SAEPRE: 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.
SAEPRE
Largest movements
- Receivables within one year +€59,330
up €59,330 (+605.0%), from €9,807 to €69,137
of which Other amounts receivable: +€58,681
- Intangible fixed assets -€43,500
no longer reported in 2025 (was €43,500)
- Cash -€31,138
down €31,138 (-35.4%), from €88,026 to €56,888
mainly Receivables within one year (-€59,330) and Debts after one year (-€26,460)
- Tangible fixed assets -€13,419
down €13,419 (-66.5%), from €20,170 to €6,751
of which Plant, machinery and equipment: -€12,166
- Reserves +€39,539
up €39,539 (+50.2%), from €78,789 to €118,328
- Debts after one year -€26,460
no longer reported in 2025 (was €26,460)
- Trade debts -€19,720
down €19,720 (-98.0%), from €20,131 to €411
- Other debts -€13,898
no longer reported in 2025 (was €13,898)
- Current portion of long-term debt -€10,869
no longer reported in 2025 (was €10,869)
- Financial income +€29,728
up €29,728 (+11303.4%), from €263 to €29,991
of which Non-recurring financial income: +€29,819
- Gross operating margin -€13,638
down €13,638 (-28.6%), from €47,604 to €33,966
- Depreciation -€11,087
down €11,087 (-86.5%), from €12,823 to €1,736
- Staff costs +€5,944
new in 2025: €5,944
- Taxes +€4,568
up €4,568 (+77.7%), from €5,879 to €10,447
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 | €161,503 | €132,776 | -€28,727 | -17.8% |
| Fixed assets | 21/28 | €63,670 | €6,751 | -€56,919 | -89.4% |
| Intangible fixed assets | 21 | €43,500 | - | -€43,500 | |
| Tangible fixed assets | 22/27 | €20,170 | €6,751 | -€13,419 | -66.5% |
| Plant, machinery and equipment | 23 | €15,063 | €2,897 | -€12,166 | -80.8% |
| Furniture and vehicles | 24 | €4,739 | €3,529 | -€1,210 | -25.5% |
| Other tangible fixed assets | 26 | €368 | €325 | -€43 | -11.7% |
| Current assets | 29/58 | €97,833 | €126,025 | +€28,192 | +28.8% |
| Amounts receivable within one year | 40/41 | €9,807 | €69,137 | +€59,330 | +605.0% |
| Trade receivables | 40 | €8,093 | €8,742 | +€649 | +8.0% |
| Other amounts receivable | 41 | €1,714 | €60,395 | +€58,681 | +3423.6% |
| Cash at bank and in hand | 54/58 | €88,026 | €56,888 | -€31,138 | -35.4% |
| Total equity and liabilities | 10/49 | €161,503 | €132,776 | -€28,727 | -17.8% |
| Equity | 10/15 | €79,789 | €119,328 | +€39,539 | +49.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €78,789 | €118,328 | +€39,539 | +50.2% |
| Distributable reserves | 133 | €78,789 | €118,328 | +€39,539 | +50.2% |
| Amounts payable | 17/49 | €81,714 | €13,448 | -€68,266 | -83.5% |
| Amounts payable after more than one year | 17 | €26,460 | - | -€26,460 | |
| Financial debts | 170/4 | €26,460 | - | -€26,460 | |
| Amounts payable within one year | 42/48 | €55,254 | €13,448 | -€41,806 | -75.7% |
| Current portion of amounts payable after more than one year | 42 | €10,869 | - | -€10,869 | |
| Trade debts | 44 | €20,131 | €411 | -€19,720 | -98.0% |
| Suppliers | 440/4 | €20,131 | €411 | -€19,720 | -98.0% |
| Taxes, remuneration and social security | 45 | €10,356 | €13,037 | +€2,681 | +25.9% |
| Taxes | 450/3 | €10,356 | €13,037 | +€2,681 | +25.9% |
| Other amounts payable | 47/48 | €13,898 | - | -€13,898 | |
| Remuneration, social security and pensions | 62 | - | €5,944 | +€5,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,823 | €1,736 | -€11,087 | -86.5% |
| Other operating charges | 640/8 | €5,485 | €4,290 | -€1,195 | -21.8% |
| Gross operating margin | 9900 | €47,604 | €33,966 | -€13,638 | -28.6% |
| Operating profit (loss) | 9901 | €29,296 | €21,996 | -€7,300 | -24.9% |
| Financial income | 75/76B | €263 | €29,991 | +€29,728 | +11303.4% |
| Recurring financial income | 75 | €263 | €172 | -€91 | -34.6% |
| Non-recurring financial income | 76B | - | €29,819 | +€29,819 | |
| Financial charges | 65/66B | €1,391 | €2,000 | +€609 | +43.8% |
| Recurring financial charges | 65 | €1,391 | €2,000 | +€609 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €28,168 | €49,987 | +€21,819 | +77.5% |
| Income taxes | 67/77 | €5,879 | €10,447 | +€4,568 | +77.7% |
| Profit (loss) for the period | 9904 | €22,289 | €39,540 | +€17,251 | +77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,289 | €39,540 | +€17,251 | +77.4% |
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 2 October 2026 via checked.be.