ZILVERINVEST: 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.
ZILVERINVEST
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+73.3%), from €1.4m to €2.5m
of which Land and buildings: +€1.1m
- Receivables within one year -€191,856
down €191,856 (-81.0%), from €236,908 to €45,053
of which Trade receivables: -€209,500
- Revaluation surpluses +€1.0m
new in 2025: €1.0m
- Trade debts -€134,179
down €134,179 (-74.5%), from €180,172 to €45,993
- Debts after one year -€55,333
down €55,333 (-31.4%), from €175,999 to €120,665
- Gross operating margin -€45,401
down €45,401 (-37.6%), from €120,735 to €75,335
- Taxes -€25,119
down €25,119, from €13,293 to -€11,826
- Depreciation +€4,236
up €4,236 (+8.5%), from €50,041 to €54,277
- Financial charges -€1,922
down €1,922 (-21.5%), from €8,954 to €7,033
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 | €2,140,193 | €3,020,189 | +€879,996 | +41.1% |
| Fixed assets | 21/28 | €1,438,298 | €2,490,523 | +€1.1m | +73.2% |
| Tangible fixed assets | 22/27 | €1,435,743 | €2,487,968 | +€1.1m | +73.3% |
| Land and buildings | 22 | €1,425,321 | €2,480,119 | +€1.1m | +74.0% |
| Plant, machinery and equipment | 23 | €10,422 | €7,849 | -€2,573 | -24.7% |
| Financial fixed assets | 28 | €2,555 | €2,555 | = | 0.0% |
| Current assets | 29/58 | €701,895 | €529,666 | -€172,229 | -24.5% |
| Amounts receivable within one year | 40/41 | €236,908 | €45,053 | -€191,856 | -81.0% |
| Trade receivables | 40 | €220,000 | €10,500 | -€209,500 | -95.2% |
| Other amounts receivable | 41 | €16,908 | €34,553 | +€17,644 | +104% |
| Cash at bank and in hand | 54/58 | €461,092 | €481,834 | +€20,742 | +4.5% |
| Deferred charges and accrued income | 490/1 | €3,894 | €2,779 | -€1,115 | -28.6% |
| Total equity and liabilities | 10/49 | €2,140,193 | €3,020,189 | +€879,996 | +41.1% |
| Equity | 10/15 | €1,727,572 | €2,797,076 | +€1.1m | +61.9% |
| Contributions | 10/11 | €1,245,000 | €1,245,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,049,669 | +€1.0m | |
| Reserves | 13 | €482,572 | €502,407 | +€19,834 | +4.1% |
| Distributable reserves | 133 | €482,572 | €502,407 | +€19,834 | +4.1% |
| Amounts payable | 17/49 | €412,621 | €223,113 | -€189,508 | -45.9% |
| Amounts payable after more than one year | 17 | €175,999 | €120,665 | -€55,333 | -31.4% |
| Financial debts | 170/4 | €175,999 | €120,665 | -€55,333 | -31.4% |
| Amounts payable within one year | 42/48 | €236,622 | €102,443 | -€134,179 | -56.7% |
| Current portion of amounts payable after more than one year | 42 | €55,333 | €55,333 | = | 0.0% |
| Trade debts | 44 | €180,172 | €45,993 | -€134,179 | -74.5% |
| Suppliers | 440/4 | €180,172 | €45,993 | -€134,179 | -74.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,117 | €1,117 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,041 | €54,277 | +€4,236 | +8.5% |
| Other operating charges | 640/8 | €7,110 | €6,016 | -€1,093 | -15.4% |
| Gross operating margin | 9900 | €120,735 | €75,335 | -€45,401 | -37.6% |
| Operating profit (loss) | 9901 | €63,585 | €15,041 | -€48,544 | -76.3% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.9% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.9% |
| Financial charges | 65/66B | €8,954 | €7,033 | -€1,922 | -21.5% |
| Recurring financial charges | 65 | €8,954 | €7,033 | -€1,922 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €54,638 | €8,008 | -€46,629 | -85.3% |
| Income taxes | 67/77 | €13,293 | -€11,826 | -€25,119 | |
| Profit (loss) for the period | 9904 | €41,345 | €19,834 | -€21,511 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,345 | €19,834 | -€21,511 | -52.0% |
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 27 October 2026 via checked.be.