S.A.D.EVOLUTION: 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.EVOLUTION
Largest movements
- Deferred charges and accrued income -€10,338
down €10,338 (-98.0%), from €10,553 to €215
- Receivables after one year +€3,400
up €3,400 (+1.4%), from €248,000 to €251,400
- Tangible fixed assets -€3,175
down €3,175 (-63.1%), from €5,031 to €1,856
of which Furniture and vehicles: -€3,175
- Reserves -€4,153
down €4,153 (-1.5%), from €276,453 to €272,300
of which Distributable reserves: -€4,153
- Gross operating margin -€30,308
down €30,308 (-99.1%), from €30,597 to €290
- Taxes -€8,462
down €8,462 (-96.9%), from €8,732 to €270
- Depreciation +€1,856
up €1,856 (+140.8%), from €1,318 to €3,175
- Financial charges -€537
down €537 (-82.0%), from €654 to €118
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.
Cash bridge derived
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 | €305,741 | €297,503 | -€8,238 | -2.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,031 | €1,856 | -€3,175 | -63.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €5,031 | €1,856 | -€3,175 | -63.1% |
| Furniture and vehicles | 24 | €5,031 | €1,856 | -€3,175 | -63.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €300,710 | €295,647 | -€5,064 | -1.7% |
| Amounts receivable after more than one year | 29 | €248,000 | €251,400 | +€3,400 | +1.4% |
| Other amounts receivable | 291 | €248,000 | €251,400 | +€3,400 | +1.4% |
| Amounts receivable within one year | 40/41 | €5,144 | €6,060 | +€916 | +17.8% |
| Other amounts receivable | 41 | €5,144 | €6,060 | +€916 | +17.8% |
| Cash at bank and in hand | 54/58 | €37,013 | €37,972 | +€958 | +2.6% |
| Deferred charges and accrued income | 490/1 | €10,553 | €215 | -€10,338 | -98.0% |
| Total equity and liabilities | 10/49 | €305,741 | €297,503 | -€8,238 | -2.7% |
| Equity | 10/15 | €284,713 | €280,560 | -€4,153 | -1.5% |
| Contributions | 10/11 | €8,260 | €8,260 | = | 0.0% |
| Reserves | 13 | €276,453 | €272,300 | -€4,153 | -1.5% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €268,453 | €264,300 | -€4,153 | -1.5% |
| Amounts payable | 17/49 | €21,028 | €16,943 | -€4,085 | -19.4% |
| Amounts payable within one year | 42/48 | €20,219 | €16,134 | -€4,085 | -20.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €992 | €1,099 | +€106 | +10.7% |
| Suppliers | 440/4 | €992 | €1,099 | +€106 | +10.7% |
| Taxes, remuneration and social security | 45 | €1,500 | €0 | -€1,500 | -100.0% |
| Taxes | 450/3 | €1,500 | €0 | -€1,500 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €17,727 | €15,035 | -€2,692 | -15.2% |
| Accrued charges and deferred income | 492/3 | €809 | €809 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,318 | €3,175 | +€1,856 | +140.8% |
| Other operating charges | 640/8 | €778 | €1,081 | +€302 | +38.8% |
| Gross operating margin | 9900 | €30,597 | €290 | -€30,308 | -99.1% |
| Operating profit (loss) | 9901 | €28,501 | -€3,966 | -€32,466 | |
| Financial income | 75/76B | €21 | €200 | +€179 | +862.3% |
| Recurring financial income | 75 | €21 | €200 | +€179 | +862.3% |
| Financial charges | 65/66B | €654 | €118 | -€537 | -82.0% |
| Recurring financial charges | 65 | €654 | €118 | -€537 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | €27,867 | -€3,883 | -€31,751 | |
| Income taxes | 67/77 | €8,732 | €270 | -€8,462 | -96.9% |
| Profit (loss) for the period | 9904 | €19,136 | -€4,153 | -€23,289 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,136 | -€4,153 | -€23,289 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.