SAAI BEHEER: 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.
SAAI BEHEER
Largest movements
- Financial fixed assets +€941,689
up €941,689 (+166%), from €567,778 to €1.5m
- Cash +€121,393
up €121,393 (+146%), from €83,221 to €204,615
mainly Net result for the year (+€1.9m) and Current investments (+€98,854)
- Current investments -€98,854
down €98,854 (-7.6%), from €1.3m to €1.2m
- Receivables after one year -€48,000
down €48,000 (-92.3%), from €52,000 to €4,000
- Reserves +€869,748
up €869,748 (+38.9%), from €2.2m to €3.1m
- Financial income +€1.5m
up €1.5m (+266%), from €557,259 to €2.0m
- Financial charges -€25,687
down €25,687 (-27.8%), from €92,485 to €66,798
- Gross operating margin -€11,424
down €11,424, from €8,678 to -€2,746
- Depreciation -€293
down €293 (-1.0%), from €28,203 to €27,910
- Taxes -€203
down €203 (-27.8%), from €730 to €527
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.
Derived cash bridge
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 | €2,274,190 | €3,132,910 | +€858,721 | +37.8% |
| Fixed assets | 21/28 | €680,124 | €1,593,903 | +€913,779 | +134% |
| Tangible fixed assets | 22/27 | €112,346 | €84,436 | -€27,910 | -24.8% |
| Furniture and vehicles | 24 | €112,346 | €84,436 | -€27,910 | -24.8% |
| Financial fixed assets | 28 | €567,778 | €1,509,467 | +€941,689 | +166% |
| Current assets | 29/58 | €1,594,066 | €1,539,008 | -€55,058 | -3.5% |
| Amounts receivable after more than one year | 29 | €52,000 | €4,000 | -€48,000 | -92.3% |
| Other amounts receivable | 291 | €52,000 | €4,000 | -€48,000 | -92.3% |
| Amounts receivable within one year | 40/41 | €162,657 | €133,239 | -€29,418 | -18.1% |
| Trade receivables | 40 | €18,876 | €24,895 | +€6,019 | +31.9% |
| Other amounts receivable | 41 | €143,781 | €108,344 | -€35,437 | -24.6% |
| Current investments | 50/53 | €1,292,668 | €1,193,814 | -€98,854 | -7.6% |
| Cash at bank and in hand | 54/58 | €83,221 | €204,615 | +€121,393 | +146% |
| Deferred charges and accrued income | 490/1 | €3,521 | €3,340 | -€180 | -5.1% |
| Total equity and liabilities | 10/49 | €2,274,190 | €3,132,910 | +€858,721 | +37.8% |
| Equity | 10/15 | €2,253,152 | €3,122,899 | +€869,748 | +38.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,233,152 | €3,102,899 | +€869,748 | +38.9% |
| Distributable reserves | 133 | €2,233,152 | €3,102,899 | +€869,748 | +38.9% |
| Amounts payable | 17/49 | €21,038 | €10,011 | -€11,027 | -52.4% |
| Amounts payable within one year | 42/48 | €15,150 | €4,147 | -€11,003 | -72.6% |
| Trade debts | 44 | - | €782 | +€782 | |
| Suppliers | 440/4 | - | €782 | +€782 | |
| Taxes, remuneration and social security | 45 | €3,000 | €3,000 | = | 0.0% |
| Taxes | 450/3 | €1,350 | €1,350 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,650 | €1,650 | = | 0.0% |
| Other amounts payable | 47/48 | €12,150 | €365 | -€11,785 | -97.0% |
| Accrued charges and deferred income | 492/3 | €5,888 | €5,864 | -€23 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,203 | €27,910 | -€293 | -1.0% |
| Other operating charges | 640/8 | €1,908 | €1,922 | +€14 | +0.7% |
| Gross operating margin | 9900 | €8,678 | -€2,746 | -€11,424 | |
| Operating profit (loss) | 9901 | -€21,433 | -€32,578 | -€11,144 | -52.0% |
| Financial income | 75/76B | €557,259 | €2,041,651 | +€1.5m | +266% |
| Recurring financial income | 75 | €557,259 | €2,041,651 | +€1.5m | +266% |
| Financial charges | 65/66B | €92,485 | €66,798 | -€25,687 | -27.8% |
| Recurring financial charges | 65 | €92,485 | €66,798 | -€25,687 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €443,340 | €1,942,275 | +€1.5m | +338% |
| Income taxes | 67/77 | €730 | €527 | -€203 | -27.8% |
| Profit (loss) for the period | 9904 | €442,610 | €1,941,748 | +€1.5m | +339% |
| Profit (loss) for the period to be appropriated | 9905 | €442,610 | €1,941,748 | +€1.5m | +339% |
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 18 October 2026 via checked.be.