SLEUTEL EXPRES: 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.
SLEUTEL EXPRES
Largest movements
- Cash +€147,485
up €147,485 (+104%), from €142,015 to €289,500
mainly Current investments (+€100,000) and Net result for the year (+€43,099)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Reserves +€43,000
up €43,000 (+21.9%), from €196,384 to €239,384
- Tax, wage and social debts -€5,421
down €5,421 (-31.6%), from €17,137 to €11,716
- Gross operating margin -€16,561
down €16,561 (-21.7%), from €76,165 to €59,603
- Taxes -€3,608
down €3,608 (-17.9%), from €20,203 to €16,595
- Depreciation -€2,767
down €2,767 (-67.2%), from €4,117 to €1,350
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 | €440,142 | €476,454 | +€36,312 | +8.2% |
| Fixed assets | 21/28 | €3,885 | €3,903 | +€18 | +0.5% |
| Tangible fixed assets | 22/27 | €3,885 | €3,903 | +€18 | +0.5% |
| Plant, machinery and equipment | 23 | €3,885 | €3,903 | +€18 | +0.5% |
| Current assets | 29/58 | €436,257 | €472,550 | +€36,294 | +8.3% |
| Stocks and contracts in progress | 3 | €179,892 | €176,214 | -€3,678 | -2.0% |
| Stocks | 30/36 | €179,892 | €176,214 | -€3,678 | -2.0% |
| Amounts receivable within one year | 40/41 | €7,181 | €2,463 | -€4,718 | -65.7% |
| Trade receivables | 40 | €7,181 | €2,463 | -€4,718 | -65.7% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €142,015 | €289,500 | +€147,485 | +104% |
| Deferred charges and accrued income | 490/1 | €7,169 | €4,373 | -€2,796 | -39.0% |
| Total equity and liabilities | 10/49 | €440,142 | €476,454 | +€36,312 | +8.2% |
| Equity | 10/15 | €275,190 | €318,290 | +€43,099 | +15.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €196,384 | €239,384 | +€43,000 | +21.9% |
| Distributable reserves | 133 | €196,384 | €239,384 | +€43,000 | +21.9% |
| Profit (loss) carried forward | 14 | €66,406 | €66,506 | +€99 | +0.1% |
| Amounts payable | 17/49 | €164,952 | €158,164 | -€6,788 | -4.1% |
| Amounts payable within one year | 42/48 | €158,747 | €153,306 | -€5,441 | -3.4% |
| Trade debts | 44 | €916 | €511 | -€405 | -44.2% |
| Suppliers | 440/4 | €916 | €511 | -€405 | -44.2% |
| Taxes, remuneration and social security | 45 | €17,137 | €11,716 | -€5,421 | -31.6% |
| Taxes | 450/3 | €17,137 | €11,716 | -€5,421 | -31.6% |
| Other amounts payable | 47/48 | €140,694 | €141,079 | +€385 | +0.3% |
| Accrued charges and deferred income | 492/3 | €6,205 | €4,858 | -€1,347 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,117 | €1,350 | -€2,767 | -67.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €48 | -€409 | -€457 | |
| Other operating charges | 640/8 | €1,168 | €1,287 | +€120 | +10.3% |
| Gross operating margin | 9900 | €76,165 | €59,603 | -€16,561 | -21.7% |
| Operating profit (loss) | 9901 | €70,832 | €57,375 | -€13,457 | -19.0% |
| Financial income | 75/76B | €2,522 | €3,001 | +€479 | +19.0% |
| Recurring financial income | 75 | €2,522 | €3,001 | +€479 | +19.0% |
| Financial charges | 65/66B | €570 | €681 | +€111 | +19.6% |
| Recurring financial charges | 65 | €570 | €681 | +€111 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €72,785 | €59,695 | -€13,090 | -18.0% |
| Income taxes | 67/77 | €20,203 | €16,595 | -€3,608 | -17.9% |
| Profit (loss) for the period | 9904 | €52,582 | €43,099 | -€9,482 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,582 | €43,099 | -€9,482 | -18.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.