SAENAPPE: 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.
SAENAPPE
Largest movements
- Receivables within one year +€3,814
new in 2025: €3,814
- Tangible fixed assets +€2,998
up €2,998 (+92.8%), from €3,231 to €6,229
of which Furniture and vehicles: +€1,808
- Cash -€1,889
down €1,889 (-5.3%), from €35,322 to €33,432
mainly Investment in fixed assets (net) (-€5,503) and Receivables within one year (-€3,814)
- Trade debts +€6,449
new in 2025: €6,449
- Tax, wage and social debts -€1,024
down €1,024 (-55.0%), from €1,864 to €840
- Other debts -€799
down €799 (-46.0%), from €1,738 to €939
- Gross operating margin -€2,220
down €2,220 (-39.4%), from €5,636 to €3,415
- Depreciation +€359
up €359 (+16.7%), from €2,145 to €2,505
- Financial charges -€98
down €98 (-69.8%), from €140 to €42
- Other operating charges +€78
up €78 (+15.8%), from €494 to €572
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 | €38,553 | €43,475 | +€4,922 | +12.8% |
| Fixed assets | 21/28 | €3,231 | €6,229 | +€2,998 | +92.8% |
| Tangible fixed assets | 22/27 | €3,231 | €6,229 | +€2,998 | +92.8% |
| Furniture and vehicles | 24 | €3,231 | €5,039 | +€1,808 | +55.9% |
| Other tangible fixed assets | 26 | - | €1,191 | +€1,191 | |
| Current assets | 29/58 | €35,322 | €37,246 | +€1,924 | +5.4% |
| Amounts receivable within one year | 40/41 | - | €3,814 | +€3,814 | |
| Trade receivables | 40 | - | €3,814 | +€3,814 | |
| Cash at bank and in hand | 54/58 | €35,322 | €33,432 | -€1,889 | -5.3% |
| Total equity and liabilities | 10/49 | €38,553 | €43,475 | +€4,922 | +12.8% |
| Equity | 10/15 | €34,951 | €35,248 | +€297 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,119 | €12,119 | = | 0.0% |
| Distributable reserves | 133 | €12,119 | €12,119 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,632 | €16,929 | +€297 | +1.8% |
| Amounts payable | 17/49 | €3,602 | €8,227 | +€4,625 | +128.4% |
| Amounts payable within one year | 42/48 | €3,602 | €8,227 | +€4,625 | +128.4% |
| Trade debts | 44 | - | €6,449 | +€6,449 | |
| Suppliers | 440/4 | - | €6,449 | +€6,449 | |
| Taxes, remuneration and social security | 45 | €1,864 | €840 | -€1,024 | -55.0% |
| Taxes | 450/3 | €1,864 | €840 | -€1,024 | -55.0% |
| Other amounts payable | 47/48 | €1,738 | €939 | -€799 | -46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,145 | €2,505 | +€359 | +16.7% |
| Other operating charges | 640/8 | €494 | €572 | +€78 | +15.8% |
| Gross operating margin | 9900 | €5,636 | €3,415 | -€2,220 | -39.4% |
| Operating profit (loss) | 9901 | €2,997 | €339 | -€2,658 | -88.7% |
| Financial charges | 65/66B | €140 | €42 | -€98 | -69.8% |
| Recurring financial charges | 65 | €140 | €42 | -€98 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €2,857 | €297 | -€2,560 | -89.6% |
| Income taxes | 67/77 | -€32 | - | +€32 | |
| Profit (loss) for the period | 9904 | €2,890 | €297 | -€2,593 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,890 | €297 | -€2,593 | -89.7% |
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 5 October 2026 via checked.be.