DE SAX: what changed
Two fiscal 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 SAX
Largest movements
- Tangible fixed assets -€3,552
down €3,552 (-47.3%), from €7,508 to €3,956
of which Other tangible fixed assets: -€3,226
- Receivables within one year +€1,173
up €1,173 (+1234.3%), from €95 to €1,268
- Deferred charges and accrued income +€706
up €706 (+102.0%), from €692 to €1,397
- Profit (loss) carried forward -€7,800
down €7,800 (-15.1%), from -€51,595 to -€59,395
- Other debts +€4,867
up €4,867 (+23.7%), from €20,530 to €25,397
- Accrued charges and deferred income +€1,710
up €1,710 (+72.7%), from €2,351 to €4,061
- Trade debts -€1,594
down €1,594 (-7.0%), from €22,929 to €21,335
- Tax, wage and social debts +€1,204
up €1,204 (+11.1%), from €10,843 to €12,047
of which Taxes: +€2,061
- Gross operating margin -€17,010
down €17,010 (-44.8%), from €38,010 to €20,999
- Staff costs -€15,414
down €15,414 (-43.9%), from €35,151 to €19,737
- Taxes -€8,315
no longer reported in 2025 (was €8,315)
- Financial charges -€2,871
down €2,871 (-36.4%), from €7,893 to €5,022
- Financial income -€936
down €936 (-96.7%), from €968 to €32
of which Financial income: -€948
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.
Cash bridge derived
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 | €27,586 | €25,964 | -€1,622 | -5.9% |
| Fixed assets | 21/28 | €7,508 | €3,956 | -€3,552 | -47.3% |
| Tangible fixed assets | 22/27 | €7,508 | €3,956 | -€3,552 | -47.3% |
| Plant, machinery and equipment | 23 | €94 | - | -€94 | |
| Furniture and vehicles | 24 | €938 | €706 | -€231 | -24.7% |
| Other tangible fixed assets | 26 | €6,476 | €3,250 | -€3,226 | -49.8% |
| Current assets | 29/58 | €20,078 | €22,008 | +€1,930 | +9.6% |
| Stocks and contracts in progress | 3 | €7,730 | €7,922 | +€192 | +2.5% |
| Stocks | 30/36 | €7,730 | €7,922 | +€192 | +2.5% |
| Amounts receivable within one year | 40/41 | €95 | €1,268 | +€1,173 | +1234.3% |
| Trade receivables | 40 | €95 | €1,268 | +€1,173 | +1234.3% |
| Cash at bank and in hand | 54/58 | €11,561 | €11,421 | -€141 | -1.2% |
| Deferred charges and accrued income | 490/1 | €692 | €1,397 | +€706 | +102.0% |
| Total equity and liabilities | 10/49 | €27,586 | €25,964 | -€1,622 | -5.9% |
| Equity | 10/15 | -€31,135 | -€38,935 | -€7,800 | -25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,595 | -€59,395 | -€7,800 | -15.1% |
| Amounts payable | 17/49 | €58,721 | €64,899 | +€6,179 | +10.5% |
| Amounts payable within one year | 42/48 | €56,370 | €60,839 | +€4,469 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €2,068 | €2,060 | -€8 | -0.4% |
| Trade debts | 44 | €22,929 | €21,335 | -€1,594 | -7.0% |
| Suppliers | 440/4 | €22,929 | €21,335 | -€1,594 | -7.0% |
| Taxes, remuneration and social security | 45 | €10,843 | €12,047 | +€1,204 | +11.1% |
| Taxes | 450/3 | €7,110 | €9,171 | +€2,061 | +29.0% |
| Remuneration and social security | 454/9 | €3,733 | €2,876 | -€857 | -23.0% |
| Other amounts payable | 47/48 | €20,530 | €25,397 | +€4,867 | +23.7% |
| Accrued charges and deferred income | 492/3 | €2,351 | €4,061 | +€1,710 | +72.7% |
| Remuneration, social security and pensions | 62 | €35,151 | €19,737 | -€15,414 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,007 | €3,552 | -€456 | -11.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €38,010 | €20,999 | -€17,010 | -44.8% |
| Operating profit (loss) | 9901 | -€1,654 | -€2,809 | -€1,155 | -69.8% |
| Financial income | 75/76B | €968 | €32 | -€936 | -96.7% |
| Recurring financial income | 75 | €968 | €20 | -€948 | -97.9% |
| Non-recurring financial income | 76B | - | €12 | +€12 | |
| Financial charges | 65/66B | €7,893 | €5,022 | -€2,871 | -36.4% |
| Recurring financial charges | 65 | €7,893 | €5,022 | -€2,871 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,579 | -€7,800 | +€779 | +9.1% |
| Income taxes | 67/77 | €8,315 | - | -€8,315 | |
| Profit (loss) for the period | 9904 | -€16,894 | -€7,800 | +€9,094 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,894 | -€7,800 | +€9,094 | +53.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.