SLW Solutions: 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.
SLW Solutions
Largest movements
- Receivables within one year +€57,635
up €57,635 (+90.0%), from €64,071 to €121,706
of which Trade receivables: +€41,857
- Cash +€16,512
up €16,512 (+36.6%), from €45,169 to €61,681
mainly Net result for the year (+€80,109) and Depreciation (+€17,701)
- Deferred charges and accrued income -€12,093
down €12,093 (-96.9%), from €12,483 to €390
- Tangible fixed assets -€5,606
down €5,606 (-11.3%), from €49,782 to €44,176
of which Leasing and similar rights: -€6,283
- Financial fixed assets +€4,200
new in 2025: €4,200
- Profit (loss) carried forward +€35,673
no longer reported in 2025 (was -€35,673)
- Reserves +€24,436
up €24,436 (+23.4%), from €104,550 to €128,986
- Trade debts -€16,361
down €16,361 (-41.2%), from €39,754 to €23,394
- Tax, wage and social debts +€15,743
up €15,743 (+54.2%), from €29,068 to €44,811
of which Taxes: +€12,928
- Accrued charges and deferred income +€11,858
new in 2025: €11,858
- Gross operating margin +€173,509
up €173,509 (+126%), from €137,976 to €311,485
- Taxes +€25,905
up €25,905 (+8,254%), from €314 to €26,219
- Write-downs +€15,405
new in 2025: €15,405
- Staff costs +€9,916
up €9,916 (+6.5%), from €153,297 to €163,213
- Depreciation +€4,609
up €4,609 (+35.2%), from €13,092 to €17,701
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 | €171,505 | €232,153 | +€60,648 | +35.4% |
| Fixed assets | 21/28 | €49,782 | €48,376 | -€1,406 | -2.8% |
| Tangible fixed assets | 22/27 | €49,782 | €44,176 | -€5,606 | -11.3% |
| Plant, machinery and equipment | 23 | €12,633 | €9,886 | -€2,747 | -21.7% |
| Furniture and vehicles | 24 | €9,408 | €12,832 | +€3,424 | +36.4% |
| Leasing and similar rights | 25 | €27,741 | €21,458 | -€6,283 | -22.6% |
| Financial fixed assets | 28 | - | €4,200 | +€4,200 | |
| Current assets | 29/58 | €121,723 | €183,777 | +€62,054 | +51.0% |
| Amounts receivable within one year | 40/41 | €64,071 | €121,706 | +€57,635 | +90.0% |
| Trade receivables | 40 | €54,573 | €96,430 | +€41,857 | +76.7% |
| Other amounts receivable | 41 | €9,499 | €25,277 | +€15,778 | +166% |
| Cash at bank and in hand | 54/58 | €45,169 | €61,681 | +€16,512 | +36.6% |
| Deferred charges and accrued income | 490/1 | €12,483 | €390 | -€12,093 | -96.9% |
| Total equity and liabilities | 10/49 | €171,505 | €232,153 | +€60,648 | +35.4% |
| Equity | 10/15 | €71,376 | €131,486 | +€60,109 | +84.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €104,550 | €128,986 | +€24,436 | +23.4% |
| Distributable reserves | 133 | €104,550 | €128,986 | +€24,436 | +23.4% |
| Profit (loss) carried forward | 14 | -€35,673 | - | +€35,673 | |
| Amounts payable | 17/49 | €100,128 | €100,667 | +€539 | +0.5% |
| Amounts payable after more than one year | 17 | €20,605 | €16,184 | -€4,421 | -21.5% |
| Financial debts | 170/4 | €20,605 | €16,184 | -€4,421 | -21.5% |
| Amounts payable within one year | 42/48 | €79,524 | €72,626 | -€6,898 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €4,140 | €4,421 | +€281 | +6.8% |
| Trade debts | 44 | €39,754 | €23,394 | -€16,361 | -41.2% |
| Suppliers | 440/4 | €39,754 | €23,394 | -€16,361 | -41.2% |
| Taxes, remuneration and social security | 45 | €29,068 | €44,811 | +€15,743 | +54.2% |
| Taxes | 450/3 | €19,051 | €31,979 | +€12,928 | +67.9% |
| Remuneration and social security | 454/9 | €10,017 | €12,832 | +€2,815 | +28.1% |
| Other amounts payable | 47/48 | €6,561 | - | -€6,561 | |
| Accrued charges and deferred income | 492/3 | - | €11,858 | +€11,858 | |
| Remuneration, social security and pensions | 62 | €153,297 | €163,213 | +€9,916 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,092 | €17,701 | +€4,609 | +35.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,405 | +€15,405 | |
| Other operating charges | 640/8 | €5,048 | €6,519 | +€1,470 | +29.1% |
| Gross operating margin | 9900 | €137,976 | €311,485 | +€173,509 | +126% |
| Operating profit (loss) | 9901 | -€33,461 | €108,648 | +€142,108 | |
| Financial income | 75/76B | €83 | €307 | +€224 | +269% |
| Recurring financial income | 75 | €83 | €307 | +€224 | +269% |
| Financial charges | 65/66B | €1,982 | €2,626 | +€645 | +32.5% |
| Recurring financial charges | 65 | €1,982 | €2,626 | +€645 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,359 | €106,328 | +€141,688 | |
| Income taxes | 67/77 | €314 | €26,219 | +€25,905 | +8,254% |
| Profit (loss) for the period | 9904 | -€35,673 | €80,109 | +€115,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,673 | €80,109 | +€115,783 |
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 16 October 2026 via checked.be.