SA-VA: 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.
SA-VA
Largest movements
- Cash -€2,350
down €2,350 (-50.0%), from €4,702 to €2,352
mainly Net result for the year (-€17,314) and Debts after one year (-€7,690)
- Tangible fixed assets -€1,893
down €1,893 (-13.3%), from €14,195 to €12,302
of which Plant, machinery and equipment: -€1,216
- Stocks and contracts -€1,546
down €1,546 (-20.6%), from €7,500 to €5,954
- Deferred charges and accrued income +€1,293
up €1,293 (+32.8%), from €3,946 to €5,239
- Receivables within one year -€1,164
down €1,164 (-57.1%), from €2,039 to €875
of which Other amounts receivable: -€1,899
- Trade debts +€27,734
up €27,734 (+1559.5%), from €1,778 to €29,513
- Profit (loss) carried forward -€17,314
down €17,314 (-29.3%), from -€58,997 to -€76,311
- Debts after one year -€7,690
down €7,690 (-41.7%), from €18,433 to €10,743
- Other debts -€4,544
down €4,544 (-8.0%), from €56,888 to €52,344
- Accrued charges and deferred income -€2,913
down €2,913 (-74.9%), from €3,889 to €976
- Staff costs +€30,966
up €30,966 (+42.0%), from €73,712 to €104,678
- Taxes -€6,993
down €6,993, from €6,497 to -€496
- Gross operating margin +€3,045
up €3,045 (+3.4%), from €90,495 to €93,540
- Other operating charges +€2,504
up €2,504 (+809.4%), from €309 to €2,813
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 | €60,485 | €55,092 | -€5,393 | -8.9% |
| Fixed assets | 21/28 | €42,297 | €40,671 | -€1,626 | -3.8% |
| Tangible fixed assets | 22/27 | €14,195 | €12,302 | -€1,893 | -13.3% |
| Plant, machinery and equipment | 23 | €4,762 | €3,546 | -€1,216 | -25.5% |
| Other tangible fixed assets | 26 | €9,433 | €8,757 | -€677 | -7.2% |
| Financial fixed assets | 28 | €28,102 | €28,369 | +€267 | +0.9% |
| Current assets | 29/58 | €18,187 | €14,420 | -€3,767 | -20.7% |
| Stocks and contracts in progress | 3 | €7,500 | €5,954 | -€1,546 | -20.6% |
| Stocks | 30/36 | €7,500 | €5,954 | -€1,546 | -20.6% |
| Amounts receivable within one year | 40/41 | €2,039 | €875 | -€1,164 | -57.1% |
| Trade receivables | 40 | €137 | €872 | +€735 | +538.8% |
| Other amounts receivable | 41 | €1,903 | €3 | -€1,899 | -99.8% |
| Cash at bank and in hand | 54/58 | €4,702 | €2,352 | -€2,350 | -50.0% |
| Deferred charges and accrued income | 490/1 | €3,946 | €5,239 | +€1,293 | +32.8% |
| Total equity and liabilities | 10/49 | €60,485 | €55,092 | -€5,393 | -8.9% |
| Equity | 10/15 | -€40,397 | -€57,711 | -€17,314 | -42.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€58,997 | -€76,311 | -€17,314 | -29.3% |
| Amounts payable | 17/49 | €100,881 | €112,803 | +€11,921 | +11.8% |
| Amounts payable after more than one year | 17 | €18,433 | €10,743 | -€7,690 | -41.7% |
| Financial debts | 170/4 | €18,433 | €10,743 | -€7,690 | -41.7% |
| Amounts payable within one year | 42/48 | €78,559 | €101,083 | +€22,524 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €7,389 | €7,690 | +€301 | +4.1% |
| Financial debts | 43 | €1,558 | €0 | -€1,558 | -100.0% |
| Credit institutions | 430/8 | €1,558 | €0 | -€1,558 | -100.0% |
| Trade debts | 44 | €1,778 | €29,513 | +€27,734 | +1559.5% |
| Suppliers | 440/4 | €1,778 | €29,513 | +€27,734 | +1559.5% |
| Taxes, remuneration and social security | 45 | €10,945 | €11,536 | +€591 | +5.4% |
| Taxes | 450/3 | €6,586 | €2,762 | -€3,824 | -58.1% |
| Remuneration and social security | 454/9 | €4,359 | €8,774 | +€4,415 | +101.3% |
| Other amounts payable | 47/48 | €56,888 | €52,344 | -€4,544 | -8.0% |
| Accrued charges and deferred income | 492/3 | €3,889 | €976 | -€2,913 | -74.9% |
| Remuneration, social security and pensions | 62 | €73,712 | €104,678 | +€30,966 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,106 | €3,518 | -€588 | -14.3% |
| Other operating charges | 640/8 | €309 | €2,813 | +€2,504 | +809.4% |
| Gross operating margin | 9900 | €90,495 | €93,540 | +€3,045 | +3.4% |
| Operating profit (loss) | 9901 | €12,367 | -€17,469 | -€29,837 | |
| Financial income | 75/76B | €471 | €974 | +€503 | +106.9% |
| Recurring financial income | 75 | €471 | €974 | +€503 | +106.9% |
| Financial charges | 65/66B | €1,470 | €1,315 | -€155 | -10.5% |
| Recurring financial charges | 65 | €1,470 | €1,315 | -€155 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €11,368 | -€17,811 | -€29,179 | |
| Income taxes | 67/77 | €6,497 | -€496 | -€6,993 | |
| Profit (loss) for the period | 9904 | €4,871 | -€17,314 | -€22,185 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,871 | -€17,314 | -€22,185 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.