S.A.B.: 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.
S.A.B.
Largest movements
- Cash +€138,944
up €138,944 (+83.5%), from €166,366 to €305,310
mainly Other debts (+€151,643) and Net result for the year (+€137,973)
- Tangible fixed assets -€33,689
down €33,689 (-28.5%), from €118,415 to €84,725
of which Furniture and vehicles: -€32,663
- Stocks and contracts -€30,859
down €30,859 (-23.5%), from €131,270 to €100,411
- Deferred charges and accrued income -€20,662
down €20,662 (-43.7%), from €47,323 to €26,662
- Other debts +€151,643
new in 2025: €151,643
- Reserves -€112,027
down €112,027 (-6.7%), from €1.7m to €1.6m
- Write-downs -€15,000
no longer reported in 2025 (was €15,000)
- Financial income -€9,445
down €9,445 (-37.0%), from €25,502 to €16,057
- Gross operating margin -€5,646
down €5,646 (-2.5%), from €227,891 to €222,245
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 | €1,741,379 | €1,794,041 | +€52,662 | +3.0% |
| Fixed assets | 21/28 | €118,415 | €84,725 | -€33,689 | -28.5% |
| Tangible fixed assets | 22/27 | €118,415 | €84,725 | -€33,689 | -28.5% |
| Plant, machinery and equipment | 23 | €7,305 | €6,278 | -€1,027 | -14.1% |
| Furniture and vehicles | 24 | €111,109 | €78,447 | -€32,663 | -29.4% |
| Current assets | 29/58 | €1,622,964 | €1,709,316 | +€86,352 | +5.3% |
| Stocks and contracts in progress | 3 | €131,270 | €100,411 | -€30,859 | -23.5% |
| Stocks | 30/36 | €131,270 | €100,411 | -€30,859 | -23.5% |
| Amounts receivable within one year | 40/41 | €89,026 | €82,954 | -€6,072 | -6.8% |
| Trade receivables | 40 | €59,334 | €68,139 | +€8,805 | +14.8% |
| Other amounts receivable | 41 | €29,692 | €14,815 | -€14,876 | -50.1% |
| Current investments | 50/53 | €1,188,980 | €1,193,979 | +€5,000 | +0.4% |
| Cash at bank and in hand | 54/58 | €166,366 | €305,310 | +€138,944 | +83.5% |
| Deferred charges and accrued income | 490/1 | €47,323 | €26,662 | -€20,662 | -43.7% |
| Total equity and liabilities | 10/49 | €1,741,379 | €1,794,041 | +€52,662 | +3.0% |
| Equity | 10/15 | €1,690,682 | €1,578,655 | -€112,027 | -6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,678,282 | €1,566,255 | -€112,027 | -6.7% |
| Distributable reserves | 133 | €1,678,282 | €1,566,255 | -€112,027 | -6.7% |
| Provisions and deferred taxes | 16 | €17,106 | €17,106 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €17,106 | €17,106 | = | 0.0% |
| Pensions and similar obligations | 160 | €17,106 | €17,106 | = | 0.0% |
| Amounts payable | 17/49 | €33,591 | €198,281 | +€164,690 | +490% |
| Amounts payable within one year | 42/48 | €33,591 | €198,281 | +€164,690 | +490% |
| Trade debts | 44 | €251 | €6,536 | +€6,285 | +2,502% |
| Suppliers | 440/4 | €251 | €6,536 | +€6,285 | +2,502% |
| Taxes, remuneration and social security | 45 | €33,340 | €40,102 | +€6,762 | +20.3% |
| Taxes | 450/3 | €33,340 | €40,102 | +€6,762 | +20.3% |
| Other amounts payable | 47/48 | - | €151,643 | +€151,643 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,994 | €38,556 | +€562 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,000 | - | -€15,000 | |
| Other operating charges | 640/8 | €3,169 | €2,194 | -€975 | -30.8% |
| Gross operating margin | 9900 | €227,891 | €222,245 | -€5,646 | -2.5% |
| Operating profit (loss) | 9901 | €171,727 | €181,495 | +€9,768 | +5.7% |
| Financial income | 75/76B | €25,502 | €16,057 | -€9,445 | -37.0% |
| Recurring financial income | 75 | €25,502 | €16,057 | -€9,445 | -37.0% |
| Financial charges | 65/66B | €154 | €210 | +€56 | +36.3% |
| Recurring financial charges | 65 | €154 | €210 | +€56 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €197,075 | €197,342 | +€267 | +0.1% |
| Income taxes | 67/77 | €60,050 | €59,369 | -€681 | -1.1% |
| Profit (loss) for the period | 9904 | €137,025 | €137,973 | +€947 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,025 | €137,973 | +€947 | +0.7% |
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 23 October 2026 via checked.be.