |
| Operating profit (loss) | 9901 | €113,749 | €241,860 | +€128,111 | +112.6% |
| Financial income | 75/76B | €0 | €875,000 | +€875,000 | |
| Recurring financial income | 75 | €0 | €875,000 | +€875,000 | |
| Financial charges | 65/66B | €206,283 | €1,683,930 | +€1.5m | +716.3% |
| Recurring financial charges | 65 | €206,283 | €233,930 | +€27,647 | +13.4% |
| Non-recurring financial charges | 66B | - | €1,450,000 | +€1.5m | |
| Profit (loss) for the period before taxes | 9903 | -€92,534 | -€567,070 | -€474,536 | -512.8% |
| Income taxes | 67/77 | €578 | €718 | +€140 | +24.3% |
| Profit (loss) for the period | 9904 | -€93,112 | -€567,788 | -€474,676 | -509.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,112 | -€567,788 | -€474,676 | -509.8% |
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 7 October 2026 via checked.be.