DANIEL SAUVAGE: 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.
DANIEL SAUVAGE
Largest movements
- Cash +€152,031
up €152,031 (+3,233%), from €4,703 to €156,734
mainly Investment in fixed assets (net) (+€101,474) and Net result for the year (+€50,343)
- Tangible fixed assets -€118,105
down €118,105 (-27.6%), from €428,340 to €310,235
of which Land and buildings: -€117,233
- Receivables within one year -€11,485
down €11,485 (-23.1%), from €49,807 to €38,322
of which Other amounts receivable: -€11,467
- Reserves +€50,344
up €50,344 (+35.3%), from €142,620 to €192,964
- Debts after one year -€31,726
down €31,726 (-15.6%), from €203,037 to €171,311
- Trade debts +€30,599
up €30,599 (+97.5%), from €31,382 to €61,981
- Tax, wage and social debts -€12,677
down €12,677 (-30.9%), from €41,011 to €28,334
of which Taxes: -€10,016
- Other debts -€5,235
down €5,235 (-29.5%), from €17,749 to €12,514
- Gross operating margin -€144,350
down €144,350 (-57.3%), from €252,058 to €107,708
- Staff costs -€82,246
down €82,246 (-91.6%), from €89,837 to €7,591
- Depreciation -€13,032
down €13,032 (-43.9%), from €29,663 to €16,631
- Taxes -€12,343
down €12,343 (-32.2%), from €38,331 to €25,988
- Financial charges -€8,183
down €8,183 (-60.2%), from €13,597 to €5,414
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 | €487,741 | €506,518 | +€18,777 | +3.8% |
| Fixed assets | 21/28 | €428,505 | €310,400 | -€118,105 | -27.6% |
| Tangible fixed assets | 22/27 | €428,340 | €310,235 | -€118,105 | -27.6% |
| Land and buildings | 22 | €421,531 | €304,298 | -€117,233 | -27.8% |
| Plant, machinery and equipment | 23 | €849 | - | -€849 | |
| Furniture and vehicles | 24 | €5,960 | €5,937 | -€23 | -0.4% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €59,236 | €196,118 | +€136,882 | +231% |
| Amounts receivable within one year | 40/41 | €49,807 | €38,322 | -€11,485 | -23.1% |
| Trade receivables | 40 | €38,340 | €38,322 | -€18 | 0.0% |
| Other amounts receivable | 41 | €11,467 | - | -€11,467 | |
| Cash at bank and in hand | 54/58 | €4,703 | €156,734 | +€152,031 | +3,233% |
| Deferred charges and accrued income | 490/1 | €4,726 | €1,062 | -€3,664 | -77.5% |
| Total equity and liabilities | 10/49 | €487,741 | €506,518 | +€18,777 | +3.8% |
| Equity | 10/15 | €152,007 | €199,164 | +€47,157 | +31.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €142,620 | €192,964 | +€50,344 | +35.3% |
| Distributable reserves | 133 | €142,620 | €192,964 | +€50,344 | +35.3% |
| Investment grants | 15 | €3,187 | - | -€3,187 | |
| Amounts payable | 17/49 | €335,734 | €307,354 | -€28,380 | -8.5% |
| Amounts payable after more than one year | 17 | €203,037 | €171,311 | -€31,726 | -15.6% |
| Financial debts | 170/4 | €203,037 | €171,311 | -€31,726 | -15.6% |
| Amounts payable within one year | 42/48 | €132,697 | €135,860 | +€3,163 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €35,999 | €31,725 | -€4,274 | -11.9% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €31,382 | €61,981 | +€30,599 | +97.5% |
| Suppliers | 440/4 | €31,382 | €61,981 | +€30,599 | +97.5% |
| Advances received on contracts in progress | 46 | €1,556 | €1,306 | -€250 | -16.1% |
| Taxes, remuneration and social security | 45 | €41,011 | €28,334 | -€12,677 | -30.9% |
| Taxes | 450/3 | €38,350 | €28,334 | -€10,016 | -26.1% |
| Remuneration and social security | 454/9 | €2,661 | - | -€2,661 | |
| Other amounts payable | 47/48 | €17,749 | €12,514 | -€5,235 | -29.5% |
| Accrued charges and deferred income | 492/3 | - | €183 | +€183 | |
| Remuneration, social security and pensions | 62 | €89,837 | €7,591 | -€82,246 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,663 | €16,631 | -€13,032 | -43.9% |
| Other operating charges | 640/8 | €7,834 | €4,943 | -€2,891 | -36.9% |
| Gross operating margin | 9900 | €252,058 | €107,708 | -€144,350 | -57.3% |
| Operating profit (loss) | 9901 | €124,724 | €78,543 | -€46,181 | -37.0% |
| Financial income | 75/76B | €3,188 | €3,202 | +€14 | +0.4% |
| Recurring financial income | 75 | €3,188 | €3,202 | +€14 | +0.4% |
| Financial charges | 65/66B | €13,597 | €5,414 | -€8,183 | -60.2% |
| Recurring financial charges | 65 | €13,597 | €5,414 | -€8,183 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €114,315 | €76,331 | -€37,984 | -33.2% |
| Income taxes | 67/77 | €38,331 | €25,988 | -€12,343 | -32.2% |
| Profit (loss) for the period | 9904 | €75,984 | €50,343 | -€25,641 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,984 | €50,343 | -€25,641 | -33.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.