SLEURS MANAGEMENT: 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
SLEURS MANAGEMENT
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€66,034
2024 · -€188,156+€122,122
Equity
€740,710
2024 · €806,744-€66,034
Cash
€38,589
2024 · €28,470+€10,119
Balance sheet total
€9.8m
2024 · €10.0m-€217,296
Largest movements
Assets
- Tangible fixed assets -€351,949
down €351,949 (-5.6%), from €6.3m to €6.0m
of which Land and buildings: -€340,708
Equity and liabilities
- Debts after one year -€205,120
down €205,120 (-2.5%), from €8.3m to €8.1m
Income statement
- Taxes -€47,939
down €47,939 (-98.8%), from €48,533 to €594
- Depreciation -€25,287
down €25,287 (-6.6%), from €381,768 to €356,482
- Gross operating margin +€18,573
up €18,573 (+5.8%), from €320,750 to €339,323
- Financial charges -€11,647
down €11,647 (-21.1%), from €55,157 to €43,510
- Other operating charges -€9,975
down €9,975 (-27.7%), from €36,062 to €26,087
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.
Result 2024
-€188,156
Gross operating margin
+€18,573
Depreciation
+€25,287
Other operating charges
+€9,975
Financial income
+€8,701
Financial charges
+€11,647
Taxes
+€47,939
Result 2025
-€66,034
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.
From operations
+€215,652
Investment
-€4,532
Financing
-€201,000
Cash 2024
€28,470
From operations (derived)
+€215,652
Net result for the year
-€66,034
Depreciation
+€356,482
Stocks and contracts
-€94,310
Receivables within one year
-€18,663
Deferred charges and accrued income
-€11,561
Provisions
-€12,614
Trade debts
-€8,254
Tax, wage and social debts
+€2,580
Other debts
+€91,424
Accrued charges and deferred income
-€23,397
Investment (derived)
-€4,532
Investment in fixed assets (net)
-€4,532
Financing
-€201,000
Debts after one year
-€205,120
Current portion of long-term debt
+€4,120
Contributions, distributions and other
-€0
Cash 2025
€38,589
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,992,901 | €9,775,605 | -€217,296 | -2.2% |
| Fixed assets | 21/28 | €6,313,808 | €5,961,859 | -€351,949 | -5.6% |
| Tangible fixed assets | 22/27 | €6,313,808 | €5,961,859 | -€351,949 | -5.6% |
| Land and buildings | 22 | €6,270,039 | €5,929,331 | -€340,708 | -5.4% |
| Furniture and vehicles | 24 | €43,769 | €32,528 | -€11,242 | -25.7% |
| Current assets | 29/58 | €3,679,093 | €3,813,746 | +€134,653 | +3.7% |
| Stocks and contracts in progress | 3 | €3,632,229 | €3,726,539 | +€94,310 | +2.6% |
| Stocks | 30/36 | €3,632,229 | €3,726,539 | +€94,310 | +2.6% |
| Amounts receivable within one year | 40/41 | €18,393 | €37,056 | +€18,663 | +101.5% |
| Trade receivables | 40 | €4,250 | €35,000 | +€30,750 | +723.5% |
| Other amounts receivable | 41 | €14,143 | €2,056 | -€12,087 | -85.5% |
| Cash at bank and in hand | 54/58 | €28,470 | €38,589 | +€10,119 | +35.5% |
| Deferred charges and accrued income | 490/1 | €0 | €11,561 | +€11,561 | |
| Total equity and liabilities | 10/49 | €9,992,901 | €9,775,605 | -€217,296 | -2.2% |
| Equity | 10/15 | €806,744 | €740,710 | -€66,034 | -8.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €658,185 | €620,344 | -€37,842 | -5.7% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €643,312 | €605,470 | -€37,842 | -5.9% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€177 | -€28,370 | -€28,193 | -15895.7% |
| Provisions and deferred taxes | 16 | €214,437 | €201,823 | -€12,614 | -5.9% |
| Deferred taxes | 168 | €214,437 | €201,823 | -€12,614 | -5.9% |
| Amounts payable | 17/49 | €8,971,719 | €8,833,072 | -€138,648 | -1.5% |
| Amounts payable after more than one year | 17 | €8,286,728 | €8,081,608 | -€205,120 | -2.5% |
| Financial debts | 170/4 | €8,286,728 | €8,081,608 | -€205,120 | -2.5% |
| Amounts payable within one year | 42/48 | €521,920 | €611,789 | +€89,869 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €217,920 | €222,040 | +€4,120 | +1.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,946 | €22,692 | -€8,254 | -26.7% |
| Suppliers | 440/4 | €30,946 | €22,692 | -€8,254 | -26.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,501 | €5,081 | +€2,580 | +103.1% |
| Taxes | 450/3 | €2,501 | €5,081 | +€2,580 | +103.1% |
| Other amounts payable | 47/48 | €270,552 | €361,976 | +€91,424 | +33.8% |
| Accrued charges and deferred income | 492/3 | €163,072 | €139,674 | -€23,397 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381,768 | €356,482 | -€25,287 | -6.6% |
| Other operating charges | 640/8 | €36,062 | €26,087 | -€9,975 | -27.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €320,750 | €339,323 | +€18,573 | +5.8% |
| Operating profit (loss) | 9901 | -€97,081 | -€43,246 | +€53,834 | +55.5% |
| Financial income | 75/76B | - | €8,701 | +€8,701 | |
| Recurring financial income | 75 | - | €162 | +€162 | |
| Non-recurring financial income | 76B | - | €8,539 | +€8,539 | |
| Financial charges | 65/66B | €55,157 | €43,510 | -€11,647 | -21.1% |
| Recurring financial charges | 65 | €55,157 | €43,510 | -€11,647 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€152,238 | -€78,055 | +€74,183 | +48.7% |
| Transfer from deferred taxes | 780 | €12,614 | €12,614 | = | 0.0% |
| Income taxes | 67/77 | €48,533 | €594 | -€47,939 | -98.8% |
| Profit (loss) for the period | 9904 | -€188,156 | -€66,034 | +€122,122 | +64.9% |
| Transfer from tax-exempt reserves | 789 | €37,842 | €37,842 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€150,314 | -€28,193 | +€122,122 | +81.2% |
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 9 October 2026 via checked.be.