LE SAULE: 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.
LE SAULE
Largest movements
- Cash -€125,978
down €125,978 (-33.7%), from €373,350 to €247,372
mainly Investment in fixed assets (net) (-€189,283) and Trade debts (-€20,364)
- Tangible fixed assets +€75,881
up €75,881 (+4.6%), from €1.6m to €1.7m
of which Land and buildings: +€80,936
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€440,067
down €440,067 (-99.6%), from €441,923 to €1,856
of which Non-recurring financial income: -€440,310
- Depreciation +€14,605
up €14,605 (+14.8%), from €98,796 to €113,401
- Gross operating margin -€4,669
down €4,669 (-4.0%), from €117,048 to €112,379
- Taxes +€2,400
up €2,400 (+18.3%), from €13,111 to €15,512
- Other operating charges -€1,987
down €1,987 (-10.0%), from €19,945 to €17,957
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 | €2,415,056 | €2,363,035 | -€52,021 | -2.2% |
| Fixed assets | 21/28 | €1,636,349 | €1,712,230 | +€75,881 | +4.6% |
| Tangible fixed assets | 22/27 | €1,636,349 | €1,712,230 | +€75,881 | +4.6% |
| Land and buildings | 22 | €1,625,284 | €1,706,219 | +€80,936 | +5.0% |
| Plant, machinery and equipment | 23 | €54 | - | -€54 | |
| Furniture and vehicles | 24 | €11,011 | €6,011 | -€5,000 | -45.4% |
| Current assets | 29/58 | €778,707 | €650,805 | -€127,902 | -16.4% |
| Amounts receivable within one year | 40/41 | €2,372 | €46 | -€2,326 | -98.1% |
| Other amounts receivable | 41 | €2,372 | €46 | -€2,326 | -98.1% |
| Current investments | 50/53 | €401,773 | €403,284 | +€1,511 | +0.4% |
| Cash at bank and in hand | 54/58 | €373,350 | €247,372 | -€125,978 | -33.7% |
| Deferred charges and accrued income | 490/1 | €1,211 | €103 | -€1,108 | -91.5% |
| Total equity and liabilities | 10/49 | €2,415,056 | €2,363,035 | -€52,021 | -2.2% |
| Equity | 10/15 | €1,937,745 | €1,923,809 | -€13,936 | -0.7% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €1,551,852 | €1,537,441 | -€14,411 | -0.9% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €670,668 | €626,257 | -€44,411 | -6.6% |
| Distributable reserves | 133 | €844,000 | €874,000 | +€30,000 | +3.6% |
| Profit (loss) carried forward | 14 | €14,052 | €14,528 | +€475 | +3.4% |
| Provisions and deferred taxes | 16 | €285,762 | €266,744 | -€19,018 | -6.7% |
| Deferred taxes | 168 | €285,762 | €266,744 | -€19,018 | -6.7% |
| Amounts payable | 17/49 | €191,549 | €172,482 | -€19,067 | -10.0% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,046 | €8,897 | -€20,149 | -69.4% |
| Trade debts | 44 | €21,353 | €989 | -€20,364 | -95.4% |
| Suppliers | 440/4 | €21,353 | €989 | -€20,364 | -95.4% |
| Advances received on contracts in progress | 46 | €1,650 | €1,650 | = | 0.0% |
| Other amounts payable | 47/48 | €6,043 | €6,258 | +€215 | +3.6% |
| Accrued charges and deferred income | 492/3 | €2,503 | €3,586 | +€1,083 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,796 | €113,401 | +€14,605 | +14.8% |
| Other operating charges | 640/8 | €19,945 | €17,957 | -€1,987 | -10.0% |
| Gross operating margin | 9900 | €117,048 | €112,379 | -€4,669 | -4.0% |
| Operating profit (loss) | 9901 | -€1,693 | -€18,979 | -€17,286 | -1,021% |
| Financial income | 75/76B | €441,923 | €1,856 | -€440,067 | -99.6% |
| Recurring financial income | 75 | €1,613 | €1,856 | +€243 | +15.1% |
| Non-recurring financial income | 76B | €440,310 | - | -€440,310 | |
| Financial charges | 65/66B | €218 | €320 | +€101 | +46.4% |
| Recurring financial charges | 65 | €218 | €320 | +€101 | +46.4% |
| Profit (loss) for the period before taxes | 9903 | €440,012 | -€17,443 | -€457,454 | |
| Transfer from deferred taxes | 780 | €12,661 | €19,018 | +€6,357 | +50.2% |
| Transfer to deferred taxes | 680 | €110,077 | - | -€110,077 | |
| Income taxes | 67/77 | €13,111 | €15,512 | +€2,400 | +18.3% |
| Profit (loss) for the period | 9904 | €329,484 | -€13,936 | -€343,420 | |
| Transfer from tax-exempt reserves | 789 | €25,340 | €44,411 | +€19,071 | +75.3% |
| Transfer to tax-exempt reserves | 689 | €330,232 | - | -€330,232 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,591 | €30,475 | +€5,884 | +23.9% |
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 24 October 2026 via checked.be.