JOHN SAEY: 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.
JOHN SAEY
Largest movements
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Cash +€116,028
up €116,028 (+92.1%), from €125,951 to €241,979
mainly Current investments (+€250,000) and Net result for the year (+€54,415)
- Tangible fixed assets -€16,082
down €16,082 (-2.5%), from €653,008 to €636,926
of which Furniture and vehicles: -€8,407
- Reserves -€145,585
down €145,585 (-19.4%), from €749,148 to €603,564
of which Distributable reserves: -€145,585
- Depreciation -€18,938
down €18,938 (-26.9%), from €70,518 to €51,579
- Staff costs +€6,700
up €6,700 (+5.2%), from €128,312 to €135,012
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 | €1,062,611 | €904,979 | -€157,632 | -14.8% |
| Fixed assets | 21/28 | €676,882 | €652,343 | -€24,539 | -3.6% |
| Intangible fixed assets | 21 | €22,943 | €15,418 | -€7,525 | -32.8% |
| Tangible fixed assets | 22/27 | €653,008 | €636,926 | -€16,082 | -2.5% |
| Land and buildings | 22 | €609,312 | €604,069 | -€5,242 | -0.9% |
| Plant, machinery and equipment | 23 | €5,808 | €3,375 | -€2,433 | -41.9% |
| Furniture and vehicles | 24 | €37,889 | €29,481 | -€8,407 | -22.2% |
| Financial fixed assets | 28 | €932 | €0 | -€932 | -100% |
| Current assets | 29/58 | €385,729 | €252,636 | -€133,093 | -34.5% |
| Amounts receivable within one year | 40/41 | €9 | €987 | +€978 | +11,119% |
| Trade receivables | 40 | €0 | €287 | +€287 | |
| Other amounts receivable | 41 | €9 | €700 | +€691 | +7,855% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €125,951 | €241,979 | +€116,028 | +92.1% |
| Deferred charges and accrued income | 490/1 | €9,769 | €9,669 | -€100 | -1.0% |
| Total equity and liabilities | 10/49 | €1,062,611 | €904,979 | -€157,632 | -14.8% |
| Equity | 10/15 | €810,648 | €665,064 | -€145,585 | -18.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €749,148 | €603,564 | -€145,585 | -19.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €742,998 | €597,414 | -€145,585 | -19.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €251,963 | €239,915 | -€12,047 | -4.8% |
| Amounts payable within one year | 42/48 | €251,963 | €239,915 | -€12,047 | -4.8% |
| Trade debts | 44 | €25,656 | €16,862 | -€8,794 | -34.3% |
| Suppliers | 440/4 | €25,656 | €16,862 | -€8,794 | -34.3% |
| Taxes, remuneration and social security | 45 | €26,306 | €23,053 | -€3,253 | -12.4% |
| Taxes | 450/3 | €14,548 | €11,105 | -€3,443 | -23.7% |
| Remuneration and social security | 454/9 | €11,759 | €11,948 | +€189 | +1.6% |
| Other amounts payable | 47/48 | €200,000 | €200,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €128,312 | €135,012 | +€6,700 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,518 | €51,579 | -€18,938 | -26.9% |
| Other operating charges | 640/8 | €38,867 | €37,442 | -€1,425 | -3.7% |
| Gross operating margin | 9900 | €290,932 | €291,329 | +€397 | +0.1% |
| Operating profit (loss) | 9901 | €53,235 | €67,295 | +€14,059 | +26.4% |
| Financial income | 75/76B | €7,566 | €4,940 | -€2,625 | -34.7% |
| Recurring financial income | 75 | €7,566 | €4,940 | -€2,625 | -34.7% |
| Financial charges | 65/66B | €520 | €623 | +€103 | +19.8% |
| Recurring financial charges | 65 | €520 | €623 | +€103 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €60,281 | €71,612 | +€11,331 | +18.8% |
| Income taxes | 67/77 | €14,288 | €17,197 | +€2,909 | +20.4% |
| Profit (loss) for the period | 9904 | €45,993 | €54,415 | +€8,422 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,993 | €54,415 | +€8,422 | +18.3% |
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 14 October 2026 via checked.be.