SAAP: 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.
SAAP
Largest movements
- Deferred charges and accrued income -€7,125
down €7,125 (-51.4%), from €13,862 to €6,737
- Receivables within one year +€6,235
up €6,235 (+28.9%), from €21,577 to €27,812
of which Trade receivables: +€14,601
- Cash +€4,248
up €4,248 (+10.9%), from €39,132 to €43,381
mainly Net result for the year (+€17,841) and Deferred charges and accrued income (+€7,125)
- Tangible fixed assets +€2,851
up €2,851 (+148.0%), from €1,926 to €4,776
- Reserves +€17,840
up €17,840 (+31.3%), from €56,926 to €74,766
- Contributions -€12,000
down €12,000 (-96.8%), from €12,400 to €400
- Tax, wage and social debts -€1,486
down €1,486 (-27.5%), from €5,413 to €3,927
- Accrued charges and deferred income +€1,368
new in 2025: €1,368
- Gross operating margin +€11,013
up €11,013 (+70.5%), from €15,629 to €26,642
- Taxes +€2,764
up €2,764 (+59.3%), from €4,663 to €7,427
- Depreciation +€671
up €671 (+396.3%), from €169 to €841
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 | €76,497 | €82,706 | +€6,210 | +8.1% |
| Fixed assets | 21/28 | €1,926 | €4,776 | +€2,851 | +148.0% |
| Tangible fixed assets | 22/27 | €1,926 | €4,776 | +€2,851 | +148.0% |
| Furniture and vehicles | 24 | €1,926 | €4,776 | +€2,851 | +148.0% |
| Current assets | 29/58 | €74,571 | €77,930 | +€3,359 | +4.5% |
| Amounts receivable within one year | 40/41 | €21,577 | €27,812 | +€6,235 | +28.9% |
| Trade receivables | 40 | €9,847 | €24,448 | +€14,601 | +148.3% |
| Other amounts receivable | 41 | €11,730 | €3,364 | -€8,366 | -71.3% |
| Cash at bank and in hand | 54/58 | €39,132 | €43,381 | +€4,248 | +10.9% |
| Deferred charges and accrued income | 490/1 | €13,862 | €6,737 | -€7,125 | -51.4% |
| Total equity and liabilities | 10/49 | €76,497 | €82,706 | +€6,210 | +8.1% |
| Equity | 10/15 | €69,348 | €75,189 | +€5,841 | +8.4% |
| Contributions | 10/11 | €12,400 | €400 | -€12,000 | -96.8% |
| Reserves | 13 | €56,926 | €74,766 | +€17,840 | +31.3% |
| Distributable reserves | 133 | €56,926 | €74,766 | +€17,840 | +31.3% |
| Profit (loss) carried forward | 14 | €22 | €23 | +€1 | +4.3% |
| Amounts payable | 17/49 | €7,149 | €7,518 | +€369 | +5.2% |
| Amounts payable within one year | 42/48 | €7,149 | €6,150 | -€999 | -14.0% |
| Trade debts | 44 | €1,736 | €2,223 | +€487 | +28.0% |
| Suppliers | 440/4 | €1,736 | €2,223 | +€487 | +28.0% |
| Taxes, remuneration and social security | 45 | €5,413 | €3,927 | -€1,486 | -27.5% |
| Taxes | 450/3 | €5,413 | €3,927 | -€1,486 | -27.5% |
| Accrued charges and deferred income | 492/3 | - | €1,368 | +€1,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169 | €841 | +€671 | +396.3% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €15,629 | €26,642 | +€11,013 | +70.5% |
| Operating profit (loss) | 9901 | €15,011 | €25,340 | +€10,329 | +68.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €87 | €72 | -€15 | -17.2% |
| Recurring financial charges | 65 | €87 | €72 | -€15 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €14,924 | €25,268 | +€10,344 | +69.3% |
| Income taxes | 67/77 | €4,663 | €7,427 | +€2,764 | +59.3% |
| Profit (loss) for the period | 9904 | €10,261 | €17,841 | +€7,580 | +73.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,261 | €17,841 | +€7,580 | +73.9% |
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.