LE SAVINI: 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 SAVINI
Largest movements
- Tangible fixed assets +€296,569
up €296,569 (+2,370%), from €12,515 to €309,084
of which Land and buildings: +€299,689
- Receivables within one year +€29,498
up €29,498 (+181%), from €16,274 to €45,772
of which Other amounts receivable: +€27,939
- Cash -€14,325
down €14,325 (-18.4%), from €78,032 to €63,707
mainly Investment in fixed assets (net) (-€351,610) and Receivables within one year (-€29,498)
- Formation expenses +€6,841
new in 2025: €6,841
- Debts after one year +€221,680
new in 2025: €221,680
- Reserves +€35,216
up €35,216 (+427%), from €8,250 to €43,467
- Tax, wage and social debts +€34,924
up €34,924 (+84.0%), from €41,568 to €76,491
of which Taxes: +€22,598
- Current portion of long-term debt +€28,320
new in 2025: €28,320
- Trade debts -€21,598
down €21,598 (-56.2%), from €38,448 to €16,850
- Gross operating margin +€145,889
up €145,889 (+62.6%), from €232,930 to €378,819
- Staff costs +€83,328
up €83,328 (+55.2%), from €150,870 to €234,198
- Depreciation +€43,328
up €43,328 (+889%), from €4,873 to €48,200
- Taxes +€9,003
up €9,003 (+99.5%), from €9,044 to €18,048
- Other operating charges +€6,480
up €6,480 (+37.9%), from €17,080 to €23,559
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 | €106,945 | €425,487 | +€318,542 | +298% |
| Formation expenses | 20 | - | €6,841 | +€6,841 | |
| Fixed assets | 21/28 | €12,515 | €309,084 | +€296,569 | +2,370% |
| Tangible fixed assets | 22/27 | €12,515 | €309,084 | +€296,569 | +2,370% |
| Land and buildings | 22 | - | €299,689 | +€299,689 | |
| Plant, machinery and equipment | 23 | €8,149 | €4,008 | -€4,141 | -50.8% |
| Furniture and vehicles | 24 | €4,366 | €5,388 | +€1,022 | +23.4% |
| Current assets | 29/58 | €94,430 | €109,562 | +€15,132 | +16.0% |
| Amounts receivable within one year | 40/41 | €16,274 | €45,772 | +€29,498 | +181% |
| Trade receivables | 40 | €1,381 | €2,939 | +€1,559 | +113% |
| Other amounts receivable | 41 | €14,893 | €42,833 | +€27,939 | +188% |
| Cash at bank and in hand | 54/58 | €78,032 | €63,707 | -€14,325 | -18.4% |
| Deferred charges and accrued income | 490/1 | €124 | €83 | -€41 | -33.1% |
| Total equity and liabilities | 10/49 | €106,945 | €425,487 | +€318,542 | +298% |
| Equity | 10/15 | €26,850 | €62,067 | +€35,216 | +131% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,250 | €43,467 | +€35,216 | +427% |
| Distributable reserves | 133 | €8,250 | €43,467 | +€35,216 | +427% |
| Amounts payable | 17/49 | €80,094 | €363,420 | +€283,325 | +354% |
| Amounts payable after more than one year | 17 | - | €221,680 | +€221,680 | |
| Financial debts | 170/4 | - | €221,680 | +€221,680 | |
| Amounts payable within one year | 42/48 | €80,094 | €141,740 | +€61,646 | +77.0% |
| Current portion of amounts payable after more than one year | 42 | - | €28,320 | +€28,320 | |
| Trade debts | 44 | €38,448 | €16,850 | -€21,598 | -56.2% |
| Suppliers | 440/4 | €38,448 | €16,850 | -€21,598 | -56.2% |
| Taxes, remuneration and social security | 45 | €41,568 | €76,491 | +€34,924 | +84.0% |
| Taxes | 450/3 | €23,441 | €46,040 | +€22,598 | +96.4% |
| Remuneration and social security | 454/9 | €18,126 | €30,452 | +€12,325 | +68.0% |
| Other amounts payable | 47/48 | €78 | €20,078 | +€20,000 | +25,566% |
| Remuneration, social security and pensions | 62 | €150,870 | €234,198 | +€83,328 | +55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,873 | €48,200 | +€43,328 | +889% |
| Other operating charges | 640/8 | €17,080 | €23,559 | +€6,480 | +37.9% |
| Gross operating margin | 9900 | €232,930 | €378,819 | +€145,889 | +62.6% |
| Operating profit (loss) | 9901 | €60,108 | €72,862 | +€12,753 | +21.2% |
| Financial income | 75/76B | €4 | €1,600 | +€1,596 | +42,113% |
| Recurring financial income | 75 | €4 | €1,600 | +€1,596 | +42,113% |
| Financial charges | 65/66B | €495 | €1,198 | +€703 | +142% |
| Recurring financial charges | 65 | €495 | €1,198 | +€703 | +142% |
| Profit (loss) for the period before taxes | 9903 | €59,617 | €73,264 | +€13,647 | +22.9% |
| Income taxes | 67/77 | €9,044 | €18,048 | +€9,003 | +99.5% |
| Profit (loss) for the period | 9904 | €50,573 | €55,216 | +€4,643 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,573 | €55,216 | +€4,643 | +9.2% |
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 15 October 2026 via checked.be.