ARNAUD SAUGRAIN: 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.
ARNAUD SAUGRAIN
Largest movements
- Receivables within one year -€17,684
down €17,684 (-18.9%), from €93,636 to €75,952
of which Trade receivables: -€17,081
- Cash -€6,178
down €6,178 (-22.9%), from €26,934 to €20,756
mainly Investment in fixed assets (net) (-€38,396) and Debts after one year (-€18,997)
- Stocks and contracts +€5,915
up €5,915 (+119%), from €4,987 to €10,902
- Tangible fixed assets -€4,790
down €4,790 (-4.0%), from €120,927 to €116,137
of which Furniture and vehicles: -€7,618
- Debts after one year -€18,997
down €18,997 (-56.3%), from €33,768 to €14,771
- Tax, wage and social debts -€13,032
down €13,032 (-29.4%), from €44,348 to €31,315
of which Remuneration and social security: -€18,437
- Trade debts +€8,045
up €8,045 (+27.9%), from €28,876 to €36,921
- Profit (loss) carried forward +€4,046
up €4,046 (+2.9%), from €137,233 to €141,279
- Staff costs +€28,789
up €28,789 (+16.9%), from €170,401 to €199,190
- Gross operating margin +€17,226
up €17,226 (+7.8%), from €222,215 to €239,441
- Financial income +€11,842
up €11,842 (+12,735%), from €93 to €11,935
of which Financial income: +€10,118
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €321,989 | €301,834 | -€20,155 | -6.3% |
| Fixed assets | 21/28 | €192,107 | €187,317 | -€4,790 | -2.5% |
| Tangible fixed assets | 22/27 | €120,927 | €116,137 | -€4,790 | -4.0% |
| Plant, machinery and equipment | 23 | €48,901 | €43,462 | -€5,439 | -11.1% |
| Furniture and vehicles | 24 | €22,978 | €15,360 | -€7,618 | -33.2% |
| Other tangible fixed assets | 26 | €49,048 | €57,315 | +€8,267 | +16.9% |
| Financial fixed assets | 28 | €71,180 | €71,180 | = | 0.0% |
| Current assets | 29/58 | €129,882 | €114,517 | -€15,365 | -11.8% |
| Stocks and contracts in progress | 3 | €4,987 | €10,902 | +€5,915 | +119% |
| Stocks | 30/36 | €4,987 | €10,902 | +€5,915 | +119% |
| Amounts receivable within one year | 40/41 | €93,636 | €75,952 | -€17,684 | -18.9% |
| Trade receivables | 40 | €84,871 | €67,790 | -€17,081 | -20.1% |
| Other amounts receivable | 41 | €8,765 | €8,162 | -€603 | -6.9% |
| Cash at bank and in hand | 54/58 | €26,934 | €20,756 | -€6,178 | -22.9% |
| Deferred charges and accrued income | 490/1 | €4,325 | €6,907 | +€2,582 | +59.7% |
| Total equity and liabilities | 10/49 | €321,989 | €301,834 | -€20,155 | -6.3% |
| Equity | 10/15 | €181,836 | €185,883 | +€4,046 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,004 | €26,004 | = | 0.0% |
| Distributable reserves | 133 | €26,004 | €26,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,233 | €141,279 | +€4,046 | +2.9% |
| Amounts payable | 17/49 | €140,152 | €115,951 | -€24,201 | -17.3% |
| Amounts payable after more than one year | 17 | €33,768 | €14,771 | -€18,997 | -56.3% |
| Financial debts | 170/4 | €33,768 | €14,771 | -€18,997 | -56.3% |
| Amounts payable within one year | 42/48 | €106,130 | €100,312 | -€5,818 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €20,815 | €18,997 | -€1,819 | -8.7% |
| Trade debts | 44 | €28,876 | €36,921 | +€8,045 | +27.9% |
| Suppliers | 440/4 | €28,876 | €36,921 | +€8,045 | +27.9% |
| Taxes, remuneration and social security | 45 | €44,348 | €31,315 | -€13,032 | -29.4% |
| Taxes | 450/3 | €6,625 | €12,030 | +€5,405 | +81.6% |
| Remuneration and social security | 454/9 | €37,723 | €19,286 | -€18,437 | -48.9% |
| Other amounts payable | 47/48 | €12,090 | €13,078 | +€988 | +8.2% |
| Accrued charges and deferred income | 492/3 | €255 | €868 | +€613 | +241% |
| Remuneration, social security and pensions | 62 | €170,401 | €199,190 | +€28,789 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,090 | €43,186 | +€2,096 | +5.1% |
| Other operating charges | 640/8 | €534 | €1,348 | +€813 | +152% |
| Gross operating margin | 9900 | €222,215 | €239,441 | +€17,226 | +7.8% |
| Operating profit (loss) | 9901 | €10,189 | -€4,282 | -€14,472 | |
| Financial income | 75/76B | €93 | €11,935 | +€11,842 | +12,735% |
| Recurring financial income | 75 | €93 | €10,211 | +€10,118 | +10,880% |
| Non-recurring financial income | 76B | - | €1,725 | +€1,725 | |
| Financial charges | 65/66B | €2,785 | €3,452 | +€666 | +23.9% |
| Recurring financial charges | 65 | €2,785 | €3,452 | +€666 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €7,497 | €4,201 | -€3,296 | -44.0% |
| Income taxes | 67/77 | €1,684 | €155 | -€1,529 | -90.8% |
| Profit (loss) for the period | 9904 | €5,813 | €4,046 | -€1,767 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,813 | €4,046 | -€1,767 | -30.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.