S.A.D.: what changed
Two fiscal 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.D.
Largest movements
- Receivables within one year +€66,988
up €66,988 (+40.6%), from €165,089 to €232,077
of which Other amounts receivable: +€80,740
- Tangible fixed assets -€4,530
down €4,530 (-26.9%), from €16,814 to €12,284
of which Furniture and vehicles: -€3,460
- Profit (loss) carried forward +€38,530
up €38,530 (+115.4%), from €33,383 to €71,913
- Trade debts +€13,722
up €13,722 (+135.6%), from €10,122 to €23,844
- Tax, wage and social debts +€12,245
up €12,245 (+19.3%), from €63,568 to €75,813
of which Remuneration and social security: +€12,633
- Other operating charges -€6,446
down €6,446 (-96.0%), from €6,715 to €269
- Taxes +€3,940
up €3,940 (+24.9%), from €15,828 to €19,768
- Gross operating margin +€3,806
up €3,806 (+5.0%), from €75,676 to €79,482
- Financial income +€1,832
up €1,832 (+33.5%), from €5,463 to €7,295
- Financial charges +€1,342
up €1,342 (+84.5%), from €1,589 to €2,931
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,484 | €288,982 | +€63,498 | +28.2% |
| Fixed assets | 21/28 | €43,814 | €39,284 | -€4,530 | -10.3% |
| Tangible fixed assets | 22/27 | €16,814 | €12,284 | -€4,530 | -26.9% |
| Plant, machinery and equipment | 23 | €1,445 | €1,033 | -€412 | -28.5% |
| Furniture and vehicles | 24 | €14,153 | €10,693 | -€3,460 | -24.4% |
| Other tangible fixed assets | 26 | €1,216 | €558 | -€658 | -54.1% |
| Financial fixed assets | 28 | €27,000 | €27,000 | = | 0.0% |
| Current assets | 29/58 | €181,670 | €249,698 | +€68,028 | +37.4% |
| Stocks and contracts in progress | 3 | €1,300 | €1,150 | -€150 | -11.5% |
| Stocks | 30/36 | €1,300 | €1,150 | -€150 | -11.5% |
| Amounts receivable within one year | 40/41 | €165,089 | €232,077 | +€66,988 | +40.6% |
| Trade receivables | 40 | €16,505 | €2,753 | -€13,752 | -83.3% |
| Other amounts receivable | 41 | €148,584 | €229,324 | +€80,740 | +54.3% |
| Cash at bank and in hand | 54/58 | €15,281 | €16,077 | +€796 | +5.2% |
| Deferred charges and accrued income | 490/1 | - | €394 | +€394 | |
| Total equity and liabilities | 10/49 | €225,484 | €288,982 | +€63,498 | +28.2% |
| Equity | 10/15 | €150,795 | €189,325 | +€38,530 | +25.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €114,912 | €114,912 | = | 0.0% |
| Distributable reserves | 133 | €114,912 | €114,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,383 | €71,913 | +€38,530 | +115.4% |
| Amounts payable | 17/49 | €74,689 | €99,657 | +€24,968 | +33.4% |
| Amounts payable within one year | 42/48 | €74,689 | €99,657 | +€24,968 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €999 | - | -€999 | |
| Trade debts | 44 | €10,122 | €23,844 | +€13,722 | +135.6% |
| Suppliers | 440/4 | €10,122 | €23,844 | +€13,722 | +135.6% |
| Taxes, remuneration and social security | 45 | €63,568 | €75,813 | +€12,245 | +19.3% |
| Taxes | 450/3 | €47,879 | €47,491 | -€388 | -0.8% |
| Remuneration and social security | 454/9 | €15,689 | €28,322 | +€12,633 | +80.5% |
| Remuneration, social security and pensions | 62 | €15,951 | €16,576 | +€625 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,801 | €6,637 | +€836 | +14.4% |
| Other operating charges | 640/8 | €6,715 | €269 | -€6,446 | -96.0% |
| Non-recurring operating charges | 66A | €1,872 | €2,066 | +€194 | +10.4% |
| Gross operating margin | 9900 | €75,676 | €79,482 | +€3,806 | +5.0% |
| Operating profit (loss) | 9901 | €45,337 | €53,934 | +€8,597 | +19.0% |
| Financial income | 75/76B | €5,463 | €7,295 | +€1,832 | +33.5% |
| Recurring financial income | 75 | €5,463 | €7,295 | +€1,832 | +33.5% |
| Financial charges | 65/66B | €1,589 | €2,931 | +€1,342 | +84.5% |
| Recurring financial charges | 65 | €1,589 | €2,931 | +€1,342 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | €49,211 | €58,298 | +€9,087 | +18.5% |
| Income taxes | 67/77 | €15,828 | €19,768 | +€3,940 | +24.9% |
| Profit (loss) for the period | 9904 | €33,383 | €38,530 | +€5,147 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,383 | €38,530 | +€5,147 | +15.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.