DE SAEDELEIR: 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.
DE SAEDELEIR
Largest movements
- Receivables within one year -€281,842
down €281,842 (-50.7%), from €556,371 to €274,529
of which Trade receivables: -€285,494
- Tangible fixed assets +€172,385
up €172,385 (+13.4%), from €1.3m to €1.5m
of which Plant, machinery and equipment: +€110,872
- Intangible fixed assets +€27,581
up €27,581 (+6,453%), from €427 to €28,008
- Current portion of long-term debt +€172,610
new in 2025: €172,610
- Debts after one year -€172,609
down €172,609 (-29.7%), from €581,835 to €409,226
- Short-term financial debts -€171,790
no longer reported in 2025 (was €171,790)
- Reserves +€99,266
up €99,266 (+15.8%), from €627,975 to €727,241
of which Distributable reserves: +€99,266
- Trade debts -€41,760
down €41,760 (-20.2%), from €207,183 to €165,422
- Depreciation +€40,484
up €40,484 (+25.4%), from €159,523 to €200,007
- Gross operating margin +€34,201
up €34,201 (+4.0%), from €852,103 to €886,304
- Staff costs +€14,936
up €14,936 (+3.0%), from €499,167 to €514,102
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 | €2,039,057 | €1,978,926 | -€60,130 | -2.9% |
| Fixed assets | 21/28 | €1,290,515 | €1,500,482 | +€209,966 | +16.3% |
| Intangible fixed assets | 21 | €427 | €28,008 | +€27,581 | +6,453% |
| Tangible fixed assets | 22/27 | €1,290,088 | €1,462,473 | +€172,385 | +13.4% |
| Land and buildings | 22 | €36,209 | €34,084 | -€2,125 | -5.9% |
| Plant, machinery and equipment | 23 | €842,579 | €953,451 | +€110,872 | +13.2% |
| Furniture and vehicles | 24 | €411,300 | €474,939 | +€63,639 | +15.5% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €748,541 | €478,445 | -€270,097 | -36.1% |
| Amounts receivable within one year | 40/41 | €556,371 | €274,529 | -€281,842 | -50.7% |
| Trade receivables | 40 | €546,371 | €260,877 | -€285,494 | -52.3% |
| Other amounts receivable | 41 | €10,000 | €13,651 | +€3,651 | +36.5% |
| Cash at bank and in hand | 54/58 | €192,171 | €185,780 | -€6,391 | -3.3% |
| Deferred charges and accrued income | 490/1 | - | €18,136 | +€18,136 | |
| Total equity and liabilities | 10/49 | €2,039,057 | €1,978,926 | -€60,130 | -2.9% |
| Equity | 10/15 | €927,975 | €1,027,241 | +€99,266 | +10.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €627,975 | €727,241 | +€99,266 | +15.8% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €597,975 | €697,241 | +€99,266 | +16.6% |
| Amounts payable | 17/49 | €1,111,082 | €951,685 | -€159,396 | -14.3% |
| Amounts payable after more than one year | 17 | €581,835 | €409,226 | -€172,609 | -29.7% |
| Financial debts | 170/4 | €581,835 | €409,226 | -€172,609 | -29.7% |
| Amounts payable within one year | 42/48 | €529,246 | €542,459 | +€13,213 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | - | €172,610 | +€172,610 | |
| Financial debts | 43 | €171,790 | - | -€171,790 | |
| Credit institutions | 430/8 | €171,790 | - | -€171,790 | |
| Trade debts | 44 | €207,183 | €165,422 | -€41,760 | -20.2% |
| Suppliers | 440/4 | €207,183 | €165,422 | -€41,760 | -20.2% |
| Taxes, remuneration and social security | 45 | €137,949 | €177,885 | +€39,936 | +28.9% |
| Taxes | 450/3 | €88,618 | €124,118 | +€35,500 | +40.1% |
| Remuneration and social security | 454/9 | €49,331 | €53,768 | +€4,437 | +9.0% |
| Other amounts payable | 47/48 | €12,325 | €26,541 | +€14,217 | +115% |
| Remuneration, social security and pensions | 62 | €499,167 | €514,102 | +€14,936 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,523 | €200,007 | +€40,484 | +25.4% |
| Other operating charges | 640/8 | €26,607 | €20,433 | -€6,175 | -23.2% |
| Gross operating margin | 9900 | €852,103 | €886,304 | +€34,201 | +4.0% |
| Operating profit (loss) | 9901 | €166,806 | €151,762 | -€15,044 | -9.0% |
| Financial income | 75/76B | €744 | €43 | -€701 | -94.2% |
| Recurring financial income | 75 | €744 | €43 | -€701 | -94.2% |
| Financial charges | 65/66B | €22,544 | €18,707 | -€3,838 | -17.0% |
| Recurring financial charges | 65 | €22,544 | €18,707 | -€3,838 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €145,005 | €133,098 | -€11,907 | -8.2% |
| Income taxes | 67/77 | €34,065 | €33,832 | -€233 | -0.7% |
| Profit (loss) for the period | 9904 | €110,940 | €99,266 | -€11,674 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €110,940 | €99,266 | -€11,674 | -10.5% |
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.