SAAR Management: what changed
SAAR Management
Largest movements
- Cash -€58,746
down €58,746 (-66.5%), from €88,299 to €29,553
mainly Tax, wage and social debts (-€47,489) and Net result for the year (-€26,105)
- Deferred charges and accrued income -€31,021
no longer reported in 2025 (was €31,021)
- Tangible fixed assets -€4,665
down €4,665 (-21.2%), from €22,048 to €17,383
- Receivables within one year +€3,702
up €3,702 (+265%), from €1,398 to €5,101
of which Other amounts receivable: +€4,891
- Tax, wage and social debts -€47,489
down €47,489 (-53.4%), from €88,850 to €41,362
of which Taxes: -€47,137
- Profit (loss) carried forward -€26,105
down €26,105 (-83.1%), from -€31,431 to -€57,536
- Other debts -€19,719
down €19,719 (-30.4%), from €64,828 to €45,109
- Trade debts +€2,583
up €2,583 (+14.7%), from €17,519 to €20,102
- Gross operating margin +€12,568
up €12,568 (+480%), from €2,621 to €15,188
- Staff costs +€1,392
up €1,392 (+4.3%), from €32,096 to €33,488
- Other operating charges +€396
up €396 (+129%), from €307 to €703
- Financial charges +€321
up €321 (+15.3%), from €2,098 to €2,418
- Depreciation +€154
up €154 (+3.4%), from €4,511 to €4,665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,766 | €52,036 | -€90,730 | -63.6% |
| Fixed assets | 21/28 | €22,048 | €17,383 | -€4,665 | -21.2% |
| Tangible fixed assets | 22/27 | €22,048 | €17,383 | -€4,665 | -21.2% |
| Furniture and vehicles | 24 | €22,048 | €17,383 | -€4,665 | -21.2% |
| Current assets | 29/58 | €120,718 | €34,654 | -€86,065 | -71.3% |
| Amounts receivable within one year | 40/41 | €1,398 | €5,101 | +€3,702 | +265% |
| Trade receivables | 40 | €1,398 | €210 | -€1,189 | -85.0% |
| Other amounts receivable | 41 | - | €4,891 | +€4,891 | |
| Cash at bank and in hand | 54/58 | €88,299 | €29,553 | -€58,746 | -66.5% |
| Deferred charges and accrued income | 490/1 | €31,021 | - | -€31,021 | |
| Total equity and liabilities | 10/49 | €142,766 | €52,036 | -€90,730 | -63.6% |
| Equity | 10/15 | -€28,431 | -€54,536 | -€26,105 | -91.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,431 | -€57,536 | -€26,105 | -83.1% |
| Amounts payable | 17/49 | €171,197 | €106,573 | -€64,625 | -37.7% |
| Amounts payable within one year | 42/48 | €171,197 | €106,573 | -€64,625 | -37.7% |
| Trade debts | 44 | €17,519 | €20,102 | +€2,583 | +14.7% |
| Suppliers | 440/4 | €17,519 | €20,102 | +€2,583 | +14.7% |
| Taxes, remuneration and social security | 45 | €88,850 | €41,362 | -€47,489 | -53.4% |
| Taxes | 450/3 | €83,349 | €36,212 | -€47,137 | -56.6% |
| Remuneration and social security | 454/9 | €5,502 | €5,150 | -€352 | -6.4% |
| Other amounts payable | 47/48 | €64,828 | €45,109 | -€19,719 | -30.4% |
| Remuneration, social security and pensions | 62 | €32,096 | €33,488 | +€1,392 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,511 | €4,665 | +€154 | +3.4% |
| Other operating charges | 640/8 | €307 | €703 | +€396 | +129% |
| Gross operating margin | 9900 | €2,621 | €15,188 | +€12,568 | +480% |
| Operating profit (loss) | 9901 | -€34,293 | -€23,668 | +€10,625 | +31.0% |
| Financial charges | 65/66B | €2,098 | €2,418 | +€321 | +15.3% |
| Recurring financial charges | 65 | €2,098 | €2,418 | +€321 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,391 | -€26,086 | +€10,305 | +28.3% |
| Income taxes | 67/77 | - | €19 | +€19 | |
| Profit (loss) for the period | 9904 | -€36,391 | -€26,105 | +€10,286 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,391 | -€26,105 | +€10,286 | +28.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.