SACOAIR: 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.
What changed
SACOAIR
NACE 52.250, Logistics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€23,395
2024 · -€344,305+€320,910
Equity
€272,937
2024 · €296,331-€23,395
Cash
€132,112
2024 · €151,675-€19,563
Balance sheet total
€3.2m
2024 · €2.6m+€576,466
Largest movements
Assets
- Receivables within one year +€490,666
up €490,666 (+27.6%), from €1.8m to €2.3m
of which Trade receivables: +€531,122
- Deferred charges and accrued income +€173,303
up €173,303 (+55.6%), from €311,743 to €485,046
- Tangible fixed assets -€51,695
down €51,695 (-25.8%), from €200,529 to €148,833
of which Other tangible fixed assets: -€38,562
Equity and liabilities
- Other debts +€305,410
up €305,410 (+204%), from €150,000 to €455,410
- Debts after one year +€300,000
up €300,000 (+42.4%), from €707,063 to €1.0m
- Tax, wage and social debts -€51,902
down €51,902 (-48.2%), from €107,612 to €55,709
of which Remuneration and social security: -€69,591
- Trade debts +€39,270
up €39,270 (+5.6%), from €706,662 to €745,931
Income statement
- Gross operating margin +€330,995
up €330,995 (+20.8%), from €1.6m to €1.9m
- Staff costs -€29,887
down €29,887 (-1.7%), from €1.8m to €1.7m
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.
Result 2024
-€344,305
Gross operating margin
+€330,995
Staff costs
+€29,887
Depreciation
-€12,800
Other operating charges
-€162
Other operating items
-€25,573
Financial income
-€10,197
Financial charges
+€6,330
Taxes
+€2,430
Result 2025
-€23,395
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€294,140
Investment
-€32,506
Financing
+€307,083
Cash 2024
€151,675
From operations (derived)
-€294,140
Net result for the year
-€23,395
Depreciation
+€94,049
Stocks and contracts
+€6,397
Receivables within one year
-€490,666
Deferred charges and accrued income
-€173,303
Trade debts
+€39,270
Tax, wage and social debts
-€51,902
Other debts
+€305,410
Investment (derived)
-€32,506
Investment in fixed assets (net)
-€32,506
Financing
+€307,083
Debts after one year
+€300,000
Current portion of long-term debt
-€7,453
Short-term financial debts
+€14,537
Cash 2025
€132,112
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,596,562 | €3,173,029 | +€576,466 | +22.2% |
| Fixed assets | 21/28 | €340,124 | €278,581 | -€61,543 | -18.1% |
| Intangible fixed assets | 21 | €55,864 | €46,016 | -€9,848 | -17.6% |
| Tangible fixed assets | 22/27 | €200,529 | €148,833 | -€51,695 | -25.8% |
| Plant, machinery and equipment | 23 | €24,952 | €30,214 | +€5,262 | +21.1% |
| Furniture and vehicles | 24 | €103,070 | €84,676 | -€18,395 | -17.8% |
| Other tangible fixed assets | 26 | €72,506 | €33,944 | -€38,562 | -53.2% |
| Financial fixed assets | 28 | €83,731 | €83,731 | = | 0.0% |
| Current assets | 29/58 | €2,256,438 | €2,894,448 | +€638,009 | +28.3% |
| Stocks and contracts in progress | 3 | €16,113 | €9,716 | -€6,397 | -39.7% |
| Stocks | 30/36 | €16,113 | €9,716 | -€6,397 | -39.7% |
| Amounts receivable within one year | 40/41 | €1,776,908 | €2,267,574 | +€490,666 | +27.6% |
| Trade receivables | 40 | €1,667,345 | €2,198,467 | +€531,122 | +31.9% |
| Other amounts receivable | 41 | €109,563 | €69,106 | -€40,456 | -36.9% |
| Cash at bank and in hand | 54/58 | €151,675 | €132,112 | -€19,563 | -12.9% |
| Deferred charges and accrued income | 490/1 | €311,743 | €485,046 | +€173,303 | +55.6% |
| Total equity and liabilities | 10/49 | €2,596,562 | €3,173,029 | +€576,466 | +22.2% |
| Equity | 10/15 | €296,331 | €272,937 | -€23,395 | -7.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €684,734 | €684,734 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €664,734 | €664,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€588,402 | -€611,797 | -€23,395 | -4.0% |
| Amounts payable | 17/49 | €2,300,231 | €2,900,092 | +€599,861 | +26.1% |
| Amounts payable after more than one year | 17 | €707,063 | €1,007,063 | +€300,000 | +42.4% |
| Financial debts | 170/4 | €707,063 | €1,007,063 | +€300,000 | +42.4% |
| Amounts payable within one year | 42/48 | €1,593,168 | €1,893,029 | +€299,861 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €7,453 | - | -€7,453 | |
| Financial debts | 43 | €621,441 | €635,978 | +€14,537 | +2.3% |
| Credit institutions | 430/8 | €621,441 | €635,978 | +€14,537 | +2.3% |
| Trade debts | 44 | €706,662 | €745,931 | +€39,270 | +5.6% |
| Suppliers | 440/4 | €706,662 | €745,931 | +€39,270 | +5.6% |
| Taxes, remuneration and social security | 45 | €107,612 | €55,709 | -€51,902 | -48.2% |
| Taxes | 450/3 | €22,357 | €40,045 | +€17,688 | +79.1% |
| Remuneration and social security | 454/9 | €85,255 | €15,664 | -€69,591 | -81.6% |
| Other amounts payable | 47/48 | €150,000 | €455,410 | +€305,410 | +204% |
| Remuneration, social security and pensions | 62 | €1,763,102 | €1,733,215 | -€29,887 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,249 | €94,049 | +€12,800 | +15.8% |
| Other operating charges | 640/8 | €37,905 | €38,067 | +€162 | +0.4% |
| Non-recurring operating charges | 66A | - | €25,573 | +€25,573 | |
| Gross operating margin | 9900 | €1,594,134 | €1,925,129 | +€330,995 | +20.8% |
| Operating profit (loss) | 9901 | -€288,122 | €34,225 | +€322,347 | |
| Financial income | 75/76B | €14,800 | €4,603 | -€10,197 | -68.9% |
| Recurring financial income | 75 | €14,800 | €4,603 | -€10,197 | -68.9% |
| Financial charges | 65/66B | €68,328 | €61,999 | -€6,330 | -9.3% |
| Recurring financial charges | 65 | €68,328 | €61,999 | -€6,330 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€341,650 | -€23,170 | +€318,480 | +93.2% |
| Income taxes | 67/77 | €2,654 | €224 | -€2,430 | -91.6% |
| Profit (loss) for the period | 9904 | -€344,305 | -€23,395 | +€320,910 | +93.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€344,305 | -€23,395 | +€320,910 | +93.2% |
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 19 October 2026 via checked.be.