SapSavvy
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 25-02-2026 PDF all 7 filings
Turnover
≈ €160,000
Estimated: probably between €150,000 and €210,000
Total assets
€202,799▲ 17.8%
2024 · €172,167
Net result
€63,755▼ 12.0%
2024 · €72,455
Working capital
-€34,745
2024 · €47,425
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€81,661
▼ 9.5%
2025
20192025
Net result
€63,755
▼ 12.0%
2025
highest quarter of the sector
20192025
Equity
€18,550
▼ 79.6%
2025
lowest quarter of the sector
20192025
Total assets
€202,799
▲ 17.8%
2025
middle half of the sector
20192025
Debt
€184,249
▲ 127%
2025
20192025
Working capital
-€34,745
2025
lowest quarter of the sector
20192025
Solvency
9.1%
▼ 43.7pp
2025
lowest quarter of the sector
20192025
Current ratio
0.81
▼ 0.77
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
31.4%
▼ 10.6pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€94,842-€90,452▼ 4.6%€98,067▲ 8.4%€94,236▼ 3.9%€119,554▲ 26.9%€90,184▼ 24.6%€81,661▼ 9.5%
Net result€67,202-€71,989above the sector's middle half▲ 7.1%€79,100above the sector's middle half▲ 9.9%€77,784above the sector's middle half▼ 1.7%€96,844above the sector's middle half▲ 24.5%€72,455above the sector's middle half▼ 25.2%€63,755above the sector's middle half▼ 12.0%
Equity€79,602-€151,592within the sector's middle half▲ 90.4%€236,841above the sector's middle half▲ 56.2%€214,625above the sector's middle half▼ 9.4%€85,752within the sector's middle half▼ 60.0%€91,005within the sector's middle half▲ 6.1%€18,550below the sector's middle half▼ 79.6%
Total assets€114,874-€210,843within the sector's middle half▲ 83.5%€303,306above the sector's middle half▲ 43.9%€249,787within the sector's middle half▼ 17.6%€254,497within the sector's middle half▲ 1.9%€172,167within the sector's middle half▼ 32.4%€202,799within the sector's middle half▲ 17.8%
Debt€35,271-€59,251▲ 68.0%€66,464▲ 12.2%€35,162▼ 47.1%€168,744▲ 380%€81,162▼ 51.9%€184,249▲ 127%
Working capital€67,728-€138,829above the sector's middle half▲ 105%€228,445above the sector's middle half▲ 64.6%€207,365above the sector's middle half▼ 9.2%€36,269within the sector's middle half▼ 82.5%€47,425within the sector's middle half▲ 30.8%-€34,745below the sector's middle half
Solvency69.3%-71.9%within the sector's middle half▲ 2.6pp78.1%within the sector's middle half▲ 6.2pp85.9%above the sector's middle half▲ 7.8pp33.7%within the sector's middle half▼ 52.2pp52.9%within the sector's middle half▲ 19.2pp9.1%below the sector's middle half▼ 43.7pp
Current ratio3.31-3.34within the sector's middle half▲ 0.034.45within the sector's middle half▲ 1.106.93above the sector's middle half▲ 2.481.22below the sector's middle half▼ 5.711.59within the sector's middle half▲ 0.370.81below the sector's middle half▼ 0.77
Return on assets (ROA)58.5%-34.1%above the sector's middle half▼ 24.4pp26.1%within the sector's middle half▼ 8.1pp31.1%above the sector's middle half▲ 5.1pp38.1%above the sector's middle half▲ 6.9pp42.1%above the sector's middle half▲ 4.0pp31.4%within the sector's middle half▼ 10.6pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 9% lower than in 2024 and the lowest since 2019. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €202,799
Fixed assets
€53,295 ▲ 21.8%
Current assets
€149,504 ▲ 16.4%
Equity and liabilities €202,799
Equity
€18,550 ▼ 79.6%
Debt
€184,249 ▲ 127%
Debt's share of the balance-sheet total rises from 47.1% to 90.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€99,494▼
2024 · €103,441
Cash flow
€81,588▼
2024 · €85,711
Debt to equity
9.93▲
2024 · 0.89
ROE
343.7%▲
2024 · 79.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€184,249▲
2024 · €80,987
Income taxes
€17,781▼
2024 · €18,679
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,026 | €4,963 | €49,451 | €7,353 | €63,921 |
| Depreciation and write-downs of the year | €5,249 | €4,906 | €6,083 | €13,256 | €17,833 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,376 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,167 | €5,372 | €5,249 | €4,906 | €6,083 | €13,256 | €17,833 | ▲ 34.5% |
| Other operating charges640/8 | - | - | €1,022 | €1,044 | €1,298 | €445 | €1,236 | ▲ 178% |
| Non-recurring operating charges66A | - | - | - | €108 | €0 | - | €6,137 | - |
| Gross operating margin9900 | €102,357 | €96,493 | €104,339 | €100,293 | €126,935 | €103,885 | €106,867 | ▲ 2.9% |
| Operating profit (loss)9901 | €94,842 | €90,452 | €98,067 | €94,236 | €119,554 | €90,184 | €81,661 | ▼ 9.5% |
| Financial income75/76B | - | - | €2,192 | €4,399 | €3,330 | €1,157 | €0 | ▼ 100% |
| Recurring financial income75 | €1 | €791 | €2,192 | €4,399 | €3,330 | €1,157 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €93 | €132 | €202 | €207 | €125 | ▼ 39.9% |
| Recurring financial charges65 | €979 | €93 | €93 | €132 | €202 | €128 | €125 | ▼ 2.8% |
| Non-recurring financial charges66B | - | - | - | - | - | €79 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €93,865 | €91,151 | €100,166 | €98,502 | €122,682 | €91,133 | €81,536 | ▼ 10.5% |
| Income taxes67/77 | €26,663 | €19,162 | €21,066 | €20,718 | €25,839 | €18,679 | €17,781 | ▼ 4.8% |
| Profit (loss) for the period9904 | €67,202 | €71,989 | €79,100 | €77,784 | €96,844 | €72,455 | €63,755 | ▼ 12.0% |
| Profit (loss) for the period to be appropriated9905 | €67,202 | €71,989 | €79,100 | €77,784 | €96,844 | €72,455 | €63,755 | ▼ 12.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €114,874 | €210,843 | €303,306 | €249,787 | €254,497 | €172,167 | €202,799 | ▲ 17.8% |
| Fixed assets21/28 | €17,820 | €12,795 | €8,571 | €7,436 | €49,659 | €43,755 | €53,295 | ▲ 21.8% |
| Tangible fixed assets22/27 | €17,820 | €12,795 | €8,571 | €7,436 | €49,659 | €43,755 | €53,295 | ▲ 21.8% |
| Furniture and vehicles24 | - | - | €8,571 | €7,436 | €49,659 | €43,755 | €53,295 | ▲ 21.8% |
| Current assets29/58 | €97,054 | €198,048 | €294,734 | €242,351 | €204,838 | €128,412 | €149,504 | ▲ 16.4% |
| Amounts receivable after more than one year29 | - | - | €170,000 | €145,000 | €100,000 | €0 | - | - |
| Other amounts receivable291 | - | - | €170,000 | €145,000 | €100,000 | €0 | - | - |
| Amounts receivable within one year40/41 | €13,412 | €14,399 | €50,838 | €18,186 | €24,281 | €49,164 | €13,826 | ▼ 71.9% |
| Trade receivables40 | - | - | €50,820 | €14,907 | €20,985 | €48,809 | €13,818 | ▼ 71.7% |
| Other amounts receivable41 | - | - | €18 | €3,279 | €3,296 | €356 | €8 | ▼ 97.9% |
| Cash at bank and in hand54/58 | €83,182 | €137,024 | €70,074 | €71,152 | €69,887 | €72,636 | €133,185 | ▲ 83.4% |
| Deferred charges and accrued income490/1 | - | - | €3,823 | €8,014 | €10,670 | €6,611 | €2,493 | ▼ 62.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €114,874 | €210,843 | €303,306 | €249,787 | €254,497 | €172,167 | €202,799 | ▲ 17.8% |
| Equity10/15 | €79,602 | €151,592 | €236,841 | €214,625 | €85,752 | €91,005 | €18,550 | ▼ 79.6% |
| Contributions10/11 | €12,400 | - | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €67,202 | €67,202 | €67,202 | €67,202 | €67,202 | €0 | - | - |
| Non-distributable reserves130/1 | - | - | €1,855 | €1,855 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,855 | €1,855 | €0 | - | - | - |
| Distributable reserves133 | - | - | €65,347 | €65,347 | €67,202 | €0 | - | - |
| Profit (loss) carried forward14 | - | €71,989 | €151,089 | €128,873 | €0 | €72,455 | €0 | ▼ 100% |
| Amounts payable17/49 | €35,271 | €59,251 | €66,464 | €35,162 | €168,744 | €81,162 | €184,249 | ▲ 127% |
| Amounts payable after more than one year17 | €5,000 | €0 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €29,326 | €59,220 | €66,289 | €34,986 | €168,569 | €80,987 | €184,249 | ▲ 128% |
| Trade debts44 | €1,114 | €1,166 | €14,278 | €1,445 | €1,295 | €1,120 | €1,303 | ▲ 16.4% |
| Suppliers440/4 | - | - | €14,278 | €1,445 | €1,295 | €1,120 | €1,303 | ▲ 16.4% |
| Taxes, remuneration and social security45 | - | - | €51,670 | €32,650 | €11,572 | €9,656 | €12,543 | ▲ 29.9% |
| Taxes450/3 | - | - | €51,670 | €32,650 | €11,572 | €9,656 | €12,543 | ▲ 29.9% |
| Other amounts payable47/48 | - | - | €341 | €891 | €155,701 | €70,210 | €170,403 | ▲ 143% |
| Accrued charges and deferred income492/3 | - | - | €176 | €176 | €176 | €176 | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €67,202 | €71,989 | €79,100 | €77,784 | €96,844 | €72,455 | €63,755 | ▼ 12.0% |
| + Depreciation and write-downs630 | €6,167 | €5,372 | €5,249 | €4,906 | €6,083 | €13,256 | €17,833 | ▲ 34.5% |
| Operating cash flow (approximation) | €73,369 | €77,361 | €84,349 | €82,690 | €102,927 | €85,711 | €81,588 | ▼ 4.8% |
| Investment in fixed assets (approximation) | - | -€347 | -€1,026 | -€3,770 | -€48,307 | -€7,353 | -€27,373 | ▼ 272% |
| Change in cash | - | €53,842 | -€66,950 | €1,078 | -€1,265 | €2,750 | €60,549 | ▲ 22× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as SapSavvy has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of SapSavvy itself is lower: 0.1% within 12 months. It rests on far more data about SapSavvy than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,153 companies, not a prediction for SapSavvy. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-02-2026 | 2026-00043388 | |
| 31-12-2024 | micro format | 28-06-2025 | 2025-00193342 | |
| 31-12-2023 | micro format | 28-07-2024 | 2024-00293233 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00292586 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20117911 | |
| 31-12-2020 | micro format | 19-06-2021 | 2021-22300455 | |
| 31-12-2019 | micro format | 25-06-2020 | 2020-21000516 |