SLX: 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
SLX
NACE 77.222, Rental and leasing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22,547
2024 · €31,739-€9,192
Equity
€63,444
2024 · €40,897+€22,547
Cash
€68,796
2024 · €137,829-€69,033
Balance sheet total
€356,954
2024 · €333,927+€23,027
Largest movements
Assets
- Tangible fixed assets +€91,271
up €91,271 (+75.9%), from €120,180 to €211,451
of which Plant, machinery and equipment: +€99,913
- Cash -€69,033
down €69,033 (-50.1%), from €137,829 to €68,796
mainly Investment in fixed assets (net) (-€126,647) and Debts after one year (-€6,328)
Equity and liabilities
- Profit (loss) carried forward +€22,547
up €22,547 (+2514.2%), from €897 to €23,444
- Other debts +€15,314
up €15,314 (+8.5%), from €181,041 to €196,356
- Debts after one year -€6,328
down €6,328 (-7.8%), from €81,045 to €74,717
of which Financial debts: -€6,328
- Trade debts -€6,040
down €6,040 (-68.2%), from €8,854 to €2,814
of which Suppliers: -€6,040
Income statement
- Gross operating margin -€16,182
down €16,182 (-19.9%), from €81,479 to €65,297
- Financial charges -€11,935
down €11,935 (-72.2%), from €16,539 to €4,605
- Depreciation +€4,509
up €4,509 (+14.6%), from €30,943 to €35,451
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
€31,739
Gross operating margin
-€16,182
Staff costs
-€293
Depreciation
-€4,509
Other operating charges
-€137
Financial income
-€7
Financial charges
+€11,935
Result 2025
€22,547
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
+€63,817
Investment
-€126,647
Financing
-€6,202
Cash 2024
€137,829
From operations (derived)
+€63,817
Net result for the year
+€22,547
Depreciation
+€35,451
Receivables within one year
-€1,139
Deferred charges and accrued income
+€275
Trade debts
-€6,040
Tax, wage and social debts
-€2,592
Other debts
+€15,314
Investment (derived)
-€126,647
Investment in fixed assets (net)
-€126,647
Financing
-€6,202
Debts after one year
-€6,328
Current portion of long-term debt
+€126
Cash 2025
€68,796
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €333,927 | €356,954 | +€23,027 | +6.9% |
| Formation expenses | 20 | €169 | €94 | -€75 | -44.4% |
| Fixed assets | 21/28 | €120,430 | €211,701 | +€91,271 | +75.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €120,180 | €211,451 | +€91,271 | +75.9% |
| Land and buildings | 22 | €4,131 | €2,295 | -€1,836 | -44.4% |
| Plant, machinery and equipment | 23 | €32,682 | €132,594 | +€99,913 | +305.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €83,368 | €76,562 | -€6,806 | -8.2% |
| Assets under construction and advance payments | 27 | €0 | €0 | = | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €213,328 | €145,159 | -€68,169 | -32.0% |
| Amounts receivable after more than one year | 29 | €0 | €0 | = | |
| Trade receivables | 290 | €0 | €0 | = | |
| Other amounts receivable | 291 | €0 | €0 | = | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | €0 | = | |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €75,224 | €76,363 | +€1,139 | +1.5% |
| Trade receivables | 40 | €75,224 | €76,363 | +€1,139 | +1.5% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €137,829 | €68,796 | -€69,033 | -50.1% |
| Deferred charges and accrued income | 490/1 | €275 | €0 | -€275 | -100.0% |
| Total equity and liabilities | 10/49 | €333,927 | €356,954 | +€23,027 | +6.9% |
| Equity | 10/15 | €40,897 | €63,444 | +€22,547 | +55.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | €0 | = | |
| Reserves | 13 | €0 | €0 | = | |
| Non-distributable reserves | 130/1 | €0 | €0 | = | |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Own shares acquired | 1312 | €0 | €0 | = | |
| Financial assistance | 1313 | €0 | €0 | = | |
| Other | 1319 | €0 | €0 | = | |
| Tax-exempt reserves | 132 | €0 | €0 | = | |
| Distributable reserves | 133 | €0 | €0 | = | |
| Profit (loss) carried forward | 14 | €897 | €23,444 | +€22,547 | +2514.2% |
| Investment grants | 15 | €0 | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Provisions for liabilities and charges | 160/5 | €0 | €0 | = | |
| Pensions and similar obligations | 160 | €0 | €0 | = | |
| Taxes | 161 | €0 | €0 | = | |
| Major repairs and maintenance | 162 | €0 | €0 | = | |
| Environmental obligations | 163 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €0 | €0 | = | |
| Deferred taxes | 168 | €0 | €0 | = | |
| Amounts payable | 17/49 | €293,030 | €293,510 | +€480 | +0.2% |
| Amounts payable after more than one year | 17 | €81,045 | €74,717 | -€6,328 | -7.8% |
| Financial debts | 170/4 | €81,045 | €74,717 | -€6,328 | -7.8% |
| Trade debts | 175 | €0 | €0 | = | |
| Advances received on contracts in progress | 176 | €0 | €0 | = | |
| Other amounts payable | 178/9 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €211,985 | €218,793 | +€6,808 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €6,202 | €6,328 | +€126 | +2.0% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Other loans | 439 | €0 | €0 | = | |
| Trade debts | 44 | €8,854 | €2,814 | -€6,040 | -68.2% |
| Suppliers | 440/4 | €8,854 | €2,814 | -€6,040 | -68.2% |
| Bills of exchange payable | 441 | €0 | €0 | = | |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €15,888 | €13,296 | -€2,592 | -16.3% |
| Taxes | 450/3 | €15,686 | €13,093 | -€2,592 | -16.5% |
| Remuneration and social security | 454/9 | €202 | €202 | = | 0.0% |
| Other amounts payable | 47/48 | €181,041 | €196,356 | +€15,314 | +8.5% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Non-recurring operating income | 76A | €11,934 | €1,500 | -€10,434 | -87.4% |
| Remuneration, social security and pensions | 62 | -€293 | €0 | +€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,943 | €35,451 | +€4,509 | +14.6% |
| Other operating charges | 640/8 | €2,557 | €2,694 | +€137 | +5.4% |
| Gross operating margin | 9900 | €81,479 | €65,297 | -€16,182 | -19.9% |
| Operating profit (loss) | 9901 | €48,271 | €27,152 | -€21,120 | -43.8% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.0% |
| Financial charges | 65/66B | €16,539 | €4,605 | -€11,935 | -72.2% |
| Recurring financial charges | 65 | €16,539 | €4,605 | -€11,935 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €31,739 | €22,547 | -€9,192 | -29.0% |
| Profit (loss) for the period | 9904 | €31,739 | €22,547 | -€9,192 | -29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,739 | €22,547 | -€9,192 | -29.0% |
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 2 October 2026 via checked.be.