SAERENS TECHNICAL SERVICES: what changed
SAERENS TECHNICAL SERVICES
Largest movements
- Tangible fixed assets +€198,201
up €198,201 (+115%), from €171,841 to €370,042
of which Land and buildings: +€222,599
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€70,683
down €70,683 (-54.0%), from €130,974 to €60,291
of which Trade receivables: -€73,218
- Cash -€24,713
down €24,713 (-10.9%), from €226,614 to €201,901
mainly Investment in fixed assets (net) (-€242,739) and Current investments (-€100,000)
- Debts after one year +€166,267
up €166,267 (+280%), from €59,363 to €225,629
- Other debts +€29,330
up €29,330 (+45.3%), from €64,767 to €94,097
- Reserves +€16,732
up €16,732 (+6.4%), from €262,782 to €279,514
of which Distributable reserves: +€16,732
- Trade debts -€14,141
down €14,141 (-18.5%), from €76,236 to €62,095
- Current portion of long-term debt +€10,884
up €10,884 (+38.3%), from €28,419 to €39,303
- Gross operating margin -€25,976
down €25,976 (-25.5%), from €101,836 to €75,860
- Taxes -€12,335
down €12,335 (-59.6%), from €20,706 to €8,371
- Depreciation +€11,373
up €11,373 (+34.3%), from €33,165 to €44,538
- Financial charges +€3,868
up €3,868 (+102%), from €3,796 to €7,664
- Financial income +€2,106
up €2,106 (+538%), from €392 to €2,498
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 | €531,636 | €735,463 | +€203,827 | +38.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €171,841 | €370,042 | +€198,201 | +115% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €171,841 | €370,042 | +€198,201 | +115% |
| Land and buildings | 22 | €103,243 | €325,841 | +€222,599 | +216% |
| Plant, machinery and equipment | 23 | €12,212 | €10,213 | -€1,999 | -16.4% |
| Furniture and vehicles | 24 | €56,387 | €33,988 | -€22,398 | -39.7% |
| Current assets | 29/58 | €359,795 | €365,421 | +€5,626 | +1.6% |
| Stocks and contracts in progress | 3 | €366 | €366 | = | 0.0% |
| Stocks | 30/36 | €366 | €366 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €130,974 | €60,291 | -€70,683 | -54.0% |
| Trade receivables | 40 | €119,975 | €46,756 | -€73,218 | -61.0% |
| Other amounts receivable | 41 | €11,000 | €13,535 | +€2,536 | +23.1% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €226,614 | €201,901 | -€24,713 | -10.9% |
| Deferred charges and accrued income | 490/1 | €1,841 | €2,862 | +€1,021 | +55.5% |
| Total equity and liabilities | 10/49 | €531,636 | €735,463 | +€203,827 | +38.3% |
| Equity | 10/15 | €294,875 | €311,607 | +€16,732 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €262,782 | €279,514 | +€16,732 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €233,922 | €250,654 | +€16,732 | +7.2% |
| Profit (loss) carried forward | 14 | €13,493 | €13,493 | = | 0.0% |
| Amounts payable | 17/49 | €236,761 | €423,856 | +€187,095 | +79.0% |
| Amounts payable after more than one year | 17 | €59,363 | €225,629 | +€166,267 | +280% |
| Financial debts | 170/4 | €59,363 | €225,629 | +€166,267 | +280% |
| Amounts payable within one year | 42/48 | €177,398 | €198,210 | +€20,812 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €28,419 | €39,303 | +€10,884 | +38.3% |
| Trade debts | 44 | €76,236 | €62,095 | -€14,141 | -18.5% |
| Suppliers | 440/4 | €76,236 | €62,095 | -€14,141 | -18.5% |
| Taxes, remuneration and social security | 45 | €7,976 | €2,716 | -€5,261 | -66.0% |
| Taxes | 450/3 | €7,976 | €2,716 | -€5,261 | -66.0% |
| Other amounts payable | 47/48 | €64,767 | €94,097 | +€29,330 | +45.3% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,165 | €44,538 | +€11,373 | +34.3% |
| Other operating charges | 640/8 | €1,007 | €1,053 | +€47 | +4.6% |
| Gross operating margin | 9900 | €101,836 | €75,860 | -€25,976 | -25.5% |
| Operating profit (loss) | 9901 | €67,665 | €30,269 | -€37,396 | -55.3% |
| Financial income | 75/76B | €392 | €2,498 | +€2,106 | +538% |
| Recurring financial income | 75 | €392 | €2,498 | +€2,106 | +538% |
| Financial charges | 65/66B | €3,796 | €7,664 | +€3,868 | +102% |
| Recurring financial charges | 65 | €3,796 | €7,664 | +€3,868 | +102% |
| Profit (loss) for the period before taxes | 9903 | €64,260 | €25,103 | -€39,158 | -60.9% |
| Income taxes | 67/77 | €20,706 | €8,371 | -€12,335 | -59.6% |
| Profit (loss) for the period | 9904 | €43,555 | €16,732 | -€26,823 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,555 | €16,732 | -€26,823 | -61.6% |
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 7 November 2026 via checked.be.