SAADE: 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.
SAADE
Largest movements
- Receivables after one year +€500,000
new in 2025: €500,000
- Cash +€32,914
up €32,914 (+1920.3%), from €1,714 to €34,628
mainly Debts after one year (+€445,000) and Contributions, distributions and other (+€125,000)
- Debts after one year +€445,000
up €445,000 (+809.1%), from €55,000 to €500,000
of which Other amounts payable: +€500,000
- Contributions +€125,000
up €125,000 (+500.0%), from €25,000 to €150,000
- Profit (loss) carried forward -€35,724
down €35,724 (-58.5%), from -€61,054 to -€96,778
- Gross operating margin -€2,421
down €2,421 (-8.4%), from -€28,715 to -€31,136
- Depreciation +€466
up €466 (+16.8%), from €2,779 to €3,245
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 | €22,179 | €555,035 | +€532,856 | +2402.5% |
| Fixed assets | 21/28 | €12,605 | €10,103 | -€2,502 | -19.8% |
| Tangible fixed assets | 22/27 | €8,105 | €5,603 | -€2,502 | -30.9% |
| Furniture and vehicles | 24 | €8,105 | €5,603 | -€2,502 | -30.9% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €9,574 | €544,932 | +€535,358 | +5591.8% |
| Amounts receivable after more than one year | 29 | - | €500,000 | +€500,000 | |
| Other amounts receivable | 291 | - | €500,000 | +€500,000 | |
| Amounts receivable within one year | 40/41 | €6,068 | €9,199 | +€3,131 | +51.6% |
| Trade receivables | 40 | €2,567 | €4,300 | +€1,733 | +67.5% |
| Other amounts receivable | 41 | €3,501 | €4,899 | +€1,398 | +39.9% |
| Cash at bank and in hand | 54/58 | €1,714 | €34,628 | +€32,914 | +1920.3% |
| Deferred charges and accrued income | 490/1 | €1,792 | €1,105 | -€687 | -38.3% |
| Total equity and liabilities | 10/49 | €22,179 | €555,035 | +€532,856 | +2402.5% |
| Equity | 10/15 | -€36,054 | €53,222 | +€89,276 | |
| Contributions | 10/11 | €25,000 | €150,000 | +€125,000 | +500.0% |
| Profit (loss) carried forward | 14 | -€61,054 | -€96,778 | -€35,724 | -58.5% |
| Amounts payable | 17/49 | €58,233 | €501,813 | +€443,580 | +761.7% |
| Amounts payable after more than one year | 17 | €55,000 | €500,000 | +€445,000 | +809.1% |
| Financial debts | 170/4 | €55,000 | €0 | -€55,000 | -100.0% |
| Other amounts payable | 178/9 | - | €500,000 | +€500,000 | |
| Amounts payable within one year | 42/48 | €1,939 | €374 | -€1,565 | -80.7% |
| Trade debts | 44 | €1,939 | €374 | -€1,565 | -80.7% |
| Suppliers | 440/4 | €1,939 | €374 | -€1,565 | -80.7% |
| Accrued charges and deferred income | 492/3 | €1,294 | €1,439 | +€145 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,779 | €3,245 | +€466 | +16.8% |
| Other operating charges | 640/8 | €698 | €805 | +€107 | +15.3% |
| Gross operating margin | 9900 | -€28,715 | -€31,136 | -€2,421 | -8.4% |
| Operating profit (loss) | 9901 | -€32,192 | -€35,186 | -€2,994 | -9.3% |
| Financial income | 75/76B | €9 | €7 | -€2 | -22.2% |
| Recurring financial income | 75 | €9 | €7 | -€2 | -22.2% |
| Financial charges | 65/66B | €270 | €385 | +€115 | +42.6% |
| Recurring financial charges | 65 | €270 | €385 | +€115 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,453 | -€35,564 | -€3,111 | -9.6% |
| Income taxes | 67/77 | €164 | €160 | -€4 | -2.4% |
| Profit (loss) for the period | 9904 | -€32,617 | -€35,724 | -€3,107 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,617 | -€35,724 | -€3,107 | -9.5% |
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.