SA²: 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.
SA²
Largest movements
- Current investments +€24,256
new in 2025: €24,256
- Financial fixed assets +€21,488
new in 2025: €21,488
- Cash +€21,275
up €21,275 (+23.6%), from €90,049 to €111,324
mainly Other debts (+€138,000) and Net result for the year (+€52,405)
- Tangible fixed assets -€18,733
down €18,733 (-45.6%), from €41,094 to €22,360
- Receivables within one year +€3,170
up €3,170 (+14.4%), from €21,949 to €25,119
of which Other amounts receivable: +€22,911
- Other debts +€138,000
new in 2025: €138,000
- Profit (loss) carried forward -€85,595
down €85,595 (-63.6%), from €134,577 to €48,983
- Gross operating margin -€6,359
down €6,359 (-6.9%), from €92,202 to €85,844
- Financial income -€4,984
down €4,984 (-93.0%), from €5,357 to €373
- Taxes -€2,830
down €2,830 (-17.0%), from €16,645 to €13,815
- Depreciation +€1,458
up €1,458 (+8.4%), from €17,275 to €18,733
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 | €153,092 | €204,547 | +€51,455 | +33.6% |
| Fixed assets | 21/28 | €41,094 | €43,848 | +€2,754 | +6.7% |
| Tangible fixed assets | 22/27 | €41,094 | €22,360 | -€18,733 | -45.6% |
| Furniture and vehicles | 24 | €41,094 | €22,360 | -€18,733 | -45.6% |
| Financial fixed assets | 28 | - | €21,488 | +€21,488 | |
| Current assets | 29/58 | €111,998 | €160,698 | +€48,700 | +43.5% |
| Amounts receivable within one year | 40/41 | €21,949 | €25,119 | +€3,170 | +14.4% |
| Trade receivables | 40 | €19,950 | €208 | -€19,742 | -99.0% |
| Other amounts receivable | 41 | €1,999 | €24,910 | +€22,911 | +1146.1% |
| Current investments | 50/53 | - | €24,256 | +€24,256 | |
| Cash at bank and in hand | 54/58 | €90,049 | €111,324 | +€21,275 | +23.6% |
| Total equity and liabilities | 10/49 | €153,092 | €204,547 | +€51,455 | +33.6% |
| Equity | 10/15 | €140,077 | €54,483 | -€85,595 | -61.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,577 | €48,983 | -€85,595 | -63.6% |
| Amounts payable | 17/49 | €13,014 | €150,064 | +€137,049 | +1053.1% |
| Amounts payable within one year | 42/48 | €13,014 | €150,064 | +€137,049 | +1053.1% |
| Trade debts | 44 | €2,888 | €3,024 | +€136 | +4.7% |
| Suppliers | 440/4 | €2,888 | €3,024 | +€136 | +4.7% |
| Taxes, remuneration and social security | 45 | €10,126 | €9,039 | -€1,087 | -10.7% |
| Taxes | 450/3 | €10,126 | €9,039 | -€1,087 | -10.7% |
| Other amounts payable | 47/48 | - | €138,000 | +€138,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,275 | €18,733 | +€1,458 | +8.4% |
| Other operating charges | 640/8 | €841 | €1,162 | +€321 | +38.2% |
| Gross operating margin | 9900 | €92,202 | €85,844 | -€6,359 | -6.9% |
| Operating profit (loss) | 9901 | €74,086 | €65,948 | -€8,138 | -11.0% |
| Financial income | 75/76B | €5,357 | €373 | -€4,984 | -93.0% |
| Recurring financial income | 75 | €5,357 | €373 | -€4,984 | -93.0% |
| Financial charges | 65/66B | €119 | €101 | -€18 | -15.2% |
| Recurring financial charges | 65 | €119 | €101 | -€18 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €79,325 | €66,220 | -€13,104 | -16.5% |
| Income taxes | 67/77 | €16,645 | €13,815 | -€2,830 | -17.0% |
| Profit (loss) for the period | 9904 | €62,680 | €52,405 | -€10,275 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,680 | €52,405 | -€10,275 | -16.4% |
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 9 October 2026 via checked.be.