SAESEN: 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.
SAESEN
Largest movements
- Cash +€28,245
up €28,245 (+51.2%), from €55,186 to €83,430
mainly Net result for the year (+€35,256) and Trade debts (+€3,007)
- Receivables within one year +€4,251
up €4,251 (+6.8%), from €62,424 to €66,675
of which Trade receivables: +€3,233
- Profit (loss) carried forward +€35,256
up €35,256 (+40.5%), from €87,029 to €122,285
- Tax, wage and social debts -€6,336
down €6,336 (-46.5%), from €13,623 to €7,287
of which Taxes: -€8,278
- Trade debts +€3,007
up €3,007 (+380%), from €792 to €3,798
- Gross operating margin +€5,732
up €5,732 (+13.2%), from €43,453 to €49,185
- Taxes +€2,220
up €2,220 (+20.6%), from €10,774 to €12,994
- Financial income +€615
up €615, from €0 to €615
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,444 | €155,260 | +€33,816 | +27.8% |
| Current assets | 29/58 | €121,444 | €155,260 | +€33,816 | +27.8% |
| Amounts receivable within one year | 40/41 | €62,424 | €66,675 | +€4,251 | +6.8% |
| Trade receivables | 40 | €61,252 | €64,485 | +€3,233 | +5.3% |
| Other amounts receivable | 41 | €1,172 | €2,190 | +€1,018 | +86.9% |
| Cash at bank and in hand | 54/58 | €55,186 | €83,430 | +€28,245 | +51.2% |
| Deferred charges and accrued income | 490/1 | €3,835 | €5,155 | +€1,320 | +34.4% |
| Total equity and liabilities | 10/49 | €121,444 | €155,260 | +€33,816 | +27.8% |
| Equity | 10/15 | €107,029 | €142,285 | +€35,256 | +32.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,029 | €122,285 | +€35,256 | +40.5% |
| Amounts payable | 17/49 | €14,415 | €12,975 | -€1,440 | -10.0% |
| Amounts payable within one year | 42/48 | €14,415 | €12,097 | -€2,318 | -16.1% |
| Trade debts | 44 | €792 | €3,798 | +€3,007 | +380% |
| Suppliers | 440/4 | €792 | €3,798 | +€3,007 | +380% |
| Taxes, remuneration and social security | 45 | €13,623 | €7,287 | -€6,336 | -46.5% |
| Taxes | 450/3 | €13,623 | €5,345 | -€8,278 | -60.8% |
| Remuneration and social security | 454/9 | - | €1,942 | +€1,942 | |
| Other amounts payable | 47/48 | €0 | €1,011 | +€1,011 | |
| Accrued charges and deferred income | 492/3 | - | €878 | +€878 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,181 | €1,434 | +€253 | +21.4% |
| Gross operating margin | 9900 | €43,453 | €49,185 | +€5,732 | +13.2% |
| Operating profit (loss) | 9901 | €42,272 | €47,751 | +€5,479 | +13.0% |
| Financial income | 75/76B | €0 | €615 | +€615 | |
| Recurring financial income | 75 | €0 | €615 | +€615 | |
| Financial charges | 65/66B | €195 | €116 | -€79 | -40.6% |
| Recurring financial charges | 65 | €195 | €116 | -€79 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €42,077 | €48,250 | +€6,173 | +14.7% |
| Income taxes | 67/77 | €10,774 | €12,994 | +€2,220 | +20.6% |
| Profit (loss) for the period | 9904 | €31,303 | €35,256 | +€3,952 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,303 | €35,256 | +€3,952 | +12.6% |
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 14 October 2026 via checked.be.