SLS Group: 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
SLS Group
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64,901
2024 · €39,814+€25,087
Equity
€1.3m
2024 · €1.3m+€18,540
Cash
€68,579
2024 · €19,463+€49,116
Balance sheet total
€3.3m
2024 · €3.0m+€354,292
Largest movements
Assets
- Receivables within one year +€410,745
up €410,745 (+1833.8%), from €22,399 to €433,144
of which Other amounts receivable: +€412,195
- Tangible fixed assets -€103,506
down €103,506 (-3.6%), from €2.9m to €2.8m
of which Land and buildings: -€99,570
- Cash +€49,116
up €49,116 (+252.3%), from €19,463 to €68,579
mainly Debts after one year (+€308,003) and Depreciation (+€144,002)
Equity and liabilities
- Debts after one year +€308,003
up €308,003 (+23.6%), from €1.3m to €1.6m
Income statement
- Depreciation -€65,494
down €65,494 (-31.3%), from €209,496 to €144,002
- Gross operating margin -€35,091
down €35,091 (-10.4%), from €337,152 to €302,061
- Financial charges +€6,471
up €6,471 (+18.2%), from €35,601 to €42,073
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
€39,814
Gross operating margin
-€35,091
Staff costs
+€1,575
Depreciation
+€65,494
Other operating charges
-€2,102
Financial income
+€2,097
Financial charges
-€6,471
Taxes
-€414
Result 2025
€64,901
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
-€180,359
Investment
-€42,948
Financing
+€272,423
Cash 2024
€19,463
From operations (derived)
-€180,359
Net result for the year
+€64,901
Depreciation
+€144,002
Receivables within one year
-€410,745
Deferred charges and accrued income
+€4,514
Trade debts
+€19,843
Tax, wage and social debts
-€25,347
Other debts
+€16,572
Accrued charges and deferred income
+€5,901
Investment (derived)
-€42,948
Investment in fixed assets (net)
-€40,497
Current investments
-€2,451
Financing
+€272,423
Debts after one year
+€308,003
Current portion of long-term debt
-€9,219
Short-term financial debts
+€20,000
Contributions, distributions and other
-€46,361
Cash 2025
€68,579
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,981,055 | €3,335,347 | +€354,292 | +11.9% |
| Fixed assets | 21/28 | €2,923,773 | €2,820,267 | -€103,506 | -3.5% |
| Tangible fixed assets | 22/27 | €2,875,623 | €2,772,117 | -€103,506 | -3.6% |
| Land and buildings | 22 | €2,860,140 | €2,760,570 | -€99,570 | -3.5% |
| Plant, machinery and equipment | 23 | €15,483 | €11,547 | -€3,936 | -25.4% |
| Financial fixed assets | 28 | €48,150 | €48,150 | = | 0.0% |
| Current assets | 29/58 | €57,282 | €515,080 | +€457,798 | +799.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €6,920 | €6,920 | = | 0.0% |
| Stocks | 30/36 | €6,920 | €6,920 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,399 | €433,144 | +€410,745 | +1833.8% |
| Trade receivables | 40 | €20,933 | €19,483 | -€1,450 | -6.9% |
| Other amounts receivable | 41 | €1,466 | €413,660 | +€412,195 | +28123.7% |
| Current investments | 50/53 | - | €2,451 | +€2,451 | |
| Cash at bank and in hand | 54/58 | €19,463 | €68,579 | +€49,116 | +252.3% |
| Deferred charges and accrued income | 490/1 | €8,500 | €3,986 | -€4,514 | -53.1% |
| Total equity and liabilities | 10/49 | €2,981,055 | €3,335,347 | +€354,292 | +11.9% |
| Equity | 10/15 | €1,251,002 | €1,269,541 | +€18,540 | +1.5% |
| Contributions | 10/11 | €582,000 | €582,000 | = | 0.0% |
| Reserves | 13 | €669,002 | €687,541 | +€18,540 | +2.8% |
| Tax-exempt reserves | 132 | €92,620 | €67,360 | -€25,260 | -27.3% |
| Distributable reserves | 133 | €576,382 | €620,181 | +€43,800 | +7.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,730,053 | €2,065,806 | +€335,752 | +19.4% |
| Amounts payable after more than one year | 17 | €1,302,950 | €1,610,953 | +€308,003 | +23.6% |
| Financial debts | 170/4 | €1,302,950 | €1,610,953 | +€308,003 | +23.6% |
| Amounts payable within one year | 42/48 | €386,343 | €408,191 | +€21,848 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €174,445 | €165,226 | -€9,219 | -5.3% |
| Financial debts | 43 | €10,036 | €30,036 | +€20,000 | +199.3% |
| Credit institutions | 430/8 | €36 | €36 | -€0 | -0.1% |
| Other loans | 439 | €10,000 | €30,000 | +€20,000 | +200.0% |
| Trade debts | 44 | €31,851 | €51,694 | +€19,843 | +62.3% |
| Suppliers | 440/4 | €31,851 | €51,694 | +€19,843 | +62.3% |
| Taxes, remuneration and social security | 45 | €33,234 | €7,887 | -€25,347 | -76.3% |
| Taxes | 450/3 | €33,234 | €7,887 | -€25,347 | -76.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €136,776 | €153,348 | +€16,572 | +12.1% |
| Accrued charges and deferred income | 492/3 | €40,760 | €46,662 | +€5,901 | +14.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,575 | €0 | -€1,575 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,496 | €144,002 | -€65,494 | -31.3% |
| Other operating charges | 640/8 | €25,077 | €27,179 | +€2,102 | +8.4% |
| Gross operating margin | 9900 | €337,152 | €302,061 | -€35,091 | -10.4% |
| Operating profit (loss) | 9901 | €101,004 | €130,879 | +€29,875 | +29.6% |
| Financial income | 75/76B | €10,679 | €12,776 | +€2,097 | +19.6% |
| Recurring financial income | 75 | €10,679 | €12,776 | +€2,097 | +19.6% |
| Financial charges | 65/66B | €35,601 | €42,073 | +€6,471 | +18.2% |
| Recurring financial charges | 65 | €35,601 | €42,073 | +€6,471 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €76,082 | €101,583 | +€25,501 | +33.5% |
| Income taxes | 67/77 | €36,268 | €36,682 | +€414 | +1.1% |
| Profit (loss) for the period | 9904 | €39,814 | €64,901 | +€25,087 | +63.0% |
| Transfer from tax-exempt reserves | 789 | €168,400 | €25,260 | -€143,140 | -85.0% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €166,114 | €90,161 | -€75,953 | -45.7% |
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 5 October 2026 via checked.be.