SELOZ: 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.
SELOZ
Largest movements
- Cash -€44,878
down €44,878 (-64.6%), from €69,498 to €24,621
mainly Trade debts (-€48,027) and Stocks and contracts (-€25,749)
- Stocks and contracts +€25,749
up €25,749 (+72.4%), from €35,570 to €61,319
of which Contracts in progress: +€25,749
- Receivables within one year -€4,363
down €4,363 (-35.5%), from €12,290 to €7,926
of which Other amounts receivable: -€3,943
- Tangible fixed assets -€2,453
down €2,453 (-43.1%), from €5,688 to €3,235
of which Furniture and vehicles: -€2,090
- Deferred charges and accrued income +€1,492
new in 2025: €1,492
- Trade debts -€48,027
down €48,027 (-73.0%), from €65,757 to €17,730
- Other debts +€9,556
up €9,556 (+80.3%), from €11,905 to €21,461
- Profit (loss) carried forward +€7,939
up €7,939 (+24.8%), from €31,981 to €39,920
- Tax, wage and social debts +€6,508
up €6,508 (+91.4%), from €7,120 to €13,628
- Gross operating margin -€32,428
down €32,428 (-68.1%), from €47,602 to €15,174
- Financial charges -€7,779
down €7,779 (-97.1%), from €8,008 to €229
- Taxes -€3,323
down €3,323 (-46.7%), from €7,121 to €3,798
- Other operating charges -€2,089
down €2,089 (-87.1%), from €2,399 to €309
- Write-downs -€1,250
down €1,250 (-100%), from €1,250 to €0
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 | €124,401 | €99,503 | -€24,898 | -20.0% |
| Formation expenses | 20 | €1,355 | €910 | -€445 | -32.8% |
| Fixed assets | 21/28 | €5,688 | €3,235 | -€2,453 | -43.1% |
| Tangible fixed assets | 22/27 | €5,688 | €3,235 | -€2,453 | -43.1% |
| Plant, machinery and equipment | 23 | €363 | €0 | -€363 | -100% |
| Furniture and vehicles | 24 | €5,325 | €3,235 | -€2,090 | -39.2% |
| Current assets | 29/58 | €117,358 | €95,358 | -€22,000 | -18.7% |
| Stocks and contracts in progress | 3 | €35,570 | €61,319 | +€25,749 | +72.4% |
| Stocks | 30/36 | €35,570 | €35,570 | = | 0.0% |
| Contracts in progress | 37 | - | €25,749 | +€25,749 | |
| Amounts receivable within one year | 40/41 | €12,290 | €7,926 | -€4,363 | -35.5% |
| Trade receivables | 40 | €8,347 | €7,926 | -€421 | -5.0% |
| Other amounts receivable | 41 | €3,943 | €0 | -€3,943 | -100% |
| Cash at bank and in hand | 54/58 | €69,498 | €24,621 | -€44,878 | -64.6% |
| Deferred charges and accrued income | 490/1 | - | €1,492 | +€1,492 | |
| Total equity and liabilities | 10/49 | €124,401 | €99,503 | -€24,898 | -20.0% |
| Equity | 10/15 | €37,981 | €45,920 | +€7,939 | +20.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,981 | €39,920 | +€7,939 | +24.8% |
| Amounts payable | 17/49 | €86,420 | €53,583 | -€32,837 | -38.0% |
| Amounts payable after more than one year | 17 | €764 | €0 | -€764 | -100% |
| Financial debts | 170/4 | €764 | €0 | -€764 | -100% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €85,656 | €53,583 | -€32,073 | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €874 | €764 | -€110 | -12.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €65,757 | €17,730 | -€48,027 | -73.0% |
| Suppliers | 440/4 | €65,757 | €17,730 | -€48,027 | -73.0% |
| Taxes, remuneration and social security | 45 | €7,120 | €13,628 | +€6,508 | +91.4% |
| Taxes | 450/3 | €7,120 | €13,628 | +€6,508 | +91.4% |
| Other amounts payable | 47/48 | €11,905 | €21,461 | +€9,556 | +80.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,095 | €2,898 | -€197 | -6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,250 | €0 | -€1,250 | -100% |
| Other operating charges | 640/8 | €2,399 | €309 | -€2,089 | -87.1% |
| Gross operating margin | 9900 | €47,602 | €15,174 | -€32,428 | -68.1% |
| Operating profit (loss) | 9901 | €40,859 | €11,967 | -€28,892 | -70.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,008 | €229 | -€7,779 | -97.1% |
| Recurring financial charges | 65 | €8,008 | €229 | -€7,779 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €32,851 | €11,738 | -€21,113 | -64.3% |
| Income taxes | 67/77 | €7,121 | €3,798 | -€3,323 | -46.7% |
| Profit (loss) for the period | 9904 | €25,730 | €7,939 | -€17,791 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,730 | €7,939 | -€17,791 | -69.1% |
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 19 October 2026 via checked.be.