SSL: 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.
What changed
SSL
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,455
2024 · €59,911-€18,456
Equity
€467,743
2024 · €426,288+€41,455
Cash
€203,893
2024 · €190,094+€13,799
Balance sheet total
€661,555
2024 · €648,479+€13,075
Largest movements
Assets
- Cash +€13,799
up €13,799 (+7.3%), from €190,094 to €203,893
mainly Depreciation (+€88,991) and Net result for the year (+€41,455)
Equity and liabilities
- Profit (loss) carried forward +€41,455
up €41,455 (+10.2%), from €405,828 to €447,283
- Debts after one year -€23,521
down €23,521 (-31.4%), from €74,906 to €51,385
- Current portion of long-term debt +€9,363
up €9,363 (+10.6%), from €88,233 to €97,596
- Trade debts -€9,266
down €9,266 (-33.2%), from €27,919 to €18,653
Income statement
- Gross operating margin -€47,825
down €47,825 (-7.4%), from €642,260 to €594,435
- Staff costs -€25,670
down €25,670 (-7.0%), from €365,308 to €339,637
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
€59,911
Gross operating margin
-€47,825
Staff costs
+€25,670
Depreciation
-€2,749
Other operating charges
+€500
Financial income
+€61
Financial charges
+€500
Taxes
+€5,386
Result 2025
€41,455
raises the resultlowers the result
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.
From operations
+€117,156
Investment
-€89,199
Financing
-€14,158
Cash 2024
€190,094
From operations (derived)
+€117,156
Net result for the year
+€41,455
Depreciation
+€88,991
Receivables within one year
+€1,489
Deferred charges and accrued income
-€557
Trade debts
-€9,266
Tax, wage and social debts
-€5,204
Smaller working-capital items
+€248
Investment (derived)
-€89,199
Investment in fixed assets (net)
-€89,199
Financing
-€14,158
Debts after one year
-€23,521
Current portion of long-term debt
+€9,363
Cash 2025
€203,893
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €648,479 | €661,555 | +€13,075 | +2.0% |
| Fixed assets | 21/28 | €352,038 | €352,246 | +€208 | +0.1% |
| Tangible fixed assets | 22/27 | €315,188 | €315,396 | +€208 | +0.1% |
| Furniture and vehicles | 24 | €8,157 | €4,125 | -€4,032 | -49.4% |
| Leasing and similar rights | 25 | €279,151 | €287,698 | +€8,546 | +3.1% |
| Other tangible fixed assets | 26 | €27,880 | €23,574 | -€4,306 | -15.4% |
| Financial fixed assets | 28 | €36,850 | €36,850 | = | 0.0% |
| Current assets | 29/58 | €296,441 | €309,309 | +€12,867 | +4.3% |
| Amounts receivable within one year | 40/41 | €104,471 | €102,982 | -€1,489 | -1.4% |
| Trade receivables | 40 | €101,314 | €96,055 | -€5,258 | -5.2% |
| Other amounts receivable | 41 | €3,157 | €6,927 | +€3,769 | +119% |
| Cash at bank and in hand | 54/58 | €190,094 | €203,893 | +€13,799 | +7.3% |
| Deferred charges and accrued income | 490/1 | €1,876 | €2,434 | +€557 | +29.7% |
| Total equity and liabilities | 10/49 | €648,479 | €661,555 | +€13,075 | +2.0% |
| Equity | 10/15 | €426,288 | €467,743 | +€41,455 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €405,828 | €447,283 | +€41,455 | +10.2% |
| Amounts payable | 17/49 | €222,191 | €193,812 | -€28,380 | -12.8% |
| Amounts payable after more than one year | 17 | €74,906 | €51,385 | -€23,521 | -31.4% |
| Financial debts | 170/4 | €74,906 | €51,385 | -€23,521 | -31.4% |
| Amounts payable within one year | 42/48 | €143,519 | €138,519 | -€5,000 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €88,233 | €97,596 | +€9,363 | +10.6% |
| Trade debts | 44 | €27,919 | €18,653 | -€9,266 | -33.2% |
| Suppliers | 440/4 | €27,919 | €18,653 | -€9,266 | -33.2% |
| Taxes, remuneration and social security | 45 | €27,020 | €21,816 | -€5,204 | -19.3% |
| Taxes | 450/3 | €6,264 | €4,316 | -€1,948 | -31.1% |
| Remuneration and social security | 454/9 | €20,756 | €17,500 | -€3,256 | -15.7% |
| Other amounts payable | 47/48 | €347 | €454 | +€107 | +30.7% |
| Accrued charges and deferred income | 492/3 | €3,766 | €3,907 | +€141 | +3.7% |
| Remuneration, social security and pensions | 62 | €365,308 | €339,637 | -€25,670 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,243 | €88,991 | +€2,749 | +3.2% |
| Other operating charges | 640/8 | €113,895 | €113,395 | -€500 | -0.4% |
| Gross operating margin | 9900 | €642,260 | €594,435 | -€47,825 | -7.4% |
| Operating profit (loss) | 9901 | €76,815 | €52,412 | -€24,403 | -31.8% |
| Financial income | 75/76B | €71 | €132 | +€61 | +86.0% |
| Recurring financial income | 75 | €71 | €132 | +€61 | +86.0% |
| Financial charges | 65/66B | €5,358 | €4,858 | -€500 | -9.3% |
| Recurring financial charges | 65 | €5,358 | €4,858 | -€500 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €71,528 | €47,686 | -€23,842 | -33.3% |
| Income taxes | 67/77 | €11,617 | €6,231 | -€5,386 | -46.4% |
| Profit (loss) for the period | 9904 | €59,911 | €41,455 | -€18,456 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,911 | €41,455 | -€18,456 | -30.8% |
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 13 October 2026 via checked.be.