SLM Management: 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.
SLM Management
Largest movements
- Receivables within one year +€33,426
up €33,426 (+19.1%), from €174,600 to €208,026
of which Trade receivables: +€33,618
- Cash +€12,000
up €12,000 (+95.1%), from €12,625 to €24,625
mainly Net result for the year (+€74,060) and Other debts (+€59,815)
- Other debts +€59,815
new in 2025: €59,815
- Tax, wage and social debts -€15,741
down €15,741 (-44.2%), from €35,633 to €19,892
- Reserves +€10,157
up €10,157 (+6.9%), from €147,965 to €158,121
- Accrued charges and deferred income -€9,938
down €9,938 (-93.0%), from €10,688 to €750
- Gross operating margin +€19,329
up €19,329 (+22.1%), from €87,397 to €106,726
- Taxes +€3,876
up €3,876 (+15.7%), from €24,697 to €28,573
- Depreciation +€1,528
up €1,528 (+135%), from €1,128 to €2,656
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 | €214,285 | €258,190 | +€43,905 | +20.5% |
| Fixed assets | 21/28 | €10,121 | €8,573 | -€1,548 | -15.3% |
| Tangible fixed assets | 22/27 | €10,121 | €8,573 | -€1,548 | -15.3% |
| Land and buildings | 22 | €4,055 | €3,783 | -€272 | -6.7% |
| Furniture and vehicles | 24 | €6,066 | €4,791 | -€1,275 | -21.0% |
| Current assets | 29/58 | €204,164 | €249,617 | +€45,452 | +22.3% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €174,600 | €208,026 | +€33,426 | +19.1% |
| Trade receivables | 40 | €154,502 | €188,120 | +€33,618 | +21.8% |
| Other amounts receivable | 41 | €20,098 | €19,906 | -€191 | -1.0% |
| Current investments | 50/53 | €6,940 | €6,966 | +€26 | +0.4% |
| Cash at bank and in hand | 54/58 | €12,625 | €24,625 | +€12,000 | +95.1% |
| Total equity and liabilities | 10/49 | €214,285 | €258,190 | +€43,905 | +20.5% |
| Equity | 10/15 | €162,965 | €173,121 | +€10,157 | +6.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €147,965 | €158,121 | +€10,157 | +6.9% |
| Distributable reserves | 133 | €147,965 | €158,121 | +€10,157 | +6.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €51,320 | €85,068 | +€33,748 | +65.8% |
| Amounts payable within one year | 42/48 | €40,632 | €84,318 | +€43,686 | +108% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,999 | €4,612 | -€388 | -7.8% |
| Suppliers | 440/4 | €4,999 | €4,612 | -€388 | -7.8% |
| Taxes, remuneration and social security | 45 | €35,633 | €19,892 | -€15,741 | -44.2% |
| Taxes | 450/3 | €35,633 | €19,892 | -€15,741 | -44.2% |
| Other amounts payable | 47/48 | - | €59,815 | +€59,815 | |
| Accrued charges and deferred income | 492/3 | €10,688 | €750 | -€9,938 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,128 | €2,656 | +€1,528 | +135% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €493 | €818 | +€324 | +65.7% |
| Gross operating margin | 9900 | €87,397 | €106,726 | +€19,329 | +22.1% |
| Operating profit (loss) | 9901 | €85,775 | €103,252 | +€17,477 | +20.4% |
| Financial income | 75/76B | €556 | €926 | +€370 | +66.6% |
| Recurring financial income | 75 | €556 | €926 | +€370 | +66.6% |
| Financial charges | 65/66B | €858 | €1,544 | +€686 | +80.0% |
| Recurring financial charges | 65 | €858 | €1,544 | +€686 | +80.0% |
| Profit (loss) for the period before taxes | 9903 | €85,473 | €102,634 | +€17,161 | +20.1% |
| Income taxes | 67/77 | €24,697 | €28,573 | +€3,876 | +15.7% |
| Profit (loss) for the period | 9904 | €60,776 | €74,060 | +€13,285 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,776 | €74,060 | +€13,285 | +21.9% |
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 22 October 2026 via checked.be.