S A C A L: 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 C A L
Largest movements
- Receivables within one year +€49,327
up €49,327 (+47.3%), from €104,376 to €153,703
of which Trade receivables: +€26,229
- Cash +€41,380
up €41,380 (+36.5%), from €113,347 to €154,726
mainly Net result for the year (+€105,321) and Other debts (+€17,900)
- Tangible fixed assets -€4,529
down €4,529 (-11.2%), from €40,497 to €35,968
of which Furniture and vehicles: -€5,819
- Reserves +€51,100
up €51,100 (+27.8%), from €183,759 to €234,859
of which Distributable reserves: +€51,100
- Other debts +€17,900
up €17,900 (+49.7%), from €36,000 to €53,900
- Tax, wage and social debts +€13,543
up €13,543 (+36.0%), from €37,660 to €51,203
- Gross operating margin +€39,504
up €39,504 (+34.4%), from €114,704 to €154,208
- Taxes +€11,746
up €11,746 (+33.5%), from €35,042 to €46,788
- Depreciation +€2,416
up €2,416 (+37.9%), from €6,374 to €8,791
- Financial income +€1,942
up €1,942 (+39.5%), from €4,912 to €6,854
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 | €259,236 | €344,578 | +€85,342 | +32.9% |
| Fixed assets | 21/28 | €40,622 | €36,093 | -€4,529 | -11.1% |
| Tangible fixed assets | 22/27 | €40,497 | €35,968 | -€4,529 | -11.2% |
| Plant, machinery and equipment | 23 | €1,449 | €4,237 | +€2,789 | +192% |
| Furniture and vehicles | 24 | €31,749 | €25,931 | -€5,819 | -18.3% |
| Other tangible fixed assets | 26 | €7,299 | €5,800 | -€1,499 | -20.5% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €218,614 | €308,485 | +€89,871 | +41.1% |
| Amounts receivable within one year | 40/41 | €104,376 | €153,703 | +€49,327 | +47.3% |
| Trade receivables | 40 | €4,281 | €30,511 | +€26,229 | +613% |
| Other amounts receivable | 41 | €100,095 | €123,193 | +€23,098 | +23.1% |
| Cash at bank and in hand | 54/58 | €113,347 | €154,726 | +€41,380 | +36.5% |
| Deferred charges and accrued income | 490/1 | €891 | €55 | -€836 | -93.8% |
| Total equity and liabilities | 10/49 | €259,236 | €344,578 | +€85,342 | +32.9% |
| Equity | 10/15 | €185,133 | €236,554 | +€51,421 | +27.8% |
| Reserves | 13 | €183,759 | €234,859 | +€51,100 | +27.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €181,900 | €233,000 | +€51,100 | +28.1% |
| Profit (loss) carried forward | 14 | €1,374 | €1,695 | +€321 | +23.4% |
| Amounts payable | 17/49 | €74,103 | €108,024 | +€33,921 | +45.8% |
| Amounts payable within one year | 42/48 | €74,103 | €108,024 | +€33,921 | +45.8% |
| Trade debts | 44 | €443 | €2,921 | +€2,478 | +559% |
| Suppliers | 440/4 | €443 | €2,921 | +€2,478 | +559% |
| Taxes, remuneration and social security | 45 | €37,660 | €51,203 | +€13,543 | +36.0% |
| Taxes | 450/3 | €37,660 | €51,203 | +€13,543 | +36.0% |
| Other amounts payable | 47/48 | €36,000 | €53,900 | +€17,900 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,374 | €8,791 | +€2,416 | +37.9% |
| Other operating charges | 640/8 | €273 | - | -€273 | |
| Gross operating margin | 9900 | €114,704 | €154,208 | +€39,504 | +34.4% |
| Operating profit (loss) | 9901 | €108,057 | €145,418 | +€37,361 | +34.6% |
| Financial income | 75/76B | €4,912 | €6,854 | +€1,942 | +39.5% |
| Recurring financial income | 75 | €4,912 | €6,854 | +€1,942 | +39.5% |
| Financial charges | 65/66B | €729 | €163 | -€566 | -77.7% |
| Recurring financial charges | 65 | €729 | €163 | -€566 | -77.7% |
| Profit (loss) for the period before taxes | 9903 | €112,239 | €152,109 | +€39,869 | +35.5% |
| Income taxes | 67/77 | €35,042 | €46,788 | +€11,746 | +33.5% |
| Profit (loss) for the period | 9904 | €77,198 | €105,321 | +€28,123 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €77,198 | €105,321 | +€28,123 | +36.4% |
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 31 October 2026 via checked.be.