Sleuf specialist: 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.
Sleuf specialist
Largest movements
- Receivables within one year +€17,747
up €17,747 (+64.3%), from €27,605 to €45,352
of which Other amounts receivable: +€25,003
- Cash -€4,350
down €4,350 (-46.8%), from €9,287 to €4,938
mainly Receivables within one year (-€17,747) and Net result for the year (-€5,017)
- Tangible fixed assets -€4,109
down €4,109 (-44.3%), from €9,283 to €5,173
- Debts after one year +€7,500
up €7,500 (+9.4%), from €80,000 to €87,500
- Trade debts +€5,520
up €5,520 (+157%), from €3,520 to €9,040
- Profit (loss) carried forward -€5,017
new in 2025: -€5,017
- Tax, wage and social debts +€1,482
up €1,482 (+98.7%), from €1,502 to €2,985
- Gross operating margin -€29,756
down €29,756, from €8,106 to -€21,650
- Financial income +€24,718
up €24,718 (+83,087%), from €30 to €24,748
- Financial charges +€1,813
up €1,813 (+2,836%), from €64 to €1,877
- Other operating charges +€1,428
up €1,428 (+97.2%), from €1,468 to €2,896
- Depreciation -€451
down €451 (-18.0%), from €2,506 to €2,054
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 | €122,256 | €131,995 | +€9,739 | +8.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €9,283 | €5,173 | -€4,109 | -44.3% |
| Tangible fixed assets | 22/27 | €9,283 | €5,173 | -€4,109 | -44.3% |
| Plant, machinery and equipment | 23 | €9,283 | €5,173 | -€4,109 | -44.3% |
| Current assets | 29/58 | €112,973 | €126,822 | +€13,848 | +12.3% |
| Amounts receivable within one year | 40/41 | €27,605 | €45,352 | +€17,747 | +64.3% |
| Trade receivables | 40 | €8,711 | €1,455 | -€7,256 | -83.3% |
| Other amounts receivable | 41 | €18,894 | €43,897 | +€25,003 | +132% |
| Current investments | 50/53 | €75,000 | €75,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,287 | €4,938 | -€4,350 | -46.8% |
| Deferred charges and accrued income | 490/1 | €1,081 | €1,532 | +€451 | +41.7% |
| Total equity and liabilities | 10/49 | €122,256 | €131,995 | +€9,739 | +8.0% |
| Equity | 10/15 | €9,069 | €4,051 | -€5,017 | -55.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,069 | €4,069 | = | 0.0% |
| Distributable reserves | 133 | €4,069 | €4,069 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,017 | -€5,017 | |
| Amounts payable | 17/49 | €113,187 | €127,943 | +€14,756 | +13.0% |
| Amounts payable after more than one year | 17 | €80,000 | €87,500 | +€7,500 | +9.4% |
| Other amounts payable | 178/9 | €80,000 | €87,500 | +€7,500 | +9.4% |
| Amounts payable within one year | 42/48 | €33,187 | €40,443 | +€7,256 | +21.9% |
| Trade debts | 44 | €3,520 | €9,040 | +€5,520 | +157% |
| Suppliers | 440/4 | €3,520 | €9,040 | +€5,520 | +157% |
| Taxes, remuneration and social security | 45 | €1,502 | €2,985 | +€1,482 | +98.7% |
| Taxes | 450/3 | €1,502 | €2,985 | +€1,482 | +98.7% |
| Other amounts payable | 47/48 | €28,165 | €28,419 | +€254 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,506 | €2,054 | -€451 | -18.0% |
| Other operating charges | 640/8 | €1,468 | €2,896 | +€1,428 | +97.2% |
| Gross operating margin | 9900 | €8,106 | -€21,650 | -€29,756 | |
| Operating profit (loss) | 9901 | €4,132 | -€26,600 | -€30,732 | |
| Financial income | 75/76B | €30 | €24,748 | +€24,718 | +83,087% |
| Recurring financial income | 75 | €30 | €24,748 | +€24,718 | +83,087% |
| Financial charges | 65/66B | €64 | €1,877 | +€1,813 | +2,836% |
| Recurring financial charges | 65 | €64 | €1,877 | +€1,813 | +2,836% |
| Profit (loss) for the period before taxes | 9903 | €4,098 | -€3,729 | -€7,827 | |
| Income taxes | 67/77 | €1,140 | €1,288 | +€148 | +13.0% |
| Profit (loss) for the period | 9904 | €2,958 | -€5,017 | -€7,975 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,958 | -€5,017 | -€7,975 |
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 20 October 2026 via checked.be.